Imerys SA of France reports that the Plan of Reorganization proposed by the North American talc entities (Imerys Talc America, Talc Vermont, and Imerys Talc Canada) has received the support of 79.7% of the voting creditors and claimants in the U.S. talc-related litigation that was necessary to meet the 75% approval threshold required under the relevant statutory provisions applicable to their Plan.
The next step in the Chapter 11 process will be the confirmation hearing on the Plan by the relevant U.S. District Court of Delaware, which is expected this summer, with final approval of the Plan expected by the end of 2021.
Volume 35, Issue 08