Request by TCC to Suspend Proceedings in LTL Chapter 11 Case Denied by Bankruptcy Judge
May 16, 2023
TRENTON –– A motion by the Official Committee of Talc Claimants to suspend LTL Management LLC’s Chapter 11 case has been denied by a New Jersey bankruptcy judge, how concluded that he “intends to proceed efficiently and quickly as deemed reasonable.”
Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey denied the motion during a hearing on May 16.
The TCC had filed a cross-motion for entry of an order temporarily suspending the proceedings under 11 U.S.C. §§ 105 and 305 on May 4. During the hearing, counsel for the proposed TCC argued that …