On July 28, 2023, Chief Judge Kaplan entered an Opinion dismissing Johnson & Johnson subsidiary LTL’s second Chapter 11 bankruptcy, concluding that dismissal is warranted because of LTL’s “lack of imminent and immediate financial distress.” Basically, the Court agrees that this second attempt also was a sham bankruptcy. We anticipate that J&J/LTL will appeal this ...J&J/LTL Second Bankruptcy Dismissed!
On July 28, 2023, Chief Judge Kaplan entered an Opinion dismissing Johnson & Johnson subsidiary LTL’s second Chapter 11 bankruptcy, concluding that dismissal is warranted because of LTL’s “lack of imminent and immediate financial distress.” Basically, the Court agrees that this second attempt also was a sham bankruptcy. We anticipate that J&J/LTL will appeal this ...
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