Bankrupt Imerys Talc’s Disclosures Again Called Deficient (1)

Oct. 27, 2020, 10:13 PM; Updated: Oct. 28, 2020, 2:18 PM

Imerys Talc America Inc. is meeting the same objections to its bankruptcy plan disclosures that it faced in three prior iterations.

The disclosure statement, which should give voting creditors adequate information to decide whether to support a proposed plan, is utterly lacking, according to seven objections filed Monday and Tuesday in the U.S. Bankruptcy Court for District of Delaware.

Among the objectors is Johnson & Johnson, a co-defendant in thousands of cases brought by users of the corporate giant’s talcum powder products who claim asbestos-related injuries.

None of the four versions of the plans and accompanying disclosure statements Imerys submitted...

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