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CRIMINAL: J&J tried to create a new subsidiary to take all the liability from talc powder damage lawsuits, then declare bankruptcy to dismiss BILLIONS of dollars in trial awards

The U.S. Third Circuit Court of Appeals in Philadelphia has dismissed a Chapter 11 petition filed by a recently created subsidiary of Johnson & Johnson (J&J) called LTL Management, which [...]
United States Vladmir Putin Allison Fennell Carl Tobias Jon Ruckdeschel Koch Industries

U.S. court rejects J&J bankruptcy strategy for tens of thousands of talc lawsuits

(Reuters) -A U.S. appeals court upended Johnson & Johnson's attempt to offload into bankruptcy tens of thousands of lawsuits over its talc products, ruling the healthcare conglomerate improperly placed a subsidiary into Chapter 11 proceedings even though it did not face financial distress. The decision by the U.S. 3rd Circuit Court of Appeals in Philadelphia on Monday dismissed a Chapter 11 petition filed by a recently created J&J subsidiary in October to address more than 38,000 l...
Tom Hals Bankruptcy Court Inancial Distress Appeals Court Bankruptcy System J Amp
Source: aol.com

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