USG Corp. Seeks Release from Asbestos Liabilities of Subsidiary

WILMINGTON, Del. -- USG Corp., a parent company to asbestos defendant U.S. Gypsum Co., has initiated an adversary proceeding against The Official Committee of Asbestos Personal Injury Claimants, arguing that the committee cannot hold all of USG's subsidiaries liable for asbestos claims asserted against Gypsum. USG Corp., et al., v. The Official Committee of Asbestos Personal Injury Claimants, et al., No. 01-2094 (Del. Bankr.).

In the Nov. 8 complaint filed in the U.S. Bankruptcy Court for the District of Delaware, USG also insists that a declaratory judgment is necessary in aiding the bankruptcy proceedings of Gypsum, particularly for the purpose …