#bankruptcy
FTX Bankruptcy Claims Soar in Value in Over-the-Counter Markets as Estate Recovers $7.3B - The expected payout to FTX creditors has reached 37 cents on the dollar, the highest sinc... - https://www.coindesk.com/markets/2023/09/28/ftx-bankruptcy-claims-soar-in-value-in-over-the-counter-markets-as-estate-recovers-73b/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #sambankman-fried #thomasbraziel #bankruptcy #matrixport #markets #news #ftx
Celsius valuation advisor approves value of debtors’ assets and liabilities - Stout Risius Ross, the valuation advisor for Celsius Network, con... - https://cointelegraph.com/news/celsius-network-advisor-approves-valuation-report #bankruptcy #celsius #newyork #court
Debtors’ Asset, Liability Valuation Approved by Celsius Advisor
Joel E. Cohen, a mathematician and biologist who represented the valuation advisor for Celsius Network, Stout Risius Ross, LLC, validated the accuracy of the fair value of certain debtors’ assets and liabilities as of May 31, 2023. After months of back-and-forth, the majority of Celsius creditors recently voted in favor of a proposal to return approximately $2 billion in… https://coinxposure.com/debtors-asset-liability-valuation-approved-by-celsius-advisor.html?utm_source=dlvr.it&utm_medium=mastodon #News #Bankruptcy #Business
#frump face #bankruptcy
https://www.newsweek.com/donald-trump-bankruptcy-michael-cohen-fraud-lawsuit-1830207
#TuckFrump
Tuck Tucker Farlson
Tuck Tox News
Celsius' Bankruptcy Nears End as Creditors Approve Reorganization Plan - Bankrupt crypto lender Celsius' creditors have voted to approve a plan that would return ... - https://www.coindesk.com/policy/2023/09/26/celsius-bankruptcy-nears-end-as-creditors-approve-reorganization-plan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #reorganization #alexmashinsky #regulations #bankruptcy #fahrenheit #celsius #policy #news
SEC raises concerns over Coinbase in objection to Celsius restructuring plan - Coinbase CEO Brian Armstrong and chief legal officer Paul Grewal ... - https://cointelegraph.com/news/sec-raises-concerns-over-coinbase-in-objection-to-celsius-restructuring-plan #regulation #bankruptcy #coinbase #celsius #sec
#Medicare FYI:
At our house, we have an #Etna plan.
In a nut shell:
Provider fees are jacked way way UP because insurers like Etna have negotiated EXTREMELY low reimbursements for medical services with providers.
Bottom line, we in the #USA are being totally ripped off...
Yes, we have the best poli- peeps $$ money can buy.
:(
Bill
#bankruptcy
FTX’s $157.3 Million Lawsuit Against Former Salameda Affiliates
According to court documents, defunct cryptocurrency exchange FTX filed a lawsuit on September 21 against former employees of Hong Kong-based company Salameda, which was previously affiliated with the FTX group. In its court filing, FTX claims that $157.3 million was fraudulently withdrawn in the hours preceding the exchange’s bankruptcy filing. Michael Burgess,… https://coinxposure.com/ftxs-157-3-million-lawsuit-against-former-salameda-affiliates.html?utm_source=dlvr.it&utm_medium=mastodon #cryptocurrencyexchange #News #Bankruptcy
FTX Bankruptcy Claims Surge as Investors See Value
The bankruptcy claims market has become increasingly bullish regarding the debts of the defunct cryptocurrency exchange FTX, as major credit investors have rushed to purchase FTX debts. Since the beginning of 2023, investors including Silver Point Capital, Diameter Capital Partners, and Attestor Capital have acquired more than $250 million worth of FTX debts, Bloomberg… https://coinxposure.com/ftx-bankruptcy-claims-surge-as-investors-see-value.html?utm_source=dlvr.it&utm_medium=mastodon #cryptocurrencyexchange #News #Bankruptcy
FTX opens lawsuit against former employees of Hong Kong affiliate - The bankrupt crypto exchange FTX has opened a lawsuit against for... - https://cointelegraph.com/news/ftx-lawsuit-against-former-employees-hong-kong-affiliate #cryptocurrencyexchange #bankruptcy #hongkong #ftx
Crypto’s Lehman moment: Investors buy $250M of FTX claims — Report - It’s hard to know how much a collapsed crypto firm like FTX would... - https://cointelegraph.com/news/crypto-debt-investors-buy-250m-ftx-claims #investments #bankruptcy #court #ftx
FTX Sues Former Employees of Hong Kong Affiliate, Seeks $157 Million - The bankrupt crypto exchange has sued former employees of Salameda, a Hong Kong-incorpora... - https://www.coindesk.com/business/2023/09/22/ftx-sues-former-employees-of-hong-kong-affiliate-seeks-157-million/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #sambankman-fried #ftxcollapse #bankruptcy #ftxgroup #hongkong #finance #topnews #news
@drahardja #Bankruptcy #BostonMarket
I thought that Boston Market already when out of business but apparently it hasn't quite yet.
