Bankruptcy & Restructuring News Headlines for Thursday Jun 15, 2023

Here's what we are reading this morning:

Westfield Gives Up San Francisco Mall, Signaling More Pain Ahead - The New York Times: Retailers have been fleeing the city’s downtown, and some analysts say there may be more to come. It’s an issue facing various downtowns around the United States.

Bankrupt Bed Bath & Beyond Gets Approval For $240M DIP - Law360: A New Jersey bankruptcy judge Wednesday gave final approval for retailer Bed Bath & Beyond to receive $240 million in debtor-in-possession financing, including $40 million of new money, from Sixth Street Specialty Lending Inc. and affiliates.

Sandy Hook Families Agree To Ch. 11 Plan Talks With Jones - Law360: Families of victims of the 2012 Sandy Hook school shooting have engaged in Chapter 11 plan negotiations with bankrupt right-wing conspiracy theorist Alex Jones and his radio business, telling a Texas judge Wednesday that if no deal is reached they will be free to resume their pursuit of defamation damages against the debtors.

Covid Test Maker Ellume Set to Liquidate After Failed Sale to Hough Consolidated - Bloomberg: An Australian company that clinched the first US clearance for its at-home Covid-19 test kit has collapsed into liquidation after a sale to a competitor fell through.

Banq alleges founder stole assets to start crypto custodian Fortress: Banq Inc. has filed for Chapter 11 bankruptcy protection in Nevada. Its bankruptcy plan alleges executive mismanagement surrounding a failed pivot to NFTs and unlawful transfer of corporate assets to a competitor.

U.S. Justice Department Agrees to Try FTX Founder Sam Bankman-Fried on Original Charges Only for Now: The U.S. Department of Justice intends to only try FTX founder and former CEO Sam Bankman-Fried on the eight charges it brought in December 2022 for now.

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