Bankruptcy & Restructuring News Headlines for Tuesday May 25, 2021

Here's what we are reading this morning:

PG&E to Sell San Francisco Headquarters for $800 Million - Bloomberg: PG&E, which plans to move to Oakland next year, needs approval from state regulators to sell the 1.7 million-square-foot (158,000-square-meter) complex, which includes 77 Beale Street and 245 Market Street, according to a statement Monday.

Tuesday Morning returning to Nasdaq after delisting | Retail Dive: The off-price retailer is back on a major market after its Chapter 11 and restructuring, and is projecting optimism about the future. 

AMC’s Largest Shareholder Wanda Group Pares Down Stake - WSJ: The Chinese company sold 30.4 million shares between May 13 through May 18 for roughly $426.9 million.

Calculated Risk: Seven High Frequency Indicators for the Economy: These indicators are mostly for travel and entertainment.   

Potter Anderson Names L. Katherine Good Head of Bankruptcy: Good joined the firm in 2019 and has been recognized by several publications, including Chambers USA, for her exemplary work handling domestic and cross-border bankruptcies.

Lordstown Motors Reports First Quarter 2021 Financial Results : "[W]e are still in a position to ramp the Endurance, but we do need additional capital to execute on our plans. We believe we have several opportunities to raise capital in various forms and have begun those discussions."

Adjust Your Focus When Due Process Requirements Are Blurry: Third Circuit Finds Kodak’s Notice of Publication Sufficient for Unknown Tort Claimant - Weil Restructuring: The recent Third Circuit unreported decision – Sweeney v. Alcon Laboratories, No. 20-2066 ES, 2021 WL 1546031 (3d Cir. Apr. 20, 2021) – addressed certain due process requirements for bankruptcy notices with respect to unknown claimants and unknown claims.

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 24, 2021:

Judson College will close and file for Chapter 11 bankruptcy – Baptist News Global: An urgent fundraising appeal late last year had appeared to save Judson College, but declining enrollment and wary creditors sealed the historic school’s fate. After 183 years of operation, the Baptist-affiliated college will file for bankruptcy protection and will not reopen for the fall semester.

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