Texas Two Step

Subscribe to Texas Two Step
Certificate of motor insurance and policy with car and dollar bills.
Vlad Deep, Unsplash

Law360 recently published an article by Mayer Brown restructuring partners Sean T. Scott and Aaron Gavant and associate Josh Gross, regarding the Third Circuit’s recent decision directing the dismissal of J&J affiliate LTL Management’s mass tort bankruptcy filing.  The article expands upon a prior post on the decision and discusses potential implications of the Third…

In a decision likely to have significant impact on certain types of bankruptcy filings going forward, this morning, the Third Circuit Court of Appeals ordered the dismissal of the Chapter 11 bankruptcy case filed by Johnson & Johnson affiliate LTL Management LLC.

After completing a multi-step divisional merger under Texas law (which led to LTL…