Executive Summary: On January 30, 2023, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued an opinion in In re LTL Management, LLC, No. 22-2003, 2023.
On January 30, 2023, U.S. Court of Appeals for the Third Circuit issued opinion In re LTL Management in which Judge Thomas L. Ambro reversed prior ruling of U.S. Bankruptcy Court for the District of New Jersey and dismissed Johnson & Johnson affiliate LTL chapter 11 petition
While legislation is pending in Congress that would require the dismissal of Chapter 11 bankruptcy cases in which the debtor has created a divisional merger, federal appeals court judges in Philadelphia heard arguments this week about whether Johnson & Johnson’s bankruptcy case was filed in good faith.
NEWARK (Legal Newsline) - The Washington Legal Foundation (WLF) is among the organizations that have filed an amicus brief arguing against the appeal of a federal judge’s decision to allow Johnson & Johnson to proceed with its bankruptcy.