Re:Mining firm Rio Tinto sorry for destroying Aboriginal cav...
by vkou on Wednesday July 28, 2021 @11:09PM
(#27992396)
A pass-through entity with no assets should not be allowed to conduct any business where they might incur long-term liabilities.
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Re:Mining firm Rio Tinto sorry for destroying Aboriginal cav...
by jon_richards on Friday July 30, 2021 @12:24PM
(#28009625)
I’ve thought about a system where a company has to purchase liability insurance when they dump assets.
So if a plant has a chemical leak, the company can’t sell every other plant, pay a huge dividend, and then declare bankruptcy to avoid paying damages. The plant would have to be insured for up to the total dividend payout. The insurance company would charge a huge fee based on what they think the plant will end up costing after a court battle, etc.