Bankruptcy & Restructuring News Headlines for Tuesday Oct 25, 2022

Here's what we are reading this morning:

PhaseBio Files for Bankruptcy With Plans to Sell Assets - WSJ: The Malvern, Pa., clinical-stage biopharmaceutical company said it plans to seek bankruptcy court approval for an auction and sale process for its lead bentracimab program, which would be purchased free and clear of liens and interests.

Builders Say They’re Ready for This Housing Slowdown. ‘I’ve Learned My Lesson.’ - WSJ: The housing market meltdown of 2007-09 fostered less risky tactics by today’s developers. One builder in Las Vegas uses less debt and fewer lenders than he once did.

CMS to 'Crack Down' on Troubled Nursing Homes Through Special Focus Facility Program Changes - Skilled Nursing News: In its latest move to increase scrutiny of the skilled nursing industry, the Biden administration is toughening requirements for nursing homes that fall

Finance of America Mortgage announces shutdown - HousingWire: Amid one of the most challenging mortgage markets since the great financial crisis, Finance of America Mortgage LLC will shut down by the end of the year following its decision to exit the wholesale channel and the collapse of a forward retail deal with Guaranteed Rate earlier this month

Troubled Retailers Hunker Down for Holiday Stress Test: Bed Bath & Beyond, At Home, Tuesday Morning and others have armed themselves with capital ahead of what promises to be a tougher-than-usual holiday season.

Behnam: "Just a matter of time" before crypto returns to conditions of spring crash: The Chair of the CFTC also noted that crypto exchanges fuse a number of duties that in traditional finance are split.

Celsius Stockholders Lose Bid for Official Bankruptcy Committee: US Bankruptcy Judge Martin Glenn dealt a blow to Celsius Network’s stockholders on Monday, ruling against their motion to form an official committee of equity holders as they seek to stake a claim to the crypto lender’s most valuable assets.

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