News & Analysis as of

Liquidation Cryptocurrency Commercial Bankruptcy

Seward & Kissel LLP

Forever 22, Powder Room, and Initial Here

Seward & Kissel LLP on

Forever 21 plans nearly 200 store closures in second bankruptcy, Bloomberg News reports | Reuters - The U.S.-based operator of clothing retail chain Forever 21 is planning to shut down at least 200 additional locations as...more

Seward & Kissel LLP

Not the Rite Stuff, Delusions of Evergrandeur, Withdrawal Symptoms, and FTX Frenzy

Seward & Kissel LLP on

Rite Aid, bracing for bankruptcy, will close hundreds of stores | SuperMarket News - As it prepares to file for bankruptcy, Rite Aid is gearing up to close as many as 500 of its 2,100 stores. The Philadelphia-based...more

BakerHostetler

Stunning Collapse of Global Cryptocurrency Exchange FTX Leads to Bankruptcy

BakerHostetler on

In a sudden and stunning collapse, FTX, the world’s second largest cryptocurrency exchange, run by 30-year-old Sam Bankman-Fried along with more than 130 entities affiliated with FTX, filed for Chapter 11 bankruptcy...more

Proskauer Rose LLP

The Other Side of The Coin: Cryptocurrency Assets in Bankruptcy

Proskauer Rose LLP on

On July 5, 2022, cryptocurrency brokerage Voyager Digital filed for chapter 11 in the Southern District of New York Bankruptcy Court, citing a short-term “run on the bank” due to the “crypto winter” in the cryptocurrency...more

BCLP

The Magic of Mt. Gox

BCLP on

Arthur C. Clarke famously observed: “Any sufficiently advanced technology is indistinguishable from magic.” Our regulatory, legislative, and judicial systems illustrate this principle whenever new technology exceeds the...more

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