Bankruptcy & Restructuring News Headlines for Tuesday Aug 31, 2021

Here's what we are reading this morning:

Limetree Woos Buyers and Lights Flare for Shutdown Operations | St. John Source: Limetree Bay will begin purging its lines Monday for an indefinite shutdown while sending 19 non-disclosure agreements to prospects it hopes will take over its short-lived refinery operation.

Circuit City bankruptcy headed for conclusion after nearly 13 years - Richmond BizSense: Motions were filed earlier this summer for an entry of a “final decree” and the trust’s final report, which typically indicates a bankruptcy estate’s work is done and there’s nothing more to recover for creditors.

Griddy Energy customers won't have to pay for sky-high electricity bills from winter storm - CNN: Griddy Energy customers won't be financially responsible for the sky-high electricity bills charged during February's devastating winter storm, thanks to a new settlement announced Monday by Texas Attorney General Ken Paxton.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Bankruptcy or Receivership (Item 1.03) for the Week Ended Monday Aug 30, 2021:

Schemer or Naïf? Elizabeth Holmes Is Going to Trial. - The New York Times: The trial for the founder of Theranos, the once high-flying blood testing start-up, will cap a saga of Silicon Valley hubris, ambition and deception.

Boy Scouts Insurance Fight Complicates Deal to Pay Abuse Victims - Bloomberg: A dispute over whether a unit of insurance giant Chubb Ltd. must contribute to a trust fund for sexually abused Boy Scouts is complicating talks to end the youth group’s bankruptcy case.

Madoff Victims Get Second Crack at Citigroup’s $343 Million - Bloomberg: Victims of Bernard Madoff will get another chance at recovering $343 million from Citigroup Inc. after a federal appeals court overturned a ruling dismissing a claim against the bank.

Luxury New Mexico Resort Files for Bankruptcy as Owners Feud: The Bishop’s Lodge hotel in Santa Fe, N.M., part of the Auberge Resorts Collection, filed for bankruptcy Monday blaming mismanagement and construction delays amid a feud between the luxury resort’s owners.

Boy Scouts Are Close to New Deal With Insurer Hartford on Sex-Abuse Claims: The youth group is nearing a revised deal with Hartford Financial Services for the insurer to compensate survivors of childhood sexual abuse and ease the Boy Scouts’ exit from bankruptcy.

Greensill’s U.S. Unit Files Plan to Liquidate, Repay Creditors: Greensill Capital’s U.S. subsidiary filed a plan to wrap up its bankruptcy by creating a liquidation trust that will pursue claims over more than $65 million in transferred funds.

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