Bankruptcy & Restructuring News Headlines for Friday Sep 29, 2023

Here's what we are reading this morning:

Rising Loan Costs Are Hurting Riskier Companies - WSJ: Investors fear unsustainably high interest rates will spark bank-loan defaults.

Winklevoss’ Gemini Pulled Cash From Crypto Lender Genesis Before Bankruptcy - Bloomberg: Crypto exchange Gemini Trust Co. withdrew hundreds of millions of dollars from Genesis Global Holdco LLC several months before the lender froze deposits and ultimately filed for bankruptcy.

Headphone Maker with Ties to Drake, T.I. Files Bankruptcy: Headphone maker Muzik Inc. filed for Chapter 11 in California, listing a slew of potential high-profile equity holders that include musicians Drake and T.I. and NBA players Chris Paul and Bradley Beal

GameStop's survival demands 'extreme frugality,' CEO tells employees: Billionaire activist Ryan Cohen was named GameStop's top executive earlier Thursday.

Evergrande’s Stalled Turnaround Plan Casts Doubt on Corporate Restructuring in China - WSJ: China Evergrande is at risk of being broken up or liquidated after regulators in Beijing blocked key parts of the embattled property giant’s proposed turnaround plan, a foreboding sign for other troubled real-estate companies in China.

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