Saint-Gobain: action to resolve asbestos case in US
(CercleFinance.com) - Saint-Gobain announces that DBMP LLC, which holds the legacy asbestos liabilities has filed a voluntary petition for Chapter 11 relief in the US Bankruptcy Court for the Western District of North Carolina in Charlotte.
This filing is intended to enable DBMP LLC to "achieve a certain, final and equitable resolution of all current and future claims arising from asbestos-containing products manufactured or sold by the former CertainTeed Corporation."
It will suspend the payment of all legal fees and compensation relating to the numerous asbestos-related claims made against DBMP LLC, as well as the related annual charges (estimated at 88 million euros in 2019).
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This filing is intended to enable DBMP LLC to "achieve a certain, final and equitable resolution of all current and future claims arising from asbestos-containing products manufactured or sold by the former CertainTeed Corporation."
It will suspend the payment of all legal fees and compensation relating to the numerous asbestos-related claims made against DBMP LLC, as well as the related annual charges (estimated at 88 million euros in 2019).
Copyright (c) 2020 CercleFinance.com. All rights reserved.