It was however pretty good in its hey-day; the take out rotisserie chicken meal was a great value.
https://discontinuednews.com/is-boston-market-going-out-of-business/
Fluttershy is in financial ruin
#CryptoFail firm #FTX #Bankruptcy proceedings include filing #lawsuit vs #Stanford faculty member family of #incarcerated financial whiz kid #SBF for enriching themselves at trough of his #criminal #Creepto enterprise . #Lawsuit seeks to recover million$ for #victims from #parents who personally benefitted from son's particularly potent #Ponzi #Fraud
Mt. Gox Bitcoin repayment: The day that never comes - Over the last decade, Mt. Gox has repeatedly backtracked on plans... - https://cointelegraph.com/news/mt-gox-bitcoin-repayment-delay #bankruptcy #payments #mt.gox #hacks
#Cryptopredictions #assetprotection #bankruptcy Understanding Cryptocurrency Phishing Risks: Protecting Your Assets During Celsius Network’s Bankruptcy Proceedings: Creditors of the troubled crypto lender Celsius Network are facing an increased risk of phishing attacks as the lender's bankruptcy proceedings near their conclusion.
Reports on social media have indicated a rise in phishing attacks by scammers pretending to be Stretto, the bankruptcy services platform for… https://btcnews.biz/cryptop-redictions/understanding-cryptocurrency-phishing-risks-protecting-your-assets-during-celsius-network-s-bankruptcy-proceedings/?utm_source=dlvr.it&utm_medium=mastodon
Celsius creditors flag renewed phishing attacks ahead of bankruptcy plan - Creditors of crypto lender Celsius Network have reported receivin... - https://cointelegraph.com/news/crypto-lender-celsius-network-phishing-attacks-surge-ahead-bankruptcy-plan #bankruptcy #creditors #phishing #celsius #stretto #emails
Crypto Custodian Prime Trust Warns It May Lay Off 62 Employees, Nevada Records Show - The company filed for bankruptcy in August. - https://www.coindesk.com/business/2023/09/19/crypto-custodian-prime-trust-warns-it-may-lay-off-62-employees-nevada-records-show/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #primetrust #bankruptcy #finance #layoffs #news
#Cryptocurrencies #bankruptcy #Bitcoin #buyoutoffer #court Hodlnaut’s Administrators Reject OPNX’s Buyout Offer Due to Value Decline in Settlement Token: The interim judicial managers overseeing the affairs of Hodlnaut, the collapsed cryptocurrency lender, have reportedly turned down a recent buyout offer, primarily due to a substantial decline in the settlement token's value. Hodlnaut administrators have expressed reservations about the acquisition conditions proposed… https://btcnews.biz/cryptocurrencies/hodlnaut-s-administrators-reject-opnx-s-buyout-offer-due-to-value-decline-in-settlement-token/?utm_source=dlvr.it&utm_medium=mastodon
OPNX’s $30M Hodlnaut bid rejected as FLEX token plummets 90%: Report - The interim judicial managers of Hodlnaut argued that the $30 mil... - https://cointelegraph.com/news/30-million-hodlnaut-bid-by-opnx-rejected #bankruptcy #lending #court
I am interested in learning more about the possibility of #bankruptcy in #BirminghamUK .
Bittrex Exchange Bankruptcy: Customers Leaving Money Behind – Here's the Latest - The majority of Bittrex US customers are leaving money behind by failing to claim their a... - https://cryptonews.com/news/bittrex-exchange-bankruptcy-customers-leaving-money-behind-heres-latest.htm #altcoinnews #bankruptcy #bittrex
Meanwhile…
Huge realtor files for bankruptcy with $335b in unpaid bills after defaulting
#China #bankruptcy #economy
https://www.the-sun.com/money/9108323/china-bankruptcy-housing-real-estate-market-economy-crisis-evergrande/
Metroland Media shifts to digital, ending 3 decades of Barrie Advance print edition | CTV News https://bit.ly/3Plwfs7 #Barrie #Metroland #BarrieAdvance #SimcoeDotCom #Bankruptcy #onpoli @barrie @onpoli
https://buff.ly/484x5SE DCAC helped a #Chapter13 #Trustee move their systems to #Azure.
The #Trustees work with people going through the #Bankruptcy process.
