A J&J company declares bankruptcy for a second time to pursue an $8.9 billion talc payment

A J&J company declares bankruptcy for a second time to pursue an $8.9 billion talc payment.

The accord comes in response to a court decision in January dismissing J&J’s contentious “Texas two-step” bankruptcy strategy.

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The sum far exceeds J&J’s first bid of $2 billion.

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The J&J subsidiary declared bankruptcy in New Jersey, the same state where it had been denied by the appeals court.

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