Claimant Seeks Dismissal Of Chapter 11 Case Of Georgia-Pacific Debtor Bestwall

(February 22, 2023, 3:43 PM EST) -- CHARLOTTE, N.C. — With two federal circuit courts recently ruling on what constitutes a bad faith bankruptcy in cases also involving debtors created in corporate restructurings to absorb affiliates’ asbestos liability, it’s time to again look at whether the Chapter 11 case of Georgia-Pacific spinoff Bestwall LLC should be dismissed for lack of the “overwhelming liability” required of a debtor to enter bankruptcy, an asbestos claimant and his wife say in a motion to dismiss filed more than three years after a North Carolina U.S. bankruptcy judge denied a dismissal bid by the asbestos claimants’ committee....