The bankruptcy judge denies the J & J regulation plan linked to baby powder containing talc

A judge of the American bankruptcy court refused Johnson & The Johnson regulation plan linked to baby powder containing talcs, providing another setback in business efforts to resolve the issue.

This is the third case of bankruptcy for a J&J Company with regard to the baby powder problem.

Red River Talc LLC, AJ&The subsidiary of J was looking for the confirmation of a prepackle bankruptcy project in Chapter 11 which would have been one of the largest mass tort colonies in history, if it was approved. Red River and J&I proposed to pay $ 9 billion to adjust ovarian cancer and other allegations of litigation of gynecological cancer based on products related to TALC.

But judge Christopher Lopez of the American bankruptcy court for the South Texas district, the Houston division declared in a deposited court that I&I used a process of soliciting defective voters when it comes to applicants for bodily injury.

J&I declared in a press release that he would not pursue an appeal and rather return to the civil law system “to plead and defeat these complaints from Talc without merit”. It will also reverse about $ 7 billion in a previous reserve.

The company said that it had settled 95% of the actions in the judgment of mesothelioma filed, concluded all complaints in the protection of state consumers and all disputes of Talc-Suplier.

Last year, a subsidiary of J&I proposed to pay around $ 6.48 billion over 25 years as part of a regulation in the United States to cover allegations that his baby powder containing a talc caused ovarian cancer.

The proceedings filed against J&I had alleged that his talc powder pushed users to develop ovary cancer thanks to use for female hygiene, or mesothelioma, cancer that strikes the lungs and other organs.

The assertions contributed to a drop in J&Baby powder sales of J, encouraging the company to stop selling its Talc products in 2020. In 2022, J&I announced its intention to stop product sales around the world.

J&I said at the time that the subsidiary’s reorganization plan was significantly different from an announced previous reorganization. The company said that the plan would resolve 99.75% of all prosecution awaiting Talc against it and its affiliates in the United States

At the time, J&I said that the remaining prosecution of bodily injuries related to mesothelioma would be discussed outside the plan.

J shares&I refused more than 3% before the market opened on Tuesday.