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Support from 75% of claimants is the legally required threshold for a judge to approve the kind of bankruptcy settlement J&J has proposed. The deadline for casting votes was July 26.
Chapter 13: This type of bankruptcy follows a strict three- to five-year settlement payment arrangement structured by a bankruptcy attorney. You get to keep your assets with this bankruptcy type.
NEW YORK (Reuters) -Johnson & Johnson has cleared a key threshold of support for its proposed $6.5-billion settlement of tens of thousands of lawsuits alleging its baby powder and other talc ...
Harrington v. Purdue Pharma L.P., 603 U.S. ___ (2024), is a United States Supreme Court case regarding Chapter 11 of the Bankruptcy Code. [ 1] This case is about the settlement by Purdue Pharmaceutical for opioid victims who overdosed with the OxyContin drug produced by their company. The justices determined that the Bankruptcy Code does not ...
Bankruptcy in the United States is a matter placed under federal jurisdiction by the United States Constitution (in Article 1, Section 8, Clause 4), which empowers Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States".
A federal judge on Friday rejected a bid by a group of cancer victims to block Johnson & Johnson from pursuing a proposed bankruptcy settlement of tens of thousands of lawsuits alleging the ...
Purdue Pharma L.P. Purdue Pharma L.P., formerly the Purdue Frederick Company (1892–2019), was an American privately held pharmaceutical company founded by John Purdue Gray. It was sold to Arthur, Mortimer, and Raymond Sackler in 1952, and then owned principally by the Sackler family and their descendants. [ 1][ 2] The company manufactured ...
Purdue estimates that its bankruptcy settlement, approved by a U.S. bankruptcy judge in 2021, would provide $10 billion in value to its creditors, including state and local governments, individual ...
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