J&J Supplier Seeks to Save Victim Trust Fund After Court Loss

Oct. 14, 2021, 3:26 PM

A talc company that allegedly supplied tainted material used in Johnson & Johnson baby powder is trying to salvage its bankruptcy plan after a legal ruling placed its asbestos victim settlement in jeopardy.

Imerys Talc America’s settlement plan lacks the creditor votes to meet the legal requirements for approval after a judge invalidated more than 15,000 votes, according to two people with knowledge of the bankruptcy case, who requested anonymity because they were not authorized to speak publicly. The proposal would pay tens of thousands of asbestos victims and has been opposed by J&J and insurance companies.

The company now ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.