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Johnson & Johnson's proposed $8.9 billion settlement of thousands of lawsuits alleging that its talc products cause cancer faces a crucial hurdle this week as a U.S. bankruptcy judge in New Jersey ...
The company has around $500 million to $1 billion in total liabilities, as stated in the bankruptcy petition. Do It Best also agreed to take on about $45 million in contracts and other obligations ...
Judge Mary Walrath of the U.S. District Bankruptcy Court in Delaware, where Bitwise was incorporated and filed for bankruptcy, issued an order Wednesday finalizing the settlement. Approximately ...
The settlement cost Tecumseh approximately $7 million, according to a report in Crain's Detroit Business. The lawsuit, which was consolidated before U.S. District Judge Sean Cox in 2009, centers on a secret meeting between executives of the companies as well as Panasonic Corp., and an Italy-based components company.
In July 2018, NRG Energy released GenOn and paid $125 million in net payment during GenOn's bankruptcy settlement. [59] In 2018, NRG Energy reduced its generation capacity to 23,000 MW. They also reduced their power plants from 100 to 40, but they retained 2.9 million retail customers. [9]
Saab Automobile was sold to Spyker Cars N.V. in 2010 after a deal between Spyker and then-current owner General Motors.After struggling to avoid insolvency throughout 2011, the company petitioned for bankruptcy following the failure of a Chinese consortium to complete a purchase of the company; the purchase had been blocked by former owner GM, which opposed the transfer of technology and ...
The court can hold hearings to estimate the debtor’s total liability, then the parties negotiate a settlement of that liability, and upon exiting bankruptcy, the company can move forward without ...
Harrington v. Purdue Pharma L.P., 603 U.S. ___ (2024), is a United States Supreme Court case regarding Chapter 11 of the Bankruptcy Code. [1] The case addressed the 2022-2023 Purdue Pharma bankruptcy settlement and whether, under Chapter 11 of the Bankruptcy Code, a release extinguishing claims held by nondebtors against nondebtor third parties, without the claimants’ consent could move forward.