Bankruptcy & Restructuring News Headlines for Thursday Dec 30, 2021

Here's what we are reading this morning:

Purdue’s Owners Protected From Opioid Suits Until February: Purdue Pharma LP won a bankruptcy court order protecting its owners from opioid-related litigation through the month of January as the drug maker pursues additional negotiations over its multibillion-dollar reorganization.

Some Evergrande Bondholders Yet To Receive Coupons Due Tuesday: Some holders of two China Evergrande Group dollar bonds with coupons due Tuesday said they had yet to receive payment, after the stressed developer failed to meet interest obligations on other offshore debt earlier this month.

N.Y. Beach Town Approves Tentative Deal to Stave Off Bankruptcy - Bloomberg: The Long Beach, New York city council approved a tentative settlement on Tuesday evening with a real estate developer who was awarded a judgment this year now estimated to be worth nearly $150 million, that threatened the city with insolvency.

Virgin Islands considers $1B refunding to fill massive pension shortfall | Bond Buyer: This would be fourth attempt to refund the islands' debts. Moody's Investors Service projects the island's pension fund will run out of cash by the start of fiscal 2024.

SoftBank's View Halts Factory Upgrade to Slow Cash Burn: The glassmaker halted the installation of new machinery that was key to ramping up supply. Insiders said the manufacturing process was too expensive.

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