Bankruptcy & Restructuring News Headlines for Wednesday Sep 27, 2023

Here's what we are reading this morning:

New York Public Radio to Cut 12% of Work Force - The New York Times: The chief executive of New York Public Radio, which operates WNYC and the classical music station WQXR, said the organization was facing a “free fall” in advertising.

Crypto Lender BlockFi Cleared to Repay Customers Through Liquidation Plan - BNN Bloomberg: Failed crypto lender BlockFi Inc. won bankruptcy court approval on its plan for shutting down its business, a milestone that could result in customers getting back a portion of what they’re owed by the end of the year.

Binance, the World’s Biggest Crypto Firm, Is Melting Down - WSJ: "Every battle is a do-or-die situation," Binance co-founder Yi He writes.

Private Equity Zombie Firms Leave Pension Funds With Hard Choices - Bloomberg: A historic shakeup is threatening to snare many small, struggling or fading money managers unable to raise fresh funds.

Struggling Airline SAS Weighs Bids From Equity Investors: Scandinavia’s biggest airline SAS AB has received a final round of bids from potential suitors looking to invest in the carrier as part of a rescue plan to shore up its ailing finances.

Guangdong Adway Construction Files for Bankruptcy - WSJ: Guangdong Adway Construction has filed for bankruptcy in a Shenzhen court due to its inability to repay debts amid China’s stressed real-estate sector.

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