Judge approves defunct talc supplier's $535 million settlement with Berkshire affiliate
A US bankruptcy judge approved Whittaker Clark & Daniels' $535 million settlement with Berkshire Hathaway's insurance unit, overruling objections from talc claimants who said the deal was inadequate. The settlement resolves liabilities of National Indemnity Co. and other former corporate affiliates.
1. Settlement approved
Judge Michael Kaplan ruled that Whittaker Clark & Daniels' $535 million settlement was fair and reasonable. The deal aims to resolve liabilities of National Indemnity Co., which bought Whittaker in 2007 and assumed its liabilities, as well as other former corporate affiliates.
2. Claimants object
Whittaker filed for bankruptcy in 2023 after roughly 2,700 people alleged it supplied asbestos-contaminated talc that caused cancer. Claimants argued the settlement improperly shielded corporate affiliates and sought permission to sue National Indemnity, Brenntag and others for a higher contribution. Kaplan denied that request; an attorney for claimants said she planned to appeal.
