Finance News – Bankruptcy
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Bankruptcy judge allows Celsius to proceed with claims against Tether in $4.3B dispute
The court's decision enables Celsius to continue legal actions against Tether, potentially affecting the valuation and resolution of assets involved in the $4.3 billion financial d...
Read Full Article →NY Bankruptcy Judge Gives Celsius the Green Light to Pursue $4.3B Lawsuit Against Tether
A judge’s approval allows Celsius to seek substantial compensation from Tether, highlighting potential financial liabilities related to the liquidation of a significant cryptocurre...
Read Full Article →Wolfspeed Stock Soars as Chipmaker Goes Through With Bankruptcy Filing
Wolfspeed’s share price experienced a notable increase following the company’s initiation of formal insolvency proceedings, reflecting investor reactions to its current financial r...
Read Full Article →Purdue Pharma plan moves forward despite challenge from opioid victim
Purdue Pharma’s reorganization plan advances in bankruptcy court despite concerns that potential government recovery funds intended for victim compensation may not be fully disclos...
Read Full Article →FTX fights back against 3AC’s ‘unreasonable and unsupportable’ $1.53B claim
FTX’s legal representatives have challenged a $1.53 billion demand by Three Arrows Capital, arguing that honoring this claim could significantly reduce the recoverable assets avail...
Read Full Article →FTX seeks to block 3AC’s $1.5B claim, alleges self-inflicted losses
FTX’s bankruptcy proceedings involve a significant dispute as the estate challenges a $1.5 billion claim by Three Arrows Capital, highlighting complex financial losses linked to hi...
Read Full Article →FTX lawyers say 3AC’s $1.5 billion claim ‘defies logic’ and should be tossed
FTX’s legal team argues that 3AC’s substantial financial demand lacks merit, asserting that the bankrupt entity holds no valid entitlement to funds within the ongoing insolvency pr...
Read Full Article →Alex Mashinsky forfeits rights to Celsius assets amid ongoing bankruptcy process
Alex Mashinsky’s relinquishment of claims to Celsius-related holdings significantly impacts his potential financial recovery as he and affiliated entities are excluded from receivi...
Read Full Article →Former Celsius CEO Alex Mashinsky Forfeits All Claims to Bankruptcy Proceeds
By relinquishing his rights to any bankruptcy disbursements, the former CEO enables a greater allocation of available assets to be paid out to those owed money by the company.
Read Full Article →Fears WA's main power grid 'slowly collapsing' as gas plant teeters on edge
The financial instability of a major gas-fired power facility in Western Australia raises concerns about potential disruptions that may impact the broader energy market and increas...
Read Full Article →UK watchdog fines 23andMe for 'profoundly damaging' data breach
The regulatory penalty imposed on the DNA testing company highlights financial challenges amid its bankruptcy proceedings and upcoming ownership transfer, potentially impacting its...
Read Full Article →23andMe’s founder wins bid to regain control of bankrupt DNA testing firm
Anne Wojcicki’s increased $305 million offer to reclaim the genetic testing company surpasses previous bids, reflecting significant investor confidence despite the firm’s recent de...
Read Full Article →Shaquille O’Neal Cuts $1.8M Check to Close FTX Lawsuit
Shaquille O’Neal's payment of $1.8 million marks the resolution of a prolonged legal dispute related to his association with the collapsed cryptocurrency platform FTX.
Read Full Article →UK appoints specialist to recover crypto from bankruptcy cases
The UK Insolvency Service has engaged an expert with investigative experience to assist in retrieving digital assets for creditors involved in insolvencies and legal proceedings re...
Read Full Article →EchoStar may be considering this unusual way to protect itself from the government, and the stock is...
EchoStar is evaluating bankruptcy as a strategic option to maintain its licenses amid regulatory challenges, which is causing investors to react negatively and the company’s stock...
Read Full Article →EchoStar Stock Drops as Dish Parent Reportedly Considers Bankruptcy Filing
The potential bankruptcy consideration by the parent company of EchoStar has led to a notable decline in the stock's value, reflecting investors' concerns about the firm's financia...
Read Full Article →23andMe back on the auction block after former CEO makes 11th-hour bid
The recent $305 million offer from a principal insider disrupted a prior $256 million purchase deal, potentially altering the financial outcome of the company’s bankruptcy asset sa...
Read Full Article →WeightWatchers scraps business model to team up with anti-obesity drugs provider
The collaboration with a pharmaceutical company offering GLP-1 treatments represents a strategic move for the brand to diversify revenue streams and address declining market compet...
Read Full Article →Wolfspeed’s stock more than halves its value as bankruptcy fears build
The company’s increasing financial obligations and potential restructuring have led to a significant decline in its market valuation, reflecting growing investor concerns about its...
Read Full Article →Wolfspeed Stock Plummets 70% on Report Firm Preparing to File for Bankruptcy
The company’s shares experienced a significant decline as investors reacted to news of potential legal proceedings that could impact its financial stability and overall market posi...
Read Full Article →Binance, CZ, filed to dismiss $1.76b lawsuit by FTX bankruptcy team
Binance and its CEO have challenged a $1.76 billion claim from FTX’s bankruptcy team, asserting they bear no responsibility for the financial difficulties leading to FTX’s insolven...
Read Full Article →Binance seeks to dismiss $1.76B FTX lawsuit, blames SBF for collapse
Binance’s effort to reject the $1.76 billion claim challenges allegations of insolvency and improper asset use, potentially impacting the resolution of significant bankruptcy proce...
Read Full Article →Genesis LOC files new lawsuits against DCG, Barry Silbert to recoup billions for creditors
Genesis Global has initiated legal action against DCG and its leadership, seeking to recover substantial funds for creditors following allegations of mismanagement that led to fina...
Read Full Article →FTX Will Hand Out Over $5 Billion in Bankruptcy Repayments This Month
Starting May 30, creditors of FTX are expected to receive distributions totaling more than $5 billion as part of the ongoing bankruptcy resolution process.
Read Full Article →Ex-Cred execs plead guilty to wire fraud over $150M crypto collapse
Customers of the failed crypto lending platform experienced significant financial losses estimated between $65 million and $150 million due to misleading information and undisclose...
Read Full Article →WeightWatchers files for bankruptcy as fat-loss jabs boom
WeightWatchers is facing financial challenges due to increasing debt and intensified rivalry from the growing popularity of pharmaceutical treatments for weight reduction.
Read Full Article →Weight Watchers goes bankrupt even as it tries to ride the Ozempic boom
WeightWatchers has filed for bankruptcy due to over $1 billion in debt, aiming to restructure its finances while shifting focus toward weight loss medications such as GLP-1 treatme...
Read Full Article →WeightWatchers files for bankruptcy in a bid to cut its debt
The company facing persistent financial challenges disclosed intentions to initiate bankruptcy proceedings to restructure its obligations and collaborate with creditors in an effor...
Read Full Article →WeightWatchers files for bankruptcy after weight-loss drugs capsized industry
WW International sought Chapter 11 bankruptcy to restructure its debt following industry changes caused by the rapid rise of new obesity medications impacting its traditional reven...
Read Full Article →FTX missed out on $500 million after selling Anysphere’s Cursor AI stake for just $200K
By liquidating its initial investment in Anysphere at a significantly lower valuation, the bankrupt exchange forfeited substantial potential revenue tied to the company's growth in...
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