Bankruptcy & Restructuring News Headlines for Tuesday Nov 1, 2022

Here's what we are reading this morning:

Bitcoin Miner Argo's $27M Fundraise Falls Through; Shares Plunge: "Should Argo be unsuccessful in completing any further financing, Argo would become cash flow negative in the near term and would need to curtail or cease operations," it said in a statement to the London Stock Exchange.

Rising Interest Rates Threaten to Expose Office Buildings’ Inflated Values - WSJ: Building prices fall and defaults rise amid the Federal Reserve’s efforts to fight inflation.

Why a Defunct Miner Reinvented Itself as a Dollar General Landlord: Imerys Talc America, engulfed in mass tort claims, needed an ongoing business to qualify for bankruptcy relief. It looked at mini-golf, laundromats, carwashes and many other investments.

Spurned Creditors Sue to Unwind Controversial Incora Deal: Another creditor-on-creditor clash that pit distressed investing heavyweights against each other is headed to court.

German Department Store Galeria Reportedly on Verge of Filing for Chapter 11 Equivalent: Regulator Asks Lenders About Exposure to Owner René Benko

Insurance Brokerage Vesta Files for Bankruptcy Following Lawsuits Against Former CEO: Vesta Holdings filed for bankruptcy protection after the insurance brokerage business became embroiled in lawsuits alleging its founder and former chief executive misappropriated lender funds and made unauthorized asset transfers.

Small retailers again struggling to pay rent | Retail Dive: Rent delinquency among smaller retailers took a turn for the worse in October, with 43% saying they couldn’t cover their October rent in full this month, up 12% from last month, according to a report from small business referral network Alignable.

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