Everything posted by Rudiger
-
KarenKeyLargo - Greatest Hits Thread
She’s lost some weight. Good for her.
-
Las Vegas go hard or go home thread
That veal parm is a beast. A delicious beast.
-
Post a pic that makes you lol
It’s a perfectly cromulent name.
-
Texas AD Chris Del Conte
Neat. How are football and men’s basketball doing?
-
2022 College World Series Thread
“I’m not a big conspiracy guy, but it was obvious the OU players were skin-suit-wearing lizard men….”
-
Greenville Super Regional: Texas @ East Carolina
Although in fairness it loses a little in translation.
-
Greenville Super Regional: Texas @ East Carolina
8 mph
-
Greenville Super Regional: Texas @ East Carolina
Yes, but only because it’s the top of the 9th, and it’s tied.
-
Greenville Super Regional: Texas @ East Carolina
Whoa.
-
Greenville Super Regional: Texas @ East Carolina
It’s every kid’s dream playing whiffle ball in the back yard. Top of the ninth. Home run to tie it.
-
Greenville Super Regional: Texas @ East Carolina
Hey but at least we have football season to look forward to, right?
-
Post a pic that makes you lol
More Francis Bacon if we’re being honest.
-
Post a pic that makes you lol
Now that’s what I call a head on collision.
-
USMNT 2022
That’s a pretty weak goal. How does the keeper let that past him? Oh, right, MLS.
-
The Boat Fanatic Thread
That your friend in the foreground? Lanky guy with a big nose?
-
Austin love triangle murder
Thanks Schrödinger.
-
(no longer) "United" Methodist Church
I see someone is a Goldilocksian.
-
Help Reading Japanese? (Inscription on WW2 Officer Sword)
It says “handle goes here.”
-
Post a pic that makes you lol
Car was white.
-
Baker Mayfield is a piece of shit catchall thread
No, you’re thinking of a Kyler Murray.
-
The Texas Two-Step: Johnson&Johnson Declares Bankruptcy
I’m using market value to mean market capitalization, but we could substitute book value and the point would remain the same.
-
The Texas Two-Step: Johnson&Johnson Declares Bankruptcy
Almost certainly. It would be a fraudulent transfer because it was undertaken with the purpose of delaying, hindering, or defrauding a creditor, and probably because the assignor did not receive reasonably equivalent value in return.
-
The Texas Two-Step: Johnson&Johnson Declares Bankruptcy
Not familiar with the “quato” term—I’m used to good-co/bad-co or old-co/new-co. The starting point of the fraudulent transfer question is the Texas Business Organizations Code, which expressly states that a merger doesn’t result in a transfer or assignment having occurred. Conceivably, that pervades the analysis under the Texas Uniform Fraudulent Transfer Act and the provisions of the Bankruptcy Code that relate to fraudulent transfer. But because of the Supremacy Clause, maybe not. Ultimately, it’s complicated, and a question that won’t be addressed for years and years if ever (there’s an interesting side note about why creditors don’t get to raise that issue during the bankruptcy proceeding, and why LTL “merged” in Texas then reincorporated immediately in North Carolina). By the time that legal question gets reached, many of the claimants will have died from cancer, so it puts pressure on claimants to reach a resolution within the LTL bankruptcy, even if it’s a shitty one.
-
The Texas Two-Step: Johnson&Johnson Declares Bankruptcy
Here's the deal. If J&J filed a Chapter 11, the talc claimants could reject any plan that gave them less than they would get if the company were liquidated under Chapter 7 (since you've represented individuals in bankruptcy, I'm sure you're familiar with the requires for a cramdown). If the market value of J&J is $400B, or even half that, or even one-tenth of that, the market value number has already accounted for secured debt that would have priority over the talc claimants in a bankruptcy. Currently, unsecured claims against J&J are probably negligible compared with the talc claimants' claims, so ultimately a J&J Chapter 11 plan could be voted down if enough of the talc claimants didn't like the amount they were allocated. The divisive merger process takes this off the table and allows J&J to dictate the terms of the settlement. J&J gave LTL an amount of money and all the talc-related liabilities, and theoretically, that's all that will ever be available to pay the talc claimants. And talc claimants can have the plan crammed down over their objection (voting to reject the plan would have no effect), because they will receive at least as much as they would receive if LTL were liquidated under Chapter 7. So the bottom line is the Texas Two-Step allows companies to settle cases by fiat. J&J has literally said "we're settling all these cases for this much. The end." Imagine a divorce proceeding where the other side said "I don't trust a jury to be fair, so I'm giving you this much, and you get to see the kids twice a year--once on this day and once on this day.--and there's nothing you can do about it."
-
Post a pic that makes you lol
Yo-Yo Straw