Bankruptcy & Restructuring News Headlines for Monday Apr 25, 2022

Here's what we are reading this morning:

Blackstone’s (BX) Service King Nears Out-of-Court Deal to Ease Debts - Bloomberg: Auto collision repair company Service King, suffering from rising costs and labor shortages, is nearing an out-of-court deal to ease its debt load ahead of a looming bond maturity, according to people with knowledge of the situation.

Alex Jones's Infowars Bankruptcy Lawyer Promises Fairness to Sandy Hook Families - Bloomberg: Advisers for bankrupt companies tied to far-right radio host Alex Jones shed light on the conspiracy theorist’s business operations in bankruptcy court Friday while promising transparency -- and cash -- to families of Sandy Hook shooting victims suing him for defamation.

STX Remaining Independent Studio, Divorces Eros, Closes Najafi Deal – Deadline: There’s been a lot of biting rumors around STX Entertainment during the past four months, from a potential sale to Lionsgate to possibly filing Chapter 11. These are not coming to realization as the Hustlers and Bad Moms studio now can breathe a sigh of relief, having fully closed its sale to The Najafi Companies, with Birch Grove LP and 777 Partners now also providing financing.

Marymount California will close after failed merger: Two days after Saint Leo University and Marymount California University called off plans to merge, the latter institution announced Friday that it would close in August.

Inside the Implosion of CNN+ - The New York Times: Seen as the future of CNN, the streaming channel was suddenly killed. Its soon-to-be owner, Discovery, had concerns but until the deal closed, it was constrained in guiding a competitor.

Office buildings are 'going to struggle' in the post-pandemic world, real estate investor explains: “I think remote work is going to be a permanent feature,” Jonathan Litt, founder and chief investment officer of Land and Buildings, a real estate activist hedge fund, said on Yahoo Finance Live. “I think there’s going to be a real struggle for traditional landlords.”

China’s Restructuring Firms Staff Up for Record Wave of Defaults: China’s property crisis has triggered an unprecedented wave of defaults in the world’s second-largest debt market. That means for some companies hired to clean up the fallout, business couldn’t be better.

No Stranger to Failure, Founder of Sunac China Fights to Save His Property Empire - WSJ: Sun Hongbin is trying to prevent Sunac from suffering the same fate as China Evergrande Group and other developer rivals that have spiraled into default following government-imposed curbs on borrowing.

EYP Strengthens Its Position for Continued Growth : To achieve its financial objectives and facilitate the sale, EYP and certain affiliates voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

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