219 F.3d 478 (5th Cir. 2000)
In the Matter of: National Gypsum Company, and Aancor Holdings, Inc., Debtors.The New National Gypsum Company, Appellant,v.The National Gypsum Company Settlement Trust, Appellee.In the Matter of: National Gypsum Company, Debtor.National Gypsum Company, Appellant,v.NGC Settlement Trust and The Asbestos Claims Management Corporation, Appellees.
No. 99-10758, 99-10760
IN THE UNITED STATES COURT OF APPEALS, FIFTH CIRCUIT
July 18, 2000REVISED, JULY 25, 2000

Appeals from the United States District Court for the Northern District of Texas.
Before REAVLEY, SMITH, and EMILIO M. GARZA, Circuit Judges.
JERRY E. SMITH, Circuit Judge:


1
In 1993, the bankruptcy court entered an order (the "Confirmation Order") confirming the joint chapter 11 plan of reorganization (the "Plan") of Aancor Holdings, Inc. ("Aancor"), and its wholly-owned subsidiary, National Gypsum Company ("Old-NGC"), and approving certain plan documents. As a result ofand wallboard-related products, and the Austin Company ("Austin"), a design, engineering, and construction firm. Old-NGC also retained insurance coverage ("Insurance") available to pay some asbestos claims.


5
Old-NGC, the Asbestos Committee, and the BT Committee agreed on how Old-NGC's assets would be used to pay commercial and asbestos claims. Commercial creditors would receive Gold Bond, and asbestos claimants would receive Old-NGC and its assets, including Austin, the Insurance, certain insurance-related claims, and $10 million from New-NGC. Under a draft plan of reorganization (the "Draft Plan"), Aancor, the parent debtor, would be merged into Old-NGC, with Old-NGC as the surviving entity. Old-NGC was to be renamed Asbestos Claims Management Corporation, and two new entities were to be created, the Trust and New-NGC. The Draft Plan was approved by the necessary classes