J&J Bankruptcy Ruling Knocks Money Deal
Bloomberg Law
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Johnson-Johnson Bankruptcy Case - Is LTL in Financial Distress?
The third circuit ruled against J&J over its Texas two-step. The opinion kind of grapples with what's the question of what is good faith when you file for bankruptcy. And they determined under third circuit law that a valid bankruptcy purpose, which would satisfy good faith, requires that there be some form of financial distress.
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