AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains original content developed by AGG’s Bankruptcy, Creditors’ Rights, & Financial Restructuring attorneys.
Industry News
March 7, 2023 (Fortune)
Twitter Inc. may break even on a cash-flow basis in the second quarter and has a shot at even going positive, according to owner Elon Musk.
March 7, 2023 (Bloomberg)
Revlon Inc. is grappling with a growing number of allegations that some of its hair products cause cancer as the cosmetics company looks to exit Chapter 11 bankruptcy.
March 7, 2023 (Yahoo! Finance)
The army of professionals working on the FTX bankruptcy case has billed a collective $38 million plus expenses for the month of January, according to court records.
March 6, 2023 (Forbes)
New Zealander Robert Plasco moved to London to work in finance. Lacking the credit history needed for a loan, he turned to high-interest credit cards to cover the high cost of living. "In 2017, I went bankrupt," says Plasco, founder & CEO of Plend.
March 5, 2023 (Yahoo! News)
Once a crucial banking partner for the crypto firms, Silvergate Capital (SI), is now on the cusp of failure.
March 3, 2023 (Yahoo! Finance)
A shortage of albuterol, a widely used drug for the treatment of asthma and respiratory syncytial virus (RSV), could worsen after a major manufacturer, Akorn, shuttered three of its facilities last month.
March 2, 2023 (WHTM-TV - Daybreak)
New bankruptcy filings in February 2023 registered double-digit increases year-over-year across all U.S. major filing categories, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Epiq Bankruptcy is a division of Epiq, a global technology-enabled services leader to the legal services industry and corporations.
March 2, 2023 (Forbes)
Following the decision by the Sinclair Broadcast GroupSBGI -0.3% subsidiary, the Diamond Sports Group, owner of the 19 Bally Sports RSN’s, not to pay a $140 million debt payment and, likely, declare bankruptcy. Another RSN could be defaulting on its payments.
March 2, 2023 (Yahoo! News)
Creditors of the defunct Mt Gox cryptocurrency exchange will soon begin the process of recuperating some of their funds, leading to fears among investors that mass liquidations could lead to a bitcoin price slump.
