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
05-04-22 1429ET