Case timeline

1. Feb 112026
   Hearings: Claimants seek trustee or examiner for Bestwall as section 524(g) talks continue

   Certain mesothelioma claimants represented by Maune Raichle moved on February 11 to replace Bestwall with a chapter 11 trustee or, failing that, an examiner. They argue the case has spent nearly a decade in chapter 11 while New GP's value rose to about $27.8 billion and more than $7 billion in dividends went to Koch, even though Bestwall itself has no operating workforce and was created to warehouse asbestos liabilities. The motion asks the Bankruptcy Administrator to convene a creditor meeting within 15 days to select the fiduciary if relief is granted source filing source filing.

   Bestwall's March 24 objection says the motion is a litigation tactic meant to force claims back into the tort system, not a response to genuine case paralysis. The debtor says it has been in confidential talks since summer 2025 with more than 35 law firms representing a substantial majority of current claimants, has multiple agreements in principle, and continues to press toward a consensual section 524(g) outcome. That response also ties the current fight back to the claimant-sponsored second amended plan filed in October 2024, which would route the Funding Agreement and the $1 billion qualified settlement fund into a trust structure source filing source filing.

   The court denied the movants' bid for expedited discovery on April 2 for lack of sufficient cause, but the dispute has now spread into estimation discovery. On April 3, the ACC and FCR sought a formal deposition protocol after the David Biderman deposition, accusing Bestwall and New GP of using Robinson Bradshaw's witness representation to shield preparation communications and documents. The latest monthly report shows why the case's duration still matters economically: Bestwall ended February with $26.4 million of cash after paying $2.73 million of professional fees in a single month, reported no secured debt, and separately held $35.4 million for non-debtor subsidiaries in the cash pool source filing source filing source filing

   Sources and provenanceFebruary 11, 2026