By Jonathan Randles

 

A U.S. bankruptcy judge on Wednesday declined to disrupt the chapter 11 case of Johnson & Johnson's talc unit, saying he wants to foster settlement discussions between the company and injury claimants.

Judge Michael Kaplan of the U.S. Bankruptcy Court in Trenton, N.J., granted a request by J&J's LTL Management LLC to steer the case until at least September, denying a bid by injury claimants who sought the ability to propose a rival settlement plan in the future.

LTL, J&J and the injury claimants are holding meditations in an effort to strike a consensual resolution of talc injury liability.

If the mediation isn't successful and LTL doesn't strike a consensual chapter 11 plan, Judge Kaplan would be open to allowing a rival settlement plan, he said.

 

Write to Jonathan Randles at jonathan.randles@wsj.com

 

(END) Dow Jones Newswires

May 04, 2022 14:29 ET (18:29 GMT)

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