Bankruptcy & Restructuring News Headlines for Wednesday Mar 23, 2022

Here's what we are reading this morning:

Evergrande Delays Results as Banks Seize $2 Billion at Unit - WSJ: Banks have unexpectedly taken control of more than $2 billion held by one of Evergrande’s key subsidiaries, as the embattled property developer said neither it nor its main listed units could meet an imminent deadline to publish their annual results.

Recession Is Unavoidable Without Russian Oil, Dallas Fed Economists Say - Bloomberg: The global economy likely won’t be able to avoid a recession without a resumption of Russian energy exports this year, according to a study by Dallas Fed economists

Lender Takes Control Of Brookfield's Chicago Skyscraper As Troubles Mount For Office Owners: Some believe the pandemic is ending, but the changes it brought are still cutting into the downtown office market, and some owners can't service their debt.

S.E.C. Considers Climate Disclosure Rule  - The New York Times: The commission gave initial approval to a much-anticipated rule that would require public companies to report the climate-related impact of their businesses.

Kinder Morgan’s Ruby Pipeline Debt Talks Stall Over Bond Paydown: Restructuring talks between Ruby Pipeline LLC’s owners and bondholders have hit a snag less than two weeks before the company has nearly half a billion dollars of bonds come due, according to people with knowledge of the matter.

Odd Lots: Here’s How Messy a Russian Bond Default Could Be: On this episode of the Odd Lots podcast, Tracy Alloway and Joe Weisenthal speak with University of Virginia law professor Mitu Gulati and University of North Carolina's Mark Weidemaier. They describe how odd some Russian bonds are and what might happen after default.

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