Cyprus Mines Corp. Files Voluntary Petition for Chapter 11 Bankruptcy under Weight of Asbestos Talcum Powder Litigation

WILMINGTON, Del. –– Cyprus Mines Corp. has filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code, initiating the bankruptcy proceedings after years of defending itself against asbestos-related talcum powder claims.

The Chapter 11 petition was filed on Feb. 11 in the U.S. Bankruptcy Court for the District of Delaware.

In it, Cyprus Mines stated that it has between $10 and $50 million in assets and between $1 and $10 million in estimated liabilities.

“This Chapter 11 case related to the separate bankruptcy cases of three other debtors –– Imerys Talc America, Inc., …