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Aspiring Lawyers - Interviews & Vacation Schemes
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Texas Two-Step
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<blockquote data-quote="Tstrack" data-source="post: 106955" data-attributes="member: 756"><p>Hi All</p><p></p><p>Wanted to provide an update on the above - a new article has been published on the subject. </p><p></p><p>[URL unfurl="true"]https://www.ft.com/content/025e7678-ced9-4c53-aa17-c539d621bde7[/URL]</p><p></p><p>It largely confirms [USER=9978]@IRO[/USER]'s commentary. I've briefly outlined recent developments in the article (not already covered by the above) for those interested: </p><ul> <li data-xf-list-type="ul">The original lawmakers (Colin Huff, Steven Wolens) who wrote the bill allowing for divisive mergers have now commented on the recent use of the statute, stating that they did not intend for companies to use it to avoid liabilities. </li> <li data-xf-list-type="ul">The original intention of the statute was to create a more flexible business environment in Texas. </li> <li data-xf-list-type="ul">Ruling for the motion to dismiss LTL's bankruptcy, originally filed by the talcum powder lawsuit claimants, is expected by end of February. This is expected to either open floodgates for other companies to take advantage of the 'Texas Two-Step' or rule it out as a tactic.</li> </ul></blockquote><p></p>
[QUOTE="Tstrack, post: 106955, member: 756"] Hi All Wanted to provide an update on the above - a new article has been published on the subject. [URL unfurl="true"]https://www.ft.com/content/025e7678-ced9-4c53-aa17-c539d621bde7[/URL] It largely confirms [USER=9978]@IRO[/USER]'s commentary. I've briefly outlined recent developments in the article (not already covered by the above) for those interested: [LIST] [*]The original lawmakers (Colin Huff, Steven Wolens) who wrote the bill allowing for divisive mergers have now commented on the recent use of the statute, stating that they did not intend for companies to use it to avoid liabilities. [*]The original intention of the statute was to create a more flexible business environment in Texas. [*]Ruling for the motion to dismiss LTL's bankruptcy, originally filed by the talcum powder lawsuit claimants, is expected by end of February. This is expected to either open floodgates for other companies to take advantage of the 'Texas Two-Step' or rule it out as a tactic. [/LIST] [/QUOTE]
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