Bankruptcy & Restructuring News Headlines for Monday Jul 4, 2022

Here's what we are reading this morning:

2 Litigators Tapped For SDNY Bankruptcy Bench - Law360: Two new bankruptcy judges have been appointed in the Southern District of New York, one a Weil partner and the other a Kramer Levin partner.

Kohl's real estate sale on the table after deal talks fall apart: Kohl's might not be selling its business after all. But it's now looking to sell some of its real estate.

Atlanta Fed GDP tracker shows the U.S. economy is likely in a recession: A Federal Reserve tracker of economic growth is pointing to an increased chance that the U.S. economy has entered a recession.

Crypto billionaire Sam Bankman-Fried predicts more exchanges will fail: In an interview with Forbes, 30-year-old crypto billionaire Sam Bankman-Fried said there are "some third-tier exchanges that are already secretly insolvent."

RadioShack reinvents itself as a crypto platform with wild tweets - The Washington Post: “It’s our voice, a new voice, one for the people,” said Abel Czupor, the chief marketing officer. “RadioShack’s audience used to be only an older demographic, but as times have changed and e-commerce has taken over, the old voice of RadioShack is no longer relevant.”

Troubled Lender Babel Finance Reportedly Hires US Investment Bank Houlihan Lokey: Babel Finance suspended withdrawals on June 17 — citing “unusual liquidity pressures” — similar to competitors Celsius, Finblox and CoinFLEX. The company said in a statement last week that it was looking to fulfill its legal responsibilities to customers by continuing “to avoid further transmission and diffusion of liquidity risks.”

Voyager Seeks 'Strategic Alternatives' Following Pause to Withdrawals - Blockworks: In a letter to users on Friday, the lender said it was suspending trading, deposits, withdrawals and loyalty rewards on its platform in a bid to buy time while it seeks out “strategic alternatives.”

Older Post Newer Post