Bankruptcy & Restructuring News Headlines for Friday Jun 25, 2021

Here's what we are reading this morning:

The Third Circuit Seeks to Clarify Sovereign Immunity in Bankruptcy | Dechert LLP : The Third Circuit’s opinion in Venoco helps illuminate the rather murky area of sovereign immunity in bankruptcy proceedings. Whether it is adopted by courts outside of the Third Circuit, and whether the Supreme Court ultimately endorses its approach, remain to be seen.

Dozens of Ex-Sears Stores to Hit Market as CEO Culls Assets - Bloomberg: The owner of former Sears stores is looking to sell as many as 50 properties as it tries to generate cash and focus on the development of other sites it owns. Seritage Growth Properties, a real estate investment trust that emerged from the Sears bankruptcy, wants to unload 40 to 50 sites that “were less interesting in terms of uses of our capital,” according to Chief Executive Officer Andrea Olshan.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Material Impairments (Item 2.06) for the Week Ended Thursday Jun 24, 2021:

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