Bishop: Diocese of Sacramento to seek bankruptcy protection after over 250 lawsuits claim sexual abuse| CBS News Sacramento -
After receiving more than 250 lawsuits alleging sexual abuse by clergy and other staff, the...more
US Supreme Court torn over Purdue bankruptcy suit| Reuters -
On Monday, U.S. Supreme Court justices grappled with whether to affirm OxyContin producer Purdue Pharma’s bankruptcy plan.
S&K Take: Really couldn’t lead...more
WeWork plans bankruptcy filing as soon as next week, report says, in startling reversal from its heady days as a tech industry superstar| Fortune -
The Wall Street Journal reported on Tuesday that WeWork plans to file for...more
Rite Aid files for bankruptcy| CNN -
Last week, pharmacy chain Rite Aid notified the U.S. Securities and Exchange Commission (SEC) stating that it was considering bankruptcy. On Sunday, it filed for Chapter 11 bankruptcy...more
Bankruptcy court refuses to dismiss marijuana industry debtor Chapter 11 case| Reuters -
The U.S. Bankruptcy Court for the Central District of California has refused a motion to dismiss the Chapter 11 Bankruptcy case for...more
10/16/2023
/ Attorney's Fees ,
Bankruptcy Court ,
Bankruptcy Plans ,
Chapter 11 ,
Controlled Substances Act ,
Cryptocurrency ,
Marijuana Related Businesses ,
Mediation ,
Opioid ,
Restructuring ,
Settlement
International Longshore and Warehouse Union files for bankruptcy | Reuters -
The International Longshore and Warehouse Union (ILWU) has filed for a Chapter 11 bankruptcy protection to fend off long standing litigation...more
Bankrupt Lordstown Motors proposes zero payment for Foxconn shares | Reuters -
After successfully filing their Chapter 11 plan last week, Lordstown Motors has now proposed to pay nothing for Foxconn’s preferred equity...more
Mallinckrodt's opioid creditors support fast-track second bankruptcy | Reuters -
Drugmaker Mallinckrodt, who previously emerged from its initial Chapter 11 in June 2022, filed for its second bankruptcy this week. The...more
Below is our initial take on recent bankruptcy-related developments: This week Mallinckrodt said that they expect to file for their second bankruptcy in the coming days after coming to an agreement with its creditors to...more
BlockFi’s Chapter 11 plan progresses with conditional court approval | Cointelegraph -
United States Bankruptcy Court for the District of New Jersey recently conditionally approved Blockfi’s disclosure statement. If the...more
Below is our initial take on recent bankruptcy-related developments: Alex Mashinsky, co-founder and former CEO of bankrupt crypto lender Celsius has pleaded not guilty to U.S. fraud charges. The indictment includes seven...more
BlockFi Bankruptcy Plans Opposed by FTX, Three Arrows, and SEC | CoinDesk -
Bankrupt crypto lender BlockFi submitted bankruptcy plans which have now been opposed by bankrupt companies FTX and Three Arrows Capital as well...more
J&J's $8.9 billion talc settlement faces US bankruptcy test | Reuters -
A U.S. bankruptcy judge has started to hear evidence and arguments on J&J subsidiary, LTL Management’s second bankruptcy filing. LTL’s bankruptcy...more
Georgia-Pacific may maintain bankruptcy pause on lawsuits, court rules | Reuters -
The 4th U.S. Circuit Court of Appeals recently ruled to extend Georgia-Pacific’s protection against lawsuits while its subsidiary...more
Instant Brands, maker of Instant Pot and Pyrex, files for bankruptcy | CNN -
Instant Brands, the parent company of many popular kitchen products, filed for Chapter 11 bankruptcy this week. Instant Brands produces Instant...more
US mattress maker Serta Simmons receives Chapter 11 plan approval | Reuters -
Serta Simmons Bedding’s recent Chapter 11 reorganization plan was recently approved by a U.S. bankruptcy court, supporting the company’s goal of...more
U.S. Crypto Exchange Bittrex Files for Bankruptcy in Delaware | CoinDesk -
On Monday, Crypto exchange Bittrex filed for bankruptcy in the U.S. state of Delaware months after announcing it would wind down operations in the...more
Bed Bath & Beyond Preparing for Bankruptcy Filing Within Days | The Wall Street Journal -
Speculation is growing that Bed Bath & Beyond will soon file for bankruptcy, after its latest attempts at raising funds have not...more
J&J’s First Attempt to Escape Cancer Claims With Bankruptcy Failed. Now It’s Trying Again | Bloomberg -
After Johnson & Johnson’s failed first attempt to use bankruptcy to avoid claims being brought against it, the company...more
FTX seeks to claw back $460M from Bankman-Fried-backed VC firm | Cointelegraph -
FTX is looking to recover $460M from venture capital firm Modulo Capital, which had received the investment from FTX’s sister trading firm...more
Crypto-friendly lender Silvergate collapses | CNBC -
Silvergate, a Crypto focused lender, announced it will wind down its operations and voluntarily liquidate the bank. This announcement comes a week after Silvergate...more
3/13/2023
/ Banking Sector ,
Banks ,
Borrowers ,
Chapter 11 ,
Cryptocurrency ,
FDIC ,
Federal Reserve ,
Financial Services Industry ,
Insolvency ,
Lenders ,
Securities and Exchange Commission (SEC) ,
Unregistered Securities ,
Wage and Hour
Below is our initial take on recent bankruptcy-related developments:
Silvergate reported a $1 billion loss for the fourth quarter and said it is unable to meet an extended March 16 deadline for submitting its annual...more
3/6/2023
/ Annual Reports ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Criminal Prosecution ,
Cryptocurrency ,
Debtors ,
FDIC ,
Fraud ,
Investors ,
Misappropriation ,
Trading Platforms
SEC files objection to Binance.US bid for Voyager assets | Cointelegraph -
The SEC has confirmed that they are objecting Binance.US’ move to acquire over $1B in assets belonging to the now defunct cryptocurrency lending...more
Judge indicates intention to dismiss J&J talc unit bankruptcy | Reuters -
Bankruptcy Judge Michael Kaplan said this week that he intends to dismiss the bankruptcy case filed by Johnson & Johnson's subsidiary, LTL...more
Bed Bath & Beyond is closing 149 more stores | CNN -
Bed Bath & Beyond has expanded its list of additional stores they expect to close, from 87 to 149. In total the company is reducing its store count from 760 to about...more