bankruptcy News

J&J Puts Talc Liabilities Into Bankruptcy

Oct 14 – Johnson & Johnson on Thursday put into bankruptcy tens of thousands of legal claims alleging its Baby Powder and other talc-based products caused cancer, offloading the potential liabilities into a newly created subsidiary. J&J put the talc …

Boy Scouts’ Bankruptcy Creates Rift With Religious Partners

NEW YORK (AP) — Amid the Boy Scouts of America’s complex bankruptcy case, there is worsening friction between the BSA and the major religious groups that help it run thousands of scout units. At issue: the churches’ fears that an …

Why Investigators Are Still Probing Takata Air Bag Inflators

Why are U.S. auto safety regulators opening a new investigation into Takata air bag inflators installed in millions of vehicles built over the past 20 years? Some of those vehicles have the original inflators that were installed when they were …

Boy Scouts, Mormon Church Reach $1 Billion Settlement With Sex Abuse Victims

The Boy Scouts of America on Tuesday secured more than $1 billion in new settlements to resolve sex abuse claims, with $787 million coming from insurance group The Hartford and another $250 million from the Church of Jesus Christ of …

Judge Begins Ruling on Purdue Pharma Bankruptcy Plan That Shields Sacklers

A U.S. judge began delivering his ruling on Wednesday on OxyContin maker Purdue Pharma’s request to approve its bankruptcy reorganization plan that would shield the company’s Sackler family owners from future litigation over the opioid crisis. If U.S. Bankruptcy Judge …

Boy Scouts Insurance Fight Complicates Deal to Pay Victims

A dispute over whether a unit of insurance giant Chubb Ltd. must contribute to a trust fund for sexually abused Boy Scouts is complicating talks to end the youth group’s bankruptcy case. Lawyers for more than 80,000 people who say …

U.S. Appeals Court Revives Madoff Trustee Lawsuit Against Citigroup

NEW YORK — A federal appeals court on Monday said Citigroup Inc must face a $343.1 million clawback lawsuit by the trustee liquidating Bernard Madoff’s former firm, who accused the bank of turning a blind eye to the late swindler’s …

Judge Declines to Stop J&J From Splitting Talc Liabilities From Main Business

A U.S. judge declined to stop Johnson & Johnson from taking steps to offload widespread Baby Powder liabilities from the rest of its business, preserving the option for the healthcare company to move thousands of claims from people who used …

Judge Clears Boy Scouts’ $850M Sex Abuse Settlement Plan With Conditions

The Boy Scouts of America has received a green light from a judge to proceed with its $850 million reorganization plan to exit bankruptcy and settle more than 80,000 claims brought by victims of sexual abuse. The ruling by U.S. …

9,000 Went to Court After New York Extended Time for Childhood Sex Abuse Suits

For two years, New York temporarily set aside its usual time limit on civil lawsuits in order to allow victims of childhood sexual abuse to sue churches, hospitals, schools, camps, scout groups and other institutions and people they hold responsible …