Bankruptcy

Bankruptcy Judge Seeks Timeline from Archdiocese of New Orleans to Advance Legal Proceedings

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NEW ORLEANS — A bankruptcy judge in Louisiana is pressing the Archdiocese of New Orleans and affiliated parties to outline a schedule for expert discovery amid the church’s ongoing bankruptcy proceedings. This request aims to establish a timetable that would facilitate the next steps in the legal process. The judge’s move highlights the complexities of the church’s financial restructuring, which comes in the wake of numerous claims related to misconduct. A prompt and clear timeline is seen as crucial for managing the variety of claims against the Archdiocese, allowing all involved parties to prepare adequately. … Read more

Johnson & Johnson Faces Legal Setback as Bankruptcy Court Rejects Talc Defense Strategy

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Trenton, New Jersey — Johnson & Johnson has faced significant legal challenges regarding its talc-based products, culminating in a recent decision by a U.S. appeals court that rejected the company’s bankruptcy strategy aimed at addressing thousands of claims linked to cancer diagnoses. In a ruling earlier this week, the court upheld a ruling from earlier this year that deemed Johnson & Johnson’s attempt to resolve thousands of lawsuits through a controversial bankruptcy maneuver invalid. This strategy, known as the legal strategy of “Texas Two-Step,” sought to transfer liability to a new subsidiary, enabling the corporation … Read more

Johnson & Johnson Faces Setback in Talc Bankruptcy Case Amid Growing Legal Turmoil

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Johnson & Johnson has faced a significant setback as a bankruptcy court has dismissed its recent attempt to shield itself from multiple lawsuits related to its talcum powder products. This decision highlights a growing trend in judicial skepticism towards corporate strategies that seek to limit liability for product-related injuries. The ruling comes as the company has been embroiled in litigation claims alleging that its talc products have caused serious health issues, including cancer. Johnson & Johnson previously sought to address these claims by creating a subsidiary to take on the liabilities associated with talc, a … Read more

Texas Attorney in Massive Debt Transitions from Chapter 11 Bankruptcy to Liquidation

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AUSTIN, Texas — A prominent mass tort attorney has agreed to convert his Chapter 11 bankruptcy case to a Chapter 7 liquidation, a decision that raises alarms for investors and litigation funders owed substantial amounts of money. The attorney, who has not been named publicly, reportedly faces debt in the hundreds of millions of dollars. This abrupt shift in bankruptcy strategy signals an escalating concern over his financial dealings and the future of his legal practice, which had been growing rapidly before his financial troubles came to light. Chapter 11 bankruptcy allows businesses to reorganize … Read more