Watchdog Questions Imerys Talc's Ch. 11 Asset Buy Plans

Law360 (June 15, 2021, 6:18 PM EDT) -- The Office of the United States Trustee has objected to a proposal from bankrupt talc miner Imerys Talc America to acquire small businesses in its Chapter 11 to serve as investment vehicles for its funds, saying the debtor must show the investments are a proper use of estate resources.

In the objection filed late Monday, the U.S. trustee argues that Imerys must comply with Section 345 of the federal bankruptcy code, which requires an accounting of the costs and risks associated with a debtor's acquisition of assets.

"The debtors have the burden to establish that the relief they seek in their...

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