Bankruptcy & Restructuring News Headlines for Wednesday Feb 16, 2022

Here's what we are reading this morning:

Judges Mediating Other Judges’ Cases: A Report (Harder/Sunwest) – MEDIATBANKRY: The report poses this question: Assuming trained private neutrals are ready, willing, and able to serve, “what drives lawyers to request [and judges to propose] a mediating judge rather than a private neutral?

Gunmaker Remington to pay $73m in settlement with Sandy Hook families - The Boston Globe: Remington, one of the nation’s oldest gun makers founded in 1816, filed for bankruptcy for a second time in 2020 and its assets were later sold off to several companies. The manufacturer was weighed down by lawsuits and retail sales restrictions following the school shooting.

Scientists Forecast U.S. Sea Levels Could Rise a Foot by 2050 - WSJ: Sea levels are expected to rise rapidly over the next 30 years, bringing more frequent and more destructive floods.

Farmers Feel the Squeeze of Inflation - WSJ: Higher farm costs could help push up grocery bills further in 2022, analysts say, following a year in which global food prices rose to decade highs.

J&J Talc Suits Threatened Stellar Credit Rating, Treasurer Says: Johnson & Johnson adopted its controversial strategy for battling cancer claims tied to baby powder after a $2 billion court loss sparked concern that the company’s perfect credit rating could be damaged by the growing number of similar lawsuits, a retired J&J treasurer testified.

Virginia Mega Bankruptcies to Get Random Judges After Purdue Case: The Eastern District of Virginia, a top bankruptcy venue for debtors, will randomly assign its judges to large Chapter 11 cases that are worth at least $100 million, regardless of which of its courthouses first received the initial filing.

Companies revert to more normal operations as COVID wanes | AP News: For the first time in two years for many people, the American workplace is transforming into something that resembles pre-pandemic days. Tysons Foods said Tuesday it was ending mask requirements for its vaccinated workers in some facilities.

Opinion | Covid-19 has created a crisis in urban downtowns - The Washington Post: If the heart of the city has big dead patches, can the rest of the city be healthy?

ABA Revenue Falls Short Of Goal Amid Membership Dip - Law360: Amid a continued slide in membership dues and a decline in meeting revenues, the American Bar Association fell $4 million short of its budgeted operating revenue during the first four months of the fiscal year, according to a presentation by treasurer Kevin Shepherd at the organization's midyear meeting Monday.

Turkish Economy Could Get Caught in Russia-Ukraine Crossfire - WSJ: A conflict between Turkey’s neighbors could add to pressure on Ankara’s currency and inflation.

KKR-Owned Marelli in Talks With Mizuho, Other Lenders on Debt Reorganization - Bloomberg: The auto-parts company, created in 2019 when KKR merged its Calsonic Kansei and Magneti Marelli units, is seeking to file as soon as March for an alternative dispute resolution in Japan, said the people, who asked not to be identified because the information isn’t public

Church reverses course on request to seal records | The Archdiocese of Santa Fe and four insurance companies Monday backed away from a request to have some records sealed from public view in its bankruptcy case involving hundreds of people who allege sexual abuse by Catholic clergy.

Crystal Cruises is over, assignee appointed to handle liquidation: Two suitors had made offers for Crystal Cruises, one in first quarter 2021 and one in January 2022, deals that were 'not consummated by the parent company.' Subsequently, Crystal management viewed filing for Chapter 11 bankruptcy protection in the US as the best course under the circumstances. That would have required some funds to carry out the process. A Florida court approved Michael Moecker & Associates under an assignment for the benefit of creditors (ABC) filing.

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