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U.S. Trustee, Insurers, Object to J&J’s $10B Talc Bankruptcy Plan
The U.S. Trustee and several insurance firms objected to confirmation of Johnson & Johnson’s proposed $10 billion bankruptcy plan, citing the U.S. Supreme Court’s 2024 ruling that dismantled Purdue Pharma’s opioid settlement.
The objections, filed ahead of a key hearing (set for Feb. 18) on whether to confirm the Chapter 11 plan, cite the Supreme Court’s decision in Harrington v. Purdue Pharma. In that June 27 ruling, the high court, in a 5-4 ruling, invalidated nonconsensual releases in the $6 billion bankruptcy plan granted to Purdue’s founders, the Sacklers.
Similar releases exist for Johnson & Johnson in its bankruptcy plan, the objectors say, which is part of a Chapter 11 case filed by its subsidiary, Red River Talc, in U.S. Bankruptcy Court for the Southern District of Texas.
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