As part of the #cloud #migration, DCAC was able to help the trustee increase efficiency and decrease costs.
https://jezebel.com/alex-jones-said-hes-too-broke-to-pay-sandy-hook-familie-1850842200
If #AlexJones keeps this up, he may be going to prison for #Bankruptcy #Fraud
Gemini Blasts DCG and Genesis Bankruptcy Plan, Calling It ‘Misleading at Best’ - - https://www.coindesk.com/policy/2023/09/15/gemini-blasts-dcg-and-genesis-bankruptcy-plan-calling-it-misleading-at-best/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #digitalcurrencygroup #regulations #bankruptcy #genesis #policy #gemini #news
Jezebel: Sex. Celebrity. Politics. With Teeth: Alex Jones Said He's Too Broke to Pay Sandy Hook Families, Then Spent $93,000 on Himself https://jezebel.com/alex-jones-said-hes-too-broke-to-pay-sandy-hook-familie-1850842200 #Jezebel #sandyhookelementaryschoolshooting #americanpeopleofgermandescent #gunpoliticsintheunitedstates #lexluthorinothermedia #freespeechsystems #christophermattei #alexjonessaidhe #businessfinance #erikawulffjones #bankruptcy #alexjones #sandyhook #lexluthor #infowars
Celsius, Core Scientific Resolve Acrimonious Mining Dispute With $45M Deal - Celsius had previously claimed hundreds of millions in damages in a squabble over unpaid ... - https://www.coindesk.com/policy/2023/09/15/celsius-core-scientific-resolve-acrimonious-mining-dispute-with-45m-deal/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #corescientific #regulations #bankruptcy #celsius #policy #mining #news
Solana traders prepare for FTX-induced sell pressure on SOL — Is it premature? - Crypto traders are talking about SOL price falling due to the ris... - https://cointelegraph.com/news/solana-traders-prepare-for-ftx-induced-sell-pressure-on-sol-is-it-premature #sambankman-fried #priceanalysis #derivatives #bankruptcy #solana #ftx
Genesis announces winding down of crypto trading services - In January, Genesis Global Capital announced it would eliminate i... - https://cointelegraph.com/news/genesis-winding-down-crypto-trading-services #digitalcurrencygroup #unitedstates #bankruptcy #business #genesis #lending
FTX Approved to Sell $3.4B in Crypto; Tron’s Justin Sun, DWF Labs Consider Buying Cache - The bankrupt crypto exchange FTX received permission to sell its crypto assets val... - https://news.bitcoin.com/ftx-approved-to-sell-3-4b-in-crypto-trons-justin-sun-dwf-labs-consider-buying-cache/ #over-the-counter #cryptoecosystem #cryptoexchange #digitalassets #liquidation #bankruptcy #custodian #justinsun #approval #ftxcache #dwflabs #assets #$3.4b #bitgo #news #sale #tron #ftx
Court approves sale of FTX digital assets - Assets will be sold off weekly, with special handling for BTC, ET... - https://cointelegraph.com/news/court-approves-sale-ftx-digital-assets #bankruptcy #ftx
Judge Allows Bankrupt FTX to Sell Its Crypto Holdings, Including BTC and SOL - Crypto exchange FTX can sell and invest its crypto holdings to pay back creditors, a judg... - https://www.coindesk.com/policy/2023/09/13/judge-allows-bankrupt-ftx-to-sell-its-crypto-holdings-including-btc-and-sol/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #sambankman-fried #ftxcollapse #bankruptcy #policy #news #ftx
Surprisingly Few U.S. Customers Want Their Bittrex Money Back - The U.S. Secret Service kept millions on the exchange, company lawyers told a bankruptcy ... - https://www.coindesk.com/policy/2023/09/13/surprisingly-few-us-customers-want-their-bittrex-money-back/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #regulations #bankruptcy #bittrex #policy #news
#MichaelGove’s #LocalCouncil warns of #bankruptcy risk after failed #ToryInvestments
New #LibDem leadership in #SurreyHeath attacks previous #Conservative regime for racking up debts worth £165m
https://www.theguardian.com/business/2023/sep/13/michael-goves-local-council-warns-of-bankruptcy-risk-after-failed-tory-investments #ToryPoliciesInAction #LocalGovernment #ToryIncompetence #ToryFailure
Gemini Earn users could recover all funds in new DCG remuneration scheme - DCG suggests a new deal in Genesis bankruptcy, offering unsecured... - https://cointelegraph.com/news/gemini-earn-users-recover-all-funds-dcg-remuneration #digitalcurrencygroup #bankruptcy
Beleaguered Gemini Earn Customers Will Be Made ‘Nearly Whole,’ DCG and Genesis Say About Remuneration Plan - A filing on Tuesday states that if the assorted creditor groups vote through the proposed... - https://www.coindesk.com/business/2023/09/13/beleaguered-gemini-earn-customers-will-be-made-nearly-whole-dcg-and-genesis-say-about-remuneration-plan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #bankruptcy #finance #genesis #gemini #news #dcg
Thinking about how the #us was among the last countries to adopt the notion of #bankruptcy mostly due to “moral concerns” America always having cultivated a peculiar set of ideas about debt. And so the idea that one could throw up one’s hands renege on all debts and at some stiff price start over seemed…evil.
