Bankruptcy & Restructuring News Headlines for Friday Jun 18, 2021

Here's what we are reading this morning:

After Blowing $300 Billion, U.S. Shale Oil Is Finally Making Money - Bloomberg: Industry scraps pump-at-any-cost model that burned investors

Multifamily Occupancy Update: Key Markets See Sizable Loans Post Large Declines – Commercial Observer: Certain markets like New York and San Francisco have seen some sizable loans on multifamily properties post large declines in occupancy.

Lordstown Says it Has No 'Binding' Orders - The New York Times: Lordstown Motors, the struggling electric vehicle start-up, told securities regulators on Thursday that it did not have “binding” orders for a pickup truck it is developing, correcting statements made by its president on Tuesday.

Staples, Inc. Announces CEO Transition: Staples, Inc., the owner and operator of the Staples North American Delivery business, announced that the Company and J. Alexander (Sandy) M. Douglas, Jr. have mutually agreed that Mr. Douglas will step down as Chief Executive Officer

How airlines can win in their post-pandemic recovery | AlixPartners: For carriers in the northern hemisphere, the summer travel season should offer some indication of challenges that lie ahead.

U.S. weekly jobless claims show surprise rise to highest level in weeks: Initial jobless claims totaled 412,000 last week, an increase of 37,000 from the previous week and higher than the 360,000 estimate.

Mortgage rates shoot higher after Fed Chairman Powell's comments: The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April.

BCG Sees Significant Public Company Stress: A little more than one in five North American public companies were not “financially or operationally stable” at the end of the first quarter, according to a BCG report published Wednesday. Despite the economic recovery currently underway, certain industries are still struggling, the company said.

Boy Scouts Said to Be Close to Deal With Sex Abuse Survivors (1): The Boy Scouts of America is nearing a settlement with sexual abuse claimants that could accelerate the end to its nine-figure bankruptcy saga, according to people familiar with the matter.

Creditors to Sell $463 Million of Air Berlin and Alitalia Claims - Bloomberg: A group of creditors that bought Etihad Airways PJSC-linked bonds are preparing to auction $463 million of claims against insolvent airlines Alitalia and Air Berlin to recover some of their investment. The trustee of bonds issued by EA Partners I and II -- two special purpose entities set up by the Abu Dhabi-based carrier -- hired Barclays Bank Plc to arrange the sale, according to a statement. Potential buyers will be able to access documentation on June 21 and the auction will take place within two weeks, it said.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Material Impairments (Item 2.06) for the Week Ended Thursday Jun 17, 2021:

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