Bankruptcy & Restructuring News Headlines for Thursday Aug 11, 2022

Here's what we are reading this morning:

Avaya Lenders Tap FTI Consulting, Glenn Agre to Explore Legal Options - Bloomberg: Lenders who helped provide a $350 million leveraged loan to Avaya Holdings Corp. in June are working with FTI Consulting Inc. and Glenn Agre Bergman & Fuentes to explore their options following the company’s poor earnings and internal investigations, according to people with knowledge of the situation.

Inflation drops to zero in July due to falling gas prices: Falling gasoline prices are giving American consumers some inflation relief.

Consumer prices rose 8.5% in July, less than expected as inflation pressures ease a bit: Prices that consumers pay for a variety of goods and services rose 8.5% in July from a year ago, a slowing pace from the previous month.

Ripple Labs 'interested' in bankrupt crypto lender Celsius' assets - spokesperson | Reuters: San Francisco-based blockchain payments company Ripple Labs Inc is interested in potentially purchasing assets of bankrupt crypto lender Celsius Network, according to a company spokesperson.

CPI Report Live Updates: U.S. Inflation Slowed to 8.5% in July - The New York Times: The Consumer Price Index rose 8.5 percent in July, a bigger slowdown than expected, but prices for food and rent continued to climb.

Driller W&T Opens Internal Probe After Whistle-Blower Letter (1): W&T Offshore Inc has hired Skadden, Arps, Slate, Meagher & Flom to conduct an internal investigation on management’s close relationship with information-technology vendor AAIT, according to people with knowledge of the situation.

Auto supplier Gissing enters Chapter 11, owes Tesla $13.3M | Plastics News: Bingham Farms, Mich.-based auto supplier Gissing North America LLC has filed for Chapter 11 bankruptcy protection with up to $100 million in liabilities, including $13.3 million owed to Tesla Inc.

Talen Energy Creditors Seek $500 Million Dividend Clawback: Some creditors of power generation company Talen Energy Supply LLC have asked a bankruptcy court for authority to claw back about $500 million in dividend payments it made to shareholders and affiliates of its private equity owner, Riverstone Holdings LLC.

Sears Estate to End Lampert-Related Suits in $175 Million Deal: The bankrupt estate of Sears Holdings Corp. and company creditors agreed to resolve their sprawling litigation against former owner Eddie Lampert and other shareholders over pre-bankruptcy asset transfers for $175 million.

Coinbase Under SEC Scrutiny Over Its Crypto-Staking Programs - Bloomberg: Coinbase Global Inc. said it’s being probed by the US Securities and Exchange Commission over its staking programs, which allow users to earn rewards for holding certain cryptocurrencies.

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