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Replies to post #1027 on Johnson and Johnson (JNJ)
DewDiligence
07/29/23 2:52 PM
#1033 RE: DewDiligence #1027
A New Jersey bankruptcy judge threw out the second chapter 11 case that Johnson & Johnson filed to resolve its mass talc liabilities, again shutting down the healthcare-product company’s plan to achieve an $8.9 billion settlement [see #msg-171617699]. Judge Michael Kaplan of the U.S. Bankruptcy Court in Trenton, N.J., said that J&J affiliate LTL Management LLC, created to carry the company’s talc-related liabilities into bankruptcy, wasn’t in sufficient financial distress to warrant granting it the legal protections of chapter 11.