Red River Talc Confirmation Hearing Concludes; Debtor Calls Prepackaged Plan ‘Historic,’ Opponents Say It ‘Breaks the Rules’

HOUSTON –– Red River Talc’s bankruptcy confirmation hearing has concluded, with the Debtor telling the court that, “in the end, we gave the women a chance to be heard as to whether they wanted this settlement [and] they have been heard –– this is what they want.”

Opponents of the plan urged the court to either dismiss the case or deny confirmation, arguing that the Debtor has “proffered a bankruptcy plan that breaks the rules.”

Hon. Christopher M. Lopez of the U.S. Bankruptcy Court for the Southern District of Texas heard closing arguments on Feb. 28 and adjourned the …