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The Texas Two-Step: Corporate Strategy or Legal Loophole?
Mar 7, 2024
Legal experts explore mass torts, bankruptcy, and the Texas Two-Step strategy, focusing on Purdue Pharma's bankruptcy and the implications of third-party releases. The podcast discusses corporate liability, product safety, and the use of legal loopholes in managing liabilities, highlighting the complexities of landmark legal battles.
24:41
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Quick takeaways
- Companies facing mass tort liabilities can utilize the Texas Two-Step strategy for efficient asset and liability separation.
- Third-party releases in mass tort cases raise controversy around victim compensation and civil liability absolution.
Deep dives
Definition and Scope of Mass Tort Cases
Mass torts involve multiple victims harmed by the actions of a company, resulting in numerous legal claims. Examples like asbestos, defective products, environmental disasters, or harmful practices show various types of mass torts. High liabilities from mass tort cases challenge companies and can lead to significant financial and legal complexities.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode