Bankruptcy & Restructuring News Headlines for Friday Dec 3, 2021

Here's what we are reading this morning:

Purdue Judge Seeks Thoughts on Bankruptcy ‘Abuse’ Before Ruling: U.S. District Judge Colleen McMahon has asked parties in the Purdue Pharma LP opioid settlement appeal to brief her on whether or not aspects of the OxyContin maker’s bankruptcy plan are “abusive,” an issue she highlighted at the end of a hearing Tuesday.

More Chinese developers seek domestic bond issuance | Reuters: Three Chinese developers, including the main operation platforms of Country Garden Holdings Co and Longfor Group Holdings Ltd, plan to sell bonds in China to raise a combined 18 billion yuan ($2.83 billion), the official registration system showed late on Wednesday, evidence Beijing is marginally easing liquidity strains on the cash-strapped sector.

Sean ‘Diddy’ Combs Seeks to Buy Namesake Brand Out of Bankruptcy - Bloomberg: Hip-hop entrepreneur Sean “Diddy” Combs has bid $3.3 million to buy the assets of Sean John, the fashion and lifestyle brand he founded in 1998, out of bankruptcy.

NJ Diocese Fights Bid To Value Sex Abuse Claims In Ch. 11 - Law360: A bankrupt New Jersey Catholic diocese on Wednesday slammed a creditor committee's bid to suss out the value of hundreds of clergy sex abuse claims in its Chapter 11 process.

Omicron clouds outlook for international travel that was just turning a corner: The U.S., U.K. and other nations have revived travel restrictions just as demand was recovering.

BuzzFeed Suffers Wave of SPAC Investor Withdrawals Before Going Public - WSJ: The withdrawals are expected to substantially reduce digital media outlet’s cash on hand.

Enron Executives, 20 Years Later: Where Are They Now? - Bloomberg: It’s been 20 years, to the day, since Enron Corp. filed for bankruptcy, marking one of the most spectacular financial collapses in history and forever cementing its legacy as the posterchild of corporate fraud.

Prof. Melissa Jacoby: Like SDNY, EDVA bankruptcy court has announced change to judicial assignment rules for mega cases.: Changes take effect 2/15/2022.

Prof. Melissa Jacoby: EDVA district court also making some case assignment changes for which district judges hear appeals from final bankruptcy court orders in mega cases.:

U.S. Worker Shortage Not Likely to Ease Soon, Survey Shows - Bloomberg: Unemployed Americans are in no rush to get back to work anytime soon, suggesting labor shortages that have been afflicting employers across industries are likely to persist, a U.S. Chamber of Commerce survey shows.

RBI initiates insolvency proceedings against Reliance Capital at NCLT - Times of India: The Reserve Bank of India (RBI) on Thursday filed an application for initiation of Corporate Insolvency Resolution Process (CIRP) against debt-ridden Reliance Capital at the Mumbai bench of the National Company Law Tribunal

Dutch energy company Anode Energie insolvent due to high prices: Dutch energy company Anode Energy plans to file for bankruptcy, the company said on Wednesday, the third in the Netherlands this year to become insolvent due to high energy prices.

Talen Gets GoldenTree, Silver Point Loan After Debt Breach: Talen Energy Corp. received a loan from a group led by GoldenTree Asset Management and a division of Silver Point Capital that will provide it with much-needed liquidity after it breached a term on its existing debt.

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