Event
LTL Management bankruptcy over talc claims
A Johnson & Johnson subsidiary created to hold talc claims filed for bankruptcy in 2021; the Third Circuit ordered it dismissed in 2023.
- Dates
- 2021 – 30 Jan 2023
Connections 2
involved
- Johnson & Johnson parent of the subsidiary Primary record 1
- U.S. Court of Appeals for the Third Circuit decided the appeal Primary record 1
Timeline 1 date
- 2021 – 30 Jan 2023 LTL Management bankruptcy over talc claims
Proof 1 source
-
In re LTL Management, LLC, opinion of the U.S. Court of Appeals for the Third Circuit, Nos. 22-2003 and others, U.S. Court of Appeals for the Third Circuit, 30 Jan 2023.
Primary record
alleging Johnson’s Baby Powder has caused ovarian cancer and mesothelioma.
But more followed into the tens of thousands.
J&J’s stated goal was to isolate the talc liabilities in a new subsidiary
LTL Management LLC (“LTL”), holding principally Old Consumer’s liabilities relating to talc litigation and a funding support agreement from LTL’s corporate parents
Because LTL was not in financial distress, it cannot show its petition served a valid bankruptcy purpose and was filed in good faith under Code § 1112(b).
Page history 1 change
- Add 55 stories, each checked against its sources96e92fe6
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