Bayer is continuing its push to resolve lawsuits linking Roundup, its popular weedkiller, to cancer. People familiar with the matter told the Wall Street Journal that the company is also exploring a bankruptcy filing for its Monsanto agriculture business in case the settlement plan fails.
Bayer is drawing up plans to try and resolve some of its mass lawsuits over Roundup through proceedings in a Missouri state court, where a majority are still pending. Given its past difficulties in ending the Roundup litigation in civil courts, the German drug and agriculture conglomerate is preparing, as another option, a bankruptcy filing covering the weedkiller’s U.S. manufacturer, Monsanto.
One possible option, the Texas Two Step, has yielded mixed results after court rulings curbed the use of Chapter 11 to protect solvent companies from litigation. Bayer is exploring the option of placing Monsanto’s U.S. business directly into Chapter 11.
SOURCE: NAFB News Service and Wall Street Journal