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Subsidiary of Johnson & Johnson company is driven to bankruptcy over talc claims

... company has taken drastic measures to combat the claims it received over talc powder. The management made a decision to drive the subsidiary to bankruptcy, which may free the company from the obligations to pay about $ 3.5 billion in compensation. The company ... ... Johnson’s website . Thus, it is planned to consider the issue of compensation payments, which has been previously announced, in court. According to Michael Ullmann, the leading legal adviser of Johnson & Johnson, the bankruptcy measure for the subsidiary ...

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