Georgia-Pacific Gets Unjust Benefit With Ch. 11, Creditors Say

By Alex Wolf (October 18, 2018, 10:30 PM EDT) -- The unsecured creditors of bankrupt Georgia-Pacific affiliate Bestwall LLC on Wednesday again urged a North Carolina bankruptcy court to dismiss the company's Chapter 11 case, accusing the parent company of unjustly devising a way to dump off and reduce its legacy asbestos liabilities.

Georgia-Pacific continues to face backlash over an internal corporate restructuring the paper product and building material manufacturer pulled off last year that enabled it to sever its legacy asbestos liabilities and transfer them to Bestwall, a subsidiary that filed for bankruptcy with the intent of channeling current and future asbestos claims into a victims' trust.

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