Ch. 11 For J&J Talc Unit Only Wise Choice, Top Lawyer Says

By Vince Sullivan (February 15, 2022, 10:09 PM EST) – The legal director of Johnson & Johnson’s bankrupt talc unit testified in New Jersey bankruptcy court on Tuesday that the company was inundated with new lawsuits against ovarian cancer and mesothelioma at a rate of one per hour all day, every day in 2020, and that filing a Chapter 11 complaint for a newly created subsidiary was the only rational way to cope with increasing responsibility.

If Johnson & Johnson were to fight the 38,000 talc claims at trial, the company would incur up to $190 billion in legal costs alone, said the general counsel for J&J’s talc unit…

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