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The court set a July 16 evidentiary hearing to determine whether the filed plan has a reasonable probability of confirmation, with witness and exhibit lists due July 14. The hearing will instead become a scheduling conference if BMI Oldco and Minerals Technologies Inc. jointly state beforehand that they are ready to proceed with confirmation. In that event, the court intends to target confirmation for late August or early September and complete the disclosure and confirmation process roughly 45 days after July 16, according to the hearing minutes and scheduling order.
The order puts an immediate decision point around the MTI-backed plan: absent agreement between the debtor and MTI, proponents must first establish a credible path to confirmation through evidence; with agreement, the case moves directly onto an expedited confirmation calendar. Professionals should track the July 14 submissions and any joint readiness statement because they will reveal whether the parties have resolved the plan-process dispute or are preparing to litigate confirmability.
BMI Oldco now has a hard near-term restructuring deadline: at the June 18 status conference, the court stated that if a proposed Chapter 11 plan with a reasonable probability of confirmation is not filed by June 29, 2026 at 5:00 p.m., the case will be dismissed. The court also set a July 6, 2026 hearing for parties to argue whether that deadline was satisfied, while allowing mediation to continue without court compulsion, according to the Courtroom Minutes.
The deadline follows the court’s May mediation order appointing retired Judge Robert Drain as mediator among the Debtors, Special Committee, Minerals Technologies parties, Official Committee of Unsecured Creditors, and Future Claimants’ Representative, with the further hearing framework tied to mediation status and the Committee’s dismissal request in the Order Appointing Mediator. The case has shifted from mediation process management to a binary plan-or-dismissal posture, making June 29 the date stakeholders need to track.
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