Togut Segal & Segal is proud to be serving as bankruptcy counsel to the Special Committee of the Board of Directors of BMI Oldco Inc. (f/k/a Barretts Minerals Inc.), a Montana-based producer of ground talc, in its Chapter 11 case in the Southern District of Texas. The Special Committee has been given extraordinary powers including the sole and exclusive authority, acting independently of management, to investigate, evaluate, and, if appropriate, prosecute estate claims and causes of action, including potential claims against the Debtors’ immediate and ultimate parent entities. The Special Committee’s mandate includes overseeing negotiations, rejecting or authorizing settlements, and determining whether any proposed resolution is fair, and in the best interests of the estate and its stakeholders. On August 18, 2025, the Bankruptcy Court entered an order approving the Togut Firm’s retention, effective as of May 27, 2025.
The Special Committee consists of Retired Bankruptcy Judge Robert D. Drain, Roger Frankel, and Shepard Hoffman, each an expert in mass tort cases.
The BMI debtors, represented by Latham & Watkins LLP, initially filed their bankruptcy cases in October 2023 to address and comprehensively resolve liabilities associated with talc production and exposure. More information about the BMI debtors’ cases can be found here.
