ASBESTOS LIABILITY BATTLES LOOM IN G-I HOLDINGS INC. BANKRUPTCY PROCEEDINGS
The Committee of Asbestos Claimants Squares Off Against G-I and Its Subsidiary BMCA, As G-I Dukes It Out with D&O Liability Insurers

icAendicccording to the Official Committee of Asbestos Claimants of G-I Holdings Inc., something is rotten in Denmark. Or New Jersey, to be more precise, in the U.S. Bankruptcy Court. In re: G-I Holdings Inc., No. 01-30135 (RG) (N.J. Bankr.).

photo-4In jeopardy, the Committee said, is the fair compensation due to hundreds of thousands of people suffering from the debilitating or life-threatening respiratory diseases caused by exposure to asbestos, or due to their survivors.

Wayne, N.J.-based G-I (formerly GAF Corp.) is seeking the bankruptcy court's protection for its subsidiary Building Materials Corp. of America (BMCA) from any lawsuit brought by the …