Bankruptcy & Restructuring News Headlines for Thursday May 26, 2022

Here's what we are reading this morning:

Statute of Limitations, Res Judicata, and Collateral Estoppel—Oh My! Asserting Affirmative Defenses in Delaware Bankruptcy Court - Weil Restructuring: In re AMC Investors, LLC, 637 B.R. 43 (Bankr. D. Del. 2022), highlights the importance of timing in bringing breach of fiduciary duty claims and the use of affirmative defenses to defeat those claims.

Terra backers vote to revive luna cryptocurrency, abandon UST: Backers of Terra have voted to revive the failed cryptocurrency venture without its controversial UST stablecoin.

CBO releases U.S. GDP growth, inflation estimates: U.S. economic growth will exceed 3% in 2022, while roaring inflation has topped and will cool each month to around 2% by some point in 2024, according to a government forecast published Wednesday.

Fed minutes: May 2022 - Monetary policy may move into restrictive territory: Federal Reserve officials earlier this month stressed the need to raise interest rates quickly and possibly more than markets anticipate to tackle a burgeoning inflation problem, meeting minutes released Wednesday showed.

Fifth Circuit Weighs In on Bankruptcy Asset Sales Free and Clear of Leasehold Interests | Jones Day: In In re Royal Street Bistro, L.L.C., 26 F.4th 326 (5th Cir. 2022), the court denied certain tenants' motion for a writ of mandamus directing a district court to issue a stay pending appeal of a bankruptcy court order approving the sale of leased real property free and clear of the tenants' leasehold interests.

RFR Realty requests more time to pay off Midtown office loan | Crain's New York Business: The mortgage behind 285 Madison Ave. recently went into special servicing

Russia Bondholders Say Debt Default Could Already Be Here: Russia could already be in default on some of its foreign currency debts, according to bondholders that claim they are still owed a small interest payment that Moscow didn’t send to them earlier this spring.

Embattled Payments Startup Bolt Is Cutting One-Third of Staff - Bloomberg: In a message to staff on Wednesday, Bolt Chief Executive Officer Maju Kuruvilla wrote that the company was making cuts as part of a broader restructuring.

Rising Rates Are Battering Mortgage Lenders - WSJ: Mortgage lenders are scrambling to survive a sharp drop-off in the number of homeowners refinancing their loans, with demand drying up as interest rates rise.

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