LTL trustee objections continue, including proposed timeline

Chicago, May 8 – The trustee for Johnson & Johnson subsidiary LTL Management LLC’s second Chapter 11 case is objecting to the debtor attempting to schedule a hearing to approve a disclosure statement, according to an objection filed with the U.S. Bankruptcy Court for the District of New Jersey.

The opening of the objection from Regions 3 and 9 U.S. trustee Andrew R. Vara notes that LTL is attempting to cram down a disclosure statement process on creditors while the question whether it can even be a Chapter 11 debtor remains outstanding.

The question of whether LTL can be a Chapter 11 debtor should be the focus of the court, the trustee says, at this early stage of the case.

An accelerated timeline would assist the debtor and harm the creditors, he argues.

A motion to dismiss hearing should come before any hearing regarding a not-yet-filed disclosure statement.

The official committee of talc claimants lodged a very similar objection to the attempt at a date for a disclosure statement hearing in a separate filing.

Johnson & Johnson is a consumer products company based in New Brunswick, N.J. The LTL Management subsidiary filed its initial Chapter 11 bankruptcy petition on Oct. 14, 2021 under case number 21-30589. The new case was filed on April 4 under case number 23-12825.

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