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J&J Makes Third Try At Handling Talc Claims In Bankruptcy

By Rick Archer · September 20, 2024, 4:35 PM EDT

A Johnson & Johnson talc unit filed for Chapter 11 protection in Texas bankruptcy court Friday, marking the third time the company has tried to deal with liability from alleged asbestos-contaminated...

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Bankruptcy Scorecard

Summary

Red River Talc, the latest talc liability spin off of cosmetics and pharmacy giant Johnson & Johnson, filed for Chapter 11 bankruptcy with plans to set up an $8 billion trust to settle claims that J&J baby powder caused cancer. The latest filing comes after J&J's previous two talc-liability spin off bankruptcies were dismissed.

Case Number

24-bk-90505

Judge

Christopher M. Lopez

Venue

U.S. Bankruptcy Court for the Southern District of Texas

Capital Structure

Total Liabilities:

$1 billion to $10 billion

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