Hilco Global's Advisory Role in Presperse's Historic Talc Restructuring Process

Hilco Global's Role in the Restructuring of Presperse Corporation

In a landmark event celebrated in the restructuring community, Hilco Global's dedicated turnaround practice, Getzler Henrich & Associates, successfully served as the financial advisor to Presperse Corporation during its complex 524(g) talc restructuring. This restructuring marks a significant milestone as it is believed to be the first confirmed 524(g) reorganization plan associated with talcum powder lawsuits.

On October 1, 2025, Hilco Global announced this achievement, highlighting the collaborative efforts among various stakeholders that led to the consensual resolution of ongoing and potential talc-related injury lawsuits involving Presperse. This restructuring was confirmed by Judge Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey, and subsequently affirmed by Judge Robert Kirsch of the U.S. District Court for the same district, demonstrating strong judicial support for the plan.

The journey to this successful outcome was marked by extensive collaboration between Getzler Henrich and numerous expert advisors, encompassing law firms and financial professionals. Notable collaborators included Duane Morris LLP, Kroll, and Covington & Burling LLP, who provided essential guidance to Presperse's inner workings. On the other side, Sumitomo Corporation of Americas (SCOA) was advised by Lowenstein Sandler LLP, Skadden Arps, Slate, Meagher & Flom LLP, and David Fish, while creditor interests were represented by professionals from Robinson+Cole, FCR Heather Barlow, Young Conaway Stargatt & Taylor LLP, and Ruggeri Parks Weinberg LLP.

The concerted efforts culminated in the plan's unanimous support from the talc plaintiffs who participated in the vote, showcasing a rare consensus that is often challenging to achieve in complex bankruptcy cases. Hilco Global's team, consisting of Senior Managing Director Mark Podgainy and Senior Director Charvi Gupta, played pivotal roles in steering this process forward, balancing the nuances of legal requirements while aligning interests across diverse stakeholder groups.

Hilco Global, a subsidiary of ORIX Corporation USA, is renowned for providing integrated financial services aimed at maximizing value and performance across various sectors, including retail, commercial, and real estate. Their expertise comes to the forefront when companies face complex challenges, as demonstrated by the bespoke solutions delivered to Presperse. The team's strategic oversight and commitment to aligning client interests with market realities facilitated a pathway towards a stable restructuring amid a turbulent legal environment.

As companies across sectors deal with economic disturbances and legal liabilities, the success of Presperse's restructuring serves as a beacon of hope and a model for others facing similar situations. The continuing evolution of talc litigation and its implications will be monitored closely, setting precedent for future restructurings in this challenging sector.

For more information about Hilco Global's services and insights into their extensive work with distressed businesses, visit Hilco Global's official website.