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Johnson & Johnson’s “bankruptcy”
Today, Explained
Texas Two-Step - The Greatest Innovation in the History of Bankruptcy?
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The Texas Two-Step has been driven by a bunch of smart lawyers at the law firm, Jones Day. Each of its equity partners took home, on average, about $1.3 million that year. Koch Industries, Georgia Pacific, first deployed this scheme back in 2017. All these cases are actually linked to as best-offs-related lawsuits.
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