( December 6, 2024, 1:51 PM EST) -- WASHINGTON, D.C. — Three U.S. senators reintroduced a bill on Dec. 5 that would force courts to dismiss any Chapter 11 case where a company has used the Texas Two-Step to place all of its liabilities, usually from asbestos personal injury claims, with a spinoff company that then files for bankruptcy protection. The measure would also prohibit the use of nonconsensual, nondebtor releases of third parties in bankruptcy cases, which the U.S. Supreme Court recently held are illegal....