Organization
LTL Management LLC
Company created inside J&J in October 2021 to hold the talc claims, which then filed for Chapter 11 bankruptcy.
- Also known as
- LTL
In re LTL Management, LLC
- Decision overturned by U.S. Court of Appeals for the Third Circuit: bankruptcy petition dismissed: LTL was not in financial distress, so it did not meet the Code's good-faith requirement 1
Connections 3
decision overturned by
- U.S. Court of Appeals for the Third Circuit 30 Jan 2023 bankruptcy petition dismissed: LTL was not in financial distress, so it did not meet the Code's good-faith requirement Primary record 1
involved in
- J&J talc bankruptcies created 12 October 2021 to hold the talc claims; filed for Chapter 11 two days later Primary record 1
part of
- Johnson & Johnson Primary record 1
Timeline 1 date
- 30 Jan 2023 LTL Management LLC decision overturned by U.S. Court of Appeals for the Third Circuit
Proof 1 source
-
In re LTL Management, LLC, Nos. 22-2003 and others, opinion of the Third Circuit, U.S. Court of Appeals for the Third Circuit, 30 Jan 2023.
Primary record
Only a putative debtor in financial distress can do so. LTL was not. Thus we dismiss its petition.
Two days later, LTL filed a petition for Chapter 11 relief in the Bankruptcy Court for the Western District of North Carolina.
J&J’s stated goal was to isolate the talc liabilities in a new subsidiary so that entity could file for Chapter 11 without subjecting Old Consumer’s entire operating enterprise to bankruptcy proceedings.
Page history 1 change
- Add 55 stories, each checked against its sources96e92fe6
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