Category: bankruptcy
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FTX’s bankruptcy fees costliest since Lehman Brothers
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Bread path links finance Coded The high cost of FTX bankruptcy comes amid a fixed increase in the cost of legal services and other professional services The author of the article: Bloomberg News Jonathan Randles It was published on February 26, 2025 • 3 minutes read You can save this…
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Electric-truck maker Nikola nears bankruptcy filing, WSJ reports
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The Wall Street Journal reported on Thursday that the electric truck manufacturer Nicolas is close to providing bankruptcy, The shares of the company decreased by 20 % to 60 cents in extended trading. Arizona -based Nicolas were working with the law firm Bilsbury Winthrov Shu Bitman to explore options, including…
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Company linked to Alex Jones doubles offer to buy Infowars after failed bankruptcy auction
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Breadcrumb links PMN BMN Business Article writer: Associated Press Dave Collins Posted on January 13, 2025 • 3 minutes read You can save this article by registering for free here. Or log in if you have an account. FILE – Alex Jones speaks to the media after arriving at federal…
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FTX filed for bankruptcy 2 years ago — What’s happening now?
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On November 11, 2022, FTX’s then-CEO Sam Bankman-Fried resigned, handing the reins of the company to John Ray, who immediately filed for Chapter 11 bankruptcy protection in the United States. This day marked the beginning of the end for what was once one of the most prominent and influential cryptocurrency…
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J&J talc bankruptcy stays in Texas despite ‘forum-shopping’ opposition By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – Johnson & Johnson’s (NYSE:) subsidiary can pursue its third attempt to resolve tens of thousands of lawsuits alleging that its talc products cause cancer in federal bankruptcy court in Texas, a judge ruled on Thursday, allowing the company… To avoid the place…
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J&J talc bankruptcy stays in Texas despite ‘forum-shopping’ opposition By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – Johnson & Johnson’s (NYSE:) subsidiary can pursue its third attempt to resolve tens of thousands of lawsuits alleging that its talc products cause cancer in federal bankruptcy court in Texas, a judge ruled on Thursday, allowing the company… To avoid the place…
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FTX cleared to repay billions to customers after bankruptcy plan approval By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – FTX received court approval for its bankruptcy plan on Monday, which will allow it to repay customers in full using up to $16.5 billion in assets recovered since the collapse of the once-leading cryptocurrency exchange. U.S. Bankruptcy Judge John Dorsey approved the…
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Spirit Airlines in talks with bondholders over terms of potential bankruptcy filing, WSJ reports By Reuters
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(Reuters) – Spirit Airlines is in talks with bondholders about the terms of a potential bankruptcy filing in the wake of its failed merger with JetBlue Airways (NASDAQ:), the Wall Street Journal reported on Thursday, citing people familiar with the matter. Spirit shares fell 18% in after-market trading. Spirit Airlines…
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Delaware bankruptcy court says Yellow owes pensions, stock drops 90%
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Yellow shares fell 90% Friday afternoon following a Delaware court ruling on its pension obligations. (Photo: Jim Allen/FreightWaves) A Delaware bankruptcy court offered some clarity late Friday on the $6.5 billion in liability claims against Yellow Corp., but the total amount the incomplete bankrupt company will pay remains undetermined. The…
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Big Lots sells business to Nexus Capital as it begins bankruptcy proceedings By Reuters
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Big Lots Inc., a U.S. discount home goods retailer, said Monday it has secured $707.5 million to shore up its operations and sold its business to private equity firm Nexus Capital as it begins Chapter 11 bankruptcy proceedings. Big Lots listed its assets and liabilities in the range of $1…
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Latest failure: firm bidding to produce power from Fundy tides files for bankruptcy
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Breadcrumbs Path Links BMW PMN Business Article author: Canadian Press Michael Totton Published on September 5, 2024 • Read for 3 minutes You can save this article by registering for free here. Or log in if you have an account. A large tidal power turbine built for Nova Scotia Power…
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US pharmacy chain Rite Aid to operate as a private company as it emerges from bankruptcy By Reuters
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(Reuters) – U.S. drugstore chain Rite Aid said on Tuesday it will operate as a private company after successfully completing its financial restructuring and emerging from Chapter 11 bankruptcy. The pharmacy used its bankruptcy to close hundreds of stores, sell its Elixir pharmaceutical benefits business, and negotiate settlements with its…
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SEC criticized for dubious stablecoin stance in FTX bankruptcy
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The SEC is facing criticism for its recent bankruptcy filing for FTX, echoing its controversial approach in the Voyager case. Recently Submit filesThe US Securities and Exchange Commission has warned FTX that it may oppose plans to repay creditors using stablecoins or other digital assets, citing potential legal concerns. This…
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Celsius Bankruptcy Admin Distributes $2.5B To Creditors
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Celsius Network, a bankrupt crypto lender, has completed payments to two-thirds of its creditors despite challenges in the distribution process. In its first report, the entity responsible for the plan explained the status of the distribution plan and the next steps in the repayment process. Celsius distribution plan targets 375,000…
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Celsius Bankruptcy Admin Distributes $2.5B To Creditors
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Celsius Network, a bankrupt crypto lender, has completed payments to two-thirds of its creditors despite challenges in the distribution process. In its first report, the entity responsible for the plan explained the status of the distribution plan and the next steps in the repayment process. Celsius distribution plan targets 375,000…
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Silicon Valley Bank’s former parent secures approval to end bankruptcy
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Justin Sullivan/Getty Images News SVB Financial Group (OTC:SIVBQ), the former parent company of failed Silicon Valley Bank, received permission from a U.S. judge on Friday to distribute its assets to its creditors and close its bankruptcy, Reuters reported. According to the report, the bankruptcy plan includes: Provides for the establishment…
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Silicon Valley Bank’s former owner gains approval to end bankruptcy By Reuters
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By Dietrich Knuth NEW YORK (Reuters) – SVB Financial Group, the former owner of failed Silicon Valley Bank, received permission from a U.S. judge on Friday to hand over its assets to creditors and end its bankruptcy. Its bankruptcy restructuring allowed it to create a fund to continue litigation against…
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Genesis concludes bankruptcy with $4b creditor payout
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Genesis Global and its subsidiaries have begun making $4 billion in payments to creditors after completing the restructuring process. According to a statement released on August 2, crypto lending company Genesis Global I started Paying off debts of more than 100,000 creditors after declaring bankruptcy in January 2023. Recovery rates…
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Conn’s may file for Chapter 11 bankruptcy – report
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Marti157900/iStock Editorial via Getty Images being (NASDAQ:Connecticut) may file for Chapter 11 bankruptcy in the coming weeks, as the furniture retailer grapples with losses and years of challenges integrating rival WS Badcock, which it acquired last year, people familiar with the matter told Bloomberg. The news pushed Kun (Kun)) Stock…
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Cancer victims lose bid to block proposed J&J talc bankruptcy By Reuters
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Written by Brendan Pearson (Reuters) – A federal judge on Friday rejected a group of cancer victims’ bid to block Johnson & Johnson from pursuing a proposed bankruptcy settlement of tens of thousands of lawsuits alleging that the company’s baby powder and other talc products contain cancer-causing asbestos. On June…