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In re Garlock Sealing Technologies, LLC is a court case heard in the United States District Court for the Western District of North Carolina which involves the entry into bankruptcy proceedings by Garlock Sealing Technologies, once a manufacturer of coated asbestos gaskets, as a result of potential liability from current and future settlements. [1]
The Chapter 11 filing was the fourth-largest in US history, following Lehman Brothers Holdings Inc., Washington Mutual and WorldCom Inc. [14] A new entity with the backing of the United States Treasury was formed to acquire profitable assets, under section 363 of the Bankruptcy Code, with the new company planning to issue an initial public ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $8 billion proposed settlement that would end tens of ...
J&J's plan is focused on resolving claims in bankruptcy from women with ovarian and other gynecological cancers allegedly linked to talc. J&J has settled most mesothelioma cases outside of bankruptcy.
NEW YORK (Reuters) -Johnson & Johnson has cleared a key threshold of support for its proposed $6.5-billion settlement of tens of thousands of lawsuits alleging its baby powder and other talc ...
Typically an asbestos plaintiff is exposed to a mixture of products during a thirty-year career in the building trades. It takes between twenty and fifty years from first exposure to the development of asbestos-caused cancer, so work histories, employment, military and social security records are used to help prove the plaintiff's exposure to various asbestos products throughout his or her career.
After more than a year of negotiations, the Easterday bankruptcy settlement is nearing a conclusion for dozens of businesses owed money.. At a recent hearing, lawyers and Judge Whitman Holt of the ...
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