Core Scientific bondholders in talks with lawyers to advise on possible bankruptcy

2022/11/01 20:25

A group of convertible bondholders at Core Scientific (CORZ) is in talks with Paul Hastings' restructuring lawyers to advise on a possible bankruptcy, according to Bloomberg, citing people familiar with the matter, the report said without specifying the names of the bondholders. As previously reported, the company said last week it was exploring strategic alternatives to raise capital and warned that bankruptcy could be an option, and it has hired Weil, Gotshal & Manges LLP as legal counsel and PJT Partners LP as financial adviser.

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