Bankruptcy & Restructuring News Headlines for Wednesday Sep 6, 2023

Here's what we are reading this morning:

Return-to-Office Is a $1.3 Trillion Problem Few Have Figured Out: Three and a half years after millions of office-goers were sent home en masse, companies, employees and governments are still figuring out how to adapt to lasting changes to corporate life. But stark differences have emerged across continents and cultures, with Asian and European workers largely returning to offices at a faster pace than their counterparts in the Americas.

Rochester Diocese Insurer Pushes $201 Million Bankruptcy Plan: Continental Insurance Co. submitted a restructuring plan proposal for the bankrupt Catholic Diocese of Rochester, New York that would create a sex abuse victims trust with more than $200 million.

Baltimore archdiocese weighs bankruptcy with expected surge of lawsuits: An email chain obtained by The Baltimore Sun confirms a bankruptcy filing is under consideration as the Baltimore archdiocese faces a surge of child sex abuse lawsuits under a new Maryland law that will lift the statute of limitations on claims.

Apollo Tries to Salvage Amazon Aggregator Investment With Sale - Bloomberg: Apollo Global Management Inc. is trying to salvage an ill-timed bet it made two years ago on Inc. aggregators, companies that scooped up popular online brands and are now teetering after the pandemic-fueled sales boom evaporated.

Child-care cliff: As federal funding expires, a new crisis for parents, day cares - The Washington Post: As federal funds run out, 1 in 4 daycares could soon close, adding new strain to a nation already struggling with a profound lack of child care.

In Memoriam: Carl Tullson | Skadden, Arps, Slate, Meagher & Flom LLP: Skadden mourns the passing of our friend and partner Carl Tullson.

Genesis to Shutter Crypto Trading Desk for U.S. Market: The subsidiary had escaped parent company Genesis Global's lending-induced bankruptcy.

The Disruptive Power of Weight Loss Drugs Is Being Felt Beyond Pharma: Retailers, the makers of foods marketed for weight loss, and other types of companies could see knock-on effects from the rise of diabetes and weight loss drugs like Ozempic.

The Ground-Floor Window Into What’s Ailing Downtowns : City centers may have to be reimagined to solve the problem of vacant storefronts.

Margaritaville Aims to Hang On After Jimmy Buffett’s Death - The New York Times: The musician and his carefree vacation vibes inspired a business empire. Can it go on without its founder?

Country Garden, China’s Indebted Developer, Meets Payment Deadline: The embattled Chinese property giant is said to have avoided default by meeting a deadline to pay interest on small loans. But it must repay billions within the next year.

FDIC Starts Marketing $33 Billion of Signature Property Debt: The Federal Deposit Insurance Corp. has begun seeking buyers for $33 billion of commercial property loans from Signature Bank, the latest step in a massive offloading of debt from the bank that collapsed earlier this year.

Older Post Newer Post