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DOJ Warns Against Fraud In Kaiser Asbestos Trust Plan

Law360 (September 14, 2018, 5:51 PM EDT) -- The Department of Justice has filed a statement of interest in the asbestos-centric bankruptcy of Kaiser Gypsum Co., warning that it won't tolerate any continuation of the "fraud, abuse and mismanagement" that have plagued the asbestos trust system in recent years.

The notice, filed Thursday, comes as Gypsum has two pending Chapter 11 plans before the North Carolina bankruptcy court overseeing its case, one filed by the debtor and the other by its creditors.

Both plans focus almost entirely on the creation of an asbestos trust...
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