Long Island Diocese Abuse Victims Creditors Seek $340 Million: Creditors of the Roman Catholic Diocese of Rockville Centre have proposed a bankruptcy exit plan that would provide at least $340 million to resolve child sex abuse claims.
Bed Bath & Beyond receives Nasdaq warning over late 10-Q | Retail Dive: The distressed retailer has until March 13 to regain Nasdaq listing compliance by submitting the financial report.
GameStop lays off employees, plans to close Kentucky distribution center | Retail Dive: The retailer’s 630,000-square-foot Shepherdsville location is now listed as available for lease starting July 1.
The Block: Moody’s downgrades Coinbase, says outlook is stable: Pressure on Coinbase remains in terms of profitably without a sustained crypto asset price increase that Moody’s is not confident will manifest
AMC Seeks New Lifeline After Meme-Stock Bubble Pops: Facing box-office weakness and a declining share price, the cinema chain is asking shareholders to approve a transaction that could help it avoid the fate of other fallen meme stocks.
People Who Bought Cars at Lofty Prices Are Falling Behind on Auto Loans: People who bought cars at sky-high prices during the pandemic are falling behind on their auto loans in greater numbers.
U.S. Seizes Additional Assets Tied to Bankrupt FTX: Collection disclosed in a Friday court filing includes $56 million in U.S. currency and 87 million euros from two banks.
Infowars’ Financial Records in Bad Shape, Bankruptcy Trustee Says: A bankruptcy trustee probing Alex Jones’ Infowars said the company’s financial records “are not in good order,” but she’s made “significant headway” in investigating the amount of money it has paid or transferred to the right-wing conspiracist in the last 11 years.
Serta Readies Chapter 11 Filing, Skips Interest Payment on Loan: Serta Simmons Bedding skipped an interest payment on part of its debt this week and is using a grace period to hammer out a deal with lenders that could see it file for bankruptcy in the coming days, according to people with knowledge of the situation.
Standardizing and Unbundling the Sub Rosa DIP Loan by Kenneth Ayotte, Alex Zhicheng Huang: Recent DIP loans are tied to plan terms including rights offerings, which give the DIP lender exclusive rights to purchase discounted equity in the reorganized company, and backstop fees, which pay the rights holder for committing to purchase them. Terms like these raise fears that DIP loan approval is being used to short circuit the Chapter 11 reorganization plan process–in bankruptcy parlance, that the DIP loan is a sub rosa plan.
Celsius Official Committee of Unsecured Creditors: "The latest cash flow forecast and coin report just hit the docket and is available here": "The latest cash flow forecast and coin report just hit the docket"
