J&J, Committee of Cancer Victims Agree to a Quick Appeal of Bankruptcy Ruling

Johnson & Johnson and a committee of cancer victims have agreed to speed up a court appeal of their fight regarding whether the health-care giant can use bankruptcy to end as many as 100,000 talc-related claims.

The move could cut months off the appeals process. The first time the two sides fought about the issue, it took about a year and resulted in the bankruptcy case being dismissed.

Now, J&J intends to appeal a decision by US Bankruptcy Judge Michael Kaplan to throw out the insolvency case of LTL Management, the unit the company created in order to try to resolve tens of thousands of cancer lawsuits.

Read the source article at Yahoo Finance