The talc plaintiffs should have their appeal of a decision allowing J&J-subsidiary LTL Management to continue its Chapter 11 proceedings heard as soon as possible, according to the same bankruptcy judge who issued the decision. In February, Judge Michael Kaplan of the US Bankruptcy Court in New Jersey allowed the company to remain in Chapter 11, ruling that the bankruptcy proceeding was a legitimate tool to resolve mass tort liability. Judge Kaplan’s recent ruling will allow talc plaintiffs to bypass the federal district court and have their appeal of that ruling heard directly by the Third Circuit Court of Appeals, as reported by the the wall street journal.
The SEC voted March 30 to propose new rules for special purpose acquisition companies (SPACS) that would bring SPAC disclosure requirements closer to traditional IPOs, according to the New York Times. Activity in the SPAC market has slowed significantly, with only 50 SPACs raising $10 billion so far this year, compared to more than 600 SPACs raising around $160 billion in 2021. Additionally, a fund indexed to hundreds of SPACs has lost about half its value since peaking in early 2021.
According to Bloomberg. Insurers’ experts testified that each individual should go through a sexual abuse assessment, to weed out “the fake cases that kind of jumped on the bandwagon because they saw something on Facebook” and get ensure that the real victims are compensated.
Forbes discusses what the Fed’s current and expected interest hikes will mean for private equity portfolios and the potential for increased bankruptcies among private equity-backed companies. These companies have largely avoided bankruptcy of late, with just 79 private equity-backed companies filing for bankruptcy in 2021 and just 18 so far in 2022.
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