Imerys Talc’s Bankruptcy Plan Disclosures Widely Opposed

Imerys Talc America‘s disclosure statement in support of its bankruptcy plan has been met with multiple objections, led by corporate giant Johnson & Johnson.

The disclosure statement is supposed to provide enough information to allow creditors or would-be investors to evaluate a proposed Chapter 11 plan. But the one Imerys filed lacks critical information about how consumers injured by asbestos-contaminated talc products will be compensated, according to at least seven objections filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware.

Imerys’ proposed bankruptcy plan would create a trust under a special bankruptcy law designed to address ...