‘The greatest innovation in the history of bankruptcy’
One thing to start: Elon Musk has confirmed on a video call with his advisers that he intends to close his $44bn acquisition of Twitter on Friday, potentially bringing an end to the turbulent acquisition process, according to people briefed about the matter.
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In today’s newsletter:
The origins of the “Texas two-step”
Adidas cuts Kanye
The new era of Hollywood austerity
How Jones Day made a fortune with the ‘Texas two-step’
Greg Gordon, a partner at Cleveland-based law firm Jones Day, didn’t mince his words when describing the benefits of the “Texas two-step”, the elaborate bankruptcy strategy he devised to help companies deal with mass tort claims.
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This story originally appeared on: Financial Times - Author:Tax Cognition
