Kaiser files for bankruptcy after thousands of lawsuits in NC
Posted on Friday, October 7th, 2016 at 1:05 pm
A construction materials manufacturer in North Carolina filed for Chapter 11 Bankruptcy after facing thousands of asbestos lawsuits, an article of mesothelioma.com reported on October 4.
According to reports, Kaiser Gypsum, Inc. filed their bankruptcy papers on September 30 in the federal District Court for the Western District of North Carolina after facing over 38,000 lawsuits from people exposed to asbestos. Thousands of lawsuits were filed against the company due to the “chrysotile asbestos” mineral they use in some of the construction materials they manufacture, namely drywall. Kaiser and its parent company, Hanson Permanente, are planning to set up an asbestos trust fund to address the roughly 14,000 pending lawsuits before the bankruptcy filing. The company also claims to have lost hundreds of millions of dollars in settlements over the last four decades.
If you decide to file for Chapter 11 Bankruptcy, a Raleigh attorney at the Bradford Law Offices, PLLC may be able to legally assist you. We represent business owners who are optimistic about settling their debt through realistic plans. Call our office today at (919) 758-8879 to find out how we may be able to work for you.