Bankruptcy & Restructuring News Headlines for Monday Jun 21, 2021

Here's what we are reading this morning:

Westfield Broward owner turning mall over to lender: Westfield Broward Mall has not made a payment on its $95 million loan covering 320,000 square feet of space since April of 2020, according to a research firm, and the mall’s owners confirm they are turning over the property to lenders.

Archdiocese fulfills remaining $3 million obligation in clergy abuse bankruptcy settlement - : The Archdiocese of St. Paul and Minneapolis announced June 17 it has fulfilled its remaining $3 million obligation to clergy abuse survivors ahead of schedule in its $210 million bankruptcy settlement.

Judge orders Michigan AG not to disclose Detroit bankruptcy mediation documents - A federal bankruptcy judge is putting a lid on the dissemination of documents related to the city of Detroit’s bankruptcy mediation by Flint water crisis prosecutors.

CarVal Raises $3.6 Billion Credit Fund to Play Covid Recovery: CarVal Investors raised $3.6 billion for a new global fund focused on credit and distressed debt, closing the vehicle to new money after exceeding an initial goal of $3 billion.

Seadrill New Finance Limited (the "Issuer") - Update on Restructuring Discussions and SeaMex Ltd Joint Venture: The Issuer and certain holders of the Notes are in advanced discussions around a comprehensive restructuring of the Notes. The expectation is that a restructuring support agreement documenting key commercial terms will be entered into in the near term, following which Seadrill and the Issuer will publish a further announcement.

Hong Kong Airlines goes to ‘critical survival mode’, flying only eight jets - Air Cargo News: Hong Kong Airlines (HKA) will stand down its fleet of Airbus A320s until mid-2022 and operate a skeletal fleet of just eight A330s on cargo flights, as the embattled carrier enters what it calls “a critical survival mode”.

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 Jun 20, 2021:

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