Over the past decade, companies burdened with significant asbestos and other tort liability have utilized the so-called “Texas Two-Step” strategy to separate those tort liabilities from core assets and resolve them through the chapter 11 bankruptcy process. The “Texas Two-Step” involves a “divisional merger” permitted under the Texas Business Organizations Code and has garnered renewed national attention when it was used by Johnson & Johnson last month as the means to address tort liability arising from its talc products.

Please join us for a webinar where our esteemed panelists will provide an overview of the Texas Two-Step, including key rulings, as well as important features and considerations in large tort bankruptcy cases generally, and discuss their reactions to and predictions for the J&J bankruptcy cases.