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White & Case Beats Disqualification; Boeing MAX Supplier Bankrupt; American Dream Mall Defaults
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Good day. White & Case avoided an attempted disqualification from a $14 billion bankruptcy lawsuit, Boeing's 737 MAX woes pushed a supplier into bankruptcy and the developer of the American Dream mall faces consequences from its default.
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Argentina’s YPF SA has been battling a lawsuit over demands it pay to clean up the contaminated Passaic River.
MARK KAUZLARICH FOR THE WALL STREET JOURNAL
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White & Case Fends Off Effort to Oust It From YPF Pollution Litigation
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The judge presiding over a $14 billion bankruptcy lawsuit against Argentina’s YPF SA refused to disqualify law firm White & Case LLP after it hired the oil giant's former legal strategist. Read More.
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Boeing Jetliner Woes Land Parts Maker Tect Aerospace in Bankruptcy
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Airplane-parts maker Tect Aerospace Group Holdings Inc. has filed for bankruptcy ahead of a planned asset sale, hurt by Boeing Co.’s halt on production of the 737 MAX jetliner and by travel reductions during the coronavirus pandemic. Read More.
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American Dream’s Owner Defaulted. That Could Cost It Revenue From Other Malls
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The developer of American Dream, the sprawling mall and entertainment center outside New York City, is on the verge of losing what amounts to nearly half its ownership interest in two other giant malls. Read More.
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Some power plants, including those owned by Temple, took steps in the days before the storm to increase the chances they would remain operational.
JULIA ROBINSON FOR THE WALL STREET JOURNAL
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Texas Storm Is Windfall for Some Wall Street Firms
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Investors in two formerly bankrupt Texas power generation companies made millions in paper profits when the winter storm in Texas boosted electricity demand. Read More.
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$200 Million
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Estimated paper profits for two power generation companies, Temple Generation I and TexGen Power, from the winter freeze in Texas
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An application has been lodged in an Australian court to wind up the operations of two of Sanjeev Gupta's Australian businesses.
Citibank's London branch, in its role as trustee and at the request of Credit Suisse, lodged the insolvency application in the Supreme Court of New South Wales against OneSteel Manufacturing, which trades as Liberty Primary Steel, and Tahmoor Coal. Both are owned by Mr. Gupta's GFG Alliance. —Dow Jones Newswires
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The pandemic has been a bane for bankruptcies. (Financial Times)
Pacific Gas & Electric, the troubled utility that has started some of California’s most destructive wildfires, faces new criminal charges for its role in igniting a 2019 wildfire that burned 120 square miles in Sonoma County north of San Francisco. (New York Times)
It took a while to notice, but Tyson Foods Inc. eventually realized late last year that more than 200,000 of its cattle seemed to have gone missing on a Washington state ranch. (Bloomberg)
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