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The Texas Two-Step bankruptcy strategy is a controversial legal maneuver that some large corporations have attempted to shield themselves from massive liability claims—without having to declare full corporate bankruptcy. The name comes from a two-step process that’s legal under Texas law, allowing a company to split into two entities, place all legal liabilities in one, …
In a monumental decision that could permanently reshape corporate accountability in mass tort litigation, a Houston bankruptcy court rejected Johnson & Johnson’s (J&J) $10 billion talc settlement plan. The ruling, handed down by U.S. Bankruptcy Judge Christopher Lopez on March 31, 2025, has not only thrown J&J’s litigation strategy into disarray but also restored the …
Johnson & Johnson (J&J), a multinational corporation renowned for its healthcare products, has recently concluded a pivotal bankruptcy trial concerning its proposed $9 billion settlement to address thousands of lawsuits alleging that its talc-based products caused cancer. This trial, held in Houston, has significant implications for both the company and the claimants seeking justice. For …
