Inside Johnson & Johnson’s bankruptcy two-step
Behind the Money21 Juni 2022

Inside Johnson & Johnson’s bankruptcy two-step

Johnson & Johnson, one of the world’s largest healthcare companies, is facing thousands of lawsuits from people alleging they got cancer from using one of their oldest products: talc-based baby powder.


To manage the growing liability, J&J recently deployed a controversial new bankruptcy manoeuvre known as the Texas Two-Step.


In this week’s episode, we explore whether J&J’s use of this manoeuvre is setting a new precedent for corporations to evade accountability in America.


Update: A new version of this episode was uploaded on June 21, 2022 to update the number and outcome of trials 3M has faced related to one of its products.


Clip courtesy of NBC News

- - - - - - - - - - - - - - - - - - - - - - - - - -

For further reading:

Johnson & Johnson’s ‘Texas-two-step’ sparks outcry over US bankruptcy regime

Architects of ‘Texas two-step’ lambast J&J for its use of the manoeuvre

‘Texas two-step’ outcry risks ending fee bonanza for law firm Jones Day

J&J’s Texas two-step waltzes over its liabilities

- - - - - - - - - - - - - - - - - - - - - - - - - -


On Twitter, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07)


Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Avsnitt(318)

Taking Tesla private

Taking Tesla private

What is behind Elon Musk's plan to take the electric carmaker private, and who will provide the funding? The FT's Arash Massoudi explains the story that has unfolded since the chief executive posted h...

14 Aug 201819min

Tesla’s rough ride

Tesla’s rough ride

Elon Musk's grand vision for the electric carmaker has drawn dedicated fans and followers. But Tesla has also tested the patience of customers and investors after a hit-and-miss on production targets ...

7 Aug 201818min

Private equity's debt mountain

Private equity's debt mountain

Private equity has flooded the deal market in recent years, in part due to an era of cheap debt and fund managers on the hunt for greater investment returns. Firms are scooping up stakes in oil pipeli...

31 Juli 201820min

Taking a short break

Taking a short break

Behind The Money is going on a short hiatus for the next few weeks. We'll be back on Tuesday 31 July with brand new episodes. In the meantime, send us an email to behindthemoney@ft.com if you have any...

3 Juli 20181min

The  $100bn SoftBank vision

The $100bn SoftBank vision

The man who built a $100bn fund has wooed investors with his vision for the future. But what is really behind the prowess of SoftBank's Masayoshi Son? With the FT's Arash Massoudi. Read Arash's story ...

26 Juni 201820min

Trump, trade and the markets

Trump, trade and the markets

After a week that began with a tense G7 summit and ended with the US imposing more tariffs on Chinese goods, many expected to see a big slide in financial markets. But stocks remained flat last week. ...

19 Juni 201819min

Following the cannabis money trail

Following the cannabis money trail

Medical marijuana is legal in 21 countries. In Canada, residents expect they will be able to buy cannabis from dispensaries and pharmacies across the country later this year. Some analysts have valued...

12 Juni 201819min

The hunt for Fox

The hunt for Fox

Rupert Murdoch built a global media empire across newspaper, television and film companies. Why is now the time for him to sell many of the 21st Century Fox assets? And which media or telecoms giant w...

5 Juni 201820min

Populärt inom Business & ekonomi

framgangspodden
varvet
rss-jossan-nina
svd-tech-brief
rss-svart-marknad
rss-borsens-finest
badfluence
uppgang-och-fall
avanzapodden
bathina-en-podcast
fill-or-kill
rss-dagen-med-di
rss-inga-dumma-fragor-om-pengar
rikatillsammans-om-privatekonomi-rikedom-i-livet
lastbilspodden
rss-kort-lang-analyspodden-fran-di
borsmorgon
tabberaset
bilar-med-sladd
24fragor