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U.S. Trustee, Insurers, Object to J&J’s $10B Talc Bankruptcy Plan
The U.S. Trustee and several insurance firms objected to confirmation of Johnson & Johnson’s proposed $10 billion bankruptcy plan, citing the U.S. Supreme Court’s 2024 ruling that dismantled Purdue Pharma’s opioid settlement.
The objections, filed ahead of a key hearing (set for Feb. 18) on whether to confirm the Chapter 11 plan, cite the Supreme Court’s decision in Harrington v. Purdue Pharma. In that June 27 ruling, the high court, in a 5-4 ruling, invalidated nonconsensual releases in the $6 billion bankruptcy plan granted to Purdue’s founders, the Sacklers.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.