What J&J tried is called the Texas two-step: they fold the liability into a subsidiary, which relocates to another state and declares bankruptcy. This has faile

What J&J tried is called the Texas two-step: they fold the liability into a subsidiary, which relocates to another state and declares bankruptcy. This has failed for that specific case but that is not a given. This is especially common for industries like mining which are guaranteed to require significant cleanup: https://www.npr.org/2022/10/29/1127520991/west-virginia-coal-mining-alpha https://www.npr.org/2022/10/29/1127520991/west-virginia-coal... https://www.propublica.org/article/west-virginia-coal-blackjewel-bankruptcy-pollution https://www.propublica.org/article/west-virginia-coal-blackj...