Bankruptcy & Restructuring News Headlines for Thursday Aug 10, 2023

Here's what we are reading this morning:

Wheels Up Seeks New Financing as Private-Jet Firm's Cash Dwindles - Bloomberg: Earnings report delayed after financing, asset sale announced; Delta to provide company unspecified amount via secured note

Starwood Considers Selling Debt at American Dream: If Barry Sternlicht’s company chooses to sell the loan, it could give the firm roughly $230 million to invest in other assets or projects.

WeWork Risk Seen in Commercial Mortgage Bonds, Barclays Says: Uncertainty surrounding the future of WeWork Inc., the office-space company reeling from a management shuffle and real estate problems, will pressure the commercial mortgage-backed securities market, with New York being particularly exposed, strategists for Barclays Plc write.

Yellow Gets Competing Bankruptcy Loan Offers From MFN, Estes : Yellow Corp. put off asking a federal judge to let it borrow $60 million from lenders led by investing giant Apollo Global Management because it received last-minute alternative offers from MFN Partners and Estes Express Lines.

Diversified Financial Services Firm Hilco Global Hires David Kurtz as Vice Chairman - Chief Strategic Officer: Mr. Kurtz is a well-known and highly regarded deal maker for the past 40 years and was most recently at the financial advisory firm Lazard where he had been a Vice Chairman of U.S. Investment Banking and Head of Global Restructuring since 2012, as well as a member of the global executive committee.

Biotech firm Amyris files for bankruptcy in US: Biotech firm Amyris Inc on Wednesday said it has filed for Chapter 11 bankruptcy in a U.S. court and is planning to sell its consumer brands to improve the company's liquidity position.

Older Post Newer Post