Bankruptcy & Restructuring News Headlines for Wednesday Dec 1, 2021

Here's what we are reading this morning:

Elon Musk to SpaceX: Starship's Raptor engine crisis risks bankruptcy: Elon Musk is angry with the lack of progress SpaceX has made in developing Raptor engines. Raptor engines power the company’s Starship rocket, with Musk adding that SpaceX faces “genuine risk of bankruptcy if we cannot achieve a Starship flight rate of at least once every two weeks next year.”

Omicron variant: Employers in 'wait and see' mode on returning to the office: As the world awaits scientific data sufficient to predict risks of COVID-19’s latest variant, Omicron, U.S. companies are considering whether they need to rethink their still nascent return-to-office policies.

Two Important Rulings on Payment of Indenture Trustee Fees in Chapter 11 Cases | Kelley Drye & Warren LLP: Two recent judicial decisions, Sanchez Energy and Tribune Media, highlight the challenges faced by indenture trustees and their professionals in chapter 11 cases where there are no recoveries to noteholders.

Judge Questions If Purdue’s Sacklers Abused Bankruptcy System: The federal judge weighing the $4.5 billion settlement between Purdue Pharma LP and the Sackler family members who own the OxyContin maker said she had serious concerns about whether they abused the bankruptcy system by collecting billions of dollars from the company before it filed for chapter 11 protection.

U.S. judge asks if owners of opioid maker Purdue abused bankruptcy to shield assets | Reuters: A U.S. judge on Tuesday questioned whether members of the Sackler family that owned Purdue Pharma abused the bankruptcy system, as she considers whether to overturn a ruling that shielded the Sacklers from liability over the opioid epidemic.

Musk Says SpaceX Bankruptcy Risk ‘Unlikely’ But Not Impossible - Bloomberg: SpaceX CEO Elon Musk on Tuesday said that a potential bankruptcy at the company in the event of a severe global recession would be “unlikely,” but not impossible.

Supply Chain Problems Have Small Retailers Gambling on Hoarding - The New York Times: Some independent stores ordered in bulk well in advance, and now are hoping they’re able to sell what they have.

Cyber Monday online sales drop 1.4% from last year to $10.7 billion, falling for the first time ever: This year's tally marks the first time that Adobe has tracked a slowdown in spending on major shopping days. Still, Adobe expects the entire holiday season will see record-breaking e-commerce activity, as shoppers spread out their dollars over more days.

Older Post Newer Post