Judge Denies Claimants' Bid to Disrupt J&J Talc-Unit Bankruptcy
May 04 2022 - 2:44PM
Dow Jones News
By Jonathan Randles
A U.S. bankruptcy judge on Wednesday declined to disrupt the
chapter 11 case of Johnson & Johnson's talc unit, saying he
wants to foster settlement discussions between the company and
injury claimants.
Judge Michael Kaplan of the U.S. Bankruptcy Court in Trenton,
N.J., granted a request by J&J's LTL Management LLC to steer
the case until at least September, denying a bid by injury
claimants who sought the ability to propose a rival settlement plan
in the future.
LTL, J&J and the injury claimants are holding meditations in
an effort to strike a consensual resolution of talc injury
liability.
If the mediation isn't successful and LTL doesn't strike a
consensual chapter 11 plan, Judge Kaplan would be open to allowing
a rival settlement plan, he said.
Write to Jonathan Randles at jonathan.randles@wsj.com
(END) Dow Jones Newswires
May 04, 2022 14:29 ET (18:29 GMT)
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