[CurlyDave]

I think that the Sandy Hook litigation is the likely reason for bankruptcy. If the Navajo nation is smart (and I’m sure that their advisors are) the transaction will be structured to leave liability from prior litigation in the past. I used to be an investment banker and even after 25 years, I can think of at least two structural alternatives that would prevent any old litigation liability from attaching to the new owners. The legal status of an Indian tribe (taxes and other immunities) could make it very interesting.

Since the pious fiction is that the Navajo are a sovereign nation, this might make them immune from lawsuits.

[TheConservativeBanker]

That might be in play for future litigation, but transaction structure can take care of current liabilities. Issues like taxation and the potential for immunity add some speculative opportunities.