Not familiar with the “quato” term—I’m used to good-co/bad-co or old-co/new-co.
The starting point of the fraudulent transfer question is the Texas Business Organizations Code, which expressly states that a merger doesn’t result in a transfer or assignment having occurred. Conceivably, that pervades the analysis under the Texas Uniform Fraudulent Transfer Act and the provisions of the Bankruptcy Code that relate to fraudulent transfer. But because of the Supremacy Clause, maybe not.
Ultimately, it’s complicated, and a question that won’t be addressed for years and years if ever (there’s an interesting side note about why creditors don’t get to raise that issue during the bankruptcy proceeding, and why LTL “merged” in Texas then reincorporated immediately in North Carolina). By the time that legal question gets reached, many of the claimants will have died from cancer, so it puts pressure on claimants to reach a resolution within the LTL bankruptcy, even if it’s a shitty one.