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Reorg Radio
Reorg Radio Americas: Banking Instability, Bed Bath & Beyond, Exela, Carvana, Lumen
Apr 3, 2023
13:04
Snipd AI
This podcast discusses the ongoing banking instability, potential bankruptcy of Bed Bath & Beyond, and difficulties faced by companies like Exela, Carvana, and Lumen. It provides updates on various financial transactions and activities of companies, including stock offerings, debt exchanges, and litigation wins. Legal and financial matters are also discussed, including court considerations, a Chapter 11 filing, and updates on restructuring and legal cases. The podcast concludes with discussions on debt reduction plans, settlements, and court hearings.
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Quick takeaways
- Recent failures and takeovers of Silicon Valley Bank and Sinutra Bank highlight deficiencies in governance and controls.
- Bed Bath & Beyond, Lumen Technology, Smiled Direct Club, Carvana, and ATHLETA are exploring various measures, including debt exchanges and equity offerings, to address their financial situations.
Deep dives
Banking instability and regulatory response
The recent failures and takeover of Silicon Valley Bank and Sinutra Bank by the FDIC were discussed in hearings held by the Senate Banking Committee and the House Financial Services Committee. SPP and its holding company, SWE Financial Group, were deemed not well-managed. Supervisors rated SPP's governance and controls as deficient starting in the summer of 2022.
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Discover
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