Calif. A.G. Bonta to Supreme Court: Healthy, Solvent Corporations Should Not Exploit Bankruptcy to Avoid Liability
January 24, 2024
January 24, 2024
OAKLAND, California, Jan. 24 -- California Attorney General Rob Bonta issued the following news release on Jan. 23, 2024:
Attorney General Rob Bonta today joined a multistate amicus brief urging the U.S. Supreme Court to review a bankruptcy court's decision permitting a Texas company to exploit an elaborate, unfair bankruptcy loophole enabling otherwise healthy corporations to avoid financial liability without ever declaring bankruptcy themselves. The brief, filed in Bestwall LLC v. . . .
Attorney General Rob Bonta today joined a multistate amicus brief urging the U.S. Supreme Court to review a bankruptcy court's decision permitting a Texas company to exploit an elaborate, unfair bankruptcy loophole enabling otherwise healthy corporations to avoid financial liability without ever declaring bankruptcy themselves. The brief, filed in Bestwall LLC v. . . .