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Chapter 11 Asbestos

Husch Blackwell LLP

Talc-Related Matter Filings Predictably Increase, As New Bankruptcies are Filed

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Observers of filing trends in personal injury mesothelioma matters alleging exposure to talc contaminated with asbestos have noted that the bankruptcy filing of a predominant defendant in those matters did little to slow the...more

Goldberg Segalla

Avon Files for Bankruptcy to Address Talc Lawsuits

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Court: U.S. Bankruptcy Court for the District of Delaware - Avon Products Inc., a U.S.-based “non-operational” holding company, announced Monday that it is seeking Chapter 11 bankruptcy protection to “address its debt and...more

Goldberg Segalla

Third Circuit Affirms Bankruptcy Court’s Order Dismissing LTL Management/Johnson & Johnson’s Second Chapter 11 Petition

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On June 25, 2024, the Third Circuit Court of Appeals rendered an opinion affirming the New Jersey Bankruptcy Court’s decision to dismiss LTL Management/Johnson & Johnson’s second bankruptcy case for “want of good faith...more

Goldberg Segalla

SCOTUS Recognizes Insurer’s Right to Object to Asbestos Bankruptcy Plans

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The U.S. Supreme Court on June 6 unanimously held in Truck Insurance Exchange v. Kaiser Gypsum Company Inc. that insurers with financial responsibility for bankruptcy claims are a “party in interest” that may object to a...more

McGuireWoods LLP

Shifting Gears on Insurer Participation in Chapter 11 Proceedings: U.S. Supreme Court Rejects Longstanding “Insurance Neutrality”...

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Last week’s Privilege Point described an opinion requiring a corporate party’s witness to disclose communications with his Latham & Watkins lawyers, because he confirmed with that firm his own “commercial understanding” about...more

Kennedys

Insurer deemed “party in interest” in insureds’ Chapter 11 case

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The US Supreme Court ruled that an insurer with financial responsibility for bankruptcy claims is a “party in interest” under Bankruptcy Code §1109(b) that “may raise and may appear and be heard on any issue” in a Chapter 11...more

Goldberg Segalla

U.S. Supreme Court Holds that Insurers are Parties in Interest in Bankruptcy Proceedings and Can Object to Reorganization Plans

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Companies faced with numerous mass tort claims, such as asbestos claims, often seek bankruptcy protection. Reorganization plans may include § 524(g) channeling injunctions in which insurance assets are put into a trust to pay...more

Dorsey & Whitney LLP

The Supreme Court Update - June 6, 2024

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The Supreme Court of the United States issued three decisions today: Becerra v. San Carlos Apache Tribe, No. 23-250: This case concerns the funding the Indian Health Service (“IHS”) must provide to Indian tribes that...more

White and Williams LLP

Supreme Court Endorses Broad Insurer Standing in Bankruptcy Reorganizations

The Supreme Court reversed the Fourth Circuit Court of Appeals in favor of insurance companies in a unanimous decision written by Justice Sotomayor. In short, the United States Supreme Court held today that insurers facing...more

Epstein Becker & Green

A Day for Specialists - SCOTUS Today

Another Three-for Thursday at the Supreme Court, with none of the decisions a landmark but each of utmost relevance to legal specialists and technicians in the fields of bankruptcy, estate taxation, and Indian affairs....more

Goldberg Segalla

Johnson & Johnson Considers a Third Talc Bankruptcy to Avoid Further Litigation

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With more than two dozen jury trials scheduled over the next year involving contaminated talc claims related to its ubiquitous baby powder, discussions are already at Johnson & Johnson to puts its talc unit, LTL Management,...more

White and Williams LLP

Supreme Court Agrees to Consider Standing of Insurers in Chapter 11 Cases

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The United States Supreme Court agreed today to review a Fourth Circuit decision that denied an insurer standing to object to an asbestos producer’s Chapter 11 reorganization plan, on the basis that the insurer’s interests...more

Tucker Arensberg, P.C.

Will the Acceptance of the Appeal in Purdue Pharma by the U.S. Supreme Court Affect Johnson & Johnson?

