Bankruptcy & Restructuring News Headlines for Monday Dec 6, 2021

Here's what we are reading this morning:

New York Based Grocery Delivery Service 1520 Shuts Down: The company burned through capital as it slugged it out against competitors trying to corner the US market, a sign of shakeup in ultrafast grocery delivery.

Avoiding an Out-of-Court Restructuring May Breach Fiduciary Duties | Dechert LLP: A Delaware Bankruptcy Court denied a motion to dismiss breach of fiduciary duty claim against a Debtors’ former directors who failed to pursue out-of-court restructuring because lenders would not indemnify the directors.

Hahnemann Hospital Investor Denied Court Approval for Rescue Loan: The investor who bought Philadelphia’s Hahnemann University Hospital before its collapse failed to win bankruptcy court approval for a $17.5 million loan on the defunct healthcare center’s underlying real estate.

Limetree Bay Refinery’s Lead Bankruptcy Bid Challenged by Liquidator: Backup bidders for the bankrupt Limetree Bay refinery in the U.S. Virgin Islands say dismantling it is better for the local population than the lead bidder’s plan to restart operations.

Pacific Gas & Electric fined $125 million for 2019 Kincade Fire - CNN: Pacific Gas & Electric (PG&E) must pay $125 million for its role in the 2019 Kincade Fire in Sonoma County, according to a settlement with the California Public Utilities Commission (CPUC).

China Evergrande Requests Help From Government After Warning of New Debt Crunch - WSJ: The government of Guangdong, China’s province where the struggling developer is based, says it will dispatch a working group at the request of Evergrande to help the company manage its risks.

20 years after Enron, have we learned its lessons?: Twenty years ago last week, on Dec. 2, 2001, Enron filed for Chapter 11 bankruptcy, concluding in spectacular fashion an unparalleled corporate scandal

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