Cancer victims urge court to end J&J bankruptcy roadblock to lawsuits

(Reuters) — People suing Johnson & Johnson over the company’s talc products urged an appeals court on Monday to revive their claims, saying the profitable company should not be allowed to use a bankrupt subsidiary to block lawsuits alleging the products cause cancer. They asked a panel of the Philadelphia-based 3rd U.S. Circuit Court of Appeals to … Read more

Insolvency and Bankruptcy Code changes to hasten, maximise recovery

Multiple amendments and clarifications to the Insolvency and Bankruptcy Code by the Insolvency and Bankruptcy Board of India (IBBI) will help creditors fetch better value for distressed assets and lift sagging recovery rates, consultants and bankers said. In separate notifications over the weekend, IBBI allowed creditors to sell part assets in case they get more … Read more

Cineworld laments failure to become meme stock in bankruptcy filing

Cineworld, the world’s second-largest cinema chain, lamented the fact that it never managed to attain the meme stock status of its rival AMC as it filed for bankruptcy protection in the US after buckling under its debts. The UK-based owner of chains including Regal Cinemas said in a filing on Wednesday that it was seeking … Read more

Apollo Global’s Lumileds US, Netherlands units file for Chapter 11 bankruptcy (NYSE:APO)

Sundry Photography/iStock Editorial via Getty Images Lumileds, a maker of automotive and other LED lighting products that’s majority-owned by Apollo Global Management (NYSE:APO), has filed for Chapter 11 bankruptcy proceedings for its U.S. and Netherlands units in a plan to reduce its debt by ~$1.3B, the company said Monday. The company has already received support … Read more

3M Bankruptcy Tactic Fails as Combat Earplug Suits Move to Trial

New You can now listen to Insurance Journal articles! 3M Co.’s plan to use controversial bankruptcy rules to shield itself from some 230,000 lawsuits over military earplugs looked like a relatively simple fix to a long-simmering problem that could cost it billions of dollars. Like most things that sound too good to be true, it … Read more

3M Is Denied Bankruptcy Shield Against Mass Earplug Claims

A bankruptcy judge declined on Friday to shield 3M Co. from continued litigation involving its military earplugs, a setback for the conglomerate’s attempt to shift the mass injury claims to a friendlier forum. Judge Jeffrey Graham of the U.S. Bankruptcy Court in Indianapolis said he wouldn’t extend to 3M the same protection against the pending … Read more

3M Combat Earplug Lawsuits to Proceed, Judge Rules, Despite Bankruptcy Case

3M Co. must face more than 230,000 lawsuits accusing it of selling defective earplugs to the U.S. military, after a U.S. judge on Friday ruled that the bankruptcy of a subsidiary did not stop lawsuits against the non-bankrupt parent company. Companies that file for bankruptcy typically receive an immediate reprieve from lawsuits, and 3M subsidiary … Read more

3M Awaits Bankruptcy Ruling That May Sink Litigation Tactic

New You can now listen to Insurance Journal articles! 3M Co.’s attempt to block jury trials of more than 230,000 lawsuits accusing it of harming US soldiers faces a key test this week in front of a federal judge in Indianapolis. US Bankruptcy Judge Jeffrey J. Graham is set to consider a temporary halt to … Read more

Revlon Tells Bankruptcy Judge Its Shares May Be Worthless

(Bloomberg) — Revlon Inc. told the judge overseeing the cosmetics giant’s bankruptcy that shareholders don’t need a special, company-funded committee to represent them in the Chapter 11 case because there is no evidence the equity is worth anything. Most Read from Bloomberg The company urged US Bankruptcy Court Judge David S. Jones in Manhattan to … Read more

Cineworld’s possible bankruptcy puts cinema industry under the spotlight

Breadcrumb Trail Links PMN Business Author of the article: Article content With Cineworld, the world’s no.2 cinema operator, staring at a possible bankruptcy as it struggles to cut debt and recover from the pandemic, the spotlight is on the challenges the industry faces as a whole to compete with the popularity of streaming movies at … Read more