Facing conflicting requests from cancer plaintiffs and Johnson & Johnson’s subsidiary LTL Management, U.S. bankruptcy judge Michael Kaplan has announced that famed mediator Kenneth Feinberg will be providing an independent estimation of the mesothelioma and ovarian cancer claims against the consumer giant.
Kenneth Feinberg to Evaluate Number and Value of Mesothelioma and Ovarian Cancer Claims
Though Johnson & Johnson denies accusations that their talc products are carcinogenic, they have already been ordered to pay over $3.5 billion in verdicts and settlements to mesothelioma and ovarian cancer victims. With an estimated 38,000 claims pending against them, the company turned to a controversial bankruptcy procedure that placed all of their talc liabilities into a newly formed subsidiary, then immediately had that company file for bankruptcy.
While the cancer victims are appealing the decision that approved that bankruptcy, and asked the judge to allow their lawsuits against Johnson & Johnson to move forward, the subsidiary’s attorneys proposed a year-long process in which they would estimate the value of the outstanding mesothelioma and ovarian cancer claims. Instead, the judge has enlisted the help of Kenneth Feinberg, the mediator who oversaw the victims’ compensation funds following both the September 11, 2001 attacks and the BP oil spill.
Judge Calls for Streamlined Estimation of Mesothelioma and Ovarian Cancer Claims
Though the valuation process that LTL had proposed relied upon personal information submitted by the mesothelioma and ovarian cancer victims, Judge Kaplan has indicated that will not be the process that Feinberg will be using. Instead, his estimation will use data from previous settlements and court judgments involving similar cases, and there will be no time-consuming document exchange or litigation.
Facing a terminal diagnosis, the mesothelioma victims are pleading to continue with their claims against Johnson & Johnson before they run out of time. Though the judge has denied these requests, he has indicated that Feinberg will have completed his valuation before the weather turns cold.
If you or someone you love has been diagnosed with an asbestos-related disease, the Patient Advocates at Mesothelioma.net can help. Contact us today at 1-800-692-8608 to learn more.
