Bankruptcy & Restructuring News Headlines for Wednesday Jun 22, 2022

Here's what we are reading this morning:

Companies Face Rising Supply-Chain Costs Amid Inventory Challenges - WSJ: Business logistics costs rose 22% in 2021, as companies worked to adjust to shifting consumer demand, a new report says.

Weil European Distress Index | Weil, Gotshal & Manges LLP: Corporate distress across key European markets rose to its highest level since August 2020, driven by pressures on risk, liquidity and financial markets, according to the latest Weil European Distress Index. The study, which aggregates data from more than 3,750 listed European corporates and financial market indicators, shows that large caps are experiencing the highest distress across all groups of European listed companies.

Revlon's complicated bankruptcy: The cosmetics giant must smooth over a few wrinkles involving intellectual property and a term loan.

China Evergrande sticks to restructuring plan target of before end-July | Reuters: China Evergrande Group said it expects to announce its preliminary restructuring plan before the end of July, sticking to its original deadline as the world's most indebted property developer struggles to emerge from its financial crisis.

Press Release: Bill Signed: S. 1097, S. 2520, and S. 3823 | The White House: S. 3823, the “Bankruptcy Threshold Adjustment and Technical Corrections Act,” which raises certain bankruptcy threshold limits and makes technical corrections to the Bankruptcy Administration Improvement Act.

Distressed CMBS Realized Losses Soar in May – Commercial Observer: “CMBS conduit and secured-based lending (SBL) transactions racked up approximately $263 million in realized losses during May 2022 through the workout of distressed assets, marking a sharp rise from the previous month,” wrote Marc McDevitt, a senior managing director at CRED iQ.

$210Mln Loan Against Mall Near Rochester, N.Y., Moves to Special Servicing – Commercial Real Estate Direct: The $210 million CMBS loan against the Eastview Mall and Commons shopping mall and power center in the Rochester, N.Y., suburb of Victor, N.Y., has moved to special servicing

The Fed - Financial and Macroeconomic Indicators of Recession Risk: The analysis herein highlights how financial, leading indicator, and other macroeconomic variables provide different signals regarding the risk of a recession.

Revlon Stock Jumps 456% Since Filing for Chapter 11 Bankruptcy As Retail Buys: In an attempt to replicate the magic of Hertz, which soared nearly ten-fold in June 2020 after the company filed for bankruptcy, retail investors are piling into shares of Revlon.

Older Post Newer Post