Repeat Chapter 11 Filers Dominate 2023 Bankruptcy Landscape: Struggling companies seeking bankruptcy turned 2023 into one of the biggest years for repeat Chapter 11 filers, suggesting many didn’t make the necessary cuts or business changes to successfully revive themselves the first time around.
Bankman-Fried Hires Trevor Milton Lawyer Ahead of Sentencing: FTX founder Sam Bankman-Fried, who faces decades in prison after being convicted of masterminding a multibillion dollar fraud, has brought in a new lawyer who helped secure a lenient sentence for another high-profile white collar defendant.
Moody's revises Grand Canyon University's rating outlook to negative | Bond Buyer: The negative outlook on the Phoenix-based university's Ba1 rating is due in part to its battle with federal regulators, including the U.S. Department of Education, which it sued in 2021.
EchoStar Stock Jumps After Hiring Advisors to Evaluate Options - WSJ: Shares of EchoStar, which recently merged with Dish Network, jumped after the telecommunications company said it has hired advisors to help evaluate potential strategic alternatives.
Dish Bonds Plummet on EchoStar Spectrum Transfer Maneuver: Dish Network Corp. bonds plummeted Wednesday after the company announced a move to shuffle assets including valuable spectrum licenses into new subsidiaries, worrying holders of its more than $20 billion of debt.
US Supreme Court justices balk at $326 mln bankruptcy fee refund demand | Reuters: The U.S. Supreme Court on Tuesday heard arguments in a case over an inconsistently applied increase in bankruptcy fees, with at least three justices appearing hesitant to force U.S. taxpayers to foot a $326 million refund to debtors who paid higher rates.
Puerto Rico Oversight Board says PREPA decision too generous | Bond Buyer: The board says the bondholders have no "unsecured claim" and only a lien on a small amount of money held by the authority when it was placed into bankruptcy.
Sources: MLB rejects Amazon’s $150M proposal for Diamond Sports: MLB rejected a proposed $150m lifeline extended by Amazon to bankrupted Diamond Sports.
SEC Approves Bitcoin ETFs for Everyday Investors - WSJ: The exchange-traded funds will allow investors to buy bitcoin as easily as stocks or mutual funds.
