Bankruptcy & Restructuring News Headlines for Wednesday Jun 14, 2023

Here's what we are reading this morning: bids for Bed Bath & Beyond IP assets: Online retailer's $21.5 million bid for Bed Bath & Beyond's intellectual property will set the floor for a bankruptcy-run auction.

Crypto Yield Platform Haru Invest Pauses Withdrawals and Deposits - Bloomberg: Haru Invest has paused deposits and withdrawals “until further notice” on its high-yielding digital asset management platform, citing “a certain issue” with one of its partners.

Binance US, SEC Not Far Apart on Deal Avoiding Full Asset Freeze - Bloomberg: US District Judge Amy Berman Jackson said Tuesday the two sides appeared “not that far apart” on ways to protect billions of dollars in customer funds without shutting the exchange down while the SEC’s lawsuit proceeds. She referred them to a magistrate judge to work on a compromise agreement.

Anchor Glass considers strategic alternatives as clock ticks on term loan | ION Analytics Community: Anchor Glass Container is working with advisors to explore strategic options, including a potential sale, ahead of upcoming maturities on its debt later this year, said two sources familiar with the matter.

Illinois senior living community eyes sale through bankruptcy | Bond Buyer: Friendship Village of Schaumburg couldn't overcome the fiscal setback of COVID-19 on its operations and after negotiations with bondholders and struggles to find a buyer turned to Chapter 11 to facilitate a sale that would free the buyer of debts and liens.

Post-Pandemic Spending on Hotels and Travel May Be Cooling Down - The New York Times: Spending on hotels, airline tickets and recreation surged after the pandemic. This summer could mark a shift back to normal.

Crypto’s Falling PR Image Hurts Interest in Bitcoin, ETFs - Bloomberg: Nearly $172 million exited from global exchange-traded products tracking everything from Bitcoin to Cardano in the first six months of 2023 amid an industry wide rally, following outflows of just $37 million in 2022. That compares to record cash inflows of nearly $10 billion in 2021 and $6.7 billion in 2020, Bloomberg data show.

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