Representing Claimants Committee in “Texas Two Step” Bankruptcy

Gilbert LLP was recently retained by the Claimants Committee in the Chapter 11 bankruptcy proceedings filed by Aldrich Pump LLC and Murray Boiler LLC.  Aldrich and Murray are asbestos liability holding companies formed by the Ingersoll-Rand Co. and Trane Technologies PLC, respectively.  In representing the Claimants Committee, Gilbert is utilizing its expertise in recovering contested insurance funds in mass tort bankruptcy cases.  Aldrich and Murray purport to hold approximately $2.5 billion of insurance coverage.

The debtors in this bankruptcy matter were created through the Texas Divisive Merger Statue, wherein the liabilities and obligations of the dividing entities are allocated among the new entities formed pursuant to the merger.