Bankruptcy & Restructuring News Headlines for Wednesday Oct 12, 2022

Here's what we are reading this morning:

Top U.S. banking regulator warns of 'cross-contagion' between crypto, traditional financial system - MarketWatch: Acting Comptroller of the Currency Michael Hsu staked out a skeptical stance toward crypto in a Tuesday speech

Apollo’s Zelter Sees Chance for Distressed-Debt Bargains in 2023: Apollo Global Management Inc. Co-President Jim Zelter sees potential opportunities to invest in distressed companies starting next year as higher interest rates threaten to push the global economy into a recession.

One-Third Vacant, Massachusetts Mall Shows Why Regional Operators Are in a Bind - WSJ: A mall in a Massachusetts town recently sold for a fraction of its value only a decade earlier, another sign that regional malls are sitting out a recovery in retail real estate.

IMF Warns of Growing Global Risks, Says U.K. Turmoil Largely Contained - WSJ: The fund forecasts an economic slowdown, but says central banks must continue to tighten monetary policy.

Rokit Leaves Millions in Deserted Deals, Lawsuits & Bankruptcies – Variety: In early 2019, the Oakland Raiders began courting an English-American company called Rokit as a founding partner for their soon-to-be Las Vegas home. By then, Rokit, with its primary product lines in mobile phones and alcohol, had a short but notable track record in the world of sports.

Celsius examiner files preliminary work plan for upcoming investigation: While it’s too early for a firm estimate, she said she expects the cost of the investigation to total between $3 million and $5 million

Sam Bankman-Fried hedges on whether FTX will make a bid for Celsius: "There's going to be bankruptcies that are getting started that we may or may not end up playing a role in, but I think that we've probably made most of the moves that we anticipate making for now," he said.

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