But then we turn around and hand the highest profile position of power to a serial & strategic bankrupter. (even as we roll up the paths to more modest forms of bankruptcy for the poor)
FTX Tweaks Crypto Sale Proposal to Placate U.S. Government - The bankrupt crypto exchange wants to sell off its billions of dollars in crypto before r... - https://www.coindesk.com/policy/2023/09/13/ftx-tweaks-crypto-sale-proposal-to-placate-us-government/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #regulations #bankruptcy #policy #news #ftx
Bitcoin derivatives data suggests BTC price holds the current range - BTC investor sentiment turns increasingly bullish after this week... - https://cointelegraph.com/news/bitcoin-derivatives-data-suggests-btc-holds-current-range #bankruptcy #contango #markets #macro #skew #gbtc #dcg
McCarthy calling for impeachment has such complete Michael Scott "I DECLARE BANKRUPTCY!" energy.
Former Celsius CEO Mashinsky seeks dismissal of FTC case - Former Celsius CEO is currently out on bail facing multiple charg... - https://cointelegraph.com/news/former-celsius-ceo-mashinsky-seeks-dismissal-ftc-case #cryptocurrencies #bankruptcy #celsius #lending
FTX Estate Controls $1.1B in Solana and $560M in Bitcoin Amid Bankruptcy Revelations - The FTX estate, currently overseeing the bankruptcy and restructuring of the once-... - https://news.bitcoin.com/ftx-estate-controls-1-1b-in-solana-and-560m-in-bitcoin-amid-bankruptcy-revelations/ #grayscalebitcointrust #illiquidcryptoassets #bahamianrealestate #ventureinvestments #diverseportfolio #blackrockequity #digitalassets #restructuring #courtfiling #bankruptcy #securities #anthropic #ftxestate
3M has agreed to pay $6 billion to resolve hundreds of thousands of lawsuits alleging it sold defective earplugs to the U.S. military that led to hearing damage for combat troops. https://www.japantimes.co.jp/business/2023/08/30/3m-settles-military-earplug-lawsuits/?utm_content=buffer710c6&utm_medium=social&utm_source=mastodon&utm_campaign=bffmstdn #business #3m #us #hearing #usmilitary #defense #bankruptcy
#Cryptolibrary #bankruptcy #cryptolending #cryptocurrencyindustry Digital Currency Group’s Debt Resolution Paves the Way for Crypto Lender Genesis: Digital Currency Group (DCG), a prominent venture capital firm in the cryptocurrency industry, has taken a significant step toward resolving the debt issues of its crypto lending subsidiary, Genesis.
Agreement in Principle
An agreement in principle has been reached between DCG, debtors, and creditors, as outlined in a… https://btcnews.biz/cryptolibrary/digital-currency-group-s-debt-resolution-paves-the-way-for-crypto-lender-genesis/?utm_source=dlvr.it&utm_medium=mastodon
#bankruptcy hearings for Santa Barbara News Press. #SantaBarbara #journalism https://www.independent.com/2023/09/08/santa-barbara-news-press-owner-wendy-mccaw-questioned-during-bankruptcy-proceedings/
#Cryptocurrencies #bankruptcy #Business #Celsius #court Celsius Network files ‘adversary complaint’ against EquitiesFirst: Bankrupt crypto lender Celsius Network has filed a complaint against lending firm EquitiesFirst Holdings in a bid to recoup assets.
According to a sealed adversary complaint filed on Sept. 6, Celsius is seeking injunctive relief and a declaratory judgment associated with the "recovery of money/property" — according to the title of the docket.… https://btcnews.biz/cryptocurrencies/celsius-network-files-adversary-complaint-against-equitiesfirst/?utm_source=dlvr.it&utm_medium=mastodon
#Cryptocurrencies #bankruptcy #Business #DigitalCurrencyGroup Genesis sues parent company DCG, other affiliate for $600M in overdue loans: Bankrupt cryptocurrency lender Genesis Global Capital (GGC) filed two suits on Sept. 6 seeking the repayment of overdue loans from affiliated companies. The loans are worth over $600 million in total.
GGC filed the complaints against Digital Currency Group (DCG) and DCG International Investments (DCIG) in the Southern District of… https://btcnews.biz/cryptocurrencies/genesis-sues-parent-company-dcg-other-affiliate-for-600m-in-overdue-loans/?utm_source=dlvr.it&utm_medium=mastodon
Is there some kind of Guinness Record for the most councils to go bust under one Govt? Asking for us all... #birminghamcity #section114 #bankruptcy #costofgreed
https://www.bbc.co.uk/news/uk-england-stoke-staffordshire-66708263.amp
https://buff.ly/45qD3LR DCAC worked with National Data Center to move their services to #Azure.
NDC consolidates bankruptcy data from across the US, providing a cost-effective method to manage #Chapter13 #bankruptcy claims for families across the United States.
Read about how we reduced hosting costs and increased #security.
