Minerals Technologies Inc. Files Plan of Reorganization in BMI OldCo Chapter 11 Cases to Comply with Court Deadline

Minerals Technologies (NYSE: MTX) filed a Parent Plan of Reorganization in the BMI OldCo Chapter 11 cases to meet a Bankruptcy Court deadline.

Rhea-AI Summary

Minerals Technologies (NYSE: MTX) filed a Parent Plan of Reorganization in the BMI OldCo Chapter 11 cases to meet a Bankruptcy Court deadline. The proposed plan includes a $450 million Talc Personal Injury Trust, a channeling injunction, releases for Non-Debtor Affiliates, and a >$100 million claim waiver. MTI will record a $290 million Q2 2026 charge to increase reserves while District Court proceedings on BMI OldCo talc safety continue.

Positive

• Parent Plan proposes funding a $450 million Talc Personal Injury Trust
• Non-Debtor Affiliates propose waiving more than $100 million of claims
• Plan aims to resolve all current and future talc-related claims through a trust structure

Negative

• MTI will record a $290 million charge in Q2 2026 to increase reserves
• Parent Plan contemplates $450 million of funding for talc-related claims
• Non-Debtor Affiliates would release estate claims and waive over $100 million in receivables

Argus Jun 30 session

-4.47% close to close Open Argus

Details

News Market Reaction – MTX

On Jun 30, the first trading day after this news, MTX closed 4.47% below the previous close.

Data tracked by StockTitan Argus for the Jun 30 session.

Market Context

This announcement outlines a Plan of Reorganization that includes a $450 million talc trust and a $2...

Analysis

This announcement outlines a Plan of Reorganization that includes a $450 million talc trust and a $290 million reserve charge, reducing legal uncertainty but crystallizing costs. Watch District Court outcomes and how asbestos findings shape final recoveries.

Key Figures

Talc Personal Injury Trust funding: $450 million Waived claims: $100 million Charge to increase reserve: $290 million

Talc Personal Injury Trust funding

$450 million

Funding from Non-Debtor Affiliates for current and future talc-related claims

Waived claims

$100 million

Non-Debtor Affiliates’ waiver of claims against Debtors

Charge to increase reserve

$290 million

Recorded in Q2 2026 to increase reserve for estimated costs

Historical Context

5 past events · Latest: May 26

5 events

1. May 26

   PFAS remediation event

   24h Move

   +1.7%

   Subsidiary CETCO highlighted PFAS remediation technology at a U.S. EPA roundtable.

2. May 19

   Dividend declaration

   24h Move

   -2.8%

   Board declared a regular quarterly cash dividend on common stock.

3. Apr 30

   Q1 2026 earnings

   24h Move

   +5.6%

   Reported higher sales and EPS growth with solid operating margins in Q1.

4. Apr 02

   Earnings call announcement

   24h Move

   -3.0%

   Announced timing and access details for the Q1 2026 earnings call.

5. Feb 27

   Investor conferences

   24h Move

   -0.7%

   Planned participation in several March 2026 investor conferences and symposia.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

plan of reorganization, chapter 11, talc personal injury trust, channeling injunction, +1 more

5 terms

plan of reorganization regulatory

"it has filed a Plan of Reorganization (the “Parent Plan”) in the Chapter 11 cases"

A plan of reorganization is a formal blueprint used during bankruptcy to rearrange a company’s debts, assets and ownership so it can keep operating. It lays out who gets paid, what creditors and shareholders receive, and how the business will change going forward; think of it as a court-approved debt and recovery roadmap that decides whether investors keep value, receive new securities or cash, or lose their stake.

chapter 11 regulatory

"Plan of Reorganization (the “Parent Plan”) in the Chapter 11 cases of its subsidiaries"

Chapter 11 is a U.S. bankruptcy process that lets a financially distressed company keep operating while it reorganizes its debts and business plan under court supervision. Think of it as a formal pause that allows the company to renegotiate payments, shed contracts or assets, and seek a path to profitability instead of being liquidated; investors watch it because it can change the value and priority of claims, equity dilution, or the likelihood of recovery.

talc personal injury trust regulatory

"The funding of a Talc Personal Injury Trust with $450 million from the Non-Debtor Affiliates"

A talc personal injury trust is a legal fund set up to receive and pay claims from people who allege harm from talc-containing products. It lets a company move current and future legal claims into a separate pool with rules for evaluating and paying claims; for investors this can make a company’s potential legal costs more predictable, reduce immediate cash shocks, and clarify the company’s remaining risk exposure.

channeling injunction regulatory

"Issuance of a channeling injunction pursuant to section 524(g) of the Bankruptcy Code"

A channeling injunction is a court order that redirects all lawsuits and future claims over a specific harm toward a single claims process or trust instead of allowing plaintiffs to sue the original company or other parties. For investors, it matters because it isolates and limits a company’s legal exposure and future cash liabilities—like funneling all traffic onto one toll bridge—so it can stabilize potential losses, affect recovery values, and change risk on the company’s balance sheet.

section 524(g) regulatory

"Issuance of a channeling injunction pursuant to section 524(g) of the Bankruptcy Code"

Section 524(g) of U.S. bankruptcy law lets a bankrupt company move present and future asbestos-related claims into a court-approved trust and obtain a court order that directs those claims to the trust instead of the company. Think of it as setting up a separate, funded safety box to handle a known stream of liabilities so the business itself can emerge from bankruptcy; for investors this changes who bears the cost of large liability claims and can materially affect the company's balance sheet, future payouts, and recovery prospects.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, June 29, 2026 (GLOBE NEWSWIRE) -- Minerals Technologies Inc. (NYSE: MTX) (“MTI”), a leading, technology-driven specialty minerals company, today announced that, together with certain of its affiliates (the “Non-Debtor Affiliates”), it has filed a Plan of Reorganization (the “Parent Plan”) in the Chapter 11 cases of its subsidiaries BMI OldCo Inc. (formerly Barretts Minerals Inc.) and its affiliated debtors (collectively, the “Debtors”) pending before the U.S. Bankruptcy Court for the Southern District of Texas.

