Bankruptcy & Restructuring News Headlines for Monday Oct 4, 2021

Here's what we are reading this morning:

Major Ozy Media Advertisers Suspend Ad Campaigns Amid Tumult - WSJ: Ford, Goldman Sachs and Target pause advertising after New York Times raised questions about the digital-media startup’s practices.

Executive Bonuses Paid Before Bankruptcy Should Be Curbed, GAO Says: The Government Accountability Office said companies near bankruptcy paid $165 million in retention bonuses in the 2020 fiscal year outside of judicial oversight

Glass Mountain Announces Entry Into Restructuring Support Agreement With Over Two-Thirds of Lenders to Effectuate Comprehensive Balance-Sheet Restructuring | Business Wire: Restructuring Support Agreement provides for the elimination of over $230 million in debt from the balance sheet, and new $45 million investment.

Ozy Media is shutting down after a week of scrutiny into its business - CNN: Ozy Media announced on Friday that it will cease operations. The decision comes five days after the The New York Times published a bombshell report about its business practices, which kicked off additional scrutiny from other media outlets.

EXCLUSIVE PwC offers U.S. employees full-time remote work | Reuters: Accounting and consulting firm PwC told Reuters on Thursday it will allow all its 40,000 U.S. client services employees to work virtually and live anywhere they want in perpetuity, making it one of the biggest employers to embrace permanent remote work.

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