Bankruptcy & Restructuring News Headlines for Friday Apr 22, 2022

Here's what we are reading this morning:

Scoop: CNN+ looks doomed: CNN execs think the launch has been successful. Discovery executives disagree.

Warner Bros. Discovery Expected To Shut Down CNN+ - Variety: Warner Bros. Discovery is shutting down CNN+ and is expected to provide details Thursday, according to two people familiar with the matter, marking one of the company’s first significant maneuvers since completing the merger of WarnerMedia and Discovery less than two weeks ago.

CNN+ Streaming Service Is Set to Shut Down - The New York Times: The new corporate owners of CNN are moving to end the new streaming service just weeks after a splashy debut.

Mortgage Rates Continue to Rise - WSJ: The average rate on a 30-year fixed mortgage rose for the seventh straight week to hit 5.11%.

McKinsey Gets Supreme Court Shot to Stay Jay Alix RICO Case: McKinsey & Co. was given one week to seek relief at the U.S. Supreme Court to avoid facing a federal racketeering suit brought by legal adversary Jay Alix, who is accusing the consulting firm of concealing conflicts of interest to secure high-priced bankruptcy restructuring work.

Banana Republic to permanently shut websites in Europe | Retail Dive: Banana Republic is preparing to shut down its websites in Europe by the end of May. and are scheduled to close on May 31, the company confirmed to Retail Dive.

Kirkland Represents Noteholders on Restructuring of Golden Wheel Tiandi Senior Notes| Kirkland & Ellis LLP: Kirkland & Ellis advised the ad hoc committee of noteholders in a successful restructuring of the New York law governed three tranches of senior notes in an aggregate principal amount of approximately $450 million issued by Golden Wheel Tiandi Holdings Company Limited (HKSE: 1232), a holding company principally engaged in property development in the PRC.

Angry Retail Bondholders Kick Off Contentious GWG Bankruptcy: Life insurance bond seller GWG Holdings Inc.faced stiff opposition from retail investors in its first day in bankruptcy court, kick-starting a contentious case.

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