Bankruptcy & Restructuring News Headlines for Monday Feb 20, 2023

Here's what we are reading this morning:

Figure Partners with NovaWulf to Provide Blockchain Technology Solutions for Proposed Celsius Reorganization: The proposed plan structure contemplates the transfer of Celsius' illiquid assets, including staked ETH and Celsius' loan portfolio, to a "NewCo" to be owned by certain of Celsius' creditors and managed by NovaWulf.

US Malls Collapsing Have Commercial Real Estate Lenders Getting Aggressive - Bloomberg: The big real estate short is spreading to offices from shopping malls

BlockFi Seeks to Strip Sam Bankman-Fried’s Investment Vehicle of Bankruptcy Protections: The crypto lender wants to dismiss the ‘futile’ chapter 11 case filed by the FTX founder’s offshore investment firm.

National CineMedia Again Fails to Pay Interest on Time: National CineMedia, which runs advertisements on movie-theater screens, missed an interest payment on its unsecured bond due Tuesday as it grapples with continued headwinds in the cinema business. 

Bankman-Fried Associate Nishad Singh Nears Plea Deal in US FTX Probe - Bloomberg: Nishad Singh facing fraud charges from Manhattan prosecutors; Singh was once part of the inner circle that helped run FTX

Diamond Sports Skips Debt Payment; Prudential Largest Creditor – Regional sports network operator Diamond Sports Holdings has skipped a $140 million debt payment due Wednesday, formally starting a 30-day grace period during which the Sinclair Broadcast group subsidiary is near-certain to file for a bankruptcy reorganization.

More Auto Payments Are Late, Exposing Cracks in Consumer Credit - WSJ: Borrowers with low credit scores are falling behind on their car payments in numbers unseen since 2010.

The Block: Crypto hedge fund Galois Capital shuts after getting caught up in FTX saga: FT: The FT reported Monday that Galois had sold its bankruptcy claims for 16 cents on the dollar.

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