Bankruptcy & Restructuring News Headlines for Tuesday Mar 29, 2022

Here's what we are reading this morning:

Two Recent Chapter 15 Cases Clarify Just How Low the Bar Is for Recognition | Faegre Drinker Biddle & Reath LLP: Two recent bankruptcy cases have further established the perfunctory nature of a petition to recognize a foreign bankruptcy petition in the United States under Chapter 15 of the U.S. Bankruptcy Code

U.S. Bankruptcy System Faces Government Pushback Over New Corporate Tactics - WSJ: The bankruptcy system is facing a backlash from all three branches of the federal government as big companies and wealthy individuals push the limits of chapter 11 to relieve themselves of legal and financial liabilities.

Black News Channel Shuts Down Two Years After Debut - WSJ: The network was unable to pay its employees this week, in an increasingly challenging environment for cable-TV channels.

Apple iPhone SE production reportedly cut by 20%: Apple is reportedly scaling back production of its new budget iPhones in China, less than three weeks after launching the product

U.S. bonds: Treasury yields invert flashing recessionary warning sign: U.S. 5-year and 30-year Treasury yields have inverted for the first time since 2006, raising fears of a possible recession.

VK Company: Appointment of Advisors in Relation to USD 400mn of Convertible Bonds due in 2025: VK Company Limited announces that it is working with its financial advisors, Aspring Capital and Serdika Financial Services to develop proposals to be made to holders of its USD 400mn 1.625 per cent. Senior Unsecured Convertible Bonds, due 2025, in order to address the recent "De-listing Event" and consequences thereof, which have impacted holders of the Bonds and are outside the control of the Company

New United States Bankruptcy Court for the Middle District of Florida Judges Sworn In: The Honorable Jason A. Burgess and the Honorable Tiffany Geyer were recently sworn in as the United States Bankruptcy Court for the Middle District of Florida’s newest bankruptcy judges.

Shanghai Covid-19 Lockdown Poses Fresh Test to Supply Chains - WSJ: The Covid-19 lockdown marks another potential setback for China’s export machine, reigniting concerns over the risk of renewed disruption to global supply chains pummeled by the pandemic and war in Ukraine.

The Five Largest Multifamily Loans That Are 90+ Days Delinquent: See a list of the five largest multifamily loans that are now 90 days or more behind on payment.

Climate change roils colleges that train drillers and miners - E&E News: Schools with petroleum and mining engineering programs are taking desperate measures to bolster enrollment amid growing concerns about climate change.

Sidley Successfully Represents Self-Storage Operator GVS Texas Holdings in Chapter 11 Restructuring : The plan, approved by Judge Michelle V. Larson, provides for the sale of GVS’ assets to the stalking horse bidder CBRE WWG Storage Partners JV III, LLC; a joint venture of real estate company CBRE Investment Management and the self-storage provider William Warren Group, after an auction conducted by Houlihan Lokey that increased the stalking horse purchase price by US$130 million.

Debt Market Insight | Raymond James Capital Structure Advisory : An overview of recent debt market developments, activity, trends, and metrics.

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