Bankruptcy & Restructuring News Headlines for Monday May 16, 2022

Here's what we are reading this morning:

Courts Begin to Wrestle with the Impact of City of Chicago, Illinois v. Fulton on a Debtor’s Ability to Recover Estate Property - Weil Restructuring: In City of Chicago v. Fulton, the Supreme Court held that “mere retention” of estate property is not an act to exercise control over such property in violation of section 362(a)(3) of the Bankruptcy Code. What constitutes such an act is important; it relates to a debtor’s ability to marshal assets for distribution to creditors.

Regulators anxious about stablecoins like tether after UST collapse: U.S. Treasury Secretary Janet Yellen has urged Congress to approve federal regulation of stablecoins.

Jordan Health Lenders Gear Up for Talks Amid Debt, Wage Pressures: Lenders to Jordan Health Services, a Dallas-based home healthcare provider, have hired restructuring advisers in anticipation of negotiations on the company’s debt as it struggles with rising labor costs, according to people familiar with the matter.

Coinbase Bonds Are Sinking. Blame the Crypto Crash and Creditors' Concerns. | Barron's: The company’s bonds maturing in October 2031 have sold off sharply in the past several weeks, going from 85 cents on the dollar in April to 61 cents on Thursday. They started the year at 97 cents on the dollar.

Sandy Hook Families Close to Resuming Lawsuits Against Infowars’ Alex Jones - WSJ: Lawyers for Infowars and Sandy Hook families are close to an agreement that would allow them to resume defamation litigation against conspiracist broadcaster Alex Jones.

Belk CEO Nir Patel leaving store chain; interim chief named: The iconic department store has changed little since emerging from bankruptcy a year ago, bringing into question the company’s long-term sustainability, retail experts told The Charlotte Observer in February.

Pareteum to Use Voluntary Chapter 11 Process to Facilitate Sale Process: After a marketing process to obtain a "stalking horse bidder" for a court-supervised sale process, Circles MVNE Pte. Ltd. has combined with Channel Ventures Group, LLC to execute a stalking horse asset purchase agreement for substantially all of the assets of the Company.

Older Post Newer Post