Here's what we are reading this morning:
Rick Bayless says Chicago restaurants devastated by omicron 'about to give up' - Chicago Tribune: “A lot of the restaurateurs and chefs that I’m talking to are just about to give up,” Bayless said. “They’re incredibly discouraged. Nobody knows what to do at this point, because the numbers are so low.”
Purdue Pharma Bankruptcy Plan Appeal Goes to Second Circuit: Purdue Pharma LP’s Chapter 11 plan protecting Sackler family members from opioid-related litigation will get review before a federal appeals court.
Florida Bankruptcy Court Rules that Foreign Debtor Need Not Have U.S. Residence, Assets, or Place of Business to Be Eligible for Chapter 15 Recognition | Jones Day: Distancing itself from Drawbridge Special Opportunities Fund LP v. Barnet (In re Barnet), 737 F.3d 238 (2d Cir. 2013) as nonbinding precedent and widely criticized, the bankruptcy court ruled that chapter 15 has its own eligibility requirements, and that the eligibility requirements for debtors in cases under other chapters of the Bankruptcy Code do not apply in chapter 15 cases
SPAC-Backed ATI Physical Therapy Seeks Capital, Debt Extension: The struggling rehabilitation provider has tapped Evercore and Weil Gotshal & Manges to assist in negotiations with investors, while a group of term loan holders is getting advice from Gibson Dunn & Crutcher and PJT Partners, according to the people, who asked not to be identified because the talks are private.