LegalJun 29, 2026, 05:06 PM
Minerals Technologies Files Reorganization Plan for BMI OldCo
AI Summary
Minerals Technologies Inc. (MTI) announced the filing of a Plan of Reorganization for its subsidiary BMI OldCo Inc.'s Chapter 11 cases. The plan proposes to fund a Talc Personal Injury Trust with $450 million and includes the waiver of over $100 million in claims against the debtors. MTI will record a $290 million charge in the second quarter of 2026 to increase its reserve for estimated costs, while the broader dispute regarding talc safety remains before the U.S. District Court.
Key Highlights
- Filed a Plan of Reorganization for BMI OldCo Inc. Chapter 11 cases.
- Plan includes funding a Talc Personal Injury Trust with $450 million.
- Non-Debtor Affiliates to waive over $100 million in claims against Debtors.
- MTI to record a $290 million charge in Q2 2026 for estimated costs.
- Broader dispute on talc safety remains before U.S. District Court.
- Plan aims for efficient resolution and certainty for all stakeholders.
Price Impact
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