Bankruptcy & Restructuring News Headlines for Thursday Apr 20, 2023

Here's what we are reading this morning:

Slater Slater Schulman Releases Statement on Decision of U.S. Court of Appeals for the Third Circuit to Deny Stay and Allow Boy Scouts Bankruptcy Plan to Be Effectuated: "After years of protracted bankruptcy proceedings and decades of suffering in silence, tens of thousands of survivors of childhood sexual assault will now receive some tangible measure of justice. "

The Boy Scouts of America (BSA) Announces Confirmation of Plan of Reorganization and Emergence from Chapter 11 Bankruptcy to Equitably Compensate Survivors While Ensuring Scouting Continues Across the Country: The court-approved Plan of Reorganization will establish a Victims Compensation Trust that is currently valued at $2.4 billion with the opportunity for additional contributions by numerous other parties, including the BSA's insurers that have not yet settled.

Bed Bath & Beyond Renews Bankruptcy Talks as Rescue Stalls: Bed Bath & Beyond Inc. is once again laying the groundwork for a bankruptcy filing as its last-ditch efforts to raise cash come up short.

Supreme Court Opinion: MOAC MALL HOLDINGS LLC v. TRANSFORM HOLDCO LLC: "In this case, we are called upon to decide whether §363(m)’s strictures are jurisdictional. If so, a party may invoke that provision at any time—without fear of waiver, forfeiture, or similar doctrines interposing. If not, courts can apply such doctrines when evaluating §363(m) issues, where appropriate. For the reasons explained below, we conclude that §363(m) is not a jurisdictional provision."

KKR’s Envision Weighs Handing Control to Creditors in a Bankruptcy: Envision Healthcare is exploring a chapter 11 bankruptcy that would give control of the struggling physician-staffing company to its creditors.

Bed Bath & Beyond Preparing for Bankruptcy Filing Within Days: Bed Bath & Beyond is preparing a bankruptcy filing for as early as this weekend as its falling stock price makes it near impossible to raise enough capital to avert default, according to people familiar with knowledge of the matter.

United Insurance Shares Slide After ‘Going-Concern’ Warning: Shares of United Insurance Holdings Corp. lost nearly half of their value Tuesday after the insurer warned of doubt about its ability to continue as a going concern.

Throwback to the Houghton Mifflin Harcourt bankruptcy: The US Trustee in the Southern District of New York has moved to transfer the venue of another prepackaged Chapter 11 bankruptcy case

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