Johnson & Johnson New Subsidiary LTL Management Files for Chapter 11 Bankruptcy, Spin-Off Holds Talc Liabilities
October 14, 2021
NEW BRUNSWICK, N.J. –– A new, separate subsidiary of Johnson & Johnson that was created to “hold and manage claims in the cosmetic talc litigation,” has filed for Chapter 11 bankruptcy protection, Johnson & Johnson has announced.
In the Oct. 14 announcement, Johnson & Johnson explained that the filing is “intended to resolve all claims related to cosmetic talc in a manner that is equitable to all parties, including any current and future claimants.”
“Johnson & Johnson and its other affiliates did not file for bankruptcy protection and will continue to operate their businesses as usual,” the announcement said. “…To …