 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: Bayer Seeks New Roundup Settlement While Exploring Monsanto Bankruptcy
Bayer is making another push to resolve lawsuits linking the popular weedkiller Roundup to cancer, while exploring a bankruptcy filing for its Monsanto agriculture business in case the settlement plan fails, WSJ Pro Bankruptcy reported. Bayer is drawing up plans to try to resolve some of its mass lawsuits over Roundup through proceedings in Missouri state court, where a majority of them are pending. But given its past difficulties in ending the Roundup litigation in civil courts, the German drug and agriculture conglomerate is preparing as another option a bankruptcy filing covering the weedkiller’s U.S. manufacturer, Monsanto. READ MORE | | | | | SPONSORED CONTENTPrivate Credit and BSLs: Friends or Foes? With private credit and broadly syndicated loans (BSLs) competing for dominance, the lending landscape is in flux. But can these markets ultimately work hand in hand? SRS Acquiom, in partnership with Debtwire, surveyed 200 senior executives from alternative asset management firms across Europe and the U.S. to uncover the true dynamics of these two critical markets. Download the Report | | |  | | Editor's Picks | | | | | FTX Announces $5 Billion Second Distribution to Eligible Creditors
FTX Trading Ltd. and the FTX Recovery Trust announced yesterday that $5 billion is set for distribution to go to holders of allowed claims under the collapsed crypto exchange’s chapter 11 reorganization plan, Crypto.News reported. This second tranche of distributions will cover eligible creditors in both the Convenience and Non-Convenience Classes. However, disbursement is limited to FTX creditors who have completed the required pre-distribution processes. Eligible creditors will receive funds from their distribution provider – either Bitgo or Kraken – within one to three business days starting May 30, 2025. READ MORE | | Pioneering Chicago Music Streaming Service AccuRadio Files for Chapter 11 Protection
Chicago-based internet radio pioneer AccuRadio, which launched its free music streaming service in 2000, filed for chapter 11 protection on Wednesday amid an ongoing legal dispute over artist royalty payments, the Chicago Tribune reported. AccuRadio, a leading independent streaming service offering nearly 1,400 music channels, owes SoundExchange, the organization empowered by Congress to collect digital royalties for recording artists, more than $10 million, according to the bankruptcy filing. READ MORE | | CVS Bids for Rite Aid Stores, Patient Files in Pacific Northwest
CVS Health Corp. is trying to buy stores and patient data from Rite Aid Corp., the beleaguered pharmacy chain that is going out of business after filing for bankruptcy a second time earlier this month, Bloomberg News reported. Rite Aid has also received multiple bids on some of its pharmacy assets, such as patient data and inventory, from Walgreens Boots Alliance Inc., Albertsons Cos., Kroger Co., Giant Eagle Inc. and others, Rite Aid Chief Executive Officer Matthew Schroeder said. READ MORE
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July 24-27 | Amelia Island, Fla. | | | | |  | | Daily Roundup | | | | | Battery Recycler Li-Cycle Files for Bankruptcy Protection in Canada
Toronto-based lithium battery recycling firm Li-Cycle said on Wednesday that it has filed for bankruptcy protection in Canada and expects to start a formal sale for its business or assets, Reuters reported. The firm's U.S. units have also commenced chapter 15 proceedings in the U.S. Bankruptcy Court for the Southern District of New York. Li-Cycle has entered into a $10.5 million debtor-in-possession financing and a stalking-horse credit bid for at least $40 million with London-listed Glencore, its largest secured creditor. READ MORE | | AfterShock Comics Emerges from Chapter 11
AfterShock Comics is coming back from bankruptcy with a restructured operation and plans to pay its debts to creators and others in full and to resume publication of series that were interrupted, ICv2.com reported. AfterShock and its sister company, producer and distributor Rive Gauche Television, filed for chapter 11 protection in December 2022. Under the restructuring plan, the company will make partial payments on a number of claims immediately and continue to make payments until the debts are completely paid off. READ MORE | | Gast Monuments Files for Bankruptcy After Shutting Down Last Year for Repeated Complaints
Gast Monuments, a company once trusted for creating headstones, has filed for bankruptcy, CBS News Chicago reported. The century-old company shut down back in August after investigations started in 2023 after multiple families said that the company never delivered the headstones they paid for. Some of those headstones were seen sitting in plain sight at one of Gast Monuments' three former locations. READ MORE | | SEC Investigating Whether Coinbase Misstated Its User Numbers
Not long after President Trump took office, Coinbase, the largest U.S. cryptocurrency exchange, got some good news: The Securities and Exchange Commission was dropping a lawsuit that had accused the company of illegally marketing digital currencies to the public. But that case might not be the end of the company’s legal troubles, the New York Times reported. The SEC has also been investigating whether Coinbase misstated its user numbers in past disclosures — an inquiry that began during the Biden administration and has continued under Trump. READ MORE | | Lummis Believes Senators Have Reached Deal on Stablecoin Bill, Expects Votes Next Week
Sen. Cynthia Lummis (R-Wyo.) said yesterday that she believes senators have reached an agreement on “final language” for Senate stablecoin legislation and expects the bill to head to the floor next week, The Hill reported. She described the recent changes to the GENIUS Act, which would create a regulatory framework for payment stablecoins, as “very detail-oriented as opposed to major changes.” Senate Majority Leader John Thune teed up the GENIUS Act for a procedural vote next week shortly after Lummis expressed confidence in the bill’s progress. READ MORE | | | | |
