Johnson and Johnson’s first bankruptcy filing for its talc subsidiary, LTL, was dismissed, and their petition for rehearing en banc was denied by the appeals court. Despite this landmark ruling by the Third Circuit Court of Appeals, J&J’s is again…
Read More J&J’s Second Attempt at Bankruptcy and Proposed $8.9 Billion Talc Settlement
On January 30, 2023, the Third Circuit Court of Appeals rejected Johnson & Johnson’s (“J&J”) use of the “Texas Two-Step” bankruptcy strategy. The unanimous decision is a sharp rebuke of the emerging litigation trend in which companies facing significant mass…
Read More Third U.S. Circuit Court of Appeals Rejects J&J’s “Texas Two-Step” Strategy
Earlier last year, Johnson & Johnson (“J&J”) created a subsidiary, LTL Management (“LTL”), which now holds all talcum powder liabilities, while only holding $2 billion in assets. The assets allocated to LTL are miniscule in comparison to the estimated $450…
Read More Johnson & Johnson’s Talc Bankruptcy has been Appealed to the Third Circuit
