Fourth Circuit Denies Speedy Appeal for Asbestos ‘Two-Step’ Case

Plaintiffs fighting Trane Technologies Plc’s attempt to use bankruptcy to resolve asbestos liabilities lost their bid for a fast-tracked appeal challenging the legality of the maneuver.

A divided panel of the US Court of Appeals for the Fourth Circuit on Wednesday rejected a request by asbestos claimants to quickly consider whether the bankruptcies of two Trane Technologies units—Aldrich Pump and Murray Boiler—should be dismissed. The case must now go through the traditional bankruptcy appeals process, which requires a federal district court to consider the dispute before the Fourth Circuit.

The claimants in December lost their motion to dismiss Aldrich’s and ...