Bankruptcy & Restructuring News Headlines for Wednesday Jul 21, 2021

Here's what we are reading this morning:

The Third Circuit, Latent Tort Claims And Bankruptcy Code § 524(g) | Fox Rothschild LLP : Notwithstanding the Third Circuit’s “regret,” we think it unlikely that debtors with contingent liabilities to latent claimants will adopt the § 524(g) route for a number of reasons.

The Texas Two-Step: The New Fad in Fraudulent Transfers - Credit Slips: The result is that one successor entity ends up saddled with the tort liabilities (BadCo) and the other with the assets (GoodCo).

How Boosted went bust - The Verge: An inside look at how the beloved electric skateboard startup fell apart

Drought in Utah Town Halts Growth - The New York Times: Groundwater and streams vital to both farmers and cities are drying up in the West, challenging the future of development.

Winston & Strawn taps McDermott restructuring co-head | Reuters: Winston & Strawn has a new top bankruptcy partner, the firm said Tuesday, after poaching the global co-head of McDermott Will & Emery's restructuring & insolvency practice. Tim Walsh will serve as the global chair of Winston's restructuring and insolvency group, the firm said.

Houston’s Yellow Cab files for bankruptcy, could be replaced by zTrip: Houston’s Yellow Cab services may soon come to an end after the company announced it’s filing for bankruptcy.

Destiny USA’s junk bonds get a new trustee as mall owner seeks debt deal - New bond trustee UMB Bank has distressed debt team with workout specialists.

Sacklers did not influence Purdue in deal talks, examiner finds | Reuters: The Sackler family members who own Purdue Pharma LP did not exert any improper influence over a special committee of the OxyContin maker’s board in negotiating a settlement worth billions of dollars to resolve opioid-related litigation, an independent examiner has determined.

Johnson & Johnson Taps Jones Day to Explore Talc Bankruptcy: Johnson & Johnson has engaged law firm Jones Day to advise the company as it explores placing a subsidiary in bankruptcy to help settle thousands of personal injury claims linking talcum-based baby powder to cancer, people familiar with the matter said.

The World’s Biggest Miner Picks Profit Over Production - WSJ: BHP stays cautious on investing in new projects even as prices for commodities such as iron ore and copper trade near record highs.

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