Good day. Construction startup Katerra filed for bankruptcy, following more than $2 billion in investment from SoftBank Group's $100 billion Vision Fund and the collapse of another SoftBank-backed company, the lender Greensill Capital, which has made hundreds of millions of dollars in loans to Katerra.

Elsewhere in bankruptcy court, Castex Energy units wrapped up their bankruptcy case, and Credit Suisse is looking back on how its dealings with Archegos Capital Management went so wrong.

Construction startup Katerra Inc.—one of the bigger investments in SoftBank Group Corp.’s $100 billion Vision Fund—filed for bankruptcy protection in the U.S. after attempts to shore up its finances floundered. Read More.

Affiliates of Castex Energy, a bankrupt oil-and-gas production company that focused on exploration and development in Louisiana and the Gulf of Mexico, won court approval Monday to shut down the business after unloading its operating assets. Read More.

Credit Suisse is picking over what went so badly wrong in its dealings with Bill Hwang's Archegos Capital Management. A preliminary conclusion is emerging: the bank's creaky risk-management systems didn’t do their job. Read More.

Regardless of how they are calculated, losses are mounting and would increase further if the Biden administration moves to forgive some borrowers’ student debt outright, as congressional Democratic leaders have urged him to do. Read More.

MicroStrategy Inc. is borrowing $400 million in junk bonds to buy more bitcoins. Unlike the company’s existing notes, which convert into stock, investors in the new issue won’t benefit from appreciation in MicroStrategy’s digital asset portfolio. But they will have the actual business as collateral. Read More.

Bankrupt hotel owner Eagle Hospitality Real Estate Investment Trust plans to turn over the keys to the Queen Mary, a lodging facility aboard a retired 1930s ocean liner, as part of its chapter 11 restructuring.

The city of Long Beach, Calif., said Friday it is the first time in more than 40 years that the local government will take full control of the ship, which is permanently docked and is said to be in need of tens of millions of dollars in repairs. Eagle Hospitality, which filed for bankruptcy in January, has found buyers for its 14 other hotels. -- Becky Yerak

Defunct subscription service MoviePass won’t have to pay users for exposing their personal information, or for quietly blocking them from using the movie ticket service’s “one ticket per day” feature. The now-bankrupt company settled with the Federal Trade Commission on Tuesday over allegations that it failed to secure users’ personal information and misled them about the company’s subscription offerings. (CyberScoop)

Food services and drinking places gained 186,000 jobs in May, according to the U.S. Bureau of Labor Statistics, an increase from the 167,500 jobs the industry added in April. (Restaurant Dive)

AMC Entertainment has learned its lesson from the meme winter, and is determined to use the meme summer to its advantage. That's the lesson from last week's wild action in AMC stock, much of which was orchestrated by the company itself. (Axios)

Bankrupt TECT Aerospace Group Holdings will proceed with an auction to sell its headquarters and manufacturing facilities in Kansas, despite lender Boeing Co.'s refusal to back the opening bid. (Bloomberg Law)

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. 

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