Johnson & Johnson Unit Proposes $12 Billion Asbestos Trust In Chapter 11 Plan

(May 16, 2023, 11:52 AM EDT) -- TRENTON, N.J. — Johnson & Johnson (J&J) spinoff LTL Management LLC on May 15 filed a plan of reorganization in its second Chapter 11 case in New Jersey federal bankruptcy court that, if approved by asbestos claimants, would create a $12 billion asbestos trust, which the debtor says is “unprecedented.”...