Bankruptcy & Restructuring News Headlines for Monday Jun 7, 2021

Here's what we are reading this morning:

Job creation accelerated in May but is still below lofty expectations: Nonfarm payrolls increased 559,000 in May, below the 671,000 estimate.

The U.S. added 559,000 jobs in May, adding to hope about the pandemic recovery - The New York Times: The labor force participation rate edged down slightly to 61.6 percent, evidence that many workers who dropped out of the work force during the pandemic have still not returned

AMC Boss Adam Aron Basks in Meme-Stock Spotlight - WSJ: More than any executive swept up in the meme-stock trade, the movie-theater chain CEO has come to represent the surrealism and opportunities of modern-day trading.

Mudrick Capital no longer owns debt or equity in AMC, sources say: Investment firm Mudrick Capital has exited both its debt and equity positions in AMC Entertainment, sources tell CNBC's David Faber.

Great Atlantic & Pacific Tea Co. – Giving Structure to a Structured Dismissal | Morgan Lewis - JDSupra: The Court concluded that the relief requested by Great Atlantic was “entirely consistent with the Bankruptcy Code” and overruled the US Trustee’s objections. Although the facts and circumstances of Great Atlantic are unique, the US Trustee’s broad objection to the use of a structured dismissal generally can be seen as a warning to similarly situated debtors that the structured dismissals will draw scrutiny.

Hot Vax Summer Is Looking Lukewarm - The New York Times: The latest jobs report suggests that getting the economy back up to speed is not going to be effortless.

Bank of America, Wall Street Rein in Hedge Funds' Short Bets on GameStop, AMC - Bloomberg: Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc. and Jefferies Financial Group Inc. are among firms that have adjusted their risk controls at prime-brokerage operations, according to people familiar with the moves. The banks are trying to protect themselves against fallout from extreme surges and dips that have characterized trading in companies including AMC Entertainment Holdings Inc., MicroVision Inc. and GameStop Corp.

NRA Drops Countersuit, Will Fight New York AG in State Court – NBC New York: The NRA's law firm said in a statement that dropping the lawsuit was a “significant and important” procedural step that will ensure the organization's claims against James are heard in the same state court in Manhattan that will hear her lawsuit.

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 6, 2021:

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