Insurer Seeks High Court Review of Ruling Barring Objections to Kaiser Gypsum Bankruptcy Plan
June 8, 2023
RICHMOND, Va. — The primary insurer of Kaiser Gypsum and Hanson Permanente has asked the U.S. Supreme Court to review the 4th Circuit’s ruling that it does not have standing to challenge the companies’ reorganization plan, arguing that it contravenes the purpose of 11 U.S.C. § 1109(b), in which Congress provided that “all parties in interest” may be heard “on any issue” in a bankruptcy proceeding.
In a May 3 petition for certiorari, Truck Insurance Exchange argues that it should be permitted to object to the Plan because it does not include fraud-prevention measures for insured asbestos claims, leaving the …