Company and petition
Miyoshi America, Inc., headquartered in Dayville, Connecticut, develops and manufactures surface-treated pigments and mineral substrates used across cosmetics and personal care formulations. On April 27, 2026, the company filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas.
In court papers, the debtor ties the filing to sustained pressure from talc- and asbestos-related personal injury claims. Those cases materially affected liquidity: even after discontinuing talc-based product lines in mid-2025 and contesting liability, the company cites a growing docket of mesothelioma cases, rising defense spend, and tightening insurance capacity as factors that made an out-of-court fix unlikely without a court-supervised global resolution.
Prepackaged plan and trust structure
The filing describes a prepackaged Chapter 11 path: key terms were negotiated before the petition with a future claimants’ representative and an ad hoc committee aligned with a large share of pending talc claims. Following solicitation, the debtor reports acceptance well above typical confirmation thresholds.
The contemplated plan would implement relief under section 524(g) of the Bankruptcy Code, including a channeling injunction and a dedicated personal injury trust. Funding described in public summaries includes a cash contribution at the effective date (with parent support) and a short-term note secured by a pledge of a majority stake in reorganized equity, alongside an equity allocation for the sponsor providing that funding.
DIP facility and operations
To fund the case and support ordinary course operations, the debtor arranged debtor-in-possession financing from its parent, Miyoshi Kasei, Inc. Public descriptions reference new money plus a roll-up of prepetition secured intercompany debt. The company states that core operations continue and that it remains largely current on a defined set of prepetition trade obligations.
Schedules summarized in early filings place reported assets and liabilities each in the $10 million to $50 million range, with an indication that there may be funds available for unsecured creditors under the plan framework.
Case identifier
The main bankruptcy case is numbered 26-90522 in the Southern District of Texas. Use the case number when searching CM/ECF or third-party docket tools for pleadings, notices, and hearing calendars.
Parties and advisors (from public filings)
Roles below reflect commonly disclosed retention and case-administration notices; verify on the docket for amendments.
Debtor counsel
- Charles S. Kelley — Mayer Brown LLP
Financial advisor
- Alvarez & Marsal North America, LLC
Investment banker
- Smith Goffman Partners
Corporate signatory (example)
- Edward Houlihan — Vice President
Claims and noticing agent
- Stretto, Inc.
Equity security holders (disclosure snapshot)
- Miyoshi Kasei, Inc. — 10% or more (parent)
How to follow the docket
Chapter 11 matters with material liabilities often generate frequent claims objections, cash collateral hearings, and plan supplement filings. If you are a creditor, shareholder, or counterparty, monitor the claims bar date, any channeling injunction hearings, and confirmation milestones. This site explains the public narrative only; it is not legal or investment advice.