Case Study: Miyoshi America achieves a swift Chapter 11 plan confirmation with Stretto

Miyoshi America confirms Chapter 11 in 6 weeks with Stretto

Miyoshi America, a subsidiary of Miyoshi Kasei, Inc., faced the challenge of defending hundreds of lawsuits related to its talc-based products while trying to avoid liquidation and preserve its business. The company engaged its legal counsel, who then brought in the vendor Stretto to serve as claims, noticing, and solicitation agent to help execute a prepackaged Chapter 11 plan.

Stretto implemented a secure master ballot process for law firms to vote on behalf of their clients, which included a custom system to verify ballots and handle protected health information. This rigorous process resulted in the Court confirming Miyoshi's Plan of Reorganization in just six weeks, with over 99% of claim holders voting to accept the plan. Stretto's work allowed the company to emerge from bankruptcy, establish a trust for future claimants, and continue its operations free from the litigation.

Miyoshi America