declare bankruptcy, paying less than the original company would have. The latest case of a Texas divisional merger was by company, Johnson & Johnson. Recently, J&J has been hit by thousands of lawsuits by women claiming that J&J baby powder, containing talc, caused their ovarian cancer. While the company has held that their products do not cause ovarian cancer, they lost many cases and a lot of money. This is what led them to perform a Texas divisional merger. They split their company, putting all talc liabilities on the new company, and keeping all assets within the original. This halted all cases by women with ovarian cancer, and has been seen as controversial since it keeps women from receiving compensation from Johnson & Johnson. See also United Kingdom insolvency law References Further reading Hansen, Mary Eschelbach, and Bradley A. Hansen. Bankrupt in America: A History of Debtors, Their Creditors and the Law in the Twentieth Century'' (University of Chicago Press, 2020) online review External links United States Courts bankruptcy information from uscourts.gov Links to federal bankruptcy courts from uscourts.gov United States bankruptcy court forms from uscourts.gov Title 11 of the U.S. Code from the Office of the Law Revision Counsel, U.S. House of Representatives Title 11 of the U.S. Code via law.cornell.edu United States Bankruptcy Code and Rules from the American Bankruptcy Institute Rules of Bankruptcy Procedure from law.cornell.edu Current Rules of Practice and Procedure from uscourts.gov The Evolution of U.S. Bankruptcy Law: A Time Line from Federal Judicial Center United States federal commerce legislation