Garlock Sealing Technologies LLC will argue at an upcoming trial that it owes no more than $125 million in asbestos liabilities, though personal-injury claimants say that number is closer to $1.3 billion, Dow Jones Newswires reported yesterday. A bankruptcy court will start on July 22 seeking to resolve a crucial issue that must be resolved before Garlock can exit chapter 11 protection: how much, if anything, it owes individuals who have been or will be diagnosed with mesothelioma. Thousands of people have alleged that their exposure to asbestos in Garlock's gaskets, conveyor belts and other products caused the rare and deadly cancer. Because it can be several decades after exposure before mesothelioma develops, more personal-injury claims could be filed in the future. In a pretrial brief filed this week, Garlock said that it will argue that "it has little or no responsibility" for the claims. It said that the claimants can't prove that its products caused their cancer.
