Johnson & Johnson Files Third Bankruptcy to Move Proposed $8 Billion Settlement of Talcum Powder Claims Forward

HOUSTON –– Johnson & Johnson has filed for bankruptcy for a third time, seeking to make a proposed $8 billion settlement of talcum powder ovarian cancer claims official.

The Chapter 11 petition was filed in the U.S. Bankruptcy Court for the Southern District of Texas on Sept. 20. It was filed by Johnson & Johnson’s Red River talc unit, which stated that the estimated assets totaled $1 to $10 billion and the estimated liabilities total more than $1 billion to $10 billion.

In a press release, the company said it has secured 83 percent support from claimants, far exceeding the …