Boy Scouts Beats Appeal of Bankruptcy Settlement Plan: The Boy Scouts of America defeated an appeal of its bankruptcy reorganization plan that will pay $2.46 billion to thousands of child sexual abuse victims through a settlement trust.
SVB Collapse Leaves Tech Companies Struggling to Get Leveraged Loans - Bloomberg: Investors are growing more wary of lending to technology companies, fearing that the bout of volatility sparked by the global banking crisis could exacerbate stress in an industry already saturated with lower-rated debt.
FTX’s Sam Bankman-Fried Charged With Bribing Chinese Officials - The New York Times: Federal prosecutors said the FTX founder had instructed employees to pay $40 million to Chinese officials to help unfreeze accounts maintained by FTX’s sister company, Alameda Research.
U.S. judge 'troubled' by Alex Jones' bankruptcy evasion | Reuters: A U.S. bankruptcy judge said on Monday he was "troubled" by right-wing conspiracy theorist Alex Jones' recent effort to shift advertising revenue away from his bankrupt company Free Speech Systems, saying he was on high alert for other signs of misconduct.
Private equity owned portfolio company bankruptcies surge - Private Equity News: Bankruptcy court filings by companies owned by private equity firms have set a blistering pace this year, on track to more than double filings in 2021 and 2022, according to a report by S&P Global Market Intelligence. The trend indicates that PE firms may be less willing to put new investments into struggling companies, the report said.
SVB customers tried to pull nearly all deposits in two days, Barr says: The run on Silicon Valley Bank's deposits this month went far deeper than was initially known.
Weil European Distress Index - March 2023 | Weil, Gotshal & Manges LLP: Corporate distress across key European markets has eased marginally in the last quarter, but remains above long-run average levels. In part, this reflects a slightly more optimistic economic outlook since the November 2022 Weil European Distress Index (WEDI).
Catalina Reaches Agreement to Sell Japanese Subsidiary and Restructure Balance Sheet to Accelerate Investments in Strategic Growth Areas : In accordance with the RSA, the company has filed voluntary petitions for a prepackaged restructuring under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York.