Bankruptcy & Restructuring News Headlines for Wednesday Sep 20, 2023

Here's what we are reading this morning:

Bankrupt Drugmaker Mallinckrodt Considers Sale of Opioid Business - WSJ: Some investors, poised to take control through chapter 11, are suggesting the company break up its business units.

UpHealth Subsidiary Files for Chapter 11 - WSJ: Bankruptcy filing comes after a New York court ruled against the digital-health company in a lawsuit with investment bank Needham.

UpHealth Subsidiary, UpHealth Holdings, Files Voluntary Reorganization Under Chapter 11 of the U.S. Bankruptcy Code: The Chapter 11 filing follows the September 14, 2023 decision by a trial court in New York to grant summary judgment in favor of Needham & Company LLC in a lawsuit unrelated to the Company’s operations.

Sunac China files for Chapter 15 bankruptcy protection | CNN Business: One of China’s leading property developers, Sunac, has filed for bankruptcy protection in the United States, shortly after winning approval from its creditors to restructure nearly $10 billion worth of debt.

Stanford Will Return Gifts Received From Bankrupt Crypto Exchange FTX - Bloomberg: University received $5.5 million from FTX, lawsuit alleges; Bankman-Fried’s parents were longtime Stanford law professors

U.S. SEC’s Crypto Enforcement Chief Warns Charges Won't End at Coinbase, Binance: David Hirsch, who runs the agency’s office that handles crypto enforcement, says that apart from Coinbase and Binance, there are other exchanges and DeFi straying from the law.

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