Imerys Talc America seeks fourth extension of exclusive plan periods

By Caroline Salls

Pittsburgh, March 9 – Imerys Talc America, Inc. requested a fourth extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, Imerys is asking the court to extend its exclusive plan-filing period by 88 days through June 5 and the solicitation period through Aug. 7.

The company said its goal in the Chapter 11 cases is to negotiate a plan of reorganization that will resolve talc-related personal injury claims through the establishment of a funded trust and channeling injunction.

In the time since the third extension, Imerys said it has advanced negotiations with a tort claimants committee and future claims representative and other key parties in the cases regarding the formulation of a plan.

The company said it has also continued to manage a variety of litigation and negotiations with other parties.

“Granting the requested extensions will give the debtors a full and fair opportunity to continue negotiating a consensual play without the distraction, cost and delay of a competing plan process,” the motion said.

A hearing is scheduled for March 31.

Imerys SA is a Paris-based producer of industrial materials. Its subsidiaries filed bankruptcy on Feb. 13, 2019 under Chapter 11 case number 19-10289.

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