Bankruptcy & Restructuring News Headlines for Tuesday Jul 25, 2023

Here's what we are reading this morning:

Some Binance.US Crypto Trading Was a Mirage, the SEC Alleges - WSJ: Regulators and academics say some digital asset exchanges inflate trading volumes.

Foxconn Moves to Dismiss EV Maker Lordstown Motors’ Bankruptcy: Foxconn, one of the world’s largest electronics manufacturers, urged a court to dismiss electric vehicle maker Lordstown Motors Corp.'s bankruptcy, saying its former business partner is proceeding in bad faith without any hope of reorganizing.

High-Tech Greenhouse Farmer AppHarvest Files for Bankruptcy: AppHarvest Inc., a publicly traded high-tech greenhouse company known for its tomatoes, filed for Chapter 11 bankruptcy as the sector reels from a pullback in venture capital funding and higher interest rates.

Santa Barbara News-Press Files For Bankruptcy, Ends Publication – Deadline: The Santa Barbara News-Press, which bills itself as the longest running daily newspaper in Southern California, has ceased publication.

AMC Risks Runnng Out Of Cash If It Can’t Raise Capital, CEO Says – Deadline: CEO Adam Aron said a court ruling last week that makes it harder for AMC Entertainment to raise cash has serious implications for the circuit’s financial stability — a blowout “Barbenheimer” weekend at the box office and surging share price notwithstanding.

Williams Industrial Services Group Inc. Enters into Purchase Agreement for the Sale of Business for $60 million and Files for Chapter 11 Protection: Williams Industrial Services Group Inc. (NYSE American: WLMS) filed voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware and agreed to sell substantially all of the Company and its subsidiaries assets to EnergySolutions for $60 million.

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