Official Committee of Talc Claimants Moves to Dismiss LTL’s Second Bankruptcy Petition

TRENTON, N.J. –– The Official Committee of Talc Claimants has moved to dismiss LTL Management LLC’s second Chapter 11 bankruptcy petition, arguing that the court has “expressed significant skepticism that LTL could show that it is in financial distress.”

In the April 24 motion filed in the U.S. Bankruptcy Court for the District of New Jersey, the TCC pointed to the 3rd Circuit U.S. Court of Appeal’s decision opining that LTL’s first petition should be dismissed, saying the Debtor has “failed to and cannot overcome the 3rd Circuit’s explanation for LTL’s lack of financial distress.”

“LTL bears the burden to …