Bankruptcy & Restructuring News Headlines for Tuesday Aug 13, 2024

Here's what we are reading this morning:

Equinox-Owned Blink Fitness Chain Files for Chapter 11 Bankruptcy - WSJ: Workout club for budget-conscious gymgoers plans to sell itself during reorganization

Blink Fitness Takes Action to Position Business for Future : To facilitate the sale process, Blink has voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware

Three Arrows Liquidators Seek $1.3 Billion From TerraForm Over 2022 Luna Crash - Bloomberg: TerraForm induced Three Arrows to purchase Luna and TerraUSD by manipulating the market for these tokens “in a manner that artificially inflated the price for the assets” before they were wiped-out, the liquidators said in court papers.

Avon Products, Inc. Takes Steps to Address Debt and Legacy Liabilities in U.S. Court Process: Avon's operating businesses outside the U.S., which continue to advance on strategic initiatives, are not part of the Chapter 11 proceedings, and it is business as usual in Avon's international markets





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