Bankruptcy & Restructuring News Headlines for Thursday Jun 23, 2022

Here's what we are reading this morning:

After much mulling, Office Depot owner rejects both sale and split | Retail Dive: The office supplies specialist won’t be breaking itself up nor merging with rival Staples. Many twists and turns later, it has decided to stay whole.

Retail M&A robust at 2022's midpoint: But consumer product deal activity is off year over year.

Revlon Stock Surges After Bankruptcy Filing, Aided by Individual Investors - WSJ: Cosmetics maker’s shares up more than 30% in Wednesday’s trading as options activity takes off

Croissant Supplier Preps Bankruptcy Sale Citing Increased Labor Costs: Gold Standard Baking is proposing to sell itself out of bankruptcy to investors and insiders for $20 million in debt forgiveness.

Bankrupt Zohar Loan Funds to Be Handed Over to Investors: The Zohar investment funds founded by Lynn Tilton won court approval to turn themselves over to MBIA and other creditors under a bankruptcy liquidation plan, though the decadelong legal fight between them and the turnaround manager will drag on.

Sri Lanka Sued by Bondholder in US After Historic Default: Hamilton Reserve Bank Ltd., which holds more than $250 million of Sri Lanka’s 5.875% International Sovereign Bonds due July 25, filed the suit Tuesday in a New York federal court seeking full payment of principal and interest.

Mexico's Credito Real will fight involuntary Chapter 11 petition | Nasdaq: Mexico's troubled payroll lender Credito Real said in filing to the Mexican stock exchange late Wednesday that it was aware of claims of a filing of an involuntary Chapter 11 bankruptcy petition, which it would fight once the petition was served.

Credito Real Bondholder Group Seeks Lender Bankruptcy in US : A group of Credito Real SAB bondholders is seeking to force Mexico’s largest payroll lender into bankruptcy in the US in an effort to speed up the company’s reorganization process.

Older Post Newer Post