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The company contends a bankruptcy settlement pays claimants fairly and equitably as opposed to the civil justice system in which most plaintiffs receive nothing while some win outsize awards.
A federal judge on Friday rejected a bid by a group of cancer victims to block Johnson & Johnson from pursuing a proposed bankruptcy settlement of tens of thousands of lawsuits alleging the ...
Before the bankruptcy, J&J faced costs from $3.5 billion in verdicts and settlements, including one in which 22 women were eventually awarded a judgment of more than $2 billion, according to ...
Harrington v. Purdue Pharma L.P., 603 U.S. 204 (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.
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]
Other than their connection to a bankruptcy proceeding, adversary proceedings are largely similar to a standard lawsuit in federal district court. The suit is opened by a complaint filed with the Bankruptcy Court, and proceeds through the same stages of litigation, including discovery and trial (including jury trial in appropriate cases).
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