Hearing on Dismissal Motion in LTL Management Proceedings Concludes; Debtor Argues Dismissal ‘Only Benefits Plaintiffs’ Firms’

TRENTON, N.J. –– LTL Management has delivered its closing argument in the final day of a week-long hearing addressing a motion to dismiss its Chapter 11 Bankruptcy petition, concluding that “the only potential beneficiaries are plaintiffs’ firms.”

During its summation, heard by Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey on Feb. 18, LTL Management maintained that its petition was filed in good faith and that continuing in the tort system was “untenable.”

In concluding its summation, LTL Management also noted that it would agree to an independent investigation into the Chapter 11 …