Bankruptcy & Restructuring News Headlines for Monday Oct 16, 2023

Here's what we are reading this morning:

Spectrum Venture Ligado Nears Bankruptcy After Government Talks Collapse - WSJ: Wireless spectrum venture Ligado Networks is preparing to file for bankruptcy within weeks after negotiations with the U.S. government over a multibillion-dollar claim asserted by the company fell apart, according to people familiar with the company’s plans.

Justices to Hear Insurer Challenge to Asbestos Bankruptcy Case: The US Supreme Court will consider whether an insurer had standing to challenge an asbestos bankruptcy plan that lower courts determined did not affect the insurer.

IronNet, Cyber Firm Once Run by Ex-Spy Chief, Files Bankruptcy: IronNet Inc., the cybersecurity firm started former spy chief, retired General Keith B. Alexander, filed bankruptcy in Delaware to try to revive the company by finding a buyer.

Rite Aid Seeking Asset-Based Loan to Fund Itself in Bankruptcy: Rite Aid Corp. is in discussions with Bank of America Corp. for a loan to fund itself during a potential Chapter 11 bankruptcy process, according to people with knowledge of the situation.

Bankruptcy Judge Jones to Stop Handling Complex Cases After Relationship With Lawyer Revealed - WSJ: Houston bankruptcy judge David R. Jones is stepping down from handling large corporate reorganizations following revelations that he had a romantic relationship with a bankruptcy lawyer whose firm filed cases in his court.

Rite Aid Files for Bankruptcy, Undone by Years of Losses - WSJ: The drugstore chain faces thousands of lawsuits over opioid crisis and struggled for years with failed mergers.

Rite Aid, Facing Slumping Sales and Opioid Suits, Files for Bankruptcy - The New York Times: The pharmacy chain, one of the country’s largest, faces more than a thousand lawsuits that say it filled illegal prescriptions for painkillers.

Drug retailer Rite Aid files for bankruptcy protection: Rite Aid Corp filed for Chapter 11 bankruptcy on Sunday, as it comes under pressure from lawsuits alleging that the drugstore chain helped fuel the opioid crisis in the United States

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