J&J’s Talc Subsidiary Not ‘Financially Distressed’ Enough For Bankruptcy

J&J’s Talc Subsidiary Not ‘Financially Distressed’ Enough For Bankruptcy – Third Circuit

09 Feb 2023

• By Lauren Nardella

The J&J company holding the firm’s liabilities relating to talc litigation, which declared bankruptcy in 2021 shortly after its formation, had its Chapter 11 petition denied by the Third Circuit on 30 January. Attorneys weigh in on the implications for J&J and wider industry.

Johnson & Johnson’s legal strategy to expeditiously resolve tens of thousands of talc-cancer lawsuits appears to be crumbling following a ruling from a federal appeals court in Philadelphia.

On 30 January, the US Court of Appeals for the Third Circuit dismissed the bankruptcy petition of a holding company...