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U.S. House panel seeks J&J documents on baby powder bankruptcy plans

A U.S. congressional panel has asked Johnson & Johnson to provide it all documents related to the company’s plans to put its talc liabilities into bankruptcy, according to a letter sent on Wednesday and seen by Reuters.Democrat Raja Krishnamoorthi, chairman of the U.S. House of Representatives Committee on Oversight and Reform’s subcommittee on economic and…

A U.S. congressional panel has asked Johnson & Johnson to provide it all documents related to the company’s plans to put its talc liabilities into bankruptcy, according to a letter sent on Wednesday and seen by Reuters.

Democrat Raja Krishnamoorthi, chairman of the U.S. House of Representatives Committee on Oversight and Reform’s subcommittee on economic and consumer policy, wrote that the panel is trying to learn how J&J’s plans may affect people who have said they were harmed by the company’s baby powder.

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Krishnamoorthi also asked J&J to turn over documents showing how much funding it would provide to the new entity. The level of funding could determine payouts for victims.

Reuters reported this month https://www.reuters.com/business/healthcare-pharmaceuticals/exclusive-jj-exploring-putting-talc-liabilities-into-bankruptcy-sources-2021-07-18 that J&J is exploring a plan to offload liabilities it faces from baby powder litigation into a new company, which would then file for bankruptcy.

The healthcare company faces legal actions from tens of thousands of plaintiffs, including women suffering from ovarian cancer and others with mesothelioma, alleging that its baby powder and other talc products contained asbestos and caused cancer.

“Johnson & Johnson Consumer Inc has not decided on any particu

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