Bankruptcy & Restructuring News Headlines for Tuesday Mar 8, 2022

Here's what we are reading this morning:

As Skokie prepares to levy tax to renovate ‘blighted’ Old Orchard, expect other shopping centers try something similar to survive - Chicago Tribune: Westfield Old Orchard shopping center sells gold watches at Rolex, diamond necklaces at Tiffany & Co. and fabulous purses at Coach. Luxury cars cruise through crowded parking lots, and shoppers stroll past more than 100 stores while wearing pricey parkas and furs. The site seems to be thriving. Yet “blighted” is the legal designation the village of Skokie is giving it, in order to qualify for a 1% sales tax hike at Old Orchard businesses to pay for improvements to the outdoor mall.

Avenatti Firm’s Bankruptcy Trustee Dodges Criminal Case Subpoenas: Federal prosecutors and defenders in Michael Avenatti’s now-concluded criminal proceedings had to ask for bankruptcy court permission before issuing subpoenas to the Chapter 7 trustee for the attorney’s former law firm, a bankruptcy judge ruled.

Fashion Nova CEO Is Buyer of $141 LA Million Mega-Mansion : Richard Saghian, owner of the fast-fashion business Fashion Nova, has emerged as the winning bidder of the Los Angeles mansion known as “The One.”

Puerto Rico board opposes teachers’ request for stay | Bond Buyer: The Puerto Rico Oversight Board filed an opposition Sunday to teachers’ motion for a stay on the enactment of the Plan of Adjustment on March 15.

Kroll puts nine aircraft ABS deals on watch as deals dry up: Deal pipeline goes AWOL as conflict scuppers pandemic recovery for sector

Russia offers fast-track bankruptcy to departing companies | Reuters: Foreign companies that want to leave Russia will receive fast-tracked bankruptcy protections or can hand their stakes over to local managers until they return to Russia, First Deputy Prime Minister Andrei Belousov said on Friday.

Gazprom Is Said to Make $1.3 Billion Debt Payment in Dollars: Some holders of a $1.3 billion Gazprom PJSC bond due Monday said they received payment in dollars, even after Russian President Vladimir Putin gave issuers the option of repaying foreign-currency debt in rubles

Older Post Newer Post