Bankruptcy & Restructuring News Headlines for Thursday Oct 28, 2021

Here's what we are reading this morning:

Los Angeles Mega Mansion ‘The One’ Declared Bankrupt After $500 Million Listing - Bloomberg: Property developer seeks court protection to halt foreclosure; Lenders, developer battling over 105,000 square-foot home

Credit Suisse, Community Health Face Lawsuit in Quorum’s Bankruptcy: A litigation trustee and a bondholder representative say actions by Credit Suisse and Community Health System burdened Quorum Health with $1.2 billion in debt, leading to its bankruptcy.

Advisers to Evergrande, Bondholders Take Step Toward Debt Talks: Advisers representing China Evergrande Group and a group of its offshore bondholders have taken what’s often a first step toward negotiations as the embattled developer faces a cash crunch, according to people with knowledge of the matter.

Seadrill nets court approval to cut debt, exit bankruptcy | Reuters: Offshore driller Seadrill Ltd on Tuesday obtained court approval for its reorganization plan, clearing the way for it to emerge from bankruptcy.

Emerge to Grow | FTI Consulting: The bankruptcy process has many legal and practical limitations and may not position an emergent company to realize its full potential post-bankruptcy.

Judge Keeps November Hearing Date to Finalize Puerto Rico’s Restructuring Plan: Puerto Rico’s financial oversight board, which is steering the territory’s bankruptcy plan, sees small chance of compromise with the island’s lawmakers.

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