2 posts from September 2024

If You're Gonna File in Texas, You Gotta Have Your Votes in Hand

posted by Adam Levitin

J&J’s at it again with a third talc bankruptcy filing, this time in SDTX.  To paraphrase Marx, the first time was tragedy, the second time farce, and now the third time is fubar. 

Why fubar? tl;dr is that J&J's betting the case on the purported authority of a small Mississippi plaintiffs' firm to unilaterally change the votes of its joint clients from "no" to "yes". 😮🤯

Continue reading "If You're Gonna File in Texas, You Gotta Have Your Votes in Hand" »

September 24, 2024 at 7:16 PM in Corporate Bankruptcy | Permalink | Comments (0)

Elon's Brazilian Corporate Law Surprise

posted by Adam Levitin

Elon Musk has just learned that Brazil doesn't give a lot of credence to the fictions of corporate asset partitioning:  affiliated companies can be liable for each other's involuntary obligations.  This shouldn't be a surprise; Mariana Pargendler's work has made clear that Brazil's got a very different approach to corporate law than the US. In particular, limited liability isn't so strongly fetishized. Now if we only had some sort of legal doctrine in the US that ignored limited liability...

September 13, 2024 at 4:33 PM in Comparative & Int'l Perspectives | Permalink | Comments (0)

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