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Can you find a source saying that Georgia Pacific or any other company was able to use this process to shield the parent company from liability? I’m not finding
by somenits 3y ago
Can you find a source saying that Georgia Pacific or any other company was able to use this process to shield the parent company from liability? I’m not finding anything to that effect. Everything I see complains about them using the process to improperly consolidate the cases.
>Georgia Pacific did this. Pledged $1B, ended up funding $175M. The entity went bankrupt three months later with 62,000 claims fighting over those scraps for mesothelioma (i.e. an average claimant getting less than $3,000 - before legal costs).
A source would be helpful here too. Is it because the judge ultimately only found them liable for a total of $175M? Or did the judge find them liable for more but was only able to find $175M in actual money to pay out with?