Bankruptcy & Restructuring News Headlines for Tuesday Nov 23, 2021

Here's what we are reading this morning:

Authentic Brands shelves IPO, to sell stake that values company at $12.7 billion: Authentic Brands Chief Executive Jamie Salter said the company will target an IPO date in 2023 or 2024.

Ford and Rivian no longer plan to work jointly on electric vehicles. - The New York Times: Ford remains an investor, but its own E.V. development plans have progressed since the partnership was announced.

Victims and investors are sitting on a trove of Mt Gox claims. Now they’re set to make bank.: Fortress Investment Group and 507 Capital stand to make huge profits when Mt. Gox creditors at last receive pay-outs.

Modification in Assignment of Mega Chapter 11 Cases - United States Bankruptcy Court for the Southern District of New York: Effective December 1, 2021, mega chapter 11 cases will be assigned on a random basis to the bankruptcy judges of this district irrespective of the courthouse in which the case is filed.

This DC neighborhood used to be synonymous with high-end shopping. Now it's mostly abandoned. | Retail Dive: Retail has collapsed in Friendship Heights. The neighborhood, which sits on the Washington, D.C., and Maryland border, was once known as a high-end shopping destination.

Alden Global Capital Bids for Lee Enterprises - The New York Times: The hedge fund, which owns about 200 papers and bought Tribune Publishing earlier this year, bid $141 million for Lee, which publishes 90 dailies.

Bitcoin heads for worst week in months as Mt Gox payouts loom | Reuters: Bitcoin fell to a one-month low on Friday and was headed for its worst week in six months as traders have booked profits from a long rally and been spooked by an expectation that creditors of collapsed crypto exchange Mt Gox might liquidate their payments.

Kaisa Offshore Bondholders Hire Advisers as Company Struggles: A set of Kaisa Group Holdings offshore bondholders has hired advisers as the cash-strapped Chinese property developer faces mounting refinancing risks, according to people with knowledge of the situation.

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