Bankruptcy & Restructuring News Headlines for Tuesday Dec 14, 2021

Here's what we are reading this morning:

Forever 21 launches at J.C. Penney | Retail Dive: The two retailers have been through recent bankruptcies and share a parent company. 

USA Gymnastics, USOPC reach $380M settlement with victims | AP News: The legal wrangling between USA Gymnastics and the victims of sexual abuse by former national team doctor Larry Nassar, among others, is over. The fight for substantive change within the sport's national governing body is just beginning.

Meme stocks AMC, GameStop tumble to lowest levels in months as investors take off risk: Speculative trades including GameStop and AMC Entertainment were hit hard Monday, as investors dumped risky meme names after a head-turning year.

Nassar Victims Reach $380 Million Settlement With USA Gymnastics and U.S. Olympic and Paralympic Committee - WSJ: Nassar abuse victims reached a $380 million settlement with USA Gymnastics and the U.S. Olympic & Paralympic Committee after last-minute insurer contributions and a $34 million direct contribution from the USOPC.

Spyware Firm NSO Mulls Shutdown of Pegasus Unit, Sale of Company - Bloomberg: NSO Group Ltd., the scandal-plagued spyware company that’s in danger of defaulting on its debts, is exploring options that include shutting its controversial Pegasus unit and selling the entire company, according to people familiar with the matter.

Chubb Reaches Agreement-in-Principle with Boy Scouts of America: As reported by the Boy Scouts of America (BSA) and other parties today, an agreement-in-principle has been reached in the BSA bankruptcy. Under this agreement, assuming approval, Century Indemnity Company and other Chubb companies will pay $800 million and obtain a broad release for all Chubb companies from BSA-related abuse claims.

Puerto Rico board fight over pension laws continues | Bond Buyer: The issue is the power of the Oversight Board over several locally passed pension laws the board says might make the Plan of Adjustment unfeasible.

Lawmakers reform Cayman's restructuring regime - Cayman Compass: The changes introduce a formal restructuring procedure under the supervision of a restructuring officer outside the traditional winding-up process.

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