Bankruptcy & Restructuring News Headlines for Friday Sep 23, 2022

Here's what we are reading this morning:

JPMorgan Seeing ‘Very Little’ Demand for Crypto as Payment Tool - Bloomberg: Demand for cryptocurrencies as a payment method has drastically declined over the past six months, according to Takis Georgakopoulos, global head of payments at JPMorgan Chase & Co.

Final Look at Local Housing Markets in August: Inventory Up, Sales Down Sharply, New Listings Decline

Crypto Exchange CoinFlex Floats Debt Restructuring Plan for Creditors to Own 65% - Bloomberg: Cryptocurrency exchange CoinFlex has detailed a restructuring plan in which creditors will own 65% of the company, with a vote on the proposal coming over the next week.

Preference Due Diligence in the Crypto Winter: This article considers how the due diligence language added to Bankruptcy Code §547(b) might be applied to potential preference claims in a cryptocurrency bankruptcy case.

Mortgage Rates Jump to 6.29% in US, Highest Since October 2008 - Bloomberg: Mortgage rates in the US rose for a fifth straight week, threatening to freeze more would-be buyers out of the market for homes.

Bed Bath & Beyond merchandise problems could cripple turnaround plan: Out-of-stock products could cripple Bed Bath’s already-declining sales and push the company toward bankruptcy.

Crypto Mining Data Center Provider Compute North Files for Bankruptcy Protection: The company only last February announced a capital raise of $385M, consisting of an $85 million Series C equity round and $300 million in debt financing.

Hines Reportedly Handing Back The Keys To D.C. Office Building After Law Firm Departure: The owners secured a $135M, 10-year loan from the lender in 2016. But the 302K SF office building became vacant this year after law firm Williams & Connolly completed its relocation to The Wharf.

Motion for immediate appointment of an Official Preferred Equity Committee in the Celsius bankruptcy: "The need for a fiduciary to pursue the Equity Holders’ interests is particularly critical when one considers the practical realities of these cases: there are only two groups of real economic stakeholders – the retail customers and the Equity Holders."

Older Post Newer Post