Bankruptcy & Restructuring News Headlines for Monday Apr 3, 2023

Here's what we are reading this morning:

FTX EU LTD (Cyprus) Commences Process for Return of Segregated Funds Pursuant to Cyprus Law: FTX EU LTD (formerly K-DNA Financial Services LTD) today announced that it has initiated processes to allow customers of FTX EU LTD to request final balances in advance of withdrawal of fiat currency funds remaining in segregated client accounts of FTX EU LTD.

Carlyle-Owned Natural Gas Plant Business Files for Chapter 11 Bankruptcy: Cogentrix Lincoln seeks breathing room from and looks to sue a regional transmission operator demanding collateral and penalties after service issues caused by winter storm Elliott.

Crypto Exchange Bittrex to Exit US Due to Regulatory Challenges - Bloomberg: Crypto exchange Bittrex Inc., founded in 2014 by three Amazon Inc. alumni, is shutting down its US operations, citing a regulatory environment that has made it “no longer feasible” to operate in the country.

Private bankruptcy filings are blowing past their COVID-era peaks as credit stress builds for small businesses: Warning signs of a potential credit crunch were flashing even before Silicon Valley Bank's stunning collapse, as this year sees record high bankruptcy filings by small- to mid-sized private businesses, according to UBS.

McDonald’s Temporarily Shuts U.S. Offices as Chain Prepares for Layoff Notices - WSJ: The fast-food company is expected to notify workers of their job status virtually. The layoffs are part of a broader restructuring.

Bitcoin Liquidity is Drying Up as Crypto ‘Tourists’ Recoil From Industry Disorder - Bloomberg: By just about any measure, Bitcoin liquidity remains low, despite the cryptocurrency’s eye-catching upsurge this year.

Boxed, Inc. to Execute Sale of Spresso Software Business Through Voluntary Chapter 11 Process: The Company made the decision to wind down its retail e-commerce operations over the next several weeks. The Company’s Board of Directors has unanimously determined that seeking Chapter 11 protection is the most appropriate path forward.

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