Berkshire Affiliate Whittaker Strikes $535 Million Bankruptcy Deal

Defunct talc supplier Whittaker, Clark & Daniels Inc. says it’s struck a $535 million bankruptcy settlement to resolve claims against companies associated with Berkshire Hathaway Inc., chemical distributor Brenntag, and railway services company Deutsche Bahn AG.

The settlement, which requires bankruptcy court approval, is a “significant achievement” and is enough—or nearly enough—to cover all of the company’s tort liabilities, Whittaker told the US Bankruptcy Court for the District of New Jersey in a filing Tuesday.

While court-ordered mediation failed to lead to a consensual agreement among all the parties, the settlement nonetheless is the best deal “regardless of whether ...