DATE: Tuesday, May 9, 2023
TIME: 1:00 PM - 2:30 PM
ORGANIZER: Strafford Publications
This CLE webinar will guide counsel on identifying and pursuing defunct or "zombie" corporations and their insurance assets as a source of funding cleanup of contamination sites. The panel will discuss what to do after identifying zombie candidates, claims evaluation due diligence, litigation trends in these PRP and insurance cost recovery cases, the states where these claims are more likely to succeed, and how to manage and overcome impediments to successful recoveries.
As contamination site cleanup costs continue to rise, attorneys have looked to additional ways to tap into insurance coverage to pay for cleanup, including pursuing zombie corporations to reach their undistributed assets.
These dissolved corporations may have undistributed insurance assets that, with the right strategy, can be triggered and monetized to help defray cleanup costs and reduce potential CERCLA liability of other parties.
Counsel face hurdles when reviving these corporations to pursue insurance claims such as understanding what the undistributed assets are and the laws that apply, identifying whether corporations are "dead and buried" and not subject to lawsuits, triggering the insurance coverage, representing the zombie, and managing the costs of PRP and insurance claims.
Listen as our authoritative panel discusses the pursuit of zombie corporations and their insurance assets and how to manage the claims for success.