Garrett Motion Inc. To Pay $1.2 Billion For Asbestos Claims In Sale Transaction

Mealey's (January 14, 2021, 1:48 PM EST) -- NEW YORK — Chapter 11 asbestos debtor Garrett Motion Inc. and affiliates on Jan. 11 announced in a news release and in a supplemental notice in New York federal bankruptcy court that it has selected a proposal from a group of stockholders led by Centerbridge Partners LP and funds managed by Oaktree Capital Management LP and entered into a $1.2 billion global settlement with its former parent to resolve asbestos claims....