In Defense of Creditors’ Schemes for Mass Torts

Rohan Balani, LL.M. Candidate at Columbia University, argues that Australian companies should more actively consider using Part 5.1 creditors’ schemes of arrangement to resolve mass tort liabilities, as schemes can bind dissenting tort claimants, accommodate third-party releases, provide stronger disclosure and creditor participation than class action settlements, and offer a more efficient and final alternative to both Australian class actions and US Chapter 11 processes.

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