Imerys To Add Details Of $130M Talc Settlement In Ch. 11 Docs
By Vince Sullivan (January 15, 2021, 7:04 PM EST) -- Bankrupt talc producer Imerys Talc America agreed Friday to make changes to its Chapter 11 plan documents, telling a Delaware judge that it would add information about a $130 million settlement with former owner Cyprus Mines Corp. over legacy asbestos liabilities.
During a virtual hearing, the court heard arguments from various parties to the case about the need for additional disclosures in plan documents before they were sent to creditors for the solicitation of votes on the plan.
After much discussion, debtor attorney Kimberly A. Posin of Latham & Watkins LLP said the disclosure statement would be updated to include that...
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