Bankruptcy & Restructuring News Headlines for Tuesday May 18, 2021

Here's what we are reading this morning:

The $900 Million Mistake: In re Citibank August 11, 2020 Wire Transfers (S.D.N.Y. Feb. 16, 2021) by Elisabeth de Fontenay :: SSRN: Citibank highlights the widening gap in leveraged finance between the wishes and expectations of market participants and the actual outcomes they achieve under either (1) common-law default rules or (2) heavily negotiated contracts

Payday, Predatory Lenders Racked Up Record Profits in 2020: Money meant to help Americans pay for essentials during the pandemic ended up juicing the profits of one of the most controversial corners of the financial sector.

Selection of Wendy A. Kinsella to Serve as Bankruptcy Judge in NDNY: Ms. Kinsella is a partner and the leader of the Financial Restructuring, Bankruptcy, and Creditors’ Rights practice group at Harris Beach PLLC

Stream TV Chapter 11 Case Dismissed As Bad-Faith Filing - Law360: A Delaware bankruptcy judge on Monday dismissed television technology company Stream TV's Chapter 11 case, saying it was a bad-faith attempt to interfere with a court judgment handing the company's assets over to its creditors.

Stream TV Barred From Using Bankruptcy to Reclaim Tech Assets: A bankruptcy judge threw out Stream TV Networks Inc.’s chapter 11 case, saying it was a bad-faith attempt to reclaim technology assets the venture turned over to secured lenders.

Destiny USA, Syracuse’s mammoth mall, faces a crisis of debt and uncertainty (Part 1) - The company has hired Orrick Herrington & Sutcliffe and Houlihan Lokey according to the Wall Street Journal

1,600 Layoffs Coming at Northern Illinois Jeep Cherokee Factory – NBC Chicago: Some 1,600 jobs are being cut at a Jeep Cherokee factory in northern Illinois as automakers continue being plagued by the global shortage of semiconductors.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Bankruptcy or Receivership (Item 1.03) for the Week Ended Monday May 17, 2021:

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