This sounds like a similar strategy taken straight out of the Hollywood Accounting [1] playbook:
“On Friday, Reuters reported that J&J secretly launched ‘Project Plato’ last year to shift liability from about 38,000 pending Baby Powder talc lawsuits to a newly created subsidiary, which was then to be put into bankruptcy. By doing so, J&J could limit its financial exposure to the lawsuits.”
“On Friday, Reuters reported that J&J secretly launched ‘Project Plato’ last year to shift liability from about 38,000 pending Baby Powder talc lawsuits to a newly created subsidiary, which was then to be put into bankruptcy. By doing so, J&J could limit its financial exposure to the lawsuits.”
[1] https://en.m.wikipedia.org/wiki/Hollywood_accounting