Bankruptcy & Restructuring News Headlines for Friday May 12, 2023

Here's what we are reading this morning:

Judiciary Ends COVID Emergency; Study of Broadcast Policy Continues | United States Courts: The COVID-19 emergency is no longer affecting the functioning of the federal courts, the Judicial Conference’s Executive Committee has found, setting in motion a 120-day grace period in which federal courts may continue to provide the same remote public audio access to civil and bankruptcy proceedings as they did during the emergency

Crypto Lender Nexo Takes Steps to Dissolve UK Units - Bloomberg: The London-based firm applied to strike off Nexo Financial Services Ltd. and Nexo Clearing and Custody Ltd. from the UK companies register, filings showed this month. Nexo co-founder Antoni Trenchev said in messages to Bloomberg News that the firm was “doing some restructuring” and “rethinking the way we go about servicing clients,” but did not plan to exit the country.

Credit Suisse CDS Surge as Hedge Funds See Potential Trigger - Bloomberg: An illiquid corner of swaps insuring Credit Suisse Group AG debt surged back to life this week as some hedge funds make the case they should be triggered.

Crypto Lender BlockFi Customers Can Be Repaid $300M Held in Custodial Accounts, Judge Says: A further $375 million that users tried to transfer out of interest-bearing accounts after Nov. 10 still belongs to the estate, Bankruptcy Judge Michael Kaplan said

Cattle as collateral complicates Minnesota bankruptcy case - Agweek: The case involves Tri-County Livestock Exchange of Motley, Minnesota; AgCountry Farm Credit Services; and a couple who borrowed money for their cattle operation.

PacWest shares tumble 20% after regional bank says deposits fell 9.5% last week: Shares of PacWest were already down 40% this month and more than 70% for the year.

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