Anthony DeWitt assesses the legal implications of a multinational company falling into bankruptcy, with a particular focus on the US.
No industry so profoundly affects the citizens of the world as the pharmaceutical industry, as evidenced by the Covid-19 pandemic. The scientific miracles wrought by researchers produced vaccines in record time. No one doubts the many significant contributions of these organizations.
Subject to regulation in every country where they do business, these companies often have organizational charts with more arrows than an archer’s convention, populated by multiple corporations, partnerships, and LLCs, in multiple countries.
This organizational structure serves two purposes. It allows pharmaceutical companies to respond to government regulators within the respective countries where they sell products....