Group of Insurers File Objection to Red River Prepackaged Plan, Calling it ‘Patently Uncomfortable’

HOUSTON –– A group of insurers have filed an objection to the prepackaged plan of reorganization proposed in the Red River Talc Chapter 11 bankruptcy, calling it “patently uncomfortable.”

In a Nov. 7 objection filed in the U.S. Bankruptcy Court for the Southern District of Texas, the insurers argued that they do not believe the Plan can “satisfy the applicable confirmation requirements of the Bankruptcy Code, and intend to demonstrate this to the Court in plan confirmation briefing and at the confirmation hearing.”

“J&J has made clear that it intends to saddle its insurers with responsibility to pay for the …