Bankruptcy & Restructuring News Headlines for Friday Oct 21, 2022

Here's what we are reading this morning:

Diebold Nixdorf Announces Agreement with Key Financial Stakeholders to Support Debt Refinancing to Address Certain Near-Term Maturities and Provide $400 Million in Additional Financing; Provides Update on Financial Information: Diebold Nixdorf (NYSE: DBD), a world leader in automating, digitizing and transforming the way people bank and shop, today announced entry into a comprehensive agreement with key financial stakeholders to support transactions that would refinance certain debt with near-term maturities and provide the company with $400 million in new capital.

Crypto lender Voyager sends $1.42 bln FTX sale to creditor vote | Reuters: Bankrupt crypto lender Voyager Digital received initial court approval on Wednesday for a $1.42 billion sale of its assets to exchange platform FTX, allowing Voyager to solicit creditor votes on the proposal.

Law firm Cooley adds first restructuring partner in Chicago | Reuters: Silicon Valley-founded law firm Cooley on Wednesday said it has hired a Perkins Coie restructuring partner who specializes in healthcare for its growing Chicago office.

Securities Exchange Commission Reporting and Chapter 11: Most public reporting companies in chapter 11 will continue filing and complying with Exchange Act requirements. In rare situations, public reporting companies may seek relief from the SEC to comply with “modified reporting” in lieu of the regular Exchange Act requirements.

Judge Pushes Voyager Digital to Consider Rival Offers to FTX Bid: Bankrupt crypto lender Voyager Digital Ltd. agreed to consider higher offers than the $1.4 billion bid it accepted from FTX US, the digital-asset exchange founded by billionaire Sam Bankman-Fried, a decision that could increase payouts to customers who had their accounts frozen.

Diebold Gets $400 Million, Plots Debt Extension in Creditor Deal: Diebold Nixdorf Inc., an ATM maker that been struggling for years to keep up with debt and operating expenses, reached a restructuring deal with creditors that will provide new financing and buy it more time to repay debt.

U.S. Home Sales Dropped for Eighth Straight Month in September - WSJ: Sales of previously owned homes declined 1.5% in September from the prior month to a seasonally adjusted annual rate of 4.71 million, the weakest rate since May 2020, the National Association of Realtors said.

Jobless Claims Fell Last Week in Still-Tight Labor Market - WSJ: Initial jobless claims decreased to a seasonally adjusted 214,000 last week, a sign layoffs remain low in a tight labor market.

Cryptocurrency service provider agrees to return $17 million to digital lender Celsius: Prime Trust agreed at a hearing at the U.S. Bankruptcy Court for the Southern District of New York on Thursday to return the money to settle a lawsuit.

An often-overlooked economic measure is signaling serious trouble ahead: According to The Conference Board's Leading Economic Indicators index, conditions worsened in September.

Nuri, a German cryptocurrency bank, warns 500K users to remove money before it shuts down - Bollyinside: Customers of German cryptocurrency bank Nuri (formerly known as Bitwala) are being urged to withdraw their money before December 18 in order for the “company to be terminated and liquidated.” Due to the lengthy crypto bear market and macroeconomic factors, Nuri filed for insolvency in August.

Specter of bankruptcy looms over builders in South Korea: Domestic builders are facing growing concerns over the possibility of a series of bankruptcies amid worsening investor sentiment in the wake of the recent slump in the real estate market, according to industry officials, Thursday. Late last month, Wooseok Construction, a medium-sized builder based in South Chungcheong Province, failed to repay its debt in time. If the company fails to make the payment again, it will be forced into bankruptcy.

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