alt Hacker NewsSounds like it's time for GreenPeace USA to follow the chemical industries example - do a corporate reorg, put all the liabilities in specific subsidiary and then declare bankrupacy for that subsidiary.
Replies
rayiner • yesterday at 4:35 PM
That’s specifically illegal under bankruptcy law. It’s called fraudulent transfer.
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gamblor956 • yesterday at 9:00 PM
The proper way to do it would be to let Greenpeace USA go insolvent and then immediately form GreenPeace America as a new entity unhindered by the liabilities of the old one.
This tactic has been used by our current President.
I assume that is the point of having a Greenpeace USA -- to shield Greenpeace International and other Greenpeace organizations from liability. And it seems to have mostly worked.