Trane Unit’s Claimants Move to Appeal Bankruptcy Dismissal Loss

Aldrich Pump’s asbestos claimants are seeking to revive an effort to throw out the Trane Technologies Plc unit’s bankruptcy after a court rejected their motion to dismiss the Chapter 11.

Claimants quoted bankruptcy Judge J. Craig Whitley, who denied their motion to dismiss Aldrich’s bankruptcy in December but said it raised issues that are ripe for appellate review. Whitley noted that Aldrich’s bankruptcy, like Georgia-Pacific affiliate Bestwall LLC, was languishing as questions about its controversial legal strategy persist.

Under the strategy, known as the Texas Two-Step, companies spin off their liability into a new corporate entity and place it into ...