J&J Vows $8.9B For Asbestos Claimants In Spinoff’s New Chapter 11 Filing

(April 5, 2023, 11:58 AM EDT) -- TRENTON, N.J. — Johnson & Johnson (J&J) subsidiary LTL Management LLC filed a new Chapter 11 petition April 4 in New Jersey federal bankruptcy court after the dismissal of its first case for being filed in bad faith, saying it has reached an agreement with more than 60,000 asbestos-talc claimants on a bankruptcy plan that includes an $8.9 billion trust to pay their claims....