U.S. Bankruptcy Judge Christopher Lopez for the Southern District of Texas. Courtesy photo 'Something Really Bad Happened': J&J's Talc Bankruptcy Vote Under Attack
At a hearing this month, U.S. Bankruptcy Judge Christopher Lopez in Houston said he would schedule a trial in late January or early February to determine whether J&J manipulated its bankruptcy plan's vote.
October 28, 2024 at 07:08 PM
7 minute read
What You Need to Know
- J&J subsidiary Red River Talc filed for Chapter 11 last month after more than 75% of about 93,500 talc claimants voted in favor of the plan.
- In a flurry of motions, the coalition has accused J&J of conducting a 'rigged election' that is 'tantamount to vote purchasing' and has asked for access to the sealed voting tabulation.
- J&J said the only ones challenging the vote are 'six plaintiff law firms, who stand to benefit financially outside of bankruptcy.'
The presidential vote is about one week away, but the ballots in Johnson & Johnson's talc bankruptcy have lawyers already asking for a recount.
At an Oct. 21 hearing, lawyers for thousands of talcum powder claimants clamored to crack open the confidential vote tabulation behind J&J's $9 billion prepackaged bankruptcy plan. J&J's lawyers insisted that 83% of talc claimants supported the plan, but Eric Goodman, of Brown Rudnick in Washington D.C., representing a group called the Coalition of Counsel for Justice for Talc Claimants, told U.S. Bankruptcy Judge Christopher Lopez, of the Southern District of Texas, to cast doubt on the result.
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