Bankruptcy & Restructuring News Headlines for Monday Sep 26, 2022

Here's what we are reading this morning:

Distressed-Mall Investor Now Targeting Aging Manhattan Offices - Bloomberg: As prices drop, Namdar sees opportunity — and bargains — in buildings that have fallen out of favor with both tenants and buyers.

Classifying Creditors in Digital Asset Bankruptcy Cases | Winston & Strawn: The resolution of this thorny issue will significantly impact the extent to which customers can recover assets from digital asset firms in bankruptcy.

Celsius has a Hail Mary bankruptcy plan: Turn its debt into a new cryptocurrency: In the recording, Celsius co-founder Nuke Goldstein outlines a compensation plan for customers who deposited assets in Celsius’ “Earn” account. Goldstein said Celsius will release “wrapped tokens,” which will serve as an IOU for customers.

Cash advance firms flooding courts with claims of non-payment by small business | Crain's New York Business: Local MCAs are staying one step ahead of New York regulation

Voyager Announces CFO Departure: Mr. Prithipaul will depart from the Company after a transition period, and Chief Executive Officer Stephen Ehrlich will assume Mr. Prithipaul's duties in the interim.

Tax appeal may impact PILOTs for American Dream mall in New Jersey | Bond Buyer: The mall operator want a downward reassessment of the property's estimated value, a move that could reduce quarterly PILOT payments that back tax-exempt bonds.

B. Riley may purchase up to $100M stake in Bitcoin miner Iris Energy: Iris Energy inked an agreement with B. Riley Principal Capital II for the “potential offer and sale” of up to 25 million ordinary shares.

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