New Chapter 11 Bankruptcy Filing - Aldrich Pump LLC

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Aldrich Pump LLC

June 18, 2020

Another day, another asbestos-sparked bankruptcy. Man. These things have legs. Aldrich Pump LLC and Murray Boiler LLC are recently formed LLCs spun out of a recent reorganization of Trane Technologies plc, a publicly-traded manufacturer of climate solutions for buildings, homes and transportation (and, via a subsidiary, successor by merger to Ingersoll-Rand Company).

While the debtors don’t mine or use asbestos in manufacturing products, they made industrial products that, in some cases, used asbestos-containing components manufactured and designed by third parties. As a result, the debtors’ have been subject to asbestos litigation going as far back as 1982. Year over year, the debtors now face “thousands upon thousands” of asbestos-related claims. The bankruptcy cases are meant to “…permanently, globally and fairly resolve the asbestos claims….” Here comes another 524(g) trust y’all.

  • Jurisdiction: W.D. of North Carolina (Judge Whitley)

  • Professionals:

    • Legal: Jones Day LLP (Gregory Gordon, Brad Erens, David Torborg, James Jones, Mark Cody, Caitlin Cahow, Genna Ghaul) & Rayburn Cooper & Durham PA

    • Financial Advisor: AlixPartners LLP (Carrianne Basler)

    • Claims Agent: KCC (*click on the link above for free docket access)