Bestwall LLC

  1. May 10, 2024

    Full 4th Circ. Urged To Settle Key 'Texas Two-Step' Questions

    A Fourth Circuit panel left critical issues open when it denied permission to an appeal challenging the so-called Texas two-step Chapter 11 of industrial equipment maker Aldrich Pump, asbestos claimants in two separate bankruptcy cases said, asking the full appeals court to reconsider hearing the case and settle questions that have plagued their own bankruptcies in the Western District of North Carolina.

  2. March 22, 2024

    Bestwall Says 'Texas Two-Step' Irrelevant To Asbestos Ch. 11

    Bestwall, the bankrupt asbestos unit of Georgia-Pacific, told the U.S. Supreme Court Friday that a pre-bankruptcy corporate restructuring in Texas that separated its asbestos liability from the parent business should not matter in determining whether a bankruptcy court has jurisdiction over the subsidiary's asbestos injury claims.

  3. January 23, 2024

    ​​​​​​​'Two-Step' Bankruptcies Abuse Law, AGs Tell Justices

    Attorneys general from 24 states and the District of Columbia told the U.S. Supreme Court on Monday that divisional mergers that manufacture jurisdiction for bankruptcy purposes shouldn't be allowed, writing in an amicus brief that Georgia-Pacific asbestos unit Bestwall employed the tactic to shield the parent from liability.

  4. August 08, 2023

    4th Circ. Won't Rethink Ban On Georgia-Pacific Asbestos Suits

    The full Fourth Circuit has declined to reconsider a panel decision upholding a bankruptcy stay of asbestos litigation against Georgia-Pacific LLC, allowing the paper products company to remain shielded from mass tort litigation by way of its subsidiary's Chapter 11.

  5. July 26, 2023

    Pro-Biz Groups Back Ban On Georgia-Pacific Asbestos Suits

    The Fourth Circuit shouldn't rethink an injunction shielding Georgia-Pacific LLC from mass tort litigation through its subsidiary's Chapter 11, the U.S. Chamber of Commerce and a tort reform group said, arguing bankruptcy is a legitimate and efficient way to manage the manufacturer's sprawling asbestos litigation.

  6. July 06, 2023

    Full 4th Circ. Asked To Rethink Georgia-Pacific Asbestos Stay

    The asbestos claimants committee in the Bestwall Chapter 11 has asked the full Fourth Circuit to take another look at an injunction shielding parent company Georgia-Pacific from its claims, saying last month's panel decision allowing the injunction to stand is an invitation for "wealthy tortfeasors" to manipulate the Bankruptcy Code.

  7. June 20, 2023

    4th Circ. OKs Ban On Asbestos Suits Against Georgia-Pacific

    The Fourth Circuit upheld a bankruptcy court's injunction in the case of Bestwall LLC that bars asbestos injury litigation against nondebtor Georgia-Pacific, saying in a 2-1 decision Tuesday that the bankruptcy court had the required jurisdiction and applied the correct standard in approving the injunction.

  8. March 31, 2023

    Asbestos Claimants Take New Tack In Bestwall Dismissal Bid

    The asbestos claimants in the bankruptcy case of Georgia-Pacific unit Bestwall LLC have again called for a North Carolina bankruptcy judge to dismiss the Chapter 11 case, saying Bestwall is more than capable of paying its creditors under an unlimited funding agreement with Georgia-Pacific.

  9. December 06, 2022

    Asbestos Claimants Ask 4th Circ. To End Georgia-Pacific Stay

    The asbestos claimants committee in the Bestwall Chapter 11 asked a Fourth Circuit panel Tuesday to overturn an injunction shielding Bestwall parent Georgia-Pacific from their claims, saying the bankruptcy judge overstepped the law when she issued the order.

  10. August 10, 2022

    Endo Teeters On The Edge, Revlon Equity Committee Sought

    Endo Pharmaceuticals said it is close to filing for bankruptcy over its opioid liability, Revlon shareholders want representation in its Chapter 11 case, and a North Carolina judge said sanctions worked on asbestos claimants in the Bestwall bankruptcy. This is the week in bankruptcy.