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Zain Hyder

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Let me explain how it works: 1. Lets suppose there is a very reputed company, whose products have caused severe harm to users and now the users demand a payback or penalty, as the case maybe. The company has enough resources to service their obligations, but it can be counter-productive as it might dent the company finances and their balance sheet. 2. So what can the company do now? The company very conveniently establishes a new subsidiary in a business friendly state like Texas and transfers some assets of the company and also the current and future liabilities arising out the damages of the product in question to the subsidiary. 3. The next step is to file for bankruptcy. Now, all the cases pertaining to the product are a liability of the newly established subsidiary and all the claims are referred to the bankruptcy process, which will take years to come up with a possible resolution and the affected consumers will have to settle for pennies (The company has gone bankrupt which leaves the company with less finances to meet their obligations) 4. When the drama unfolds, the original company walks around like nothing happened!!! Nana

Let me explain how it works: 1. Lets suppose there is a very reputed company, whose products have caused severe harm to users and now the users demand a payback or penalty, as the case maybe. The company has enough resources to service their obligations, but it can be counter-productive as it might dent the company finances and their balance sheet. 2. So what can the company do now? The company very conveniently establishes a new subsidiary in a business friendly state like Texas and transfers some assets of the company and also the current and future liabilities arising out the damages of the product in question to the subsidiary. 3. The next step is to file for bankruptcy. Now, all the cases pertaining to the product are a liability of the newly established subsidiary and all the claims are referred to the bankruptcy process, which will take years to come up with a possible resolution and the affected consumers will have to settle for pennies (The company has gone bankrupt which leaves the company with less finances to meet their obligations) 4. When the drama unfolds, the original company walks around like nothing happened!!! Nana

Abhishek Maurya

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wese dadi hai ni meri na mene dekha hai haa par nana jarur sunate the or sach batao wo kahaniyan kamal ki hoti thi ©Abhishek Maurya #Nana

wese dadi hai ni meri na mene dekha hai haa par nana jarur sunate the or sach batao wo kahaniyan kamal ki hoti thi ©Abhishek Maurya #Nana