LTL Management Refiles for Ch. 11, Proposes $8.9 Billion Settlement of Talc Claims
April 4, 2023
TRENTON, N.J. — LTL Management LLC has refiled for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey, seeking approval of a reorganization plan that will purportedly resolve all claims stemming from talc litigation against Johnson & Johnson and its affiliates.
In an April 4 press release, J&J said it will “contribute up to a present value of $8.9 billion, payable over 25 years, to resolve all the current and future talc claims, which is an increase of $6.9 billion over the $2 billion previously committed in connection with LTL Management’s initial bankruptcy …