J&J Talc Unit Loses Bid to Reargue Bankruptcy Case Appeal (1)

Johnson & Johnson’s talc liability unit failed to convince the Third Circuit to rehear a bid to revive its bankruptcy case, leaving a petition to the Supreme Court as the company’s last resort.

The US Court of Appeals for the Third Circuit’s Wednesday denial of LTL Management LLC’s motion for a rehearing leaves in place the court’s January ruling that LTL’s bankruptcy was improper because the company wasn’t financially distressed. LTL had asked for another three-judge panel hearing from the Third Circuit or a rehearing by the entire court.

J&J vowed to continue efforts to keep the bankruptcy case ...