3M Co. has tentatively agreed to pay more than $5.5 billion to resolve over 300,000 lawsuits claiming it sold the U.S. military defective combat earplugs. https://www.japantimes.co.jp/business/2023/08/29/companies/3m-pay-5-billion-combat-earplugs/?utm_content=bufferfd64c&utm_medium=social&utm_source=mastodon&utm_campaign=bffmstdn #business #companies #3m #us #hearing #usmilitary #defenseprocurement #bankruptcy
#Cryptocurrencies #bankruptcy #Business #cryptocurrencyexchange US-based Genesis Global Trading will eliminate its crypto spot trading service: Genesis Global Trading (GGT) will close down its cryptocurrency spot trading service on Sept. 18, according to press reports. GGT is affiliated with the Digital Currency Group (DCG), but it was not affected when the parent company’s crypto lender, Genesis Global Capital, declared bankruptcy in January.
@mookie #Bankruptcy #casestudy
Musk's "ownership" of Twitter is going to be a case study of how to drive a perfectly "good" (although not that profitable) business to begin with into bankruptcy in every business school from now on.
The ways to avoid those problems are obvious, even to those of us who never went to business school, but Musk seems hell-bent on intentionally doing everything possible to run Twitter straight into the ground.
Why, is the $44 Billion question?
Of course, most of that $ wasn't his but he has at least $4B of his own $ at stake which (if reports that he's worth $200B are true) would be a pittance to him but that's still a lot of f*cking $$$$..
If he burns his "investors" this time, good luck getting financing on any future deals and I'm actully surprised that his "investors" haven't taken action to depose him as the CEO of Twitter and take over operations from him, since he's obviously intent on making their "investment" worthless. 🤷♂️
Breaking #News: #UK' City of #Birmingham Declares #Bankruptcy, Millions of Residents #Warned of Services Cuts: #Economy #Europe #London #Sunak https://independent.co.uk/news/uk/home-news/birmingham-city-council-bankruptcy-equal-pay-claims-b2405079.html
Birmingham City Council effectively declares itself bankrupt as equal pay claims stack up | The Independent
https://www.independent.co.uk/news/uk/home-news/birmingham-city-council-bankruptcy-equal-pay-claims-b2405079.html
#Birmingham
#BirminghamCityCouncil
#Bankruptcy
#EqualPay
#S114Notice
#Labour
#Tories
#Cryptocurrencies #Altcoin #bankruptcy #cryptocurrencies #Ethereum FTX wallet shifts $10M in crypto, sparking fear of token dumps to come: A wallet owned by bankrupt crypto exchange FTX has moved $10 million worth of digital assets from the Solana (SOL) network to Ethereum, sparking concerns it could be the beginning of a series of token dumps amid the exchange’s bankruptcy proceedings.
According to data from blockchain analytics platform Arkham Intelligence, since… https://btcnews.biz/cryptocurrencies/ftx-wallet-shifts-10m-in-crypto-sparking-fear-of-token-dumps-to-come/?utm_source=dlvr.it&utm_medium=mastodon
#Cryptocurrencies #bankruptcy #court #FTX #regulation FTX court filing reveals former Alameda CEO’s $2.5M yacht purchase: FTX Debtors have disclosed a series of financial statements revealing any transactions that benefited company executives shortly before the major cryptocurrency exchange’s collapse in November 2022.
In a recent court filing with the United States Bankruptcy Court for the District of Delaware, several payments that directly benefited senior company… https://btcnews.biz/cryptocurrencies/ftx-court-filing-reveals-former-alameda-ceo-s-2-5m-yacht-purchase/?utm_source=dlvr.it&utm_medium=mastodon
@TexasObserver @gusbova @josephinelee The #DeathStar bill is also about making sure national #science organizations do NOT 🚫 have any meetings in #Texas - unless they want their membership rolls to be instantly decimated. #bankruptcy 🤷🏻♂️
#Cryptocurrencies #bankruptcy #Business #FTX #Robinhood Robinhood bought back Sam Bankman-Fried’s stake from US govt for $606M: Cryptocurrency and stock trading platform Robinhood has announced the purchase of more than 55 million shares of the firm previously held by former FTX CEO Sam Bankman-Fried.
According to an Aug. 31 blog post, Robinhood completed a purchase of 55,273,469 shares for roughly $606 million following a filing with the United States Securities and… https://btcnews.biz/cryptocurrencies/robinhood-bought-back-sam-bankman-fried-s-stake-from-us-govt-for-606m/?utm_source=dlvr.it&utm_medium=mastodon
Creditors Accuse Genesis of Ballot-Stuffing Over $175M FTX Deal - Genesis is facing headwinds as it seeks to finalize its wind-up after a January bankruptc... - https://www.coindesk.com/policy/2023/09/01/creditors-accuse-genesis-of-ballot-stuffing-over-175m-ftx-deal/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #regulations #bankruptcy #genesis #policy #gemini #news #ftx
Wrap up your successful week, y’all! 👏✈️
bit.ly/ooscareer
Gemini Opposes Genesis Bankruptcy Plan: 'Woefully Light on Specifics' - Attorneys for crypto exchange Gemini argued that a proposed resolution for Genesis' bankr... - https://www.coindesk.com/policy/2023/08/30/gemini-opposes-genesis-bankruptcy-plan-woefully-light-on-specifics/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #regulations #bankruptcy #genesis #policy #gemini #news
At least 26 English councils ‘at risk of bankruptcy in next two years’ | Local government | The Guardian
https://www.theguardian.com/society/2023/aug/28/at-least-26-english-councils-at-risk-of-bankruptcy-in-next-two-years
#DominosPizza signals closure of russian business
The franchise owner of Domino's in russia has signalled it will close its branches there as it announced it will place the business into #bankruptcy.
