Georgia-Pacific Affiliate Beats Bid to Toss Asbestos Bankruptcy

A Georgia-Pacific LLC affiliate facing thousands of asbestos claims beat the alleged victims’ efforts to dismiss its bankruptcy case.

Bestwall LLC, which was created to channel and handle more than 64,000 asbestos exposure claims against paper-product maker Georgia-Pacific, can continue to negotiate the terms of a claimants’ trust instead of having to litigate all the claims in courtrooms around the country, according to U.S. Bankruptcy Judge Laura T. Beyer’s opinion filed July 29.

A committee representing personal injury claimants had sought to get the bankruptcy case dismissed, arguing Bestwall is merely a “corporate sacrificial lamb” created to absorb billions of ...