Bankruptcy & Restructuring News Headlines for Wednesday Mar 22, 2023

Here's what we are reading this morning:

Pimco, Invesco Face Losses in Credit Suisse Debt Writedown - Bloomberg: Pacific Investment Management Co. and Invesco Ltd. are among the largest holders of Credit Suisse’s so-called Additional Tier 1 bonds that have been wiped out after the bank’s takeover by UBS Group AG.

Judge approves Celsius custody account settlement to return 72.5% of crypto assets: Judge Martin Glenn gave the green light to a settlement between the Celsius debtors, the unsecured creditors committee and an ad hoc group of custodial account holders during a hearing on Tuesday in the U.S. Bankruptcy Court for the Southern District of New York.

FTX’s Crypto Derivatives Platform LedgerX Gets Bid From Miami Exchange - Bloomberg: FTX has attracted bidders including Miami International Securities Exchange for its crypto-derivatives platform, LedgerX, one of the few solvent pieces of Sam Bankman-Fried’s former empire.

TV Azteca Creditors Try to Push Broadcaster Into Bankruptcy - Bloomberg: Some creditors to TV Azteca SAB are trying to force the Mexican broadcaster into bankruptcy after it stopped paying foreign bondholders.

Fashion retailer Scotch & Soda seeks bankruptcy for Dutch operations - report: Privately held retailer Scotch & Soda, which is based in Amsterdam, has filed a bankruptcy request for its Dutch operations, newspaper Het Financieele Dagblad (FD) reported on Monday, citing a company statement.

Which Sectors Have the Most Job Cuts Worldwide: Massive cuts at tech giants like Meta and Microsoft dominate headlines, but don’t tell the whole story. Here’s a full picture of job cuts around the world.

First Republic Taps Lazard For Help With Review of Strategic Options - WSJ: Troubled lender also picks McKinsey for postcrisis planning

Mountain Express Oil Files for Chapter 11 Bankruptcy Protection: Mountain Express Oil Co. has filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas.

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