DP Eurasia said it would end attempts to sell the #pizza chain's shops in the country due to an "increasingly challenging environment".
Read more here 📎 https://www.bbc.co.uk/news/business-66574219
#Ukraine #SlavaUkraine #RussiaIsATerroristState
#СлаваУкраїні! #StandWithUkraine
Debt-ridden China developer Evergrande files for bankruptcy in US
Evergrande: #China property giant files for #bankruptcy in #US
https://news.yahoo.com/evergrande-china-property-giant-files-011707437.html?src=rss
> The move comes as fears grow over problems in the world's second largest economy.
US supreme court halts Purdue Pharma deal that shields Sacklers from lawsuits https://www.theguardian.com/us-news/2023/aug/10/purdue-pharma-oxycontin-supreme-court-sacklers-bankruptcy-deal Court agrees to hear challenge from Biden administration to legality of OxyContin maker’s bankruptcy settlement. #liability #healthlaw #bankruptcy #addiction
"For the wealthy, bankruptcy is the sport of kings, a way to skip out on consequences. For the poor, bankruptcy is an anchor – or a noose. This is by design: judges who preside over elite bankruptcies speak of their protagonists as heroic "risk takers" and tiptoe around any consequences, lest these titans be chained to a mortal's fate, costing us all the benefits of their entrepreneurial genius."
another must-read from @pluralistic
https://pluralistic.net/2023/08/11/justice-delayed/#justice-redeemed
Big bankruptcy news today as the Supreme Court has temporarily blocked the Chapter 11 plan of Purdue Pharma, the makers of Oxycontin.
The Supreme Court will decide whether a Chapter 11 plan can release claims against non-debtor parties when not all creditors consent to the releases.
"Zume had struggled with problems like stopping melted cheese from sliding off its pizzas while they cooked in moving trucks" #deadstartups #failure #bankruptcy
https://www.cbinsights.com/research/startup-failure-post-mortem/
"Yellow has repaid $55 million in interest on the loan, but just $230 in principal. In May the company owed $729.2 million to the U.S. Treasury.
Still, the first New York Times/Sienna College poll of the 2024 campaign shows Trump winning 54% of the votes of likely Republican primary voters."
"Both White House chief of staff Mark Meadows and Treasury Secretary Steven Mnuchin were personally involved in the deal, which Trump’s 2020 campaign used to suggest Trump was friendly to workers.
According to Yeganeh Torbati and Jeff Stein, who covered the story in April 2022 for the Washington Post, the $700 million loan 'was by far the largest provided to any company through the program for businesses critical to national security.'”
"The giant trucking company Yellow is on the verge of bankruptcy and is shutting down, throwing 30,000 people, including 22,000 Teamsters union members, out of work.
Just three years ago, the Trump administration overruled the Pentagon to certify that Yellow was critical to maintaining national security, qualifying it for a $700 million federal loan during the pandemic."
Good fortune appeared to shine on Santa Barbara in 2000, when one of the state’s richest women bought the #Santa #Barbara #News-#Press, a venerable newspaper that at the time had been at the heart of the city’s public life for more than 130 years.
Santa Barbarans cheered at the notion of having a local in charge after more than a decade under the ownership of the New York Times Co.
They saw in #Wendy #McCaw an owner with the financial resources (once pegged by Forbes at $1.5 billion) to ensure long-term viability of the Pulitzer Prize-winning news outlet. And they liked what they knew of her politics: environmentalist; champion of wildlife. McCaw seemed in step with the liberal-leaning beach and university community.
The reports of a match made in heaven proved greatly exaggerated. Within a few years, McCaw’s relationship with newsroom leaders — and then with many readers — began to crumble. A “bloodbath” exodus of top editors in 2006 unleashed what would become a slow-motion unraveling of the newspaper and its credibility.
The downward spiral reached rock bottom July 21, when Ampersand Publishing, the McCaw-led company that owns the News-Press, filed for #bankruptcy. The finishing stroke came without fanfare or public notice.
“All of our jobs are eliminated, and the News-Press has stopped publishing,” Managing Editor Dave Mason wrote in a brief email to the outlet’s staffers. “They ran out of money to pay us.”
