In re G-I Holdings Inc., No. 01-30135; U.S. Bankruptcy Court (DNJ); opinion by Gambardella, U.S.B.J.; filed August 13, 2012. DDS No. 42-6-xxxx [53 pp.]
On Jan. 5, 2001, G-I Holdings Inc. (G-I) filed a voluntary petition for relief under Chapter 11 of the bankruptcy code and continued to operate its business as a debtor-in-possession. G-I is the successor-in-interest to GAF Corporation (GAF), an entity named in approximately 500,000 asbestos-related lawsuits. As successor-in-interest, G-I remained liable for approximately 150,000 asbestos- related lawsuits filed but unresolved as of the petition date and for asbestos-related claims that would be filed in the future.
