Bankruptcy & Restructuring News Headlines for Friday Jun 14, 2024

Here's what we are reading this morning:

PPI report: Wholesale prices unexpectedly fell 0.2% in May: The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month against expectations for a 0.1% increase

J.C. Penney closing 4 stores in coming months | Retail Dive: In 2023 net sales, not including credit cards, fell 8.9% to $6.9 billion, as net income plunged 86.4% from last year’s $221 million

Retirees’ Life Savings Can Vanish in Continuing Care Bankruptcies - WSJ: When continuing care retirement communities go bankrupt, residents or their heirs can lose deposits they were told would be refundable

Puerto Rico Bondholders Win Back Rights to Electricity Revenues - WSJ: A federal appeals court said Puerto Rico bondholders have collateral rights over revenue generated by its bankrupt public power utility, a ruling that could delay and possibly upend a planned $10 billion debt restructuring

Bond community hails PREPA decision | Bond Buyer: The public finance community hailed Wednesday's First Circuit Court of Appeals ruling that Puerto Rico Electric Power Authority bondholders had a lien on net revenues.

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