Law Professors Say J&J Talc Ch. 11 Is Shielding Assets

By Vince Sullivan (February 11, 2022, 4:16 PM EST) -- A group of law professors filed an amicus brief Friday in the Chapter 11 case of Johnson & Johnson's talc unit urging the New Jersey bankruptcy court to dismiss the case, arguing it is being run solely to shield J&J's assets from the tort claims of thousands of people alleging they were injured by the company's talc products.

In the brief, the seven professors said LTL Management's bankruptcy case was filed after J&J executed a controversial series of corporate transactions known as a "Texas two-step" with no intention of reorganizing the company or of maximizing the value of its assets for...

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