"David Zensky and Nicholas Adams' article 'Accessing Insurance Proceeds in Class Actions' is published in the New York Law Journal"
In a thought-provoking article published by the New York Law Journal, David Zensky and Nicholas Adams, experts in the litigation practice at Gump, delve into the complex world of using insurance proceeds in class action lawsuits. The article, titled "Tapping Insurance Proceeds in Class Actions," offers valuable insights into this often-contested area.
The authors use In re Platinum and Palladium Commodities Litigation as a case study to illustrate their points. The article examines situations where an individual defendant may not wish to contribute personal funds or may be deemed judgment proof. In such cases, the use of insurance proceeds becomes crucial.
However, the authors caution that advance planning cannot guarantee an unimpeded settlement approval when third-party stakeholders are competing for the same insurance proceeds. This is a critical point to consider, as it highlights the potential complexities that can arise in these cases.
David Zensky and Nicholas Adams, both partners and counsel in their respective firms, have co-authored this insightful piece. David Zensky is a partner at Cleary Gottlieb Steen & Hamilton LLP, and Nicholas Adams is a partner at Susman Godfrey LLP.
For a comprehensive understanding of the topics discussed in the article, readers are encouraged to read it in full by clicking here. The article provides a detailed analysis of the use of assignments in complex class action lawsuits, offering invaluable guidance for those navigating this challenging legal landscape.
