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Third Circuit Dismisses J&J Affiliate LTL's Talc Liability Chapter 11 Filing; "Good Faith" Under 1112(b) Requires Financial Distress | Cadwalader, Wickersham & Taft LLP

Executive Summary: On January 30, 2023, the U.S. Court of Appeals for the Third Circuit (the โ€œCourtโ€) issued an opinion in In re LTL Management, LLC, No. 22-2003, 2023...
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3rd Circuit Rejects Johnson & Johnson's Effort To Set Up Subsidiary In Bankruptcy Court To Resolve Talc Asbestos Claims | Maron Marvel Bradley Anderson & Tardy LLC

On January 30, 2023, the Third Circuit dismissed Johnson & Johnson (J&J)โ€™s subsidiary LTLโ€™s Chapter 11 bankruptcy petition because the facts did not support the financial distress...
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