Bankruptcy & Restructuring News Headlines for Monday Apr 17, 2023

Here's what we are reading this morning:

The Block: The US SEC is getting ready to scrutinize DeFi markets even further: The agency looks poised to expand further into policing decentralized finance and is likely to declare that rules governing trading exchanges in the U.S. also apply to decentralized finance.

Vice Media Hires Interim Finance Chief as It Seeks a Buyer - WSJ: The media company has hired an executive from turnaround specialist AlixPartners to be its interim finance chief as it looks for a buyer.

David’s Bridal lays off over 9K as it pursues a sale | Retail Dive: David’s Bridal is laying off 9,236 workers nationwide, according to a WARN notice filed in Pennsylvania

CFTC Chief Doubles Down on Binance in Wake of Crypto Case - Bloomberg: The head of Commodity Futures Trading Commission admonished Binance Holdings Ltd over its compliance with US rules after the derivatives regulator sued the crypto exchange and its chief executive last month for a litany of alleged violations.

Auto suppliers struggle with rising debts costs, cash flow | Crain's Detroit Business: While automakers took in record profits over the past few years, their suppliers absorbed the impact of supply chain snarls by cutting costs, trying to renegotiate contracts and often taking on more debt.

David's Bridal to Continue Marketing and Sale Process Under Chapter 11 Protection as Stores Remain Open and Orders are Fulfilled: In light of its liquidity constraints, the Company was unable to finalize its marketing and sale process out of court and intends to continue exploring a sale of all or some of its assets pursuant to section 363 of the Bankruptcy Code. Alongside these efforts, the Company is also strategically managing inventory and evaluating its physical footprint to maximize value and the prospect of a successful going concern transaction.

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