Bankruptcy & Restructuring News Headlines for Friday Apr 28, 2023

Here's what we are reading this morning:

Fire Sale: $300 Million San Francisco Office Tower, Mostly Empty. Open to Offers. - WSJ: 350 California Street was worth $300 million four years ago. It might sell for 80% less now, brokers say, in a market where office vacancy rates have soared.

Stress Builds as Office Building Owners and Lenders Haggle Over Debt - The New York Times: The health of banks and cities and the nation’s economy could hinge on high-stakes negotiations over commercial real estate loans.

Mexico Won't Recognize US Ch. 11, TV Azteca Says - Law360: Mexican television producer TV Azteca is asking a New York bankruptcy judge to dismiss its involuntary Chapter 11 case, saying it's pointless to start reorganization proceedings for the company anywhere but Mexico.

David's Bridal Bankruptcy Leaves Retailer Staking Survival on Bond With Brides - Bloomberg: CEO says Chapter 11 sale process has been active, NDAs signed

How Bed Bath & Beyond lost its suppliers’ trust, and doomed itself | Retail Dive: In the years leading up to bankruptcy, the retailer alienated major vendors by betting on private labels, and, when that didn’t work, stock buybacks. 

F.B.I. Searches Home of Top FTX Executive - The New York Times: Ryan Salame, a former top FTX executive and a prolific Republican donor, faces mounting legal pressure for his role in Sam Bankman-Fried’s business empire.

Harley Says Repo Shortage for Motorcycles Is Fueling Credit Losses - Bloomberg: There are not enough people to repossess all the motorcycles. That was the message from Harley-Davidson Inc., which said Thursday its credit losses in the first quarter were due in part to a shortage of repossession agents.

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