The LTL Management, LLC (“LTL” or the “Debtor”) bankruptcy saga may be coming to an end for a second time, at least for now. On January 30, 2023, the Third Circuit issued its.
Executive Summary: On January 30, 2023, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued an opinion in In re LTL Management, LLC, No. 22-2003, 2023.
On January 30, 2023, U.S. Court of Appeals for the Third Circuit issued opinion In re LTL Management in which Judge Thomas L. Ambro reversed prior ruling of U.S. Bankruptcy Court for the District of New Jersey and dismissed Johnson & Johnson affiliate LTL chapter 11 petition
On January 30, 2023, the U.S. Court of Appeals for the Third Circuit (the "Court") issued an opinion in In re LTL Management, LLC, No. 22-2003, 2023 WL 1098189, at 1 (3d Cir. Jan. 30, 2023) ("LTL Management").
Third Circuit Court of Appeals dismissed a bankruptcy case that Johnson & Johnson subsidiary filed after J&J used a controversial Texas corporate law to corral large liabilities into entity. Court’s decision helps creditors prevent slippery debtors from abusing bankruptcy.