Bankruptcy & Restructuring News Headlines for Monday Jul 19, 2021

Here's what we are reading this morning:

US retail sales rose 0.6% in June, better than decline seen: Americans spent more last month on clothing, electronics and dining out as the economy opened up and pandemic-related restrictions were lifted. Retail sales rose a seasonal adjusted 0.6% in June from the month before, the U.S.

U.S. federal prosecutors investigating Lordstown Motors | Reuters: Lordstown Motors Corp (RIDE.O) said federal prosecutors in Manhattan are investigating the electric-truck maker's vehicle pre-orders and its merger with blank-check company DiamondPeak Holdings.

NFL’s 2020 Revenue Takes Massive Ticket Hit as Packers Report Numbers – It resulted in an operating loss of $38.8 million, the first time in more than 20 years that the team, which plays in the NFL’s smallest market, failed to turn an operating profit. “This was a very challenging year,” team president Mark Murphy said in a call with reporters. "We really feel like we remain in a strong financial position going forward and that we will continue to be able to provide resources for the organization to be successful."

Second Circuit Holds Many Private Student Loans Are Dischargeable in Bankruptcy - Credit Slips: The 2d Circuit this week joined the 5th and 10th Circuits in holding that the discharge exception in 11 U.S.C. § 523(a)(8)(A)(ii) for "an obligation to repay funds received as an educational benefit, scholarship, or stipend" doesn’t cover private student loans, only things like conditional grants (e.g., a ROTC grant that has to be repaid if the student doesn't enlist).

EXCLUSIVE J&J exploring putting talc liabilities into bankruptcy | Reuters: “Johnson & Johnson Consumer Inc. has not decided on any particular course of action in this litigation other than to continue to defend the safety of talc and litigate these cases in the tort system, as the pending trials demonstrate,” the J&J subsidiary housing the company’s talc products said in a statement provided to Reuters.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding the Departure or Appointment/Election of Directors or Certain Officers (Item 5.02) for the Week Ended Sunday Jul 18, 2021:

How Climate Change Hit Wine Country - The New York Times: Sunscreen on grapes. Toilet water that is treated and used for irrigation. Napa Valley winemakers are taking extreme steps in the face of climate change.

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