Category: bankruptcy
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EV startup Fisker’s U.S. units file for bankruptcy By Reuters
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(Reuters) – Electric vehicle startup Fisker, which filed for Chapter 11 protection earlier this week, said its U.S. units also filed for bankruptcy in a Delaware court on Wednesday. Fisker Inc (OTC:) and its other US subsidiaries said they have entered Chapter 11, adding that discussions about selling assets are…
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Senator blasts ‘gross financial mismanagement’ at hospital chain that filed for bankruptcy
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A group of Democratic members of Congress, led by Sen. Edward Markey of Massachusetts, is seeking reassurances that workers at hospitals owned by Steward Health Care will have access to protected health care and retirement benefits. Steward said last month he plans to do so Selling all its hospitals After…
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Senator blasts ‘gross financial mismanagement’ at hospital chain that filed for bankruptcy
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A group of Democratic members of Congress, led by Sen. Edward Markey of Massachusetts, is seeking reassurances that workers at hospitals owned by Steward Health Care will have access to protected health care and retirement benefits. Steward said last month he plans to do so Selling all its hospitals After…
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Co-living trailblazer Common Living’s bankruptcy highlights uncertain future for the model
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Common Living, founded in Brooklyn in 2015, was one of the first companies to pioneer a new venture in residential property management: Instead of renting entire units, rooms would be rented to individuals. Utility, Wi-Fi and cleaning costs will be bundled with the rent, and apartments will be fully furnished.…
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FTX Creditors Filed an Objection against Bankruptcy Reorganization Plan
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A group of creditors of the now-collapsed FTX have moved to court, objecting to the cryptocurrency exchange’s bankruptcy reorganization plan, which would pay unsecured creditors the full amount of their claims, if not more. Formal objection from FTX creditors A group led by Sunil Kavori, one of FTX’s creditors, filed…
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FTX Creditors Rejected Bankruptcy Reorganization Plan
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Creditors of bankrupt cryptocurrency exchange FTX have filed an objection to the platform’s proposed reorganization plan, citing its failure to meet certain requirements of the bankruptcy code. according to tweet By FTX creditor activist Sunil Kavori, the objection argues that the reorganization plan ignores equity issues, does not meet the…
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Sandy Hook families agree to Alex Jones’ bankruptcy liquidation By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – Families of Sandy Hook massacre victims declared victory in Alex Jones’ bankruptcy case on Friday, accepting the conspiracy theorist’s proposal to sell his assets, including InfoWars, to pay part of their legal judgments over his lies about the events of 2012. Shooting…
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Gemini customers get back over $2 billion in crypto from Genesis bankruptcy By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – Bankrupt cryptocurrency bank Genesis and cryptocurrency exchange Gemini have returned more than $2 billion in cryptocurrencies to 232,000 retail customers in their jointly managed Gemini Earn program, giving customers a 242% return on assets locked since January 2023, they said. Gemini reported…
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FTX Customers Express Frustration Despite 118% Payouts In Bankruptcy Case—Here’s Why
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Clients of defunct cryptocurrency exchange FTX find themselves at the center of a complex bankruptcy case with potentially promising outcomes. Although the process has never been smooth, the recent rise in the cryptocurrency market has boosted the value of FTX assets, resulting in clients being able to receive payouts that…