The Parent Plan, as described below, would present a viable, efficient, and advantageous resolution of these Chapter 11 cases, providing claimants with significant recoveries while bringing the proceedings to an orderly and expeditious conclusion.

Importantly, while the Parent Plan is a serious, good faith, and confirmable proposal, today’s filing is a procedural step to satisfy a deadline imposed by the Bankruptcy Court. The broader dispute regarding these cases remains pending before the U.S. District Court for the Southern District of Texas, which on June 22, 2026 adopted the Bankruptcy Court’s recommendation that the District Court determine the threshold issue of whether any talc sold by BMI OldCo contained sufficient quantity and form of asbestos to potentially cause asbestos-related diseases. The District Court proceedings are ongoing.

MTI looks forward to a judicial forum to prove that the lawsuits against BMI OldCo are meritless and that all talc sold by BMI OldCo is and always has been safe.

According to the Bankruptcy Court's recommendation to the District Court, the Chapter 11 process – including the Plan confirmation process – should be abated until the District Court makes a final determination on the central issue of these cases.

“This Plan reflects our continued commitment to a fair and efficient resolution that provides certainty for all stakeholders, including claimants,” said Douglas T. Dietrich, Chairman and Chief Executive Officer of MTI. “We have supported this process from the start and today's filing, in accordance with the Bankruptcy Court's deadline, continues that commitment. Ultimately, the issues at the heart of these cases are before the District Court, and our position has not changed: BMI OldCo’s talc has always been safe.”

The Parent Plan filed today would provide for, among other things:

• The funding of a Talc Personal Injury Trust with $450 million from the Non-Debtor Affiliates for the payment of current and future talc-related claims;
• Issuance of a channeling injunction pursuant to section 524(g) of the Bankruptcy Code to address all current and future talc-related claims through the Trust;
• Release of estate claims against the Non-Debtor Affiliates; and
• The Non-Debtor Affiliates’ waiver of more than $100 million in claims against the Debtors related to pre-petition and post-petition funding.

Concurrent with the filing of the Parent Plan, MTI will record a charge of $290 million in the second quarter of 2026 to increase the Company’s reserve for estimated costs.

MTI remains fully committed to achieving a resolution of these cases that provides the best result for creditors as expeditiously as possible and will continue to fund reasonable and necessary administrative expenses of the Debtors’ estates, as it always has.

About Minerals Technologies Inc.
Minerals Technologies Inc. (NYSE:MTX) is a global, technology-driven specialty minerals company that sources, manufactures, sells, and distributes a wide range of minerals and mineral-based products and services. We utilize our global mineral reserves, combined with our core technologies and applications, to deliver innovative products that are an essential part of everyday life. We serve customers in consumer and industrial markets worldwide, have 4,000 employees in 34 countries, and reported global sales of $2.1 billion in 2025. For further information, visit www.mineralstech.com.

Investor Relations Contact
Lydia Kopylova
lydia.kopylova@mineralstech.com

Media Contact
Stephanie Heise
stephanie.heise@mineralstech.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Minerals Technologies (NYSE: MTX) announce on June 29, 2026 regarding BMI OldCo’s Chapter 11 cases?

Minerals Technologies announced filing a Parent Plan of Reorganization in BMI OldCo’s Chapter 11 cases. According to MTI, the plan is a procedural filing to meet a Bankruptcy Court deadline and proposes a framework to resolve current and future talc-related claims through a trust.

What is the $450 million Talc Personal Injury Trust proposed by Minerals Technologies (MTX)?

The Parent Plan proposes funding a Talc Personal Injury Trust with $450 million from Non-Debtor Affiliates. According to MTI, this trust would pay current and future talc-related claims and be paired with a channeling injunction directing all such claims to the trust.

How will the June 29, 2026 Parent Plan filing affect MTX’s financials?

Minerals Technologies will record a $290 million charge in Q2 2026 to increase reserves. According to MTI, this charge is concurrent with the Parent Plan filing and reflects estimated costs associated with resolving current and future talc-related claims through the proposed trust.

What legal issue is the U.S. District Court considering in the BMI OldCo talc cases involving MTX?

The U.S. District Court will decide whether any BMI OldCo talc contained asbestos sufficient to cause disease. According to MTI, Bankruptcy Court proceedings, including plan confirmation, should be abated until the District Court issues a final determination on this threshold issue.

How does the proposed Parent Plan impact claims held by Minerals Technologies’ Non-Debtor Affiliates against BMI OldCo?

The Parent Plan contemplates Non-Debtor Affiliates waiving more than $100 million of claims against the Debtors. According to MTI, these waived claims relate to pre-petition and post-petition funding and are part of the broader proposed resolution of talc-related liabilities.

What is the proposed channeling injunction in the Minerals Technologies (MTX) Parent Plan?

The plan proposes a channeling injunction under section 524(g) to route all talc-related claims to the trust. According to MTI, this injunction would address both current and future talc-related claims exclusively through the Talc Personal Injury Trust funding mechanism.