Residential Solar Firm Lumio Files Bankruptcy, Plans to Sell | Bloomberg -
Privately owned provider of residential solar panels Lumio filed for Chapter 11 bankruptcy on Tuesday in Delaware with plans to sell its company to...more
Bus Carrier Coach USA Goes Bankrupt After Ridership Drops | Bloomberg -
Bus carrier and owner of the Megabus brand and commuter bus lines connecting New York and New Jersey, Coach USA filed for Chapter 11 bankruptcy in...more
BowFlex Files For Bankruptcy | CNN -
On Tuesday, at-home exercise equipment company BowFlex filed for Chapter 11 protection. BowFlex stated that Taiwan-based company Johnson Health Tech will act as stalking horse in a...more
Latham, Jackson Walker Avoid Sanctions Over Bankruptcy Forum Shopping Dispute | Reuters -
In a court hearing on Monday, U.S. Bankruptcy Judge Christopher Lopez in Houston ruled that law firms Latham & Watkins and Jackson...more
Editor’s Note: Hat tip to the Creditors Rights Coalition for reaching out after last week’s blog to inform yours truly that the “judge shopping” concerns of creditor advocates extend beyond just the S.D. of Texas, and that a...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
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
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
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
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
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
Failed Crypto Exchange FTX Has Recovered $5 Billion, Attorney Says | Reuters Bankrupt -
FTX has located over $5 billion of cash, liquid cryptocurrency, and liquid investment securities, which does not include another $425...more
Until yesterday, only one significant cryptoasset player had filed for bankruptcy protection in the U.S., which was Cred, Inc. in 2020. The Cred case, however, was precipitated more by fraud than any systemic issues related...more