Santa Barbarans reacted to the shutdown with measures of sadness and resignation. Many said the newspaper’s fate had been sealed ever since McCaw began warring with her staff and injecting her right-leaning, government-upbraiding views deep into the news pages.
Whether through inexperience or intent, her critics said, McCaw transformed a respected local news organization — steeped in industry standards of fairness and independence — into a tormented plaything. Circulation swooned.
“It’s been like watching a cancer victim die,” said Dawn Hobbs, a former News-Press reporter, who was fired in 2007 after she called for readers to boycott the paper because of McCaw’s purported meddling in editorial decisions. “You are so sad at the end. But you’re almost relieved that the entity has been put out of its misery.”
Last week's Chapter 7 #bankruptcy filing by parent company Ampersand Publishing calls for #liquidation, not a reorganization, suggesting there will be little chance for a new owner to take over.
The filing claims the News-Press has less than $50,000 in assets and up to $10 million in liabilities. Two of the most valuable holdings — the News-Press’ graceful Spanish-style headquarters on De La Guerra Plaza and its Goleta printing plant — are owned by other McCaw companies.
Former employees expressed bitterness that the Chapter 7 filing could mean a crushing postscript to their two-decade legal fight with McCaw. They feared it might allow the owner to avoid paying nearly $3.5 million in #back #wages and #interest levied by the National Labor Relations Board, which years ago found the company guilty of #unfair #labor #practices.
McCaw’s repeated appeals extended the ordeal through last summer, when the 9th Circuit Court of Appeals agreed that she needed to pay up.
Regarding #VanMoof and other #IOT #electronics :
Bankruptcies happens and change of business plans happens to.
We need to have a chapter about open sourcing code and publishing all data, keys and documentation about a product as part of #bankruptcy & #patent law and #CE regulations.
So that if you don’t take care you will go to jail and that you are motivated to support your hardware longer to avoid that trade secrets become public.
Basically if you give up a product it must become commons.
#TitleMax Demands High-Interest Payments From Borrowers in #Bankruptcy
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In #Georgia, borrowers looking to alleviate debt through Chapter 13 bankruptcy can’t escape their high-interest title pawns thanks to a legal loophole that TitleMax helped secure.
@squishymage42 @vaskaraeca #InstantPot has been forced into #bankruptcy by "#investors" because the product, while extremely popular, is too well-built to allow for endless repurchases by loyal customers fast enough to spur "infinite growth", thus violating the fundamental business concept of "#PlannedObsolescence".
@Teri_Kanefield Someone should file a lawsuit about why #studentloan debt isn’t subject to #bankruptcy like every other GD debt! #scotuscorruption #johnroberts #ExpandTheCourt #studentloanforgiveness
#Pyrex, #InstantPot maker files for #bankruptcy as sales fall
Instant Brands, owner of the Instant Pot, has filed for bankruptcy. The Takeout has a theory about why the set-it-and-forget-it kitchen gadget got into financial hot water. Are you an Instant Pot fan or do you think it was just a flash in the pan?
https://thetakeout.com/instant-pot-maker-parent-brand-file-for-bankruptcy-2023-1850534708
Under Pressure: Instant Brands, maker of Instant Pot and Pyrex cookware, files for bankruptcy.
Instant Brands, maker of Instant Pot and Pyrex cookware, files for bankruptcy | CBC News https://bit.ly/464LvRF #InstantBrands #CorningWare #Pyrex #InstantPot #bankruptcy #cdnpoli @cdnpoli
Maker of #InstaPot has filed for Chapter 11 #bankruptcy 🤔 https://www.cbc.ca/news/business/instant-brands-bankruptcy-1.6874487?cmp=rss
Funny, I thought finances were supposed to be safe with the #Tories. Instead Woking's Tories seem to have gone on a reckless property spree funded by borrowing.
#Woking council declares #bankruptcy with £1.2bn deficit
https://www.theguardian.com/politics/2023/jun/07/woking-council-declares-bankruptcy-with-12bn-deficit?CMP=Share_AndroidApp_Other
#Woking #council declares #bankruptcy with £1.2bn deficit | Local politics | The Guardian
But the #Tories are the party of fiscal responsibility. [sarc.]
@Radical_EgoCom #StudentLoan debt & #medicaldebt are only 2 of the curses of #GOPfascists & #wallstreet. We need to invest in our future not offer our people up as #humansacrifices at the altar of #kleptocracy #debt #bankruptcy
How Bankruptcy Helps Coal Industry Avoid Environmental Liability
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Jeff Hoops built Blackjewel into the nation’s sixth largest #coal company by acquiring #bankrupt mines. When it declared #bankruptcy, he pivoted to other ventures, leaving polluted streams and mud-shrouded roads in his wake.
In the Game of Musical Mines, Environmental Damage Takes a Back Seat — co-published with Mountain State Spotlight
While Bed Bath & Beyond slid into #bankruptcy, it spent over a billion dollars since 2021 buying up its own stock.
