A Johnson & Johnson unit’s latest dismissal from the bankruptcy court system shows how complex voting issues and overly broad litigation shields can derail momentum when trying to resolve mass tort liability.
US Bankruptcy Judge Christopher Lopez’s March 31 ruling that cancer victims’ vote on a $9 billion talc litigation settlement was flawed highlights the limits on companies’ use of a specific asbestos-related bankruptcy statute to divert liability. But it also offers a potential road map for businesses and practitioners of what to avoid with a mass tort bankruptcy.
The issues Lopez pinpointed will “reverberate throughout the ...
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