Bankruptcy & Restructuring News Headlines for Wednesday Jun 8, 2022

Here's what we are reading this morning:

Supreme Court Rules Discrepancy in Chapter 11 Fees Unconstitutional: For most of 2018, bankruptcy fees for large companies were higher in 48 states than in Alabama and North Carolina, running afoul of the constitution’s requirement for uniform bankruptcy laws.

Supreme Court Resolves Split on U.S. Trustee Fees - Weil Restructuring: The Supreme Court held in Siegel v. Fitzgerald that a statutory amendment that increased U.S. Trustee fees violated the Constitution’s Bankruptcy Clause’s uniformity requirement.

Global Growth Will Be Choked Amid Inflation and War, Says World Bank - The New York Times: “For many countries, recession will be hard to avoid,” David Malpass, head of the bank, said.

Walden Galleria owner avoids loan default with three-year extension: The Walden Galleria has been facing hard times, as the drop-off in shoppers in recent years due to the Covid-19 pandemic and increase in online shopping is creating financial hurdles for the owner of the Cheektowaga mall.

Credito Real Prepares Bankruptcy Filing After Bond Default - Bloomberg: Credito Real SAB, Mexico’s largest payroll lender, which fell into default earlier this year, is preparing a potential bankruptcy filing in the US as soon as this week, according to people with knowledge of the situation.

Kastle Says 43% Office Occupancy "New Normal" Nationwide | GlobeSt: With its 10-city average Back to Work Barometer hovering at 43% of occupancy for more than two months, Kastle Systems said this week that offices barely half full may be the new normal for businesses nationwide.

Sackler Criminal Case Sought by Connecticut AG Over Opioids - Bloomberg: Connecticut Attorney General William Tong said he’ll ask the state’s top prosecutor to consider criminal charges against members of the billionaire Sackler family over improper marketing of the opioid painkiller OxyContin by their company, Purdue Pharma LP.

As the Great Salt Lake Dries Up, Utah Faces An ‘Environmental Nuclear Bomb’ - The New York Times: Climate change and rapid population growth are shrinking the lake, creating a bowl of toxic dust that could poison the air around Salt Lake City.

Short sellers raise bets against GameStop and AMC to highest level in a year as Wall Street sees more pain ahead - MarketWatch: Short interest is equivalent to 23% of GameStop's float; for AMC that figure is 22%, according to data from S3 Partners.

U.S. consumer credit rockets to new record-high in April - MarketWatch: Total consumer credit rose $38.1 billion in April to a record-high $4.57 trillion, the Federal Reserve said Tuesday.

Transfer of Judge Sean H. Lane to the White Plains Division: Effective July 1, 2022, the official duty station of Judge Sean H. Lane will be transferred from the Manhattan Division to the White Plains Division. Judge Lane will replace Judge Robert D. Drain who is scheduled to retire on June 30, 2022.

Home Products International files for Chapter 11, plans to liquidate | Crain's Chicago Business: Home Products International is going out of business, blaming rising resin prices and an unsuccessful attempt to sell the company.

Older Post Newer Post