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Hanson Permanente Cement Chapter 11 Petition Filed

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Privately-held Hanson Permanente Cement (f/k/a Kaiser Cement) and one wholly-owned subsidiary filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of North Carolina, lead case number 16-31602 (Kaiser Gypsum Company). The Company, which manufactures and sells portland cement products, is represented by John R. Miller, Jr. of Rayburn Cooper & Durham.

According to documents filed with the Court, “The Debtors’ asbestos-related liabilities arise from their manufacture and sale of certain products that decades ago contained small amounts of asbestos (collectively, the ‘Debtors’ Asbestos Products’)….The Debtors have faced thousands of asbestos-related lawsuits dating back to 1978. Since 1978, one or both of the Debtors have been named in more than 38,000 asbestos-related lawsuits. As of August 31, 2016, the Debtors were defendants in approximately 14,000 pending asbestos-related bodily injury lawsuits filed in state courts across the country.” Hanson Permanente Cement’s Chapter 11 petition indicates total assets greater than $100 million.

Read more asbestos bankruptcy news.

The post Hanson Permanente Cement Chapter 11 Petition Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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