Representations of cryptocurrencies and Voyager Digital logo are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations 

Voyager Digital logo and decreasing stock graph are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations 

Representations of cryptocurrencies and Voyager Digital logo are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations 

Companies facing thousands of pending lawsuits have offloaded those liabilities onto newly created subsidiaries. Those new firms almost immediately filed for bankruptcy, halting the lawsuits in trial courts. 

Companies facing thousands of pending lawsuits have offloaded those liabilities onto newly created subsidiaries. Those new firms almost immediately filed for bankruptcy, halting the lawsuits in trial courts. 

After decades of mounting asbestos litigation, Saint-Gobain’s CertainTeed had accumulated approximately $2 billion in litigation costs. The company used the Texas two-step bankruptcy maneuver to stop more than 60,000 legal actions in months. 

After decades of mounting asbestos litigation, Saint-Gobain’s CertainTeed had accumulated approximately $2 billion in litigation costs. The company used the Texas two-step bankruptcy maneuver to stop more than 60,000 legal actions in months. 

Revlon products are seen on display for sale in a Boots store in London, Britain, June 16, 2022. REUTERS/Hannah McKay 

Revlon products are seen on display for sale in a Boots store in London, Britain, June 16, 2022. REUTERS/Hannah McKay 

Revlon signage is seen on display in a Boots store in London, Britain, June 16, 2022. REUTERS/Hannah McKay 

Revlon products are seen on display for sale in a Boots store in London, Britain, June 16, 2022. REUTERS/Hannah McKay 

Theresa Germont poses for a portrait at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont holds a photo of herself and her late husband, William Germont, at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont poses for a portrait at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont poses for a portrait at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont holds a cross pendant that her late husband, William Germont, used to wear, at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont is pictured with her late husband, William Germont, in a wedding photo hanging at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont holds a photo of herself and her late husband, William Germont, at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont sorts through photos at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont poses for a portrait at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

A journal entry from William Germont is pictured in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont poses for a picture at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

A journal entry from William Germont is pictured in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont is pictured with her late husband, William Germont, in a photo on her bedside table at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont poses for a portrait at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont poses for a portrait at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont is pictured with her late husband, William Germont, in a wedding photo in an album at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Theresa Germont poses for a portrait at her home in Ambler, Pennsylvania, U.S., May 3, 2022. Picture taken May 3, 2022. REUTERS/Hannah Beier 

Judge Michael Kaplan chats with another attendee after attending a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, speaks on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, greets attendees after speaking on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, speaks on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, greets attendees after speaking on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, speaks on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, greets attendees after speaking on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, speaks on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, speaks on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, speaks on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Greg Gordon, partner at Jones Day, speaks on a panel discussing Texas two-step bankruptcy cases at the American Bankruptcy Institute’s annual spring meeting at the JW Marriott hotel in Washington, U.S., April 29, 2022. REUTERS/Leah Millis 

Former tennis player Boris Becker leaves after his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker leaves after his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker leaves after his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker leaves after his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker leaves with his partner Lilian de Carvalho Monteiro and his son Noah Becker after his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker leaves with his partner Lilian de Carvalho Monteiro and his son Noah Becker after his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker leaves with his partner Lilian de Carvalho Monteiro and his son Noah Becker after his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker and his son Noah Becker take a cigarette break during his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Police officers intervene after a person approached former tennis player Boris Becker and his son Noah Becker on their cigarette break during bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

A person talks to former tennis player Boris Becker and his son Noah Becker as they have a cigarette break during his bankruptcy offences trial at Southwark Crown Court in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker arrives with his partner Lilian de Carvalho Monteiro at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker arrives with his partner Lilian de Carvalho Monteiro and his son Noah Becker at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker arrives with his partner Lilian de Carvalho Monteiro and his son Noah Becker at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker arrives with his partner Lilian de Carvalho Monteiro at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker arrives at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 8, 2022. REUTERS/Peter Cziborra 

Former tennis player Boris Becker arrives with his partner Lilian de Carvalho Monteiro at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 5, 2022. REUTERS/Tom Nicholson 

Former tennis player Boris Becker arrives at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 5, 2022. REUTERS/Tom Nicholson 

Former tennis player Boris Becker arrives with his partner Lilian de Carvalho Monteiro at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 5, 2022. REUTERS/Tom Nicholson 

Former tennis player Boris Becker arrives with his partner Lilian de Carvalho Monteiro at Southwark Crown Court for his bankruptcy offences trial in London, Britain, April 5, 2022. REUTERS/Tom Nicholson 

Salem Harbor Power Station, a natural gas-fired power plant operated by Footprint Power, stands in Salem, Massachusetts, U.S., March 24, 2022. Picture taken March 24, 2022. REUTERS/Nate Raymond 

Former tennis player Boris Becker arrives with his partner Lilian de Carvalho Monteiro at Southwark Crown Court for his bankruptcy offences trial in London, Britain, March 21, 2022. REUTERS/Peter Nicholls