Here's what we are reading this morning:
Sarah Baker Promoted to Deputy General Counsel at Hilco Global: Ms. Baker has been with Hilco since 2018, having most recently served as Vice President and Assistant General Counsel.
China Evergrande, Strapped for Cash, Offloads Its Jets - WSJ: The heavily indebted property developer raised more than $50 million last month by selling two of its private jets, bringing in much needed cash to help avert a default on its U.S. dollar debt.
Peloton freezes hiring after it slashes its forecast and shares drop 35%: Peloton held an all-hands meeting on Friday and froze hiring across all departments, CNBC has learned.
Endo, Citing Opioids, Says Bankruptcy Is Among Contingency Plans: The company in its 10-Q filing says thousands of legal claims tied to opioids may cast doubt on its solvency.
GVS Texas Reaches Deal to Dodge Chapter 11 Trustee Appointment: GVS Texas Holdings I LLC, a bankrupt self-storage operator, defeated the government’s attempt to name an independent trustee to oversee its Chapter 11 case, after agreeing to keep its former CEO away from management.
Stoneway Capital Corporation - Negotiation of Potential Restructuring Transaction and Disclosure of Cleansing Material: In satisfaction of the Debtors' obligations under NDAs, the Company is making public the Cleansing Materials by attaching them hereto. The Cleansing Materials include the draft restructuring term sheet attached hereto as Exhibit A (https://www.stonewaycap.com/download/781/) and the business plan forecast through 2027 attached hereto as Exhibit B (https://www.stonewaycap.com/download/781/)