J&J Settles Insurance, Indemnity Issues With Bankrupt Talc Mines

Johnson & Johnson and bankrupt talc mines agreed to a settlement that would see the company contribute at least $505 million to a settlement trust for talc claimants.

J&J will make an initial payment of $225 million followed by $280 million in insurance proceeds from J&J policies to Imerys Talc America Inc. and Cyprus Mines Corp.'s settlement trust.

The settlement resolves numerous disputes dating back to at least 2020. Imerys, Cyprus, and J&J have litigated whether J&J has contractual rights to indemnify the suppliers for their liability and whether the suppliers have rights to J&J’s insurance proceeds that cover talc ...