Bankruptcy & Restructuring News Headlines for Thursday Jul 27, 2023

Here's what we are reading this morning:

Binance withdraws application for crypto license in Germany | Reuters: Binance has withdrawn its application for a crypto license in Germany, suggesting the world's biggest cryptocurrency exchange is rethinking its immediate expansion plans amid a tough regulatory stance towards the industry.

FTX Founder Sam Bankman-Fried Hit With Interim Gag Order Ahead of Fraud Trial - Bloomberg: FTX founder Sam Bankman-Fried was hit with an interim gag order ahead of his fraud trial, after prosecutors argued he can’t be trusted not to taint the proceedings even under house arrest. US District Judge Lewis Kaplan is weighing whether to rescind Bankman-Fried’s $250 million bail deal.

Trucker Yellow Prepares to File for Bankruptcy as Customers Flee - WSJ: Trucking company Yellow is preparing to file for bankruptcy, according to people familiar with the matter, heightening the threat that one of the nation’s largest freight carriers will shut down as customers abandon it amid a cash crunch and union negotiations.

Hedge Funds Seek to Cut Off $1 Billion Meant for Opioid Victims - WSJ: Drugmaker Mallinckrodt is talking to hedge funds about filing for bankruptcy and avoiding payments intended to help people addicted to opioids.

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