Bankruptcy & Restructuring News Headlines for Tuesday Jan 31, 2023

Here's what we are reading this morning:

U.S. court rejects J&J bankruptcy strategy for tens of thousands of talc lawsuits | Reuters: Johnson & Johnson's strategy to use bankruptcy to resolve the multibillion-dollar litigation over claims its talc products cause cancer was rejected by a federal appeals court on Monday, but the healthcare conglomerate said it would challenge the ruling.

AMC’s Two Equity Securities Begin to Converge After Shareholder Proposal Released: AMC’s so-called Ape units are rising while its common shares are falling as the movie theater operator nears a consequential shareholder vote.

FTX Seeks to Remove Turkish Units From Bankruptcy Case: The U.S. estate of the bankrupt crypto exchange doesn’t reckon the Turkish authorities will cooperate after they seized local assets in November

Celsius Official Committee of Unsecured Creditors Event on Twitter: "[Tuesday] we will hold a Spaces event at 3pm ET. Post questions in the comments and we look forward to speaking to you tomorrow."

Twitter Said to Make First Interest Payment on Musk Buyout Debt: Twitter Inc. made its first interest payment on the $12.5 billion in debt that Elon Musk used to take the social media giant private last year.

FTX founder Bankman-Fried objects to tighter bail, says prosecutors 'sandbagged' him | Reuters: Lawyers for Sam Bankman-Fried on Saturday urged a U.S. judge not to ban the indicted FTX cryptocurrency executive from communicating with former colleagues as part of his bail, saying prosecutors "sandbagged" the process to put their client in the "worst possible light."

Falling Used-Car Demand Puts Pressure on Carvana and Other Dealers - The New York Times: Dealership are seeing sales and prices drop as consumers tighten their belts, putting financial pressure on companies, like Carvana, that grew fast in recent years.

The Block: FTX-linked Alameda Research sues Voyager Digital for over $445M : Alameda Research is suing Voyager Digital for $445.8 million, seeking to recover loan repayments it made after Voyager filed for bankruptcy protection in July.

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