A Johnson & Johnson subsidiary urged a federal appeals court to uphold the controversial legal strategy it used to move to bankruptcy roughly 38,000 lawsuits linking its talc-based products to cancer.
The subsidiary, LTL Management LLC, said in court papers filed on Monday that chapter 11 is the only option for compensating all claimants relatively quickly.
Source: https://www.wsj.com/articles/j-j-unit-tells-appeals-court-only-bankruptcy-can-settle-talc-claims-11660683777?siteid=yhoof2&yptr=yahoo