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Third Circuit Dismisses J&J Affiliate LTL's Talc Liability Chapter 11 Filing; "Good Faith" Under 1112(b) Requires Financial Distress | Cadwalader, Wickersham & Taft LLP

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. ....

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LTL's Chapter 11 Filing Dismissed For No Financial Distress

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 ....

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Third Circuit Dismisses J&J Affiliate LTL's Talc Liability Chapter 11 Filing;

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"). ....

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