August 17, 2018 / 11:50 PM / a month ago

Asbestos claimants call Bestwall bankruptcy a 'sham'

The bankruptcy of joint compound maker Bestwall LLC should be dismissed because the company’s split from Georgia-Pacific Corp was a “sham” meant to protect its former parent from asbestos-related liability, according to a committee of asbestos claimants.

The committee made up of individuals who blame their health problems on asbestos exposure will press that argument on Monday at a hearing in U.S. Bankruptcy Court in Charlotte, North Carolina, where Bestwall filed for Chapter 11 bankruptcy protection in November amid the soaring costs of defending asbestos claims.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2PjTW46

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