LTL Management Says It Will No Longer Pursue Appeal of 3rd Circuit Order Dismissing First Chapter 11 Petition

PHILADELPHIA –– Just hours after filing a second Chapter 11 petition in which it proposed a $8.9 billion settlement fund for talcum powder claimants, LTL Management filed a notice stating that it will “no longer pursue the Appeals” of the order dismissing its first Chapter 11 petition.

In a brief filed April 4 at 8:46 p.m. in the U.S. Bankruptcy Court for the District of New Jersey, LTL Management stated that it “hereby provides notice that it will no longer pursue the Appeals.”

“Accordingly,” the notice said, “pursuant to the Dismissal Order, the TCC is dissolved as of April 4, …