In bankruptcy, shareholders get paid last. Creditors, including employees, get paid first. So giving final funds to shareholders seems like a way to get around that.
If you are interested in the Silicon Valley Bank #bankruptcy #failure #blowup you might want to check out Credit Slips, an old-time blog that is on a tear on this one. Fascinating thoughts here:
https://www.creditslips.org/creditslips/
in particular:
https://www.creditslips.org/creditslips/2023/03/was-svbs-problem-a-lack-of-membership.html
Johnson & Johnson's strategy to use #bankruptcy to resolve multibillion-dollar #litigation over claims its #talc products cause #cancer was rejected by a federal appeals court on Monday, which dismissed a bankruptcy petition by its talc subsidiary. #legal #news
#Crypto lender Genesis Global Capital is preparing to file for #bankruptcy within days, people familiar with the matter say
Party City files for #bankruptcy #economy
Popcorn anyone? My dream scenario is: the banks take over Twitter because Musk can't afford to pay his bills, reinstate misinformation rules to try and bring advertisers back, and he ends up being banned for spreading misinformation on a platform he used to own. #karma #MakeItSo
With $1.5 billion bill due at month-end, Elon Musk’s options aren’t great | Ars Technica
Purchased for $44 billion, company is likely worth as little as $15 billion today.
#Twitter #ElonMusk #Debt #Loan #Loans #Finance #Finances #Tech #Bankruptcy #Fail #Shadenfreude #SocialMedia
@tchambers
1/n
"A world without Twitter appears more likely by the day, and Koo is not the only rival waiting in the wings to replace it."
"#Musk himself has repeatedly cast doubt on #Twitter’s viability, previously floating the possibility of #bankruptcy and likening the platform to a plane about to crash."
This has been the plan (B) all along. The plan B that is now in place, as the takeover of public opinion has not worked out:
"Twitter’s demise...
at the Consumer Law Scholars Conference, @katieporteroc@twitter.com recommended that we turn out scholarship into a one page policy memo (with bullet points) and then circulate it to policy makers.
The one time I tried that, @usedgov@twitter.com agreed to change course on #studentloans and #bankruptcy
What's the over/under on #Twitter's inevitable #bankruptcy?
I am a #LawProf at #Howard University School of Law. I write about #bankruptcy #studentloans #fintech #highereducation #consumerlaw #AI #ML #discrimination #finance. I toot about all of these things plus #DC #bikes #cycling #WaronCars #urbanism and being a father of two #Dad. Oh, and #food because I cook every day.
It's a bit eclectic but I hope you enjoy.
@marcelias Nothing like a private company sending more of their consumers elsewhere - it usually results in #bankruptcy
@spaf The big winners in #Bankruptcy court are hedge funds with all their derivatives, like credit default swaps ( CDSs ), etc. They are on top in the creditor pool.
I*ve said before #EM bought #Twitter with help, probably to destroy it, as #progressives were making good use of it to achieve progressive goals.
He and his investors probably hedged their bets. 🤢😱😡
I saw an interesting item on today's electoral-vote.com (a good US politics site if you are interested in those things). It suggested that Musk realizes he can't turn around Twitter, so he intends to drive it into financial bankruptcy to shield some of his assets in court. (He is already teetering on moral bankruptcy.)
I'm not sure how bankruptcy law treats such things, but that would seem reasonable.
Comments from anyone who knows the law?
I’ve been here for a few days, time for an #Introduction 🤙🏼
Hi, I’m very much enjoying #Mastodon & have been very active since I first joined.
WorMP3 is a pseudonym as this is still the Internet 🤫
I’m paralegal specializing in #bankruptcy #law been doing it for over a decade. I like discussing #politics the law, #philosophy #InfoSec as for my lighter subjects #collegefootball (Go #Dawgs ) #cars #motorcycles #Gaming and #Travel
I’m always learning, let’s discuss something!🤓
Glad to be here 🫡
@davidallengreen Hi! I'm a #lawprof at Cardozo Law in NYC. Research #bankruptcy, business, consumer, and commercial law. Mainly empirical research (quantitative and qualitative). Currently writing two books. One about churches that file bankruptcy to reorganize, with an emphasis on how Black churches use bankruptcy as a site of resistance to discrimination in lending. And one about people who file bankruptcy and what their cases show about household financial precarity in the United States.
@davidallengreen #Bankruptcy (#CommercialBankruptcy) attorney in Phoenix, Arizona, who also does other non-bankruptcy litigation.
New #introductions now that I migrated from my prior account. I'm a #lawprof in #NYC. Research #bankruptcy #consumer #protection #commercial #law. Mainly via #empirical studies. I'm on sabbatical this semester, happily (and frantically) #writing two books. One is about Black #churches that file #chapter11 bankruptcy to #reorganize. The other is about people who file bankruptcy. I also post about my #cats, #vegan food, #queer life, and living with a congenital heart defect (#chd).