Web19 May 2024 · The ‘Texas Two-Step’ is the name given to a highly controversial legal strategy that some of the biggest companies are now using to shield their assets from accountability. Web24 Mar 2024 · This maneuver, known as the “Texas Two-Step,” threatens the tort recovery of tens of thousands of talc claimants. The Texas Two-Step is the latest addition to a panoply of aggressive techniques debtors have developed to gain the upper hand against creditors.
The Bankruptcy Court
Web12 Apr 2024 · Therefore, not only is J&J shielded from fighting a tort case, but its deep pockets are protected from its subsidiary's bankruptcy case as well. The Texas Two-Step is not uncommon for companies to try when facing litigation that will likely make a sizeable dent in their coffers. Since 2024, law firm Jones Day has counseled J&J and three other ... Web31 Jan 2024 · The Texas Two-Step maneuver involves a company spinning off a unit and transferring its tort liability to that unit, usually via a Texas corporate law that allows so … cotswold handyman
Thinking Out Loud: The Texas Two-Step
Web8 Feb 2024 · The Texas Two-Step denies victims a jury of their peers, defeating the Seventh Amendment in our Bill of Rights,” he said. J&J isn’t the first company to use the Texas statute to handle mass ... Web6 Feb 2024 · The Cleveland-based firm has successfully marketed the Texas two-step to four companies facing asbestos-related litigation — J&J, Georgia-Pacific, a US unit of … Web15 Nov 2024 · The Texas Two-Step is an emerging legal strategy being used by companies to place large amounts of tort liability into bankruptcy while shielding the bulk of their … cotswold handmade meringues