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J&J Bankruptcy Ruling Knocks Money Deal

Bloomberg Law

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Are the Texas Two-Step Bankruptcy Cases Going Up the Fourth Circuit?

There are three Texas two-step bankruptcies, similar to J&J's, winding their way through the U.S. bankruptcy court for the Western District of North Carolina. The third circuit is the first circuit to deal with this issue. None of the cases pending in the fourth circuit have gone up the appellate level. And that recently, whether or not that case was filed in good faith is also an issue before the court at the lower level.

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