What we read this week [February 25, 2022] – Insolvency/Bankruptcy/Restructuring
United States: What we read this week [February 25, 2022]
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Companies are facing rising costs as supply chain issues continue to disrupt the economy, according to Reuters. Businesses have struggled to keep up with demand for consumer goods, which has soared during the pandemic. Costs include rising raw material prices due to the shutdown of factory production and backlogs of ships waiting to unload cargo at US ports. In addition, employers must also consider wage increases to attract and retain talent to ensure goods are produced and delivered as quickly as possible, as labor shortages further exacerbate the supply chain crisis. supply. [Reuters; Feb. 25,
Yahoo Finance reports that the Federal Reserve suggested raising interest rates in its semi-annual report to Congress, which was released on Friday. Citing a “strong” US labor market, the Fed plans to raise rates at its March 15 meeting to counter high inflation. The Fed report also noted that the drop in interest rates to near zero at the start of the pandemic contributed to higher prices for riskier securities. [Yahoo
Finance; Feb. 25, 2022]
According to Law360, Disney is once again battling a copyright infringement lawsuit from writer Jeffrey Scott, who claims the entertainment company stole his idea for a ‘Muppet Babies’ spin-off during from his 2018 reboot of the popular 1980s children’s show. Scott previously sued Disney in October 2020, alleging that Disney, which acquired Marvel Productions, breached its production agreement with the creator of Marvel and Muppets , Jim Henson, by not paying him royalties and fees while employing his ideas for the reboot. The federal district judge in that case dismissed the suit, ruling that Scott lacked standing because the debts were an asset of his bankruptcy. The Chapter 7 trustee in Scott’s bankruptcy case revived the copyright infringement lawsuit, filing a lawsuit on behalf of the bankruptcy estate in California federal court last Friday. [Law360; Feb. 22,
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