On June 25, 2024, the Third Circuit Court of Appeals rendered an opinion affirming the New Jersey Bankruptcy Court’s decision to dismiss LTL Management/Johnson & Johnson’s second bankruptcy case for “want of good faith because it was not in financial distress” in IN RE: LTL Management, LLC.
In 2021, Johnson & Johnson first attempted to use bankruptcy to permanently settle all talc claims after substantial litigation had been initiated. Through a complicated series of corporate transactions, J&J claims to have transferred all talc liability to …
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