Small Talc Supplier Hits Bankruptcy With Plan To Reorganize, Create Asbestos Trust

(September 24, 2024, 3:39 PM EDT) -- TRENTON, N.J. — Two days after filing a Chapter 11 petition, a consensual plan of reorganization and the plan’s disclosure statement in New Jersey federal bankruptcy court, raw materials supplier Presperse Corp. filed a motion seeking conditional approval of the disclosure statement, which outlines the debtor’s proposal to reorganize by creating a $50 million trust and channeling all asbestos talc personal injury claims to the trust for evaluation and payment....