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
Supreme Court puts Purdue Pharma bankruptcy deal on hold | NBC -
The Supreme Court has blocked an appeals court decision that had allowed Purdue Pharma’s restructuring plan to move forward effectively putting the plan on...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
Party City Rehashes Restructuring Deal After Missing Financial Projections | Yahoo Finance -
Party City has reworked a key deal with their key lenders to restructure their bankruptcy exit plan. Now, lenders will have the...more
To paraphrase what Ben Franklin may have been alluding to nearly 300 years ago in his famous quote, often the best approach when it comes to reducing the risk of litigation and government enforcement proceedings is to take...more
7/27/2023
/ Anti-Corruption ,
Anti-Discrimination Policies ,
Anti-Harassment Policies ,
Anti-Money Laundering ,
California Consumer Privacy Act (CCPA) ,
Compliance ,
Data Privacy ,
Data Security ,
Document Review ,
Due Diligence ,
Employment Contract ,
Enforcement ,
Ethics ,
Force Majeure Clause ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Health and Safety ,
Insurance Industry ,
Intellectual Property Protection ,
Investigations ,
Non-Public Information ,
Performance Reviews ,
Personal Information ,
Pricing ,
Reporting Requirements ,
Risk Mitigation ,
Sales ,
Social Media ,
Technology Sector
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
Below is our initial take on recent bankruptcy-related developments: Bankrupt cryptocurrency lender Celsius Network LLC announced this week that it has chosen the proposal from Fahrenheit to exit bankruptcy. Fahrenheit, a...more
Vice Media Files for Bankruptcy as Ad Business Suffers | Reuters -
Once valued at $5.7 billion, Vice Media Group filed for bankruptcy this week with a planned sale to a group of lenders. The bankruptcy filing comes at a...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
Reports of supply chain litigation from troubled retailer Bed Bath & Beyond (BBBY) before the Federal Maritime Commission (FMC) have hit the news, reflecting a trend of increasing supply chain litigation before the FMC since...more
Below is our initial take on recent bankruptcy-related developments:
In a court filing on Wednesday, bankrupt crypto exchange FTX said that it wants to claw back nearly $4 billion in funds from similarly bankrupt Genesis...more
Below is our initial take on recent bankruptcy-related developments: Bed Bath & Beyond has been warning of a potential bankruptcy since early January. It finally filed for bankruptcy protection and has asked the courts for...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
Judge Halts Voyager Digital's $1.3 Bln Sale to Binance.US | Reuters -
On Monday, a New York federal judge stopped bankrupt Voyager Digital from completing a proposed $1.3 billion sale to crypto exchange Binance.US,...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
Major US banks inject $30 billion to rescue First Republic Bank | Reuters -
On Thursday, Credit Suisse said it will borrow up to $54 billion from Switzerland's central bank to ease fears of a global banking crisis as signs...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