3rd Circuit Affirms Dismissal Of LTL Management’s 2nd Chapter 11 Case

(July 26, 2024, 2:37 PM EDT) -- PHILADELPHIA — The Third Circuit U.S. Court of Appeals in a July 25 nonprecedential opinion affirmed a New Jersey federal bankruptcy court’s dismissal of Johnson & Johnson (J&J) spinoff LTL Management LLC’s second attempt to reorganize through bankruptcy, rejecting the debtor’s argument that its second Chapter 11 case is valid because it proved that its financial resources will probably be wiped out by asbestos lawsuits....

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