Bankruptcy & Restructuring News Headlines for Thursday May 18, 2023

Here's what we are reading this morning:

Torrid CFO, COO resigns after 8 months | Retail Dive: Tim Martin is exiting the dual role as the company continues to see changes in its C-suite. 

The Block: Voyager liquidation could start Friday: “We are working with Voyager to go effective under the plan as soon as possible (as early as this Friday),” the Voyager Official Committee of Unsecured Creditors said on Twitter. “We are still working towards making initial distributions available no later than June 1.”

Bankrupt Crypto Broker Voyager Digital Cleared to Start Repaying Customers - Bloomberg: Failed cryptocurrency brokerage Voyager Digital Holdings Inc. won court approval to begin winding down its operations and start repaying customers a portion of their crypto that’s been held on its platform since last year.

Theranos founder Holmes loses bid to stay out of prison, hit with huge restitution bill | Reuters: Theranos founder Elizabeth Holmes and former CEO Ramesh "Sunny" Balwani were on Tuesday ordered to pay $452 million to victims of the blood-testing startup's fraud, and an appeals court also denied Holmes' request to remain out of prison while challenging her conviction.

Aerospace Supplier Incora Prepares for Bankruptcy: Incora, a distributor of airplane parts owned by Platinum Equity, is preparing to file for bankruptcy within weeks, after missing interest payments and facing creditor lawsuits. 

The Block: FTX lawyers sue Bankman-Fried over fintech they now say is 'worthless': FTX's caretaker leadership is going after its embattled and indicted owner over an over $200 million acquisition he made weeks before putting his crypto empire into bankruptcy. Lawyers for the bankrupt crypto giant are suing Sam Bankman-Fried and others over a fintech company they now claim is 'essentially worthless.

Americans Are Falling Behind on Their Bills - WSJ: More Americans are having a harder time keeping up with their car, credit-card and mortgage payments compared with a year earlier.

Celsius bankruptcy auction nears end, with Fahrenheit in the lead | Reuters: A lawyer for Celsius Network on Wednesday said the crypto lender hopes to conclude an auction for its assets within days and the current lead bidder is Fahrenheit LLC, a consortium that includes blockchain-based venture capital firm Arrington Capital, at a U.S. bankruptcy court hearing in Manhattan.

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