Bankruptcy & Restructuring News Headlines for Monday Jul 5, 2021

Here's what we are reading this morning:

June 2021 jobs report: U.S. adds 850,000 jobs, better than expected: Nonfarm payrolls were expected to increase by 706,000 in June while the unemployment rate was forecast to fall to 5.6%.

Justice Department Is Probing Lordstown Motors - WSJ: The inquiry into the electric-truck startup is being handled by the U.S. attorney’s office in Manhattan and is in the early stages, according to people familiar with the matter.

Mortgage servicers brace for fallout as Covid bailout comes to an end: The nation's mortgage servicers are gearing up for the biggest wave of delinquent loans since the subprime mortgage crisis, but they say they are ready.

Labor force participation holds steady, a sign that slack persists - The New York Times: “That was the weakest part of the report,” Priya Misra, global head of rates strategy at TD Securities. “The fact that participation is not picking up is concerning.”

Debt or Equity? SDNY Bankruptcy Court Says “Equity” in a Recent Case Involving Recharacterization of a Party’s Debt Claim as Equity - Weil Restructuring: Live Primary provides a classic example of how courts will look beyond the mere labels that parties affix to a transaction and a reminder to lenders that the failure to properly document and appropriately treat a loan as actual debt may leave them holding nothing more than an equity claim behind the debtor’s other creditors.

Pandemic Wave of Automation May Be Bad News for Workers - The New York Times: The need for social distancing led restaurants and grocery stores to seek technological help. That may improve productivity, but could also cost jobs.

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 4, 2021:

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