Bankruptcy & Restructuring News Headlines for Thursday Mar 31, 2022

Here's what we are reading this morning:

Supercuts Owner Regis Hires Bankers to Address Debt Maturity: Regis has tapped Jefferies Group in an effort to refinance its credit facility as it contends with continued losses.

Justice Department Probes Network Accused of Selling Counterfeit HIV Drugs - WSJ: The criminal investigation is scrutinizing unauthorized or fake versions of drugs made by at least a dozen drugmakers, according to people familiar with the matter.

NYC’s Financial District Struggles With Growing Glut of Office Space - Bloomberg: The office availability rate in New York reached 19% in the first quarter, the highest in data going back to 2000, according to a report Wednesday by Savills Research.

J&J Bankruptcy Judge Says Third Circuit Can Hear Dismissal Appeal: Tort claimants of Johnson & Johnson’s talc products can send their appeal to end a J&J liability spinoff’s bankruptcy directly to a federal appellate court, a judge ruled.

Office Overview: Could Clashing Narratives Lead to Distress in the Sector?: Given that the full knock-on effects of the pandemic-induced ‘work-from-home’ environment have yet to be realized, the fate of the office market remains unpredictable.

Ukraine’s Largest Poultry Firm MHP Gets More Time From Creditors to Pay Interest - Bloomberg: Creditors to Ukraine’s largest poultry producer MHP SE agreed to grant the company an extra nine months to make interest payments on $1.4 billion of bonds.

Dates Matter in Bankruptcy: As Two Recent Decisions Emphasize, Creditors Failing to Comply With Bankruptcy Deadlines Face Dire Consequences | Lowenstein Sandler LLP: In addition to the Bar Date, creditors, creditors’ committees (which trade creditors often serve on in commercial Chapter 11 cases), and others face numerous other, less-well-known – but equally critical – dates and deadlines throughout the life cycle of a bankruptcy proceeding

Sun Sets on Increased Subchapter V Debt Limit for Now | Womble Bond Dickinson : While the debt limit has reverted to its original, lower threshold, it is likely that the effort to permanently raise the debt limit will continue given bipartisan support for the increase

SEC Proposes Rules to Enhance Disclosure and Investor Protection Relating to Special Purpose Acquisition Companies, Shell Companies, and Projections: The proposed new rules and amendments would require, among other things, additional disclosures about SPAC sponsors, conflicts of interest, and sources of dilution. They also would require additional disclosures regarding business combination transactions between SPACs and private operating companies, including disclosures relating to the fairness of these transactions.

Evergrande Hires Advisers to Probe $2 Billion Cash Seizure - WSJ: A quartet of outside law firms and accountants will help probe how banks ended up taking control of more than $2 billion at a key China Evergrande Group subsidiary.

Real-Time Market Monitoring Finds Signs of Brewing U.S. Housing Bubble - Federal Reserve Bank of Dallas: Using a novel statistical toolkit for assessing the health of the U.S. housing market in real time, the authors argue that the underlying causes of the run-up differ from those during the last housing boom, which preceded the 2007–09 Global Financial Crisis. However, there is growing concern that U.S. house prices are again becoming unhinged from fundamentals.

MD Helicopters Files Chapter 11 Bankruptcy | Aviation International News: MD Helicopters receiving $60 million in debtor financing, will continue operating, while assets sold.

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