Teneo Appoints David Sawyer Leader of U.S. Financial Advisory: Prior to joining Teneo, David was the Head of Special Situations at Golub Capital. He is also the former Co-Head of Turnaround and Restructuring at Ankura Consulting.
How a Trash-Talking Crypto Bro Caused a $40 Billion Crash - The New York Times: Do Kwon, a South Korean entrepreneur, hyped the Luna and TerraUSD cryptocurrencies. Their failures have devastated some traders, though not the investment firms that cashed out early.
Omens of Decline for Russia’s Once World-Leading Energy Industry - The New York Times: Sanctions have grounded Russia’s ambitious plans to build its liquefied natural gas capacity. Analysts say it’s a sign of problems ahead.
Japan’s Economy Shrank 1 Percent as Consumers Fled Covid - The New York Times: The world’s third-largest economy lost momentum in the first three months of the year after the Omicron variant suppressed demand at home.
Google's Russian subsidiary to file for bankruptcy after bank account seized | Reuters: Google's Russian subsidiary plans to file for bankruptcy after the authorities seized its bank account, making it impossible to carry on operations, a Google spokesperson said on Wednesday.
Lehman Brothers’ Collapse: The Bankruptcy That Took Over a Decade to Unwind: The bank whose collapse marked the beginning of the 2008 financial crisis is only mostly dead. These are the people attending to its last remains ahead of its final court cases.
Williamsburg Hotel Owners Moved Funds to Stay Afloat, Finance Director Says: A finance officer for the bankrupt Williamsburg hotel testified that its owner-developers moved money between different affiliated entities to keep the property afloat.
Drugmaker Endo Begins Debt-Restructuring Talks With Creditors Amid Opioid Litigation: The drugmaker has started negotiations with its lenders and senior bondholders about a possible restructuring of more than $8 billion in debt.
Gabe Plotkin on Why He's Closing $7.5 Billion Melvin Capital: A onetime industry star, Plotkin lost billions last year betting against retail traders' favorites, such as GameStop.
New Mexico archdiocese to pay $121.5 million to settle sex abuse claims | Reuters: In one of the largest cash settlements involving sex abuse and the Roman Catholic Church in the United States, the Archdiocese of Santa Fe, New Mexico, reached a tentative $121.5 million agreement to resolve clergy abuse claims.