Kaiser Gypsum Files Petition for Chapter 11 Bankruptcy, Cites Pending Asbestos Claims

CHARLOTTE, N.C. –– Kaiser Gypsum Co. Inc. has filed a voluntary petition for Chapter 11 bankruptcy under the weight of underlying asbestos claims, citing the more than $100 million in liabilities.

The company –– named often as a defendant in asbestos lawsuits –– filed the petition on Sept. 30 in the U.S. Bankruptcy Court for the Western District of North Carolina.

As part of the filing, Kaiser Gypsum submitted a consolidated list of the 30 asbestos plaintiff firms with the largest number of scope of asbestos cases against the company.

The asbestos defendant filed the petition with Hanson …