Bankruptcy & Restructuring News Headlines for Friday Oct 6, 2023

Here's what we are reading this morning:

Are FTX’s Bankruptcy Claims A Screaming Bargain?: FTX’s debt has soared in the last few months but still sells at less than 50% of par value. Look carefully before you leap.

Moody's Analytics CRE | Apartment Market Softens, Office Evolution Continues, and Retail On Shaky Ground: The commercial real estate (CRE) market remains in a precarious situation – high interest rates are affecting loan performance and refinance, uncertainty over return-to-office (RTO) mandates and office utilization have dampened office leasing activities, the slow recovery in downtown foot traffic stressed retail that relied on 9-5 commuters, and a construction boom has built pressure in multifamily vacancy but done little to solve the long-run housing shortage or persistent affordability crisis.

FTX Employees Found Alameda’s Secret Backdoor Months Before Collapse - WSJ: The crypto exchange allowed Alameda to have a negative balance of up to $65 billion, prosecutors say.

Wine Buyers’ Claim to Stranded Bottles Spills Into Bankruptcy Court - WSJ: Customers of defunct wine marketplace Underground Cellar want to retrieve 500,000 bottles that lender TriplePoint Capital claims as its collateral.

New York Bankruptcy Judge Who Oversaw Madoff Fallout to Retire: Cecelia G. Morris, the Southern District of New York bankruptcy judge who presided over part of the fallout of the massive Bernie Madoff Ponzi case, will retire on Jan. 31, 2024.

Texas Capital Bank Sues Ginnie Mae Over $28 Million Bankruptcy Loan - WSJ: The bank alleges the government took away its loan collateral, leaving it empty-handed.

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