Finance News – Creditors
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Hudson's Bay is now just a numbered company as it continues to sell its assets to repay creditors
Hudson's Bay has transitioned into a numbered corporation as it divests various holdings, including its intellectual property, in order to generate funds for settling outstanding d...
Read Full Article →FTX to begin $1.9B payouts in September as claims no longer disputed
FTX plans to distribute approximately $1.9 billion starting in September, potentially including payments to regions previously under dispute, as creditors prepare updated claims fo...
Read Full Article →FTX creditors to receive next round of payouts by Sept 30
The upcoming distribution scheduled for late September will provide eligible creditors with partial recovery of their claims as outlined in the approved restructuring plan.
Read Full Article →Backpack launches FTX debt marketplace for claim holders
Backpack introduced a platform that enables individuals owed by FTX to trade their outstanding claims with external investors, potentially improving liquidity and facilitating debt...
Read Full Article →Businesses fear losing millions as NSW mine on brink of collapse
Creditors anticipate substantial financial losses as administrators assume control of a Hunter Valley mine facing potential collapse, raising concerns about the impact on associate...
Read Full Article →Hudson's Bay fights back against lender that wants to terminate lease sales to Ruby Liu
The agreement is expected to produce substantial financial gains for the company as it works to repay millions of dollars owed to its creditors.
Read Full Article →Chinese creditors challenge FTX’s bid to block billions in payouts
A group of Chinese creditors has legally opposed FTX’s recent attempt to reduce or eliminate settlements in specific jurisdictions, potentially affecting the distribution of substa...
Read Full Article →Chinese creditors push back against FTX’s motion to forfeit payouts in restricted jurisdictions
FTX faces substantial financial challenges as creditor claims totaling $800 million span 49 countries, with a significant portion originating from China, impacting the distribution...
Read Full Article →Over 500 Chinese creditors challenge FTX over $470M payout freeze
More than 500 lenders from China are disputing FTX’s attempt to postpone distribution of nearly $470 million, seeking legal intervention to address issues related to fairness and r...
Read Full Article →Why FTX creditors in 49 countries may be cut from payouts
FTX’s proposed court-approved claims procedure may impact creditors located in multiple regions where cryptocurrency regulations limit or prohibit digital asset activities, potenti...
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 would happen if Thames Water is temporarily renationalised?
Temporarily transferring ownership of Thames Water to the government could stabilize its finances by managing debts and investments while ensuring continued service for millions of...
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 rejects 3AC’s $1.5B claim, citing ‘failed trading strategy’
FTX's legal team challenged Three Arrows Capital's $1.5 billion demand, contending that creditors should not bear responsibility for losses resulting from the firm’s high-risk inve...
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 →Thames Water must be held to account | Letters
The financial implications involve potential asset seizures from those benefiting financially through environmental harm, highlighting concerns about regulatory failures and priori...
Read Full Article →FTX users fight to unlock $2.2B in still-disputed bankruptcy claims
FTX creditors are seeking resolution on billions in contested claims, while several users experience difficulties completing identity verification procedures related to the ongoing...
Read Full Article →FTX continues to exclude Nigeria and China in remaining creditor repayments but includes Payoneer
By incorporating Payoneer as a payment channel while excluding Nigeria and China, FTX aims to diversify asset distribution and potentially enhance recovery options for eligible cre...
Read Full Article →Put Thames Water into temporary state control, ‘junior’ creditors will argue
The proposed £5 billion funding and significant debt reduction for Thames Water could impact bondholders financially, raising concerns about potential effects on future creditor ri...
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 →Thames Water creditors offer up £5bn as part of emergency turnaround plan
Thames Water’s creditors have proposed a substantial funding package intended to stabilize the company, but the regulator worries the plan may not reduce debt sufficiently to impro...
Read Full Article →Thames Water’s creditors are being too greedy | Nils Pratley
The group of lenders proposing a financial rescue for Thames Water is seeking significant concessions from regulators, highlighting the challenges involved in securing a viable tur...
Read Full Article →Thames Water bosses were set for £18.5mn before outcry over bonuses
Creditors have proposed a rescue plan involving a £3 billion equity injection and a 20 percent reduction in loan values, highlighting significant financial restructuring efforts am...
Read Full Article →A race against time: what now for Thames Water after rescue deal collapses?
The withdrawal of a major investment proposal has intensified financial uncertainty for the utility, prompting extensive creditor negotiations and increasing the likelihood of temp...
Read Full Article →Thames Water creditors line up McTighe to spearhead rescue deal
A leading restructuring expert is being considered to lead a complex financial turnaround for Thames Water following the withdrawal of its initial preferred investor in the multibi...
Read Full Article →FTX starts $5B payouts — Here’s what you need to know
FTX has initiated distributions totaling $5 billion to its creditors, a development that has generated discussions about potential impacts on the broader cryptocurrency market and...
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 estate to start distributing more than $5B on May 30
FTX’s bankruptcy resolution plan involves distributing over $5 billion to creditors beginning May 30, marking significant progress toward recovering user assets following the excha...
Read Full Article →FTX creditors poised to receive $5B by May 30 in latest distribution round
The FTX Recovery Trust plans to allocate more than $5 billion to eligible claimants by the end of May, advancing the company's efforts to fulfill obligations under its reorganizati...
Read Full Article →FTX announces $5b second distribution to eligible creditors
FTX is set to initiate a significant $5 billion payout to qualified creditors, marking a notable progression in the ongoing asset recovery and redistribution process.
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