A U.S. bankruptcy judge on Friday formally dismissed the second bankruptcy case of Johnson & Johnson's talc subsidiary, but he rejected cancer victims' call for a six-month ban on future bankruptcy filings by the company.
that the case should be dismissed, ending J&J's second attempt to use bankruptcy to resolve thousands of lawsuits alleging that its talc products sometimes contained asbestos and caused mesothelioma and ovarian cancer.about banning J&J subsidiary LTL Management LLC from turning to bankruptcy a third time, saying that he did not have a "crystal ball."
In a statement Friday, the company welcomed Kaplan's decision on future bankruptcy filings, saying that the ruling was consistent with the judge's previous statements urging the parties to reach a settlement based on "remarkable progress" on the framework for a deal. A company spokesperson did not answer a question about whether LTL planned to file for bankruptcy again.
LTL's bankruptcy proceedings had largely paused the 38,000 lawsuits already filed against J&J, although one case was allowed to proceed to a $18.8 millionAndy Birchfield, a lawyer for cancer victims, said he hopes J&J "recognizes the writing on the wall" and does not seek to delay the lawsuits through a third effort at a failed bankruptcy strategy. Cancer victims are eager to take their cases to trial or settle outside of bankruptcy court, Birchfield said.
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