Bankruptcy & Restructuring News Headlines for Friday Aug 13, 2021

Here's what we are reading this morning:

California Drought: A Dry Season Is Turning Into Drought Era - Bloomberg: Drought across the Western U.S. has forced California to ration water to farms. Hydroelectric dams barely work. The smallest spark—from a lawnmower or even a flat tire—can explode into a wildfire.

Bankruptcy Judge Questions CertainTeed’s Asbestos Maneuver - WSJ: The building-materials company may have defrauded injury claimants when it used a corporate affiliate with no employees or operations as a “vessel designed to ferry…asbestos liabilities into bankruptcy,” a judge said.

Warburg-Backed Shale Driller Taps Evercore to Explore Options - Bloomberg: Ensign Natural Resources LLC has hired investment bank Evercore Inc. to help evaluate options after receiving some inbound interest in its assets, according to people with knowledge of the matter.

Purdue Pharma Director Says Sacklers Required Full Release in Bankruptcy Deal - WSJ: The family members who own OxyContin maker Purdue Pharma required broad legal releases extinguishing opioid lawsuits against them as a condition for funding what became a roughly $4.5 billion settlement proposal, a company director testified Thursday during a bankruptcy trial examining the deal.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Material Impairments (Item 2.06) for the Week Ended Thursday Aug 12, 2021:

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