American Dream Mall Owners Seek Payment Extension on $1.7 Billion Loan - Bloomberg: The owner of the American Dream super-mall in New Jersey is seeking a four-year extension to repay $1.7 billion in construction financing after project holdups and pandemic lockdowns kept shoppers away, according to people with knowledge of the talks.
U.S. Households Took On $1 Trillion in New Debt in 2021 - WSJ: The increase, the largest since 2007, was largely the result of a big jump in mortgages and auto loans.
Credito Real Hires Restructuring Advisers as Payment Comes Due: Investors holding Credito Real SAB’s deeply distressed bonds suffered a blow as the Mexican payrolls lender said it hasn’t been able to refinance a note maturing Wednesday. The company hired DLA Piper and FTI Consulting to help evaluate restructuring options.
Rivian Loses Its Shine as Investors Fret About Production Delays - The New York Times: The electric vehicle maker’s stock surged after a public offering last fall but has since plunged, in part because the company failed to meet its 2021 goals.
Blackstone’s Service King Kicks Off Debt Restructuring Talks - WSJ: Lenders to the collision-repair company have signed nondisclosure agreements ahead of a likely debt restructuring, which could include a potential bankruptcy filing
Blackstone’s Service King Kicks Off Debt Restructuring Talks - WSJ: Lenders to the collision-repair company have signed nondisclosure agreements ahead of a likely debt restructuring, which could include a potential bankruptcy filing
Barry Diller’s Media Group Ends Print Versions of InStyle, Entertainment Weekly, Others - WSJ: IAC/InterActiveCorp is turning six of the titles it bought as part of its Meredith acquisition last year, including InStyle and Entertainment Weekly, into digital-only brands and cutting some 200 jobs.
Canadian Debtors Association urges changes to Bankruptcy and Insolvency Act: The Canadian Debtors Association is calling on all parties in the credit, debt and insolvency industry to work together and modernize Canada's Bankruptcy and Insolvency Act (BIA) to help Canadians in financial difficulty.
Bankruptcy Watchdog Objects to Boy Scouts Restructuring Plan Over Legal Shield: A federal bankruptcy watchdog objected to the proposed reorganization plan of the Boy Scouts of America, which offers legal immunity to certain parties to help settle more than 80,000 sexual abuse cases.
