This is the opposite of what happened. The court rejected their first two step attempt for not having a high enough payout and forced the subsidiary to have a 61.5 billion dollar payout maximum.
And yet in every company where the Texas Two Step has been done, funding, "requirements" etc., have been blatantly disregarded and the only ones who have been screwed over are said claimants.
Georgia Pacific, faced with several billions in claims, formed a subsidiary, and "pledged" to fund it to the full amount, starting with an initial $1B funding...
Actually only funded it to the value of $175M. Less than $3,000 per claimant for mesothelioma.
