High Court to Decide if Puerto Rico Board Has Sovereign Immunity: The US Supreme Court will examine whether the federal board overseeing Puerto Rico’s financial restructuring has sovereign immunity that would shield it from a news organization’s lawsuit seeking public records.
Clean Energy Firm Xebec Seeks to Protect US Assets in Bankruptcy: Xebec Adsorption Inc. put its US business into bankruptcy Friday in order to protect the unit’s assets from creditors while the clean energy company reorganizes in Canada.
Bed Bath & Beyond makes progress on supplier payments | Retail Dive: “Working with our supplier partners remains an important focus area and I’m pleased to share that our payables are considerably healthier than in the prior quarter as evidenced on our balance sheet,” interim CEO Sue Gove noted on a Thursday earnings call
18 retailers at risk of bankruptcy as consumers tighten wallets in 2022 | Retail Dive: This time last year the retail companies that carried the very lowest FRISK scores, indicating the highest risk of bankruptcy, numbered just three. As of Sept. 30 this year, the number had surged to 18, a cohort size much more in line with pre-pandemic risk levels.
Bitcoin mining revenues down 16.2% in September: Bitcoin mining revenue fell 16.2% in September to about $550.5 million, marking its fifth decline in the last six months and the lowest total since November 2020, according to data compiled by The Block Research.
Business Restructuring Review Vol. 21, No. 5 | September–October 2022 | Jones Day : Bankruptcy and appellate courts disagree over the standard that should apply to a request for payment of a break-up fee or expense reimbursement to the losing bidder in a sale of the debtor’s assets outside the ordinary course of the debtor’s business.
Violating the Laws of Economics for Fun and Profit - WSJ: There has been a lot written about how and why meme stocks continue to defy the law of gravity, but now something far weirder is going on—violating the law of one price.
A Tale of 4 Cities: How Different Jurisdictions Recently Address Third-Party Releases | Dorsey & Whitney LLP: The debate over third-party releases will continue, as the Fifth and Tenth Circuits have strictly prohibited the use of such third-party releases, while other Circuits, in varying degrees, have allowed third-party releases.
Less Turnover, Smaller Raises: Hot Job Market May Be Losing Its Sizzle - The New York Times: Unemployment is low, and hiring is strong. But there are signs that frenzied turnover and rapid wage growth are abating.
Safety-Net Hospital Owner Pipeline Health Files for Bankruptcy: The community hospital operator said it struggled with rising labor costs and aging facilities and filed for chapter 11 to sell its assets or hand the business to lenders.
US Bankruptcy Judge Shelley Chapman Returns to Willkie Farr: Shelley C. Chapman, former US Bankruptcy Judge for the Southern District of New York, has rejoined Willkie Farr & Gallagher as senior counsel, the firm said Monday.
Adamis Reviewing Alternatives; May Seek Bankruptcy Protection: Adamis Pharmaceuticals has initiated a process to explore a range of strategic and financing alternatives following the halt of its Phase 2/3 clinical trial examining the effects of Tempol in high risk subjects with early COVID-19 infection.
Bed Bath & Beyond Creditors Organize Ahead of Bond Talks: Bed Bath & Beyond’s bondholders are organizing, looking to protect their investments in the struggling retailer as it looks for ways to ease its debt during a slump in sales, according to people with knowledge of the matter.
Kabbage Says Will Implement Windown Through Chapter 11 Process: Kabbage Inc. says it has voluntarily filed for relief and protections under Chapter 11 in the US Bankruptcy Court for the District of Delaware.