Caplin & Drysdale Represents Asbestos Claimants Committee in Kaiser Gypsum Bankruptcy Appeal

On February 14, 2023, U.S. Court of Appeals for the Fourth Circuit upheld the U.S. District Court for the Western District of North Carolina decision in Truck Insurance Exchange v. Kaiser Gypsum Co. Inc. The Fourth Circuit’s opinion stated that Truck Insurance Exchange is not a "party in interest" and lacks standing, as the insurer for Kaiser Gypsum Co. Inc, to object to the company’s bankruptcy plan that established a trust for asbestos claims. Kaiser Gypsum Co. Inc established a trust under Bankruptcy Code Section 524(g) for current and future asbestos claims after negotiations with the Official Committee of Asbestos Personal Injury Claimants.

Caplin & Drysdale’s Kevin Maclay, Todd Phillips, and James Wehner represented the Official Committee of Asbestos Personal Injury Claimants in the appeal.