Bankruptcy & Restructuring News Headlines for Friday Aug 6, 2021

Here's what we are reading this morning:

Vantage Drilling Eyes M&A Review as Energy Markets Recover: Vantage Drilling International is considering a strategic review that could end in an attempt to sell the offshore drilling contractor, according to people with knowledge of the matter.

SoftBank-Backed Auto-Leasing Startup Weighs Bankruptcy, Other Options - Bloomberg: Fair Financial Corp., a startup car-leasing company backed by SoftBank Group Corp.’s Vision Fund, is preparing a bankruptcy filing, potentially wiping out equity investors, according to people familiar with the matter.

Amazon postpones return to office until January 2022: Amazon previously said it expected most of its employees to begin returning regularly to the office the week of Sept. 7.

Continuing jobless claims hit new pandemic-era low, falling below 3 million: Initial jobless claims totaled 385,000 for the week ended July 31, meeting estimates.

The New Normal: Impact of the Global Pandemic on U.S. Restructurings - Weil Restructuring: While a spike in Chapter 11 filings was seen in the second and third quarters of 2020 as the effects of COVID-19 meaningfully impacted corporate liquidity, this trend has abated as the U.S. Congress and Federal Reserve stepped in to support the U.S. economy.

American Dream Mall Draws on Reserves to Make Bond Payment - Bloomberg: American Dream, a $5 billion super mall in New Jersey’s Meadowlands, had to tap into a reserve fund to make a bond payment as it copes with a cash flow crisis exacerbated by the coronavirus.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Material Impairments (Item 2.06) for the Week Ended Thursday Aug 5, 2021:

Solstice Sunglasses Emerges from Chapter 11, Second Avenue Capital Partners Provides $6.5MM Exit Facility - News | ABL Advisor: The Company retained Morgan, Lewis & Bockius L.L.P. as its legal counsel, RCS Real Estate Advisors to advise on all store leases, and KCP Advisory Group LLC’s Jacen Dinoff as Chief Restructuring Officer.

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