Johns Manville's Asbestos Woes Lead to a Turnaround

In the early 1980s Johns Manville was a defendant or co-defendant in nearly 10,000 asbestos suits, with juries making large awards of punitive damages, which were not covered by insurance. This case relates the bankruptcy and company-wide reorganization that ensued, and asks students to consider how Johns Manville was able to complete its successful turnaround and subsequent acquisition by Berkshire Hathaway.