Texas Shuffle: Corporate Strategies to Sidestep Mass Tort Accountability Unveiled
In a significant legal twist reminiscent of a Texas two-step dance, corporations accused of wrongdoing are employing a sophisticated strategy to sidestep the repercussions of mass tort liability. This maneuver involves the creative use of bankruptcy filings not just to reorganize debt but as a shield against large-scale lawsuits. Typically, these cases involve allegations of product liabilities, environmental damages, or other mass harm events that impact numerous plaintiffs. The legal tool at the center of this strategy is known as the Texas two-step, named not for its state of origin but for its bifurcated approach. … Read more