Settlement of Talcum Powder Lien Claims Totaling $750 Million Announced by Parties

NEWARK, N.J. –– A $750 million settlement agreement to resolve third-party talcum powder lien claims has been reached by LTL Management, the Ad Hoc Group of Supporting Counsel and certain insurance companies, which would “fully and permanently resolve lien claims of all kinds,” according to counsel.

Counsel for plaintiffs supporting a proposed $8.9 billion settlement agreement of talcum powder claims made the announcement during a June 22 omnibus hearing held before Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey.

Kristopher Hansen of Paul Hastings stated at the top of the hearing that there …