Bankruptcy & Restructuring News Headlines for Tuesday Sep 21, 2021

Here's what we are reading this morning:

How Car Rentals Explain the 2021 Economy - The New York Times: Prices have fallen recently but not to previous levels. The industry reflects the American economy’s long, strange trip.

Evergrande Gave Workers a Choice: Lend Us Cash or Lose Your Bonus - The New York Times: The Chinese property giant owes $300 billion and is on the hook for as many as 1.6 million apartments. It may owe tens of thousands of its employees money, too.

Amazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’ - WSJ: Retailers big and small are using installment plans to wring more sales out of shoppers who can’t get credit cards.

Saba, Redwood Are Among Credit Funds Buying Evergrande Bonds - Bloomberg: Saba Capital Management, Redwood Capital Management, Contrarian Capital Management and Silver Point Capital are among funds that have built positions in offshore bonds of China Evergrande Group’s ahead of a likely default of the real estate giant.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Bankruptcy or Receivership (Item 1.03) for the Week Ended Monday Sep 20, 2021:

Judge mulls Johnson & Johnson bid to block vote changes in ex-talc supplier bankruptcy | Reuters: Johnson & Johnson on Monday attempted to discredit efforts by lawyers representing personal injury claimants to change their votes on the restructuring plan of J&J's former talc supplier, Imerys Talc America Inc.

Connecticut Attorney General William Tong files motion for stay in Purdue Pharma bankruptcy case. Opioid manufacturer would be freed from lawsuits under bankruptcy deal. - Hartford Courant: “While the Sacklers refused to subject themselves, personally, to individual bankruptcy cases, they seek to piggyback on this corporate bankruptcy to shield themselves from any future liability for their role in the opioid crisis while holding onto billions in ill-gotten gains,” Connecticut and Washington State alleged.

Payroll Financing Firm Flexible Funding Hits Ch. 11 In Texas - Law360: California payroll financing company Flexible Funding Ltd. has filed for Chapter 11 protection in a Texas bankruptcy court alongside its trucking factoring service, claiming $96 million in secured debt.

National Museum Of American Jewish History Officially Emerges From Chapter 11 Reorganization: Established in 1976, and situated on Philadelphia's Independence Mall, the National Museum of American Jewish History is the only museum in the nation dedicated exclusively to exploring and interpreting the American Jewish experience.

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