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This podcast discusses 3M's class settlement with water authorities, Bed Bath & Beyond's BABY IP asset sale, and Yellow Corp.'s negotiations with the teamsters union. They explore high yield distress debt, bankruptcy events, financial analysis, projected earnings, acquisitions, and upcoming events for debtors like Bittrex and Envision Amstrad.
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- 3M facing a potential multibillion-dollar settlement with water authorities over PFAS contamination.
- Bed Bath & Beyond selling BABY IP assets, while Yellow Corp. negotiates with teamsters union amidst debt maturities.
Deep dives
Municipalities Settle PFAS Claims for $10.5 Billion
Municipalities and water authorities are seeking a settlement with 3M worth $10.5 to $12.5 billion to resolve allegations of contaminating drinking water with PFAS substances. This settlement, part of a class settlement with public water systems, does not cover potential personal injury or public nuisance liability. The U.S. Court of Appeals affirmed that Petrelios de Venezuela SA is still recognized as an alter ego of the Republic of Venezuela, allowing creditors to pursue assets in the United States.
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highlights
Listen to the best highlights from the podcasts you love and dive into the full episode