Bankruptcy & Restructuring News Headlines for Tuesday Sep 20, 2022

Here's what we are reading this morning:

Home-Flipper Opendoor Hit With Losses in Echo of Zillow Collapse - Bloomberg: Company lost money on 42% of its August resales after it failed to anticipate slide in housing demand

The ‘Billionaire Rabbi Astrologer’ Who Faked a Lord & Taylor Bid: Rabbi Clifford Ari Getz, PhD (in truth, Russell Dwayne Lewis, and not a rabbi at all, according to federal prosecutors in Manhattan) was arrested in August and accused of faking a $290 million bid in bankruptcy court for Lord & Taylor, the nearly 200-year-old department store chain that went under in 2020.

Do Kwon at Risk of an Interpol Red Notice as Net Tightens - Bloomberg: South Korean prosecutors have asked Interpol for help in arresting Do Kwon, the progenitor of a $60 billion cryptocurrency wipeout, as they seek to charge him with alleged crimes including breaking capital-markets laws.

Puerto Rico Ends Negotiations on $9 Billion Utility Debt Without Deal: Puerto Rico ended talks with power revenue bondholders without a negotiated deal on $9 billion in debt, leaving its bankrupt electric utility once again without a clear path out of court protection, according to people familiar with the matter.

Alameda to repay $200 million to bankrupt lender Voyager: Alameda will repay 6,553 in bitcoin (roughly $128 million) and 51,204 in ether (roughly $70 million) in principal and loan fees, as well as smaller amounts in seven other tokens, according to a court filing last night. The loans are due to be repaid by Sept. 30, the filing said.

Voyager Bankruptcy Auction to Continue Tuesday: According to the Voyager Official Committee of Unsecured Creditors: "The auction has been adjourned for the day and is scheduled to resume tomorrow [Tuesday] at 9 a.m. ET."

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