Kaiser Gypsum and Hanson Permanente Cement file chapter 11 to permanently resolve asbestos claims
Client(s) Hanson Permanente Cement, Inc. and Kaiser Gypsum Company
Jones Day is representing Kaiser Gypsum Company and Hanson Permanente Cement in their chapter 11 cases. At the time of the bankruptcy filings, the companies were defendants in approximately 14,000 asbestos-related bodily injury lawsuits pending across the country. The companies also have significant legacy environmental liabilities. The twin goals of the chapter 11 cases are to permanently resolve all current and future asbestos claims through the establishment of a trust pursuant to section 524(g) of the Bankruptcy Code and to discharge the environmental liabilities.