J&J Claimants Balk At $2 Billion Settlement Fund, Say Case Deserves Dismissal

Mealey's (December 9, 2021, 8:35 AM EST) -- TRENTON, N.J. — A request by Johnson & Johnson (J&J) subsidiary and Chapter 11 debtor LTL Management LLC to create a qualified settlement fund to hold $2 billion from J&J for asbestos personal injury claimants should be rejected because it is an attempt to benefit J&J and other nondebtor affiliates “at the expense of the victims now suffering from their grave misconduct,” a committee of claimants says in a Dec. 8 objection in New Jersey federal bankruptcy court....