Bankruptcy & Restructuring News Headlines for Wednesday Mar 2, 2022

Here's what we are reading this morning:

Nord Stream 2 is insolvent - SRF: On Tuesday it became known that the company "Nord Stream 2 AG", based in Zug, had to lay off many employees. It is building the gas pipeline between Russia and Germany and was hit hard by the sanctions against Russia. In an interview with SRF, the Zug economics director Silvia Thalmann-Gut now specifies: The company had to file for bankruptcy and the entire workforce of 106 people is released.

Nord Stream 2 Gas Pipeline Lays Off All Employees - WSJ: The operator of the pipeline connecting Russia with Germany faces ‘massive payment difficulties’ amid sanctions, according to a Swiss economic official.

Eros STX Puts Gerard Butler Disaster Movie Rights in Bankruptcy: A unit of Eros STX Global Corp. that owns the distribution rights to a forthcoming Gerard Butlerdisaster movie sequel filed for bankruptcy in Louisiana, court papers show.

The Heavy Burden of Sustaining an Administrative Claim Just Got A Bit Lighter In Delaware Bankruptcy Court | Obermayer Rebmann Maxwell & Hippel LLP: Recently-appointed Delaware Bankruptcy Judge Craig T. Goldblatt, in the case of oil and gas driller MTE Holdings LLC, ruled that to establish an administrative claim entitled to priority payment, a creditor is not required to show that the goods or services resulted in an actual increase in the debtor’s profits or value; rather that it is sufficient if the debtor reasonably believed that they would enhance revenue or the overall value of the business

Commodities Jump Most Since 2009 as Ukraine War Threatens Supply - Bloomberg: The Bloomberg Commodity Spot Index, which tracks 23 futures contracts, climbed 4.1% on Tuesday. The gauge has more than doubled from a four-year low reached in March 2020, during the early days of the health crisis.

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