Here's what we are reading this morning:
Now Evergrande’s EV unit warns of running out of cash | Bankruptcy News | Al Jazeera: The warning shows the embattled property developer’s liquidity crisis is worsening across its business.
Lynn Tilton-Backed Army Contractor Hit With $36 Million Verdict in Fraud Case - WSJ: A federal jury found that a helicopter maker backed by financier Lynn Tilton defrauded the U.S. military, awarding $36 million in damages to the government and whistleblowers, an amount that could be tripled under a federal law.
Puerto Rico Lawmakers Present Debt-Restructuring Bill - Bloomberg: Puerto Rico’s House of Representatives filed a debt-restructuring bill Monday that proponents say will allow the U.S. territory to make its way out of bankruptcy while protecting pensioners and municipalities.
U.S. Units of Trane Reach Proposed $545 Million Settlement in Bankruptcy - WSJ: Roughly 80,000 asbestos claims pushed the two units, Aldrich Pump and Murray Boiler, into chapter 11 last year. The settlement still requires bankruptcy court approval.