LTL Management Files Chapter 11 Plan of Reorganization, Sets Aside $400 Million for State AG Cases

TRENTON, N.J. –– LTL Management LLC has filed its Chapter 11 plan of reorganization, outlining cash contributions and noting that it intends to deliver $400 million to those that have asserted governmental actions against the defendants.

The reorganization plan was filed late on May 15 in the U.S. Bankruptcy Court for the District of New Jersey. It was referenced several times during a May 16 hearing, with counsel representing some of the plaintiffs noting that it had not yet had time to read the plan or disclosure statement in its entirety but that they had “already identified some troubling …