Party in interest construed. In a Chapter 11 case, the Supreme Court held that an insurer for gypsum manufacturers and sellers was a party in interest under section 1109(b) for purposes of objecting to a proposed plan. The insurer had financial responsibility for asbestos claims filed in the bankruptcy, and the insurer could be directly and adversely affected by the proposed plan. The term “party in interest” is applied broadly to cover the insurer. The holding has no direct application to Chapter 13 but could have implications for an insurer in consumer cases. Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al., 2024 WL 2853106 (June 6, 2024).
