LegalJun 29, 2026, 05:01 PM
Minerals Technologies Files Reorganization Plan for Talc Claims
AI Summary
Minerals Technologies Inc. (MTI) and its affiliates have filed a Plan of Reorganization for its subsidiaries' Chapter 11 cases, aiming for an efficient resolution of talc-related claims. The plan proposes funding a Talc Personal Injury Trust with $450 million from Non-Debtor Affiliates and waiving over $100 million in claims. Concurrently, MTI will record a $290 million charge in the second quarter of 2026 for estimated costs. The company maintains its talc is safe, with the core dispute still pending before the U.S. District Court.
Key Highlights
- Minerals Technologies filed a Parent Plan of Reorganization for its subsidiaries' Chapter 11 cases.
- The plan includes funding a Talc Personal Injury Trust with $450 million from Non-Debtor Affiliates.
- A channeling injunction under section 524(g) will address current and future talc-related claims.
- Non-Debtor Affiliates will waive over $100 million in claims against the Debtors.
- MTI will record a $290 million charge in Q2 2026 to increase its reserve for estimated costs.
- The U.S. District Court is determining if talc sold by BMI OldCo caused asbestos-related diseases.
Price Impact
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