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J&J Unhappy With Imerys Ch. 11 Plan Disclosures
Law360 (January 12, 2021, 8:15 PM EST) Bankrupt talc producer Imerys Talc America presented its Chapter 11 plan disclosure statement Tuesday in Delaware court, drawing objections from former client Johnson & Johnson over its obligations to defend the bankruptcy estate against thousands of personal injury and wrongful death claims.
During the virtual hearing, Johnson & Johnson attorney Ronit J. Berkovich of Weil Gotshal & Manges LLP opposed the disclosures, saying the statement doesn t accurately describe how the claims of talc plaintiffs will be treated under the plan.
According to Berkovich, Imerys said claimants could have their personal injury and wrongful death claims associated with exposure to asbestos-tainted talc.
J&J Opposes Former Talc Supplierâs Bankruptcy Plan to Resolve Cancer Claims
Johnson & Johnson says Imerys Talc America let people with talc claims dictate their damages
Johnson & Johnson objects to the bankruptcy plan of Imerys Talc America, a former supplier of talc for Johnsonâs Baby Powder. Photo: lucas jackson/Reuters By Jan. 12, 2021 8:05 pm ET Imerys SA is pressing ahead in an effort to get out from under lawsuits over its U.S. mining operation, Imerys Talc America Inc., over the protests of health-care company Johnson & Johnson .
The Imerys talc-mining business, which supplied talc for Johnsonâs Baby Powder, had been hit with lawsuits claiming the product caused cancer. It was placed into chapter 11 protection in 2019 and sold in 2020 for $223 million, with the proceeds earmarked for a trust to pay cancer claims. It is now trying to win court permission to seek creditor approval of its bankruptcy repayment