Bankruptcy & Restructuring News Headlines for Tuesday Jul 5, 2022

Here's what we are reading this morning:

Corporate statement | Vauld Blog: Thoughts on Crypto Investing, Lending, Borrowing & More: "We have made the difficult decision to suspend all withdrawals, trading and deposits on the Vauld platform with immediate effect. We believe that this will help to facilitate our exploration of the suitability of potential restructuring options, together with our financial and legal advisors."

Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy | Reuters: Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets, according to a court filing on Friday.

SAS initiates court-supervised process in the United States by a Chapter 11 filing to implement key elements of SAS FORWARD Plan: The Company is in "well advanced discussions with a number of potential lenders" with respect to obtaining additional debtor-in-possession financing for up to USD 700 million (the equivalent of approximately SEK 7.0 billion), to support its operations throughout this court-supervised process.

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