Bankruptcy & Restructuring News Headlines for Thursday Jul 21, 2022

Here's what we are reading this morning:

Who Owns Crypto In Ch. 11? A Trillion-Dollar Question - Law360: As crypto winter hits the once-booming digital asset industry, the trillion-dollar question that will be fiercely litigated in the first wave of Chapter 11 cases will deal with who owns cryptocurrency held by bankrupt trading and investment platforms, experts say.

Bath & Body Works girds for sales, profit decline in 2022 | Retail Dive: Traffic is falling at the retailer, and lower income consumers are tightening spending as they wrestle with inflation. 

China Evergrande Prepares to Shed Light on Restructuring as Creditors’ Patience Wears Thin - WSJ: The embattled property giant has yet to reach an agreement with bondholders, but still plans to release an update on restructuring talks in July.

Crypto Bill Unlikely to Get US Senate Vote This Year, GOP's Cynthia Lummis Says - Bloomberg: A sweeping piece of legislation that would overhaul how the cryptocurrency industry is regulated by Washington is unlikely to be voted on this year by the US Senate, according to one of the lawmakers driving the effort.

Discount Retailer Tuesday Morning (TUEM) Weighs Bankruptcy as Inflation Mounts - Bloomberg: Discount home-goods retailer Tuesday Morning Corp. is exploring restructuring options including what would potentially be its second bankruptcy filing in less than two years, according to people with knowledge of the matter.

Jeweler accused of scamming servicemembers settles suit by 18 states | AP News: A national jewelry retailer has agreed to reimburse thousands of customers and cease operating under terms of a settlement filed Wednesday in a lawsuit by 18 states and the Federal Trade Commission.

A shot across the fintech bow – The FDIC’s reported investigation of Voyager Digital | Davis Polk: The FDIC’s reported investigation into Voyager Digital’s statements about FDIC insurance coverage means that fintechs with bank partnerships should carefully review any of their statements about such coverage.

Peter Thiel-Backed Crypto Lender Vauld Files for Protection Against Creditors - WSJ: A cryptocurrency lender backed by Peter Thiel’s Valar Ventures and Coinbase Global Inc filed for protection against creditors in Singapore after pausing withdrawals.

Crypto Exchange Zipmex Halts Withdrawals, Citing ‘Partners’ - Bloomberg: Zipmex, a cryptocurrency exchange operating in markets like Singapore and Thailand, said it halted withdrawals as a series of defaults continues to haunt the digital-assets industry.

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