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Now that the United States Supreme Court has agreed to expeditiously hear the U.S. Trustee’s appeal of the plan confirmation and settlement in Purdue Pharma, lawyers following the LTL Management LLC bankruptcy case, version...more

Maron Marvel

Understanding Talc Litigation: Analyzing Trends and Implications for Exposure Claims

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For over a decade, talc litigation has been a staple of mass toxic tort practices around the country and persists today. For those who are unfamiliar, talc is a naturally occurring mineral rock mined from the Earth that can...more

Holland & Hart LLP

Georgia-Pacific Ruling Furthers Texas Two-Step Challenges

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The U.S. Court of Appeals for the Fourth Circuit recently approved injunctive relief as part of a strategy for settling mass tort claims through the Chapter 11 bankruptcy case of Bestwall LLC, an entity created by...more

Goldberg Segalla

Johnson & Johnson Bankruptcy Settlement Faces Latest Test in New Jersey Court

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Johnson & Johnson’s latest talcum powder litigation challenge exists in a New Jersey bankruptcy court where oral arguments concerning its proposed $8.9 billion settlement occurred during the final week of June 2023....more

Goldberg Segalla

Circuit Court Affirms Automatic Stay as to Georgia-Pacific’s Asbestos Lawsuits

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Court: United States Court of Appeals for the Fourth Circuit - In 1965, Georgia-Pacific LLC (Old GP) merged with Bestwall Gypsum Company, a manufacturer of asbestos-containing products. In 2017, Georgia-Pacific LLC...more

Goldberg Segalla

Third Circuit Court of Appeals Rejects Johnson & Johnson’s Bankruptcy Plan to Handle Their Baby Powder Litigation

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On January 30, the U.S. Court of Appeals for the Third Circuit dismissed the talc bankruptcy filing of Johnson & Johnson’s subsidiary, LTL Management, LLC. After hearing arguments in September, the Third Circuit ultimately...more

Maron Marvel

3rd Circuit Rejects Johnson & Johnson’s Effort To Set Up Subsidiary In Bankruptcy Court To Resolve Talc Asbestos Claims

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On January 30, 2023, the Third Circuit dismissed Johnson & Johnson (J&J)’s subsidiary LTL’s Chapter 11 bankruptcy petition because the facts did not support the financial distress required for the entity’s good faith filing...more

Fox Rothschild LLP

Who Can Be A Future Claims Representative In The Third Circuit?

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Imerys Talc American, Inc. (“Imerys”) filed bankruptcy in response to crushing liability imposed by mounting asbestos and talc personal injury claims to take advantage of Bankruptcy Code § 524(g) which, among other things,...more

Goldberg Segalla

Third Circuit to Consider Validity of J&J’s Use of Bankruptcy to Handle Asbestos Claims

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On September 19, 2022, a panel of three judges for the Third Circuit heard oral argument in In re LTL Management LLC, Case No. 22-2003.  Before the Court is Johnson & Johnson’s (J&J) use of Chapter 11 to resolve...more

Jones Day

Third Circuit Sets Standard for Appointment of Future Claims Representatives in Asbestos Bankruptcy Cases

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Unlike professionals retained in a chapter 11 case by trustees, debtors, or official committees, the Bankruptcy Code provides little guidance regarding the appointment of a representative for "future claimants" in a chapter...more

Tucker Arensberg, P.C.

Retired Bankruptcy Judge Judith K. Fitzgerald Testifies Before the Senate Judiciary Subcommittee Meeting on Possible Solutions to...

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A subcommittee of the Senate Judiciary Committee heard from bankruptcy experts and those affected directly by mass tort Chapter 11 cases about their concerns over the corporate machinations that allow some large corporations...more

Husch Blackwell LLP

Is Nash Engineering the Latest Company Bankrupted by Asbestos Litigation?

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Pump manufacturer Nash Engineering Company appears to have recently become the latest casualty of asbestos litigation. On October 19, 2021, Nash Engineering filed for Chapter 7 bankruptcy in the United States Bankruptcy Court...more

Patterson Belknap Webb & Tyler LLP

Third Circuit Addresses the Due Process Rights of Asbestos Claimants

When there are large numbers of substantial individual tort claims against a debtor, potentially involving claimants unknowable to the debtor who themselves may not know they have a claim, the bankruptcy process faces special...more

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