Bankruptcy & Restructuring News Headlines for Friday Feb 17, 2023

Here's what we are reading this morning:

Troubling signs emerge as credit card debt hits record high: As credit card debt hit an all-time high — just shy of $1 trillion — in the final three months of 2022, delinquencies among borrowers accelerated.

The Block: FTX Digital Markets commingled client funds, Bahamian liquidators say: The joint provisional liquidators unwinding FTX’s bankruptcy in the Bahamas filed a lengthy report on Feb. 8 that said the company had “limited” accounting records and made “little distinction between what represents, potentially, client monies and corporate funds."

Fuel Pump Maker Stanadyne Files for Chapter 11 Bankruptcy: The fuel pump maker said it has assets and liabilities of as much as $500 million each in its bankruptcy petition; Cerberus Business Finance LLC listed as holding a $281 million claim against Stanadyne

US SEC Sues Over TerraUSD Stablecoin Leading to Industry’s Fall - Bloomberg: The US Securities and Exchange Commission sued the company behind TerraUSD, a crypto stablecoin whose collapse last year kicked off an industrywide crisis and a cascade of high-profile bankruptcies.

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