Bankruptcy & Restructuring News Headlines for Wednesday Apr 13, 2022

Here's what we are reading this morning:

PG&E agrees to pay $55 million in penalties and costs over two wildfires. - The New York Times: The California utility settled civil charges and avoided criminal prosecution over the role of its equipment in igniting the blazes.

U.S. Inflation Accelerated to 8.5% in March, Hitting Four-Decade High - WSJ: U.S. inflation accelerated to 8.5% in March, the Labor Department said, a new four-decade high.

Sri Lanka to Suspend External Debt Payments - WSJ: The Sri Lankan government said it would suspend external debt payments to most foreign creditors as the island nation looks to overcome an economic and fiscal crisis that has depleted foreign currency reserves.

Record High Office Lease Expirations Pose New Threat to Landlords and Banks - WSJ: Many office tenants whose leases expired last year or in 2020 negotiated extensions of only a year or two, as firms tried to determine how much less space they might need under a hybrid work approach.

Mexico’s Kaltex Falls Into Default, S&P Expects Exchange Offer: Grupo Kaltex, one of Mexico’s biggest textile producers, fell into default after it failed to pay back $218 million of bonds maturing Monday, but is expected to restructure its debt in the coming weeks, according S&P Global Ratings.

Vehicle Sales Continue Their Depression | Blogs | Dashboard Insights | Foley & Lardner LLP: Anyone want to buy a vehicle? A better question might be: anyone got a vehicle for sale? Whether because of supply side issues, demand side issues, other issues, or all of the above, the fact remains that the first quarter of 2022 was not a good quarter for vehicle sales.

Ion Geophysical Files for Chapter 11 in U.S. Bankruptcy Court: Ion Geophysical said it filed for voluntary Chapter 11 relief in U.S. Bankruptcy Court for the Southern District of Texas.

Older Post Newer Post