Bankruptcy & Restructuring News Headlines for Thursday Aug 18, 2022

Here's what we are reading this morning:

Canadian pension fund writes off investment in Celsius: Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) revealed on Wednesday that it has written off its investment in Celsius.

American Dream Mall Misses Debt Payments Even as Shoppers Return - WSJ: Triple Five Group, the owner of the retail-and-entertainment complex, failed to pay $125,000 to East Rutherford, N.J., where the giant mall is based, according to the town’s mayor.

AMC’s CEO Will Do Whatever It Takes to Keep His Company a Meme Forever - Bloomberg: Adam Aron’s antics have amped his movie chain’s stock and his army of fans—so far. It only gets harder from here.

Mexico’s Largest Shadow Bank Begins Restructuring as Funding Dries Up: Unifin, the largest nonbank lender in Mexico, had recently told investors it had access to credit. Weeks later, it said it would halt debt payments and restructure.

Severe US Housing Downturn Possible, but Not Yet Probable: Fitch Ratings says the likelihood of a severe downturn in US housing has increased; however, our rating case scenario provides for a more moderate pullback that includes a mid-single-digit decline in housing activity in 2023, and further pressure in 2024.

Bed, Bath & Beyond shares fall after investor Ryan Cohen reveals intent to sell stake: The meme stock craze has found new life in recent weeks, and Bed Bath & Beyond has been the primary beneficiary.

Crypto broker Genesis slashes 20% of workforce and announces CEO exit: Genesis CEO Michael Moro is leaving and the company is cutting jobs after losing money from loans to bankrupt hedge fund Three Arrows Capital.

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