While bankruptcies can prove highly disruptive and stressful to corporate law departments, the Chapter 11 proceeding may not take too great of a toll on the metro Atlanta-based legal team at Imerys Talc America Inc., experts told Corporate Counsel.
The subsidiary of Paris-based Imerys, which supplies talc for Johnson & Johnson Services Inc.’s baby powder, as well as to other manufacturers for their products, recently filed for bankruptcy protection, citing the 14,650 claimants who allege that its product causes cancer. Two other units of the company also filed for protection.
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