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tmoney144 t1_j6kc0r8 wrote

Reply to comment by rankor572 in J&J’s Talc Bankruptcy Case Thrown Out by Appeals Court by L_Cranston_Shadow

I found this to be helpful: https://www.wbur.org/onpoint/2022/10/20/the-texas-two-step-a-new-bankruptcy-strategy-to-avoid-corporate-liability

It even includes a quote from the Texas attorney who helped draft the statute being used here.

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theUmo t1_j6mgydj wrote

The Wikipedia page is interesting.

The Texas Two-step has only been used 4 times. The first three times were to shed liability for asbestos damage, and J&J is the last one.

All four companies were represented by law firm Jones Day, who represented Trump in lawsuits seeking to stop votes from being counted in the 2020 election.

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