Bankruptcy & Restructuring News Headlines for Thursday Sep 28, 2023

Here's what we are reading this morning:

A ‘Boring’ CEO Bucks Crypto’s Wild Playbook at Bankrupt Celsius: When Celsius Network co-founder Alex Mashinsky resigned, interim Chief Executive Officer Chris Ferraro implemented a strategy that ran counter to the very ethos of cryptocurrency: he made the bankrupt digital-asset lender as boring as possible.

Boy Scouts Trust to Alter Abuse Claims Auditing to Prevent Fraud: A Boy Scouts of America settlement trust for abuse survivors must make some modifications to its claims verification process after certain insurers called for more safeguards against fraud, a judge ruled.

Cox Operating Seeks Mediation to Close $89 Million Oil Field Sale: Oil producer Cox Operating LLC is seeking emergency mediation to close the sale of most of its Gulf of Mexico production assets to driller W&T Offshore Inc. for $88.5 million.

Las Vegas hospitality workers overwhelmingly permit union to call strike against hotels, casinos | AP News: Tens of thousands of hospitality workers in Las Vegas have voted to authorize a strike that could disrupt dozens of hotels and casinos.

Showfields has closed its original flagship store: This month, department store startup Showfields closed its flagship Manhattan store as part of a plan to restructure its fleet of shops.

Amazon Aggregator Thrasio Engages Restructuring Advisers - WSJ: Thrasio, a startup that raised at least $3.4 billion to buy up consumer brands sold on Amazon, is exploring restructuring options as it contends with a postpandemic slump in online spending.

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