The US Supreme Court declined to review the validity of a Georgia-Pacific LLC unit’s Chapter 11 filing, which was challenged by people who say their cancer was caused by the company’s asbestos-containing products.
A committee of asbestos claimants urged the high court in February to overturn an August decision from the US Court of Appeals for the Fourth Circuit that rejected the group’s efforts to dismiss the nearly nine-year-old bankruptcy.
Georgia-Pacific in 2017 became the first company to attempt the controversial Texas Two-Step legal maneuver by shifting its asbestos liabilities into a subsidiary, Bestwall LLC. It then placed Bestwall into ...