Cosmetics Material Maker Gets Asbestos Bankruptcy Plan Approved

Miyoshi America Inc., a processor of cosmetic product ingredients, won bankruptcy court approval of a $20 million plan to settle current and future talc injury lawsuits it fully negotiated before entering Chapter 11.

The US-based unit of Miyoshi Kasei Inc. on Wednesday became the first company to win court approval of a prepackaged Chapter 11 plan designed to comprehensively resolve claims tied to its production of allegedly asbestos-tainted talc. The plan, which requires final approval from a federal district court before taking effect, was fully negotiated and supported by a creditor vote ahead of Miyoshi’s filing for bankruptcy in late ...