Bankruptcy & Restructuring News Headlines for Monday Apr 11, 2022

Here's what we are reading this morning:

Rite Aid stock crashes 20% after Wall Street analyst suggests retailer could go out of business: "We see a likely risk that the company provides guidance next week that causes investors to question the company’s ability to sustain itself as a going concern, leading to a sharp reduction in the value of Rite Aid shares," Hill said.

Vacancy Announcement: Chief Deputy Clerk | United States Bankruptcy Court, District of Delaware: The United States Bankruptcy Court for the District of Delaware is accepting applications for the position of Chief Deputy Clerk. This is a senior level manager who functions under the direction of the Clerk of Court and is responsible to the Clerk of Court for the administration and supervision of the Clerk’s Office.

Interest-Rate Surge Ripples Through Economy, From Homes to Car Loans - WSJ: The Fed’s moves to chill inflation have driven up bond yields and many other borrowing costs linked to them. So far, credit-card rates are holding steady.

ABI Applauds Senate Passage of the "Bankruptcy Threshold Adjustment and Technical Corrections Act" | ABI: Sen. Charles Grassley (R-Iowa) had recently introduced the legislative substitute to raise the debt limit back to $7.5 million for small businesses electing to file for bankruptcy under subchapter V of chapter 11. Consistent with the recommendations of ABI’s Commission on Consumer Bankruptcy, the substitute also raises the debt limit for individual chapter 13 filings to $2.75 million and removes the distinction between secured and unsecured debt for that calculation.

As long-running legal feud slogs on, Lampert and Sears Holdings creditors ordered to mediation | Retail Dive: A federal bankruptcy judge ordered mediation in ongoing litigation between creditors to Sears Holdings, which has been stuck in bankruptcy limbo for more than three years, and the company's former head, Eddie Lampert.

Foreigners Pull Record $15 Billion From Chinese Bonds - WSJ: The retreat probably had several triggers, analysts say, including concerns about the geopolitical risks of investing in China and the market’s diminishing yield advantage compared with U.S. bonds.

Talen Energy, Hit by Surging Gas Prices, in Talks for $750 Million Bankruptcy Loan: The Riverstone Holdings-backed power producer is expected to file for bankruptcy within weeks, after struggling with added hedging costs from rising natural-gas prices, exacerbated by Russia’s invasion of Ukraine, sources say.

Sears Bankruptcy Judge Orders Ex-Chairman Lampert, Creditors to Mediation: Sears vendors expect the lawsuit to close a $60 million funding gap in the retailer’s chapter 11 plan.

Special Servicing Rate Falls in March; Malls Make Up Majority of Newly Transferred Balance: The Trepp CMBS Special Servicing Rate fell 42 basis points in March to 5.66%.

S&P Hits Russia With Default Rating on Foreign Debt: S&P Global moved Russia into default on its foreign-debt credit rating after the government attempted to make a payment on a dollar bond to investors in rubles. The ratings company is the first to declare the country in default. Russia attempted to make the dollar bond payment due April 4 but the t

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