Former Talc Miner Cyprus May File Bankruptcy This Month: Filing

Former talc miner Cyprus Mines Corp. may file for Chapter 11 bankruptcy in the coming weeks as part of a settlement with Imerys Talc America, court papers show.

• The settlement, outlined in Imerys Talc’s Chapter 11 bankruptcy plan, would release Cyprus Mines of asbestos claims in exchange for $130 million paid into a personal injury claims trust
  • Imerys Talc and Cyprus Mines have battled over who owns certain insurance policies that cover legal costs related to thousands of asbestos lawsuits that sent the Imerys unit into bankruptcy in 2019
  • EARLIER: Talc Miner Can Tap Insurance for Claims Against J&J...