Finance News – Bankruptcy
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Kodak faces financial struggles even as Gen Z sparks a film resurgence
Kodak's potential bankruptcy highlights ongoing monetary challenges despite increased demand driven by younger generations appreciating vintage photography and analog film products...
Read Full Article →SME Construction data casts doubt on UK ability to hit 1.5 million homes
The increasing financial difficulties faced by small construction companies may hinder the sector’s capacity to meet the government’s ambitious housing development targets within t...
Read Full Article →FTX to begin next creditor distribution on Sept. 30 after court frees $1.9B
Following the court’s release of $1.9 billion, FTX is scheduled to start its subsequent round of payments to creditors on September 30, marking further advancement in the ongoing b...
Read Full Article →Short seller Jim Chanos goes head-to-head with bitcoin evangelist on MicroStrategy’s premium
Jim Chanos, known for his successful short positions, is now challenging the market value investors assign to MicroStrategy’s assets linked to bitcoin holdings.
Read Full Article →Cyber entrepreneur who wooed pop stars and politicians files for bankruptcy
Despite recently securing a substantial government agreement, the cybersecurity firm ceased operations within months, resulting in significant financial distress and ultimately lea...
Read Full Article →BlockFi bankruptcy administrator and DOJ agree to dismiss $35M lawsuit
The resolution of the $35 million lawsuit involving BlockFi’s crypto asset transfers may impact the company’s financial restructuring and obligations during the bankruptcy process.
Read Full Article →FTX estate asks court to freeze payouts in ‘restricted’ countries
The financial impact involves potential delays or limitations on creditor payments in certain regions due to ambiguous legal rights and regulations surrounding cryptocurrency trans...
Read Full Article →What Del Monte's bankruptcy means for Canadian consumers
Del Monte's recent financial restructuring could influence product availability and pricing for Canadian buyers due to operational challenges and increased expenses related to pack...
Read Full Article →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...
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