Talk:Texas two-step bankruptcy

Inaccurate information
This line "While Texas divisive mergers have existed since 1989, only four companies have employed them to facilitate a subsequent bankruptcy to shield the parent company from tort liabilities as part of a Texas two-step." Is not true. More than four companies have used TTS for tort liability. Source 3 on this page mentions Bestwall and CertainTeed. I believe 3M also did it (https://www.ft.com/content/82ee5808-716e-47ae-acfb-2aba4b3d1502). This number should be changed. 209.2.231.221 (talk) 21:42, 28 March 2023 (UTC)
 * Thanks for your comment. My read of the sources is that 4 parent companies have used it: Georgia-Pacific (into Bestwall), CertainTeed, Trane Technologies, and J&J. I can't access the FT article, but my understanding of the 3M case is that 3M is using a pre-existing subsidiary to file for bankruptcy, rather than creating a new subsidiary via a Texas divisive merger. I think a separate wikipedia article on 3rd party releases in US Bankruptcy would be the best place for cases like 3M...maybe I'll have time some day to write it (3rd party releases are when a company or person uses another's bankruptcy to get a release -- like the parent companies in Texas two-steps or 3M). Happy to reevaluate further if you think I've got this wrong. BananaCarrot152 (talk) 23:36, 4 April 2023 (UTC)