Bankruptcy & Restructuring News Headlines for Friday May 26, 2023

Here's what we are reading this morning:

Celsius Announces Fahrenheit, LLC as Winning Bidder to Manage New Entity to Be Owned by Celsius Creditors | Business Wire: "The Plan will distribute hundreds of millions of dollars of additional liquid cryptocurrency compared to the prior “stalking horse” bid that set the floor for the auction, and the management fees to be paid to Fahrenheit were also reduced by hundreds of millions of dollars compared to the stalking horse bid. The winning bid also provides attractive offers for Celsius to immediately energize its mining rigs that are currently inactive and for NewCo to build its mining business over time."

KKR-Backed Healthcare Provider GenesisCare Preps For Bankruptcy Filing Within Days: GenesisCare, a provider of cancer care services backed by KKR, is preparing to file for bankruptcy within days, according to people familiar with the matter. 

MoviePass tries again: It's launching another subscription service - New York Business Journal: MoviePass said it's opening up its subscription service for nationwide availability beginning this Memorial Day weekend

Crypto’s Digital Currency Group Ends TradeBlock Institutional Trading Platform - Bloomberg: Digital Currency Group, the digital-asset conglomerate that is negotiating with creditors of its bankrupt lending business, is closing down its TradeBlock subsidiary that provides trade execution, pricing and prime brokerage services to institutional investors.

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