Bankruptcy Settlements

David McClain’s track record of settling complex, high value litigation is almost universally successful with over twenty different mediators. As lead negotiator on behalf of approximately forty separate plaintiffs’ firms, he personally negotiated over $4 billion in settlements for the bankruptcy reorganizations of Western Asbestos Company, J.T. Thorpe, Inc., Thorpe Insulation Company, and Plant Insulation Company, and in each of these coverage and bankruptcy actions, Judge Renfrew acted as Futures Claims Representative, observing all of his negotiations. For example, in the coverage action Western Mac Arthur- and Mac Arthur Co. v. United States Fidelity & Guaranty Co., CA Sup. Ct. Case No. 721595-7, Mr. McCain personally negotiated over $1 billion in settlements USF&G, as part of the larger In re Western Asbestos Company, et al., No. 02-46284 T (Bankr. 2003), which he settled cumulatively for over $2.25 billion with the assistance of mediators including the Honorable William Cahill and Eugene Lynch. Similarly, with mediation by Judge Edward A. Infante (Ret.), McCain personally settled In re J.T. Thorpe, Inc., et al., No. LA02-14216-BB (Bankr. 2006) for over $300 million for thousands of claimants with seven separate settlements for major insurance companies and various defendant/insured parties.  With assistance from mediators including Justice Edward A. Panelli (Ret.), David Geronemus, and Peter Woodin, Mr. McCain settled actions related to In re Thorpe Insulation Co., et al. No. 2:07-bk-19271-BB (Bankr. 2008) for over $650 million with fifteen separate insurance companies for thousands of present and future claimants. In that matter, the settlement with Swiss Re was for $260 million.  Also with the assistance of David Gerenemus, David McCain settled the In re Plant Insulation Company, No. 09-31347 TEC (Bankr. 2012) actions for for over $335 million.

Catastrophic Personal Injury Settlements

David McCain has personally negotiated settlements on behalf of catastrophic personal injury victims in complex litigation for over $1 billion in total. For example, in In re: Complex Asbestos Litigation, CA Case No. 607734-9A (1991), McCain was the elected Plaintiffs’ Coordinator amongst at least twenty plaintiff firms during all pretrial matters in the consolidation of 540 individual asbestos victims’ cases against over 100 defendants. All but 6 cases settled before trial. Additionally he and law partner, Steven Kazan, acted on behalf of the firm as lead counsel in the Ahearn, et al. v. Fibreboard Corporation, et al. Civil Action No. 6:93cv526, E.D.Tex., upheld in Ahearn v. Fibreboard Corp., 162 F.R.D. 505 (E.D.Tex.1995); overturned in Ortiz v. Fibreboard Corp. 527 U.S. 815 (1999) (Breyer, J., dissenting), which originally achieved over $1.5 billion in settlement funds for a class of tens of thousands of asbestos victims.