• Kirk Hartley

New Jersey May Require Divestiture of Assets Owned By Companies That Appear to Use Bankruptcy to Avo

New Jersey may have come up with a new tactic for economic retaliation against an entity suspected of using chapter 11 to avoid paying legacy liability claims. An apparently credible June 27, 2018 article at NJ.com suggests the Governor may sign legislation that would require divestiture of pension investments in entities that use chapter 11 filings to avoid paying legacy liabilities. See  https://www.nj.com/news/index.ssf/2018/06/nj_pension_invests_in_defunct_passaic_river_pollut.html

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