August 17, 2018 / 11:50 PM / 5 months 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.

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