Bankruptcy & Restructuring News Headlines for Thursday Apr 7, 2022

Here's what we are reading this morning:

$32 million sale primes Boulder Macy's for office transformation - Denver Business Journal: The 150,000-square-foot department store will become offices.

Russia Says It Paid Bondholders Rubles After Dollar Payment Blocked: Russia’s Finance Ministry said it paid rubles to foreign investors owed dollars after U.S. banks couldn’t process payments following changes to the Biden administration’s policies. JPMorgan Chase & Co., the correspondent bank for two bonds Russia needed to service Monday, declined to process $649.2 million in payments, according to a person familiar with the matter.

Water Tower Place owner gives up the property - Chicago Sun-Times: Lender MetLife will take over the iconic mall along the Magnificent Mile, which has been beset by vacancies during the pandemic.

Pre-Chapter 11 Priming and Drop-Down Transactions | Webinar: Tuesday, April 12, 2022 - 1:00pm-2:30pm EDT - course will discuss strategies that borrowers are increasingly using to create liquidity, delay maturities, and relieve covenant pressure to prevent bankruptcy while also allowing certain creditors to maintain control and preferred priority if bankruptcy ensues

Banksy Mural Valued at $2 Million by L.A. Building in Bankruptcy: The owner of a downtown Los Angeles commercial building featuring a painted mural by renowned street artist Banksy filed for Chapter 11 bankruptcy to avoid foreclosure and conduct a court-supervised sale of the property.

Federal Reserve Board - Minutes of the Federal Open Market Committee, March 15-16, 2022: The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 15–16,

Film Studio STX May Join Movie-Deal Units in Bankruptcy if Sale Falters: STX Entertainment has already placed its rights to two movies under chapter 11 protection as it tries to sell itself.

Envision Lenders Hire Legal Adviser as Group Prepares Counter Financing Offer: A group of Envision Healthcare’s lenders hired law firm Kasowitz Benson Torres while exploring a potential financing deal with the company, in a bid to counter alternative debt proposals that could weaken these creditors’ claims on assets.

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