Garlock, Committee Agree On Percentage To Figure Non-Mesothelioma Liability

(December 11, 2015, 11:41 AM EST) -- CHARLOTTE, N.C. — Chapter 11 debtor Garlock Sealing Technologies LLC and the Official Committee of Asbestos Personal Injury Claimants agree on one issue in their heated battle over Garlock’s $500 million plan of reorganization — that the debtor’s liability for non-mesothelioma asbestos claims is estimated at 17.65 percent of its aggregate liability for mesothelioma claims, according to a stipulation and order signed Dec. 8 by a North Carolina federal bankruptcy judge (In re: Garlock Sealing Technologies, LLC, No. 10-31607, W.D. N.C. Bkcy.).

(Stipulation and order available....
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