Debtwire Restructuring Forum - Miami

The must-attend event for the US restructuring community!

JW Marriott Miami, Brickell, Miami, Florida

01 Dec

(Stream A - Market Dislocations) Panel: The evolution of the Texas two-step

Debtors facing mass tort liabilities are using a lesser-known Texas law that allows a business in the Lone Star State to perform a divisive merger in order to preserve and protect the legacy entity’s assets whilst resolving its mass tort liabilities through the Chapter 11 process. Johnson & Johnson’s debtor subsidiary LTL Management recently made efforts to extend the reach of the Texas two-step, seeking to suspend two state actions in New Mexico and Mississippi pending against LTL and certain non-debtor entities, including J&J, during the pendency of LTL’s Chapter 11 case.

image image
  • Speakers keyboard_arrow_down
    Melanie L. Cyganowski Practice Group Leader Bankruptcy/ Insolvency Otterbourg P.C.
    Greg Gordon Partner Jones Day Bio
    Aileen Ramia Legal Analyst Debtwire