Search results
Results from the WOW.Com Content Network
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 ...
The cancer victims sought a preliminary order in New Jersey on June 11 to preventing J&J from filing for bankruptcy outside the state, which would have effectively foiled the $6.48 billion ...
Johnson & Johnson has twice been unsuccessful in using a controversial bankruptcy tactic to contain lawsuits alleging its baby powder caused cancer. The third time, J&J said, will be different.
In the case of LTL, a $2 billion trust will be created, compared to $25 billion if Johnson & Johnson had declared bankruptcy. According to the filing, a company known as Old JJCI took on the baby powder related liabilities in 1979, while Johnson & Johnson remained a defendant.
In 2021, Johnson & Johnson began the largest Texas two-step bankruptcy when it created LTL Management LLC to hold its asbestos-containing talc powder liabilities via a Texas divisive merger. On October 14, 2021, LTL Management LLC declared bankruptcy in North Carolina.
Johnson & Johnson (NYSE: JNJ) is exploring a plan to offload liabilities from its Baby Powder litigation into a newly created business that would then seek bankruptcy protection, Reuters reports.
The most telling item in Mina Kimes’ report might have been this: When Johnson & Johnson’s purchase of Synthes was announced a few months after the highly publicized guilty pleas and fines, the Johnson & Johnson press release, Kimes wrote, cited “Synthes’s ‘culture’ and ‘values’ as evidence of its appeal, even as former Synthes ...
In addition, the investment bank Lehman Brothers filed for Chapter 11 bankruptcy protection in September 2008, citing bank debt of $613 billion and $155 billion in bond debt. The solvency of other U.S. banks was severely threatened, forcing the George W. Bush government to intervene with the $700 billion bailout plan of the Troubled Asset ...