Media Mentions
SRZ Partner Doug Mintz Quoted in Axios
June 13, 2023
Schulte Roth & Zabel partner Doug Mintz recently spoke to Kate Marino for her Axios article, “Bankruptcy judge tosses Chapter 11 case by 3M's Aearo Technologies,” to discuss a novel strategy used by major corporations facing sizable legal liabilities. The strategy, moving legal liabilities into a single subsidiary and then filing for bankruptcy for that subsidiary, has been rejected by courts in two recent cases.
According to Doug, “[c]ourts are pushing back on the notion of companies using bankruptcy to shield themselves against mass torts.” He explained that in these two cases, “....the courts have held that there is a specific standard for filing a company for bankruptcy.”
Read the article here.
