Information Needed On Garlock’s Parent Settlement, Released Claims, Committee Says

(October 22, 2015, 8:08 AM EDT) -- CHARLOTTE, N.C. — Chapter 11 debtor Garlock Sealing Technologies LLC and its parent companies should be forced to respond to discovery requests of the asbestos claimants’ committee so a North Carolina federal bankruptcy court can decide whether the parent companies should be absolved of asbestos liabilities through Garlock’s plan of reorganization and whether the debtor breached its fiduciary duties to the claimants in proposing a settlement with the parent companies, the committee says in two motions filed Sept. 29 (In re: Garlock Sealing Technologies, LLC, No....
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