Bankruptcy & Restructuring News Headlines for Wednesday Jun 29, 2022

Here's what we are reading this morning:

A Foreign Entity May be Subject to U.S. Bankruptcy Court Jurisdiction Simply by Utilizing a U.S. Bank Account in a Transaction with Another Foreign Entity - Weil Restructuring: This article discusses certain decisions issued in In re Arcapita Bank B.S.C.(C), including the District Court of the Southern District of New York’s recent decision holding that a foreign entity does not need to do business in the United States to find itself within the jurisdiction of a U.S. bankruptcy court.

PREPA bondholders oppose litigation, criticize mediation efforts | Bond Buyer: Bondholders contest Puerto Rico Oversight Board's claim that parties are engaging constructively in mediation.

Consumers’ Outlook on the Economy Hits Lowest Point in Nearly a Decade - WSJ: The Conference Board’s expectations index for June dipped to a level not seen since 2013 as overall consumer confidence fell.

Former Toys ‘R’ Us Directors to Face Bankruptcy Trial Over Liquidation: A bankruptcy judge ordered former Toys “R” Us directors and officers to face trial on allegations stemming from an attempted chapter 11 restructuring that left suppliers with more than $600 million in unpaid bills.

Celsius seeks show of client support as lawyers push for Chapter 11 bankruptcy: Lawyers hired by crypto lender Celsius are advocating for Chapter 11 bankruptcy, according to people with knowledge of the situation. But executives at the firm believe many of its clients would prefer Celsius to avoid lengthy and painful bankruptcy proceedings.

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