North Carolina Bankruptcy Court Signs Off On Garlock Disclosure Statement
(August 23, 2016, 7:30 AM EDT) -- CHARLOTTE, N.C. — A North Carolina federal bankruptcy judge on July 29 approved the disclosure statement for the reorganization plan of Chapter 11 debtor Garlock Sealing Technologies LLC (GST), which urges asbestos personal injury claimants to accept the plan and its $480 million asbestos trust (In re: Garlock Sealing Technologies, LLC, et al., No. 10-31607, W.D. N.C. Bkcy.).
(Order available. Document #48-160826-015R.)
GST and affiliates Garrison Litigation Management Group and The Anchor Packing Co. (collectively, Garlock) filed voluntary petitions under Chapter 11 of the...