Bankruptcy & Restructuring News Headlines for Wednesday Jan 19, 2022

Here's what we are reading this morning:

Peloton hires McKinsey to review cost structure as equipment sales slow: Peloton is working with management consulting group McKinsey & Co. to review its cost structure and potentially eliminate jobs, CNBC has learned.

New York Developer All Year Strikes Bankruptcy Deal With Investor: Bankrupt developer All Year wants to settle a dispute with investor Gary Katz by giving him eight properties that he can sell.

Supreme Court to Decide Constitutionality of U.S. Trustee Fees in Chapter 11 Cases | Nelson Mullins Riley & Scarborough LLP: The Supreme Court of the United States granted certiorari on Jan. 10, 2022 in a case arising out of the Circuit City bankruptcy regarding certain additional fees imposed on large Chapter 11 debtors.

Puerto Rico Released From Bankruptcy as Economic Problems Persist - WSJ: A federal judge approved the largest-ever restructuring of U.S. municipal bonds, easing the island’s re-entry to capital markets.

Texas Power Grid Braces for Freeze That Imperils Fuel Supply - Bloomberg: The Texas power grid and the natural gas drillers, wind farms and solar arrays that supply it are facing their second test in less than a month as subzero weather bears down on the Lone Star state.

Paul, Weiss Adds Distinguished Restructuring Partner | Paul, Weiss: Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Kenneth S. Ziman is joining the firm as a partner in the Restructuring Department, resident in the New York office

Chicago Public Media will acquire the Chicago Sun-Times | WBEZ Chicago: The deal was approved by the non-profit board of directors and is expected to close Jan. 31. It will create a new journalistic powerhouse in Chicago and a potential national model.

Escada America Files for Chapter 11 Bankruptcy – WWD: Escada America LLC filed for bankruptcy in Los Angeles on Tuesday, marking the latest leg in the brand’s financial struggles.

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