Corporate Restructuring and Bankruptcy partner Philip Bentley was quoted in a January 24, 2011 Daily Bankruptcy Review article on the settlement recently reached in the Motors Liquidation bankruptcy, which fixed the amount of GM's asbestos liabilities at $625 million. The article reported that the deal, negotiated by Kramer Levin as counsel to the official creditors' committee, appears to be the first time that a company in bankruptcy has ever been able to settle its asbestos liabilities for less than the amount of its previously-reported asbestos reserve. The article contrasted a number of recent asbestos settlements that fixed the bankrupt company's asbestos liability at amounts five or six times the prior reserve. Bentley, who led the GM committee's asbestos litigation efforts, was quoted as saying, "We're glad to have been able to resolve the asbestos claims at a reasonable number."