The Federal Deposit Insurance Corp. objected to SVB Financial Group’s proposed restructuring plan as the two continue litigating over $1.9 billion in disputed funds.
<-bsp-bb-link state="{"bbHref":"bbg://securities/106180Z%20US%20Equity","_id":"00000190-994c-d0b4-afdb-ddffd01a0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Purdue Pharma LP secured a two-month window to negotiate a new pact with members of the Sackler family as the OyxContin maker and its owners brace for a potential wave of civil opioid lawsuits after the US Supreme Court <-bsp-bb-link state="{"bbDocId":"SFRA7RT1UM0X","_id":"00000190-994c-d0b4-afdb-ddffd01a0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">scuttled an earlier $6 billion settlement.
<-rte-company state="{"_id":"00000190-9cdb-d0b4-afdb-ddffce6a0000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">WeWork Inc. will turn a floor at a Manhattan office tower into a work lounge that can be used by all of the building’s tenants, a first for the coworking company.
Bankers from <-rte-company state="{"_id":"00000190-98ec-d0b4-afdb-ddffbc5d0000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Moelis & Co. have been gauging investor interest in providing fresh money to low-cost gym operator <-bsp-bb-link state="{"bbHref":"bbg://securities/1743153D%20US%20Equity","_id":"00000190-98ec-d0b4-afdb-ddffbc5d0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Blink Fitness as it works on a restructuring, according to people with knowledge of the matter.
The Boy Scouts of America must provide briefing on how the US Supreme Court’s recent decision about Purdue Pharma’s bankruptcy will affect a pending appeal of the youth organization’s sex abuse litigation settlement.
The bankrupt owner of <-rte-company state="{"_id":"00000190-9f2e-d6e5-adde-bfffdc3b0000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Redbox Entertainment Inc. will be liquidated, a judge ruled Wednesday, after lawyers for the company and lenders accused its former chief executive officer of mismanaging the business and failing to pay workers or fund their health benefits.
The Argentine government made $2.6 billion of principal and interest payments on its international bonds that came due July 9, Finance Secretary <-bsp-person state="{"_id":"00000190-9f1c-d6e5-adde-bfdd8bcb0000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Pablo Quirno confirmed at an event in Buenos Aires.
A surprise return to profit has propelled <-rte-company state="{"_id":"00000190-9fff-d6e5-adde-bfff52410000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Vietnam Airlines JSC to become the world’s best performing airline stock this year, shrugging off the risk of bankruptcy as the company’s post-pandemic recovery finally picks up momentum.
The judge overseeing the bankruptcy of <-bsp-bb-link state="{"bbHref":"bbg://news/topics/PRBON","_id":"00000190-9ed3-d6e5-adde-bfd357cc0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Puerto Rico’s electric utility directed the parties to reach a consensual debt-cutting deal through mediation and put a hold on most legal filings for at least 60 days to force the borrower and its creditors to focus on their negotiations.
An Amyris Inc. shareholder has dropped his derivative suit over alleged short-swing trading by a board member’s investment fund because the parties have reached a settlement, according to a court filing.
Investors including <-bsp-bb-link state="{"bbHref":"bbg://securities/700428Z%20US%20Equity","_id":"00000190-9ea5-d6e5-adde-bff588c70000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Silver Point Capital and bond giant <-bsp-bb-link state="{"bbHref":"bbg://securities/21429Z%20US%20Equity","_id":"00000190-9ea5-d6e5-adde-bff588c70001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Pacific Investment Management Co. wrongly stripped collateral rights from other investors via a $250 million rescue financing for Platinum Equity-backed
Fast-casual restaurant chain Mod Pizza was acquired by <-bsp-bb-link state="{"bbHref":"bbg://securities/1660488D%20US%20Equity","_id":"00000190-9ea0-d6e5-adde-bff1f2d30000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Elite Restaurant Group as the company seeks to avoid a potential bankruptcy filing.
Some creditors of <-bsp-bb-link state="{"bbHref":"bbg://securities/0154614D%20US%20Equity","_id":"00000190-9e53-d6e5-adde-bfd323170000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Hughes Satellite Systems Corp. are in the process of retaining <-bsp-bb-link state="{"bbHref":"bbg://securities/1113L%20US%20Equity","_id":"00000190-9e53-d6e5-adde-bfd323170001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Jones Day for advice on debt, according to people with knowledge of the matter.
Rite Aid Corp. and 10 subsidiaries and affiliates will pay $7.5 million and allow a claim of $401.8 million in Rite Aid’s bankruptcy case to settle allegations under the False Claims Act and Controlled Substances Act, the Justice Department announced Wednesday.
F9 Investments said all three of its nominees were elected to serve as directors on LL Flooring’s board.
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