jones day

Architect of Detroit’s bankruptcy filing 10 years ago says it was the best fix for a broken city | News, Sports, Jobs

Detroit emergency manager Kevyn Orr speaks during an interview with The Associated Press in Detroit on Dec. 12, 2013. The architect of Detroit’s bankruptcy filing admits it was a miserable process. But 10 years on, Detroit’s former emergency manager, Orr, maintains the restructuring of the Motor City is among his most important accomplishments. On July 18, 2013, Detroit became the largest city in the U.S. to file for bankruptcy. (AP photo)

Best Of: Inside Johnson & Johnson’s bankruptcy two-step

This is an audio transcript of the Behind the Money podcast episode:Best Of: Inside Johnson & Johnson’s bankruptcy two-step’

Michela Tindera
Hey, everyone. Just to note that we’re taking a break this week. So instead, today we’re resharing one of our episodes. Now be sure to stick around till the end. We’ll have an update on what’s happened since this episode first came out last June. So let’s get on to the show.

On May 5th 2020, a couple named Val and Holly Johnson officially make a decision that has been stewing for months. They decide to file a lawsuit against one of the world’s largest healthcare companies, Johnson & Johnson. In their lawsuit, they say that Johnson & Johnson sold them talc-based baby powder that had asbestos in it — a known carcinogen.

Val Johnson
They conspired. This was not an accident that they did this.

Michela Tindera
That’s Val. He’s 61 years old, and he and his wife, Holly, say that Val’s use of Johnson’s baby powder led to his diagnosis of mesothelioma. He found out that he had this rare and deadly form of cancer just months earlier.

Val Johnson
If they would have taken

Read the rest