Exclusive: Trucking firm prepares long-shot bid for Yellow, seeks US Treasury support | Reuters: One of the largest U.S. privately owned auto transport companies is quietly mounting a long-shot bid - with increasing interest from the Biden administration - to rescue trucking giant Yellow Corp from bankruptcy liquidation and bring back some 30,000 union jobs, according to multiple sources familiar with the discussions.
The Latest Tool to Refinance Short-Term Debt: Double-Dip Financing - WSJ: Some companies facing a cash crunch are turning to so-called double-dip loans to refinance short-term debts and improve liquidity amid rising interest rates.
Core Scientific Announces Agreement in Principle with Key Constituencies in its Chapter 11 Cases: Parties expect in the coming days to enter into a binding Restructuring Support Agreement consistent with the Restructuring Term Sheet and to finalize Debtors’ Third Amended Joint Chapter 11 Plan of Reorganization and related Disclosure Statement
How Digital Freight Darling Convoy Ran off the Road - WSJ: The Seattle-based freight broker went from a $3.8 billion valuation to a shutdown in just 18 months
Crypto exchange Bittrex's U.S. shutdown approved at bankruptcy court | The Block: The U.S. arm of Bittrex filed for Chapter 11 bankruptcy protection in May.
Sunlight Financial Acquired by Solar Industry Investors, Lender: Sunlight Financial says that it will be acquired by a consortium of investors in the solar energy industry, including an affiliate of Greenbacker Capital Management, Sunstone Credit, IGS Ventures, and its lender Cross River Bank, according to a press statement.
Lumen Secured Creditors Prepare for Confidential Debt Talks: Some holders of Lumen Technologies Inc.’s secured debt have signed non-disclosure agreements to look at a restructuring proposal negotiated by creditors to the company’s Level 3 Communications unit, according to people familiar with the matter.
Celsius Judge Asks SEC to Weigh In on Restart Plan, Quickly: The New York judge overseeing Celsius Network LLC’s bankruptcy urged the US Securities and Exchange Commission to move quickly in deciding if it will authorize the failed crypto lender’s plan to transform itself through Chapter 11 into a publicly-traded Bitcoin mining firm.
