Kris Hansen of Paul Hastings. Courtesy photo Chapter 11 Reorganization Plan Filed in J&J Talc Bankruptcy: 'Pennies on the Dollar'
A Johnson & Johnson subsidiary filed its Chapter 11 reorganization plan on Monday, but lawyers for talc claimants already raised concerns about it at a Tuesday hearing.
May 16, 2023 at 03:59 PM
5 minute read
What You Need to Know
- Johnson & Johnson's Erik Hass said the plan 'represents significant progress' toward resolving claims over its talcum powder products.
- At a Tuesday hearing, U.S. Chief Bankruptcy Judge Michael Kaplan denied the talc committee's request to suspend the Chapter 11 case.
- The judge, citing concerns about rushing the process, also pushed back a four-day dismissal hearing to either June 27 or July 10.
A Johnson & Johnson subsidiary barreled ahead this week with the filing of a Chapter 11 reorganization plan, even as a hearing looms to dismiss its entire bankruptcy.
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