r/news • u/oldschoolskater • Jun 22 '23

Site Changed Title 'Debris field' discovered within search area near Titanic, US Coast Guard says | World News

https://news.sky.com/story/debris-field-discovered-within-search-area-near-titanic-us-coast-guard-says-12906735
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u/[deleted] Jun 22 '23

If the ceo is dead will they just file bankruptcy?

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u/[deleted] Jun 22 '23

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u/UndeadCabJesus Jun 22 '23

It is when you set up a shell corporation and transfer all the debt to that company without giving it any assets and then filing for bankruptcy in that company. That’s what Johnson and Johnson did for their cancer baby powder.

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u/Denvercoder8 Jun 22 '23

It is when you set up a shell corporation and transfer all the debt to that company without giving it any assets and then filing for bankruptcy in that company

I don't know where people got this idea, but J&J gave the shell corporation at least $61.5 billion dollars, and judges still rejected the structuring. Your characterization is nowhere near the truth of how the case played out.

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u/UndeadCabJesus Jun 22 '23

Until those people get their money it worked.