Official Committee of Asbestos Claimants v. G-I Holdings
Analysis Group's client, BMCA, was sued as a result of the bankruptcy of building supply holding company G-I Holdings, from which BMCA was spun out. Through an acquisition, G-I Holdings had inherited an asbestos-related liability that remained with the holding company after the spin-out of BMCA, which subsequently housed the company's operating assets. G-I and BMCA were sued by a creditor group after G-I filed for bankruptcy. Analysis Group has worked with the original and current supervising litigation counsel on the issue of successor liability. Proceedings are pending in federal district court and bankruptcy court in New Jersey seeking estimation of the asbestos liability for certain products sold and declaratory judgment concerning any successor liability of G-I's major operating subsidiary, BMCA, for asbestos claims against its parent. Analysis Group Managing Principal Maureen Chakraborty supported our expert, who provided deposition testimony in this matter on issues relating to the ability of the operating firm to raise capital, valuation, and solvency.