Cineworld Group plc (LON: CINE) ended nearly 60% down on Friday following reports the British cinema chain was preparing to file for bankruptcy. Cineworld shares crashed to under 2 pence The Wall Stre...
Tag: Bankruptcy
US Trustee moves to appoint examiner in Celsius bankruptcy case
The United States Trustee wants to appoint an examiner to embattled lender Celsius to produce an unbiased public report providing transparency on the firm’s business operations, investments, tra...
Cineworld Shares Plunge More Than 50% After Report Of Looming Bankruptcy, AMC Falls
Topline The world’s second largest movie theater chain and owner of Regal Cinemas, UK-based Cineworld Group, saw its stock plunge over 60% on Friday after The Wall Street Journal reported that the com...
Cineworld shares plummet more than 60% on bankruptcy reports
Cineworld, which operates 9,000 theatres in 10 countries, has warned that a lack of blockbusters is hurting admissions. Geography Photos | Universal Images Group | Getty Images LONDON — Shares of Brit...
Celsius Bankruptcy Case Requires Independent Examiner Says US Trustee Office
The United States Trustee Office has asked for an independent probe of Celsius in the bankruptcy case. A court filing states that there were multiple questions related to the transparency of Celsius’ ...
3M Unit Defends Request to Shield Parent From Mass Earplug Lawsuits
Lawyers representing 3M Co. ’s bankrupt Aearo Technologies LLC subsidiary defended its request to a bankruptcy judge to extend a litigation stay to the parent company to resolve mass earplug lawsuits,...
Celsius Bankruptcy Investigated by Independent Examiner
The independent examiner will attempt to peer into the lender’s business practices, as well as the value and type of crypto it holds A committee representing Celsius users has publicly objected to the...
Canadian pension fund writes off investment in Celsius
Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) revealed on Wednesday that it has written off its investment in Celsius. CDPQ, which manages about CAD$392 billion ($303 billion) ...
BBBY stock price has crashed, and bankruptcy is highly likely
The Bed Bath & Beyond (NASDAQ: BBBY) stock is unraveling. The stock crashed by more than 35% on Thursday, erasing most of the gains it has made in the past few weeks. It ended the day at $18.55, w...
A Bankruptcy Examiner Should Look Into Crypto Lender Celsius Network’s Collapse, US Trustee Says
“The Debtors’ professionals acknowledge many of these facts and circumstances and have provided information requested by the United States Trustee. Irrespective of such cooperation, however, the...
Financial Times accuses CEO of Celsius of contributing to the bankruptcy
According to reports in the Financial Times, Alex Mashinsky, Ceo of Celsius, allegedly personally took over some trading decisions that were deemed questionable to say the least, such as selling hundr...
Celsius CEO in charge of crypto trades months before filing bankruptcy claims
The CEO of Celsius, Alex Mashinsky, reportedly had control of the trading strategies of the crypto lending company months before the company halted withdrawals and filed for bankruptcy. Mashinsky exec...
Weighed Down by Opioid Litigation, Endo International Files for Bankruptcy
Text size Dreamstime The generic drugmaker Endo International , which faces thousands of lawsuits related to its alleged role in the opioid crisis, filed for bankruptcy late Tuesday morning, while ann...
Celsius Considers Fresh Financing Offers to Escape Bankruptcy
Celsius Network has received offers of fresh cash to help it fund a potential restructuring process, a lawyer for the company said. The unsecured collector’s committee will meet Celsius next week, and...
J&J Unit Tells Appeals Court Only Bankruptcy Can Settle Talc Claims
A Johnson & Johnson subsidiary urged a federal appeals court to uphold the controversial legal strategy it used to move to bankruptcy roughly 38,000 lawsuits linking its talc-based products to can...
Celsius CEO Was Controlling Trades Leading Up To Bankruptcy
A report has claimed that Alex Mashinsky had taken over control of trading strategies at Celsius in the months leading up to the firm’s widely publicized insolvency issues and eventual collapse. The f...
Endo International Files for Bankruptcy to Weather Opioid Lawsuits
Endo International PLC became the latest pharmaceutical company to file for bankruptcy under the weight of lawsuits alleging it played a role in fueling the opioid crisis. The drugmaker, domiciled in ...
Celsius CEO personally directed crypto trades months before bankruptcy: Report
Celsius CEO Alex Mashinsky reportedly “took control” of trading strategy at the crypto lending firm amid January rumors the United States Federal Reserve planned to hike interest rates. According to a...
Celsius Network Is Next Crypto Company to File Bankruptcy
Crypto lending platform Celsius Network has been in the news several times over the past few weeks. The company has made repeated headlines given that it took a big step towards centralization and ult...
Celsius CEO’s alleged trading decisions led to bankruptcy
Alex Mashinsky allegedly took control of trading decisions at Celsius, which resulted in a $50 million loss in January, the Financial Times reported. Following the U.S. Federal Reserve’s January 2022 ...
Hodlnaut: Crypto lender nearing bankruptcy
Hodlnaut, a Singapore-based cryptocurrency lending company, in recent days notified the Asian city-state’s financial authority (MAS) that it has discontinued the possibility of withdrawals for its cus...
Alex Mashinsky Traded Celsius’ Book Before Bankruptcy: FT
Share this article Celsius suffered from widely publicized insolvency issues as crypto prices crashed then filed for Chapter 11 bankruptcy in July. Mashinsky Allegedly Traded Celsius Funds Alex Mash...
Judge Knocks 3M Bankruptcy Strategy for Military Earplug Lawsuits
A federal judge criticized 3M Co. ’s attempt to use the protections of chapter 11 to resolve mass injury claims by U.S. military veterans, but will allow a bankruptcy court to decide whether to shield...
Celsius’ Net Liabilities Surpass $2.8 Billion: New Bankruptcy Filing
Celsius has released its budget for the next three months, allocating $13.9 million to payroll and $57.3 million to mining As of July 29, Celsius reported owing a total of $6.7 billion of token liabil...
Celsius set to burn $137.2M in 3 months as bankruptcy proceedings continue
Embattled crypto lender Celsius filed for Chapter 11 bankruptcy in July and filed new documents in court on Aug. 14, detailing its budget for August through October. According to court documents, Cels...
California Financial Regulator Slaps Crypto Lender Celsius With ‘Desist and Refrain’ Order Amid Bankruptcy
California’s financial services regulator is issuing a desist and refrain order to embattled crypto lender Celsius Network for violating state laws. The Department of Financial Protection and Innovati...
Sears and creditors reach $175 million deal with Eddie Lampert to settle litigation over allegations of self-dealing
After four years stuck in bankruptcy limbo, Sears Holdings and its creditors have reached a settlement with former Chief Executive and majority shareholder Eddie Lampert and other investors, clearing ...
German crypto bank Nuri files for bankruptcy, says withdrawal services are running normally
Nuri, a crypto startup bank based in Germany, has filed for bankruptcy. The firm had around 500,000 customers before this filing. It attributed the decision to the crypto bear market and the liquidity...
Bankruptcy Claims Traders Have Begun Offering Creditors of Embattled Crypto Firms a Lifeline
Wall Street credit traders specializing in bankruptcy claims are offering customers of bankrupt crypto firms some of their money back. But there’s a catch: creditors must relinquish rights to their c...