Gleason serves as Financial Advisor in Chapter 11 Bankruptcy of Geo. V. Hamilton, Inc.
On March 30, 2018, McKees Rocks-based Geo. V. Hamilton, Inc., a commercial and industrial insulation and distribution contractor, announced that it had exited Chapter 11 bankruptcy under a confirmed plan of reorganization. Gleason Experts acted as a financial consultant to the Future Claimants’ Representative and the Official Committee of Asbestos Personal Injury Claimants. As part of the Chapter 11 proceedings, Gleason Experts prepared a valuation of the company and performed financial analyses of proposed plans of reorganization. In October 2015, the company had filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Western District of Pennsylvania for the purpose of resolving all existing and future personal injury and wrongful death claims arising from alleged exposure to asbestos-containing products distributed or installed by Hamilton. Through bankruptcy, the company has set aside a trust against which workers and others exposed to asbestos can file a claim.