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by esteth
1071 days ago
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This is how it works, at least in this case. J&J is liable for the full liabilities of the new child company. The child exists to make sure a pool of at least its current assets exists to split between all claimants. If they’re found to be liable for more than that, then J&J will be liable for it and, if they can’t service that liability, they will have to declare bankruptancy. |
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Isn't this still J&J the consumer products division rather than J&J the parent company?