Good day. Another Chinese property firm is having trouble paying debt, a for-profit college chain filed for bankruptcy after facing a federal threat and Purdue Pharma's bankruptcy plan was put on hold.

Chinese developer Modern Land asks to delay bond repayment. Chinese property developer Modern Land (China) Co. asked investors for permission to defer repaying a $250 million bond due later this month, in the latest sign of the financial stress that has gripped China Evergrande Group and many of its rivals.

For-profit education chain Vista College files bankruptcy. Vista College, a private-equity-backed chain of for-profit business schools with campuses in three states, has filed for chapter 7 bankruptcy after shutting down operations.

Judge pauses Purdue Pharma settlement to preserve appellate challenge. A federal judge issued a temporary restraining order on Sunday pausing implementation of a $4.5 billion settlement between OxyContin maker Purdue Pharma LP and its Sackler family owners. U.S. District Judge Colleen McMahon said the order gives the Justice Department's bankruptcy unit and other state authorities opposing the deal the chance to overturn the settlement on appeal.

Government authorities have raised concerns that the legal doctrine of equitable mootness could defeat their appellate challenge even if higher courts might otherwise overturn the Sackler settlement. A bankruptcy judge approved the settlement last month, though Purdue has said it will take several weeks before the deal will actually take effect. — Jonathan Randles

Oil jumps above $80. Crude’s persistent rise in the face of those growth concerns shows the extent to which many traders expect weak supply to buoy prices, lifting fuel costs for consumers and businesses

California to investigate oil spill. California authorities are opening an investigation into the oil spill off its southern coast, state Attorney General Rob Bonta said, opening the door to possible civil or criminal action.

Chesapeake taps CFO to lead post-bankruptcy reset. Chesapeake Energy Corp. tapped its finance chief Domenic Dell'Osso Jr. to become its next CEO, months after the departure of its prior top exec, Doug Lawler. Mr. Dell'Osso had served as the shale-gas pioneer's CFO since 2010. Mr. Lawler's exit earlier this year had come two months after Chesapeake emerged from bankruptcy. Its chairman and interim CEO, Mike Wichterich, led the company to bet bigger on natural gas, with the $1.1 billion acquisition of Vine Energy.

Mr. Wichterich will become Chesapeake's executive chairman. Mr. Dell'Osso's annual pay targets environmental and safety performance, generating free cash flow and improving base production, the company said. — Collin Eaton

A California woman with more than $350,000 in student debt served as her own lawyer in personal bankruptcy and saw 98% of her loans discharged in the latest case in a growing trend. (Yahoo News)

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