Bankruptcy & Restructuring News Headlines for Monday Sep 25, 2023

Here's what we are reading this morning:

Evergrande Scraps $35 Billion Restructuring Plan as China’s Housing Crisis Intensifies - WSJ: If China Evergrande can’t strike a new deal with creditors, the property giant will risk a liquidation.

Before Sam Bankman-Fried Crypto Trial, FTX Asset Recovery Efforts Quicken - Bloomberg: FTX Chief Executive and Restructuring Officer John J. Ray, whose team is overseeing a mammoth asset recovery task after the crypto exchange’s collapse, is accelerating efforts to recoup billion of dollars just weeks before FTX founder Sam Bankman-Fried heads to trial for what has been called one of the biggest financial frauds in American history.

Mortgage Startup Better Cut Jobs After Its Disastrous Stock Debut: Better execs spoke of a brighter future at an all-hands meeting where they popped bubbly. Two weeks later, the Softbank-backed startup cut staff.

Rite Aid Plans to Shut Down Hundreds of Stores in Bankruptcy - WSJ: Rite Aid is negotiating with creditors over the terms of a bankruptcy plan that would include liquidating a substantial portion of its more than 2,100 drugstores, according to people familiar with the talks.

Controversial real estate company files for bankruptcy following series of Channel 2 investigations – WSB-TV Channel 2 - Atlanta: Just days after we reported that members of the U.S. Senate were pressing a real estate company for answers about its 40-year listing agreements, Channel 2 Action News has learned that the company has now filed for bankruptcy.

Cryptocurrency Litigation and Regulation Tracker : Last Updated: September 18, 2023; Presented by Morrison Cohen LLP

Watching the Real-Estate Bust From the Streets of San Francisco - WSJ: The city’s new landmarks are struggling office buildings and a shopping mall losing tenants.

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