Good day and welcome to WSJ Pro Bankruptcy's Daily Briefing. It's Wednesday, June 17. In today's briefing, Georgia-Pacific is exploring a second chapter 11 filing to resolve tens of thousands of asbestos-related lawsuits after injury lawyers refused to settle within the current bankruptcy due to the use of the controversial Texas Two-Step. And Brightline bondholders have extended an interest payment deadline to July 1 to allow more time for restructuring negotiations.

A Bestwall executive disclosed under oath that parent company Georgia-Pacific is exploring a second chapter 11 filing to replace the pulp-and-paper manufacturer’s yearslong bankruptcy intended to resolve tens of thousands of asbestos-related lawsuits.

J. Joel Mercer, Bestwall’s chief legal officer, said in his deposition that Georgia-Pacific has been negotiating on behalf of its Bestwall unit since the summer of 2025 with lawyers representing asbestos claimants for a potential settlement to be implemented in a new bankruptcy, according to a deposition transcript reviewed by WSJ Pro Bankruptcy.

According to the transcript, Mercer said the idea of a second bankruptcy arose because injury lawyers didn’t want to settle with Bestwall since it was created through the Texas Two-Step divisional merger.

Bondholders to Florida’s high-speed rail operator Brightline have extended the deadline for an interest payment by two weeks, according to a Tuesday municipal market filing.

A group of holders representing more than 75% of Brightline’s revenue bonds pushed the due date to July 1, according to the filing. The bondholders have extended the company’s Feb. 17 interest payment multiple times while negotiating a potential restructuring.

The bondholders also waived a default that would have been triggered after Brightline borrowed $22.2 million without their consent on May 21. The filing didn’t identify the lender.

Brightline has been fielding bankruptcy-loan offers from creditors after issuing a going-concern warning earlier this year.

–Alicia McElhaney

Vermont became the third state since the start of last year to try to keep private equity out of the examining room, as physicians and lawmakers increasingly take a skeptical view of corporate investors in medicine.

Vermont Gov. Phil Scott, a Republican, on Monday signed into law a bill prohibiting corporate entities such as private-equity firms and hedge funds from interfering in the practice of medicine at healthcare facilities that they back. The law also requires healthcare companies to publicly report their ownership and investors.

Sixth Street is investing $143 million in Chronograph as the portfolio-monitoring company expands into private credit—where investors’ fears over valuations and threats from artificial intelligence have roiled markets and driven wave after wave of redemptions.

U.S. industrial production increased slightly in May, according to data published by the Federal Reserve.

Production rose by 0.1% last month, after rising 0.9% in April. Analysts polled by The Wall Street Journal expected a 0.3% increase.

Manufacturing output was unchanged in May after increasing 0.7% in April. Output from utilities decreased 0.4%. In May, the index for mining rose 1.3%.

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