Court approves $535 million settlement between bankrupt Whittaker and Berkshire insurance unit
A New Jersey bankruptcy judge approved a $535 million talc claims settlement, overruling objections that payouts were too small. Reuters reports the decision.
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what happened
A US bankruptcy judge in New Jersey, Michael Kaplan, approved a $535 million settlement between the defunct talc supplier Whittaker Clark & Daniels and the insurance unit of Berkshire Hathaway, according to Reuters. The judge found the deal fair and reasonable, despite objections from claimants who said the payouts were too small.
Claimants argued the agreement was an insider arrangement between the bankrupt company and its former owners, reached without their input. The court also denied their request to sue Brenntag, National Indemnity Co. and other potential successors for a larger contribution. Whittaker filed for bankruptcy in 2023, citing lawsuits from roughly 2,700 people over asbestos-contaminated talc.
Attorney Suzanne Ratcliffe called the ruling "wrong" and said she plans to appeal. Claimants have also petitioned the US Supreme Court over an earlier decision in the case.
why it matters
For markets this is mainly a corporate legal matter. The sum is modest relative to Berkshire Hathaway, but Brenntag denies responsibility for Whittaker's liabilities, and further appeals could leave the question of who pays unresolved.
market impact
Berkshire Hathaway, Brenntag: legal uncertainty over talc claims, with limited direct market impact
tags
instruments
sources
- Judge approves defunct talc supplier's $535 million settlement with Berkshire affiliate — Reuters, 23 October 2026 at 22:13 UTC
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