Good day. Many Hollywood executives and analysts believed the U.S. movie-theater industry was poised for a correction even before the pandemic struck. Yet AMC Holdings Entertainment is on track to run out of money by year-end without a capital infusion or an easing of pandemic restrictions.

The Manhattan residence of exiled Chinese businessman Guo Wengui has been placed under bankruptcy protection, an outgrowth of a commercial dispute with an investment fund. And the growing use of special-purpose acquisition companies reached the restructuring universe when educational-technology company Skillsoft announced a deal to go public via a blank-check company, months after emerging from chapter 11.

The world’s largest movie-theater company may run out of cash by year’s end if it doesn’t raise additional funds or get more people back to theaters following pandemic shutdowns that have disrupted businesses dependent on consumers gathering in public spaces. Read More.

AMC Chief Executive Adam Aron spoke to WSJ Pro Bankruptcy by phone, discussing the impact of the coronavirus and the ongoing restrictions on theater showings in New York state. Read More.

A palatial Manhattan residence occupied for years by exiled Chinese businessman Guo Wengui has been put under bankruptcy protection amid a legal dispute over the multimillion-dollar apartment on the 18th floor of the Sherry-Netherland Hotel. Read More.

Educational-technology company Skillsoft is going public through an acquisition by blank-check company Churchill Capital Corp II , in a transaction valued at about $1.3 billion, after Skillsoft emerged from chapter 11 bankruptcy and financial restructuring in August. Read More.

Senate Majority Leader Mitch McConnell (R., Ky.) said the Senate would vote on a narrow coronavirus relief bill next week, setting up a potential showdown with Democrats who have pushed for an agreement on a broader aid package. Read More.

Quaterly results at JPMorgan Chase and Citigroup were boosted because they didn’t have to put aside as much money to cover future loan losses. But executives said they haven’t yet changed their views that significant losses are looming in the future. Read More.

Delta Air Lines Inc. offered cautious optimism that demand for travel is starting to return but said its losses were mounting, as the coronavirus pandemic looks likely to continue weighing on travel for years. Read More.

Huge government spending and other steps to boost coronavirus-stricken economies have limited immediate risks to global financial stability while fueling a debt buildup that could spell trouble later, the International Monetary Fund said Tuesday.

Companies that borrowed heavily at low interest rates to cope with the crisis may have trouble paying their debts, the report said, increasing the risk of bankruptcies. Read More.

Mexico's flagship airline, Grupo Aeromexico SAB, won final court approval of a revised $1 billion bankruptcy-financing package after getting a preliminary nod in August. 

Under the deal, Apollo Global Management Inc. affiliates and some of the airline's bondholders could end up with a stake of as much as 49% in the airline by converting all or part of $800 million in bankruptcy loans into equity.

Final approval was held up for weeks as Apollo wrestled with bondholders over whether the New York investment firm could force them to take equity instead of cash when Aeromexico leaves bankruptcy.

Apollo had "drag-along" rights in the original deal, meaning that if the firm chose equity, bondholders were required to take their bankruptcy financing payoff in the form of equity as well. Revised terms allow bondholders to decide for themselves whether to choose equity or cash. — Peg Brickley

Ascena Retail Group Inc., the parent company of Ann Taylor and Lane Bryant, plans to sell its tween chain Justice out of bankruptcy as part of a plan to turn the brand into an online-only retailer.

The company has reached a deal for Premier Brands Justice LLC to serve as the lead bidder, or stalking horse, for the sale of the intellectual property, e-commerce business and other assets of the Justice brand.

Ascena, which filed for chapter 11 in July, has said it would cut its retail locations to about 1,300 from its initial count of about 2,800, including closing most or all 800 Justice stores. — Aisha Al-Muslim

PG&E Corp. is awaiting the outcome of a fight with Elliott Management Corp. and other bondholders that believe California's largest utility didn't work hard enough to get them a piece of a lucrative equity deal.

Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco heard arguments in the case Tuesday.

Bondholders tried and failed to take over PG&E during a chapter 11 case that was driven by lawsuits from wildfire victims in 2017 and 2018. Now, as the San Francisco-based company faces the threat of new wildfire damage claims, Elliott and other bondholders are seeking $250 million in damages from PG&E.

The demand is absurd, PG&E lawyer Richard Slack said at Tuesday's hearing. The company said language in its approved chapter 11 plan bars the bondholders' claims. They said the provisions don't apply to their claims. — Peg Brickley

The bankrupt owner of long-running Black cultural magazines Ebony and Jet received the go-ahead from a Texas bankruptcy judge to put itself up for sale with a $14 million stalking horse bid. Prospective buyers of Ebony Media Operations will have until Dec. 7 to submit a higher bid for the company than the offer made by Bridgeman Sports and Media LLC at the beginning of September. (Law 360)

Oil driller California Resources won court approval for a reorganization plan to slash more than $5 billion debt in exchange for handing ownership to creditors. (Bloomberg)

Bankruptcies in the North American energy industry surged in the third quarter as companies struggled with weak fuel demand due to the COVID-19 pandemic, lower crude prices and a dearth of available credit, according to law firm Haynes and Boone. (Reuters)

J.C. Penney is attracting new national brands to get ready for a holiday shopping season, even with its bankruptcy exit still not final. Penney’s new brands are mostly in its home department, which is where Americans have been spending money during the Covid-19 pandemic. (The Dallas Morning News)

Share your tips, suggestions and feedback with the WSJ Pro Bankruptcy team: Aisha Al-Muslim; Soma Biswas; Peg Brickley; Alexander Gladstone; Jonathan Randles; Andrew Scurria; Becky Yerak. 

Follow us on Twitter: @AishaAlMuslim; @SomaBisWSJ; @gladstonea; @Sparkyrandles; @AndrewScurria; @Beckyyerak.