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The corporate shell of an ex-industrial chemical maker filed for bankruptcy after a South Carolina jury ordered it to pay more than $29 million to a woman who blamed tainted talc in cosmetic products for causing her cancer and a judge appointed a receiver to insure the award was paid.
Whittaker, Clark & Daniels Inc., which is affiliated with Berkshire Hathaway, said in a petition filed in New Jersey that it owes creditors more than $1 billion, much of it to plaintiffs’ law firms that specialize in suing companies who used the talc. The bankruptcy petition allows it to halt lawsuits while it tries to work out a payment plan.
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