Acadia Realty Trust takes a hit on Michigan Avenue property | Crain's Chicago Business: Acadia Realty Trust took a big loss on a property across from Water Tower as it works on a big deal nearby.
Leading Expert in Distressed Transactions Joins Paul, Weiss as Head of Special Situations: Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Sung Pak is joining the firm as a partner in the Finance Group and head of the Special Situations Practice, resident in the New York office.
Carvana’s Rose-Tinted Windshield Is Dangerous - WSJ: Seth Basham, equity analyst at Wedbush Securities, forecasts that Carvana won’t be able to maintain enough cash to meet its floor plan financing requirements (which were recently amended under tighter terms) and finance its business through 2023 without additional committed liquidity sources.
Diocese of Rochester Survivors Reach Settlement to Resolve Diocese's Chapter 11 Case: The settlement provides that the Diocese and related entities will pay $55 million to a trust for the benefit of survivors and assign valuable insurance rights to that trust.
Brookfield Cleared to Keep Control of Altera After Bankruptcy: Altera Infrastructure on Friday won court approval of its bankruptcy plan, which allows Brookfield Asset Management to retain ownership of the company by swapping debt for equity.
The Block: Bankruptcy top of mind as miners confront market downturn: Bitcoin miners take center stage on the earnings calendar next week, but bankruptcy is what is weighing on the minds of investors and analysts alike.
Rochester Diocese Strikes $55 Million Deal With Abuse Victims: The bankrupt Catholic Diocese of Rochester in New York struck a deal to pay clergy child sex abuse victims $55 million and grant them rights to sue its insurers to collect more.
$17B of Office-Backed CMBS Due in 2023 | GlobeSt: On the heels of a report that nearly a third of new CMBS issuance was afflicted with negative leverage in the third quarter comes the sobering realization of a potential reckoning to come: more than $17B of mortgage bonds back by office buildings come due in 2023.
Sears out of bankruptcy, a handful of stores are left | Fox Business: Syracuse University professor of retail practice Ray Wimer doesn't expect the remaining 20+ Sears stores to survive. "They do not have an appealing value proposition to customers and the amount of competition in the retail marketplace offering similar goods means the end will come at some point," he told FOX Business.