Japanese Aircraft Lessors Beat Creditor’s Challenge to U.S. Bankruptcy Filing: A bankruptcy judge says the Airbus lessors’ secured lender didn’t show their chapter 11 filing was in bad faith.
AMC Entertainment Refinances Pricey Pandemic Debt: The theater company received investor commitments for a money-saving bond deal, despite a selloff that has called into question the longevity of its meme-stock status.
Cineworld debt pile set to save cinema operator from bankruptcy | Financial Times: Cineworld is expected to skirt bankruptcy for the second time in two years, say lenders, despite the UK cinema group facing an almost $1bn payout that exceeds its market value for pulling out of a deal to buy Canadian rival Cineplex.
What Happens If a Cryptocurrency Exchange Files for Bankruptcy? - Credit Slips | Adam Levitin: Exchanges play a key role in the cryptocurrency ecosystem, but no one seems to have given any consideration to so far is what happens when a cryptocurrency exchange that provides custodial services for its customers ends up in bankruptcy.
TPC Group Enters into Forbearance Agreement with Noteholders and Receives Liquidity Commitment: The Company did not make approximately $53 million in total interest payments due on the secured notes on February 1, 2022; the payments are subject to a 30-day grace period. The Company signed a forbearance agreement with the Ad Hoc Group, under which the Ad Hoc Group has agreed to forbear from exercising remedies relating to the event of default that will occur if the Company does not make the February 1 coupon payments within the 30-day grace period. The forbearance agreement is effective until March 18, 2022 and may be extended by the Ad Hoc Group.
Southern District of Texas Considers Venue Rule Change: The U.S. Bankruptcy Court for the Southern District of Texas has pitched a rule change that would require non-individuals "principal location" to be in a county in the district 180 days immediately before a petition is filed, up from 91 days.
Natalie Jaresko to Leave the Financial Oversight and Management Board for Puerto Rico: The Financial Oversight and Management Board for Puerto Rico today announced that Natalie Jaresko is stepping down as Executive Director and interim Revitalization Coordinator.
Law Professors Can Join Attack on J&J Baby Powder Bankruptcy: Law professors opposed to Johnson & Johnson’s baby powder bankruptcy can help opponents of the company make legal arguments against the controversial Chapter 11 case, a judge ruled.
Why the January Jobs Report May Disappoint, and Is Sure to Perplex - The New York Times: Omicron’s impact is likely to be reflected unevenly in the data, and normal seasonal patterns may have been upended.
Apple Made a Change That Is Hammering Internet Companies Like Meta - The New York Times: Meta’s stock prices plunged after reporting that Apple’s privacy features would cost it billions this year. It’s not the only tech company to take a hit.
CF Industries Clears Path for Restructuring at U.K. Units - Bloomberg: Bondholders of fertilizer producer CF Industries Holdings Inc. agreed to amend the company’s debt covenants, clearing a path for it to restructure its troubled U.K. operations