Former talc miner Cyprus Mines Corp. filed Chapter 11 as part of a $130 million settlement with bankrupt Imerys Talc America Inc. over who owns insurance policies covering legal costs related to asbestos injury lawsuits.
Cyprus, which filed for bankruptcy Thursday in the U.S. Bankruptcy Court for the District of Delaware, listed assets of between $10 million and $50 million, and liabilities of between $1 million and $10 million.
The settlement, detailed last month in Imerys’ Chapter 11 plan, released Cyprus from asbestos claims in exchange for putting $130 million into a personal injury claims trust that would split payments ...
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