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Good Faith, Not Good Intentions, Required for Chapter 11 in the 3rd Circuit

Good Faith, Not Good Intentions, Required for Chapter 11 in the 3rd Circuit

On January 30, 2023, the 3rd U.S. Circuit Court of Appeals issued a precedential opinion reversing a decision by the U.S. Bankruptcy Court for the District of New Jersey and dismissing the Chapter 11 case filed by LTL Management LLC. LTL is the “Bad Co” Johnson & Johnson entity formed...

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