3rd Circ. Throws Out J&J Talc Unit's 'Texas Two-Step' Ch. 11

By Vince Sullivan (January 30, 2023, 12:02 PM EST) -- The Third Circuit on Monday dismissed the Chapter 11 case of Johnson & Johnson's talc unit that used a controversial "Texas two-step" maneuver, saying the company was not in financial distress and lacked the required good faith to commence its bankruptcy case....

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