Bankruptcy & Restructuring News Headlines for Monday Jul 26, 2021

Here's what we are reading this morning:

U.S. Bankruptcy Code Tolling Provision Applies in Chapter 15 Case to Extend Deadlines Under Foreign Bankruptcy Law | Jones Day: In In re Bankr. Est. of Norske Skogindustrier ASA, 2021 WL 1687903 (Bankr. S.D.N.Y. Apr. 29, 2021), the U.S. Bankruptcy Court for the Southern District of New York held that a foreign representative in a case under chapter 15 of the Bankruptcy Code can rely on the Bankruptcy Code's statute of limitations tolling provision to extend the deadline under foreign bankruptcy law to commence avoidance litigation

US Bankruptcy Court Holds Stock Issuer Liable to Lender for Double-Pledged Stock | Troutman Pepper: In In re Karcredit LLC, the U.S. Bankruptcy Court for the Western District of Louisiana was faced with two lenders with claims to one original stock certificate as collateral

Forever 21’s Wind-Down Plan Shot Down, Spoiling Chapter 11 Case: Forever 21 Inc. lost its bid to send its bankruptcy plan to a creditor vote, after a judge ruled that administrative creditors’ failure to respond to a settlement offer shouldn’t be assumed as their consent.

IWIRC 2021 Founders Award Recipients Announced: Tara Schellhorn and Aisling Dwyer Take Top Individual Honors; Outstanding Network Goes to the Carolinas Network

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding the Departure or Appointment/Election of Directors or Certain Officers (Item 5.02) for the Week Ended Sunday Jul 25, 2021:

Most fire victims are still waiting to be paid by PG&E’s Fire Victim Fund, investigation finds | PBS NewsHour Weekend: As it emerged from bankruptcy last year, PG&E set up a million dollar trust for survivors. But an investigation reveals that the payout has been slow. Lily Jamali, reporter with NPR, and co-host and correspondent for the California Reporter joins.

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