Photo by Rob Carr/Getty Images. Getty Images As the nation’s largest owner of regional sports networks (RSNs) Diamond Sports Group (DSG) is reportedly planning to file for a Chapter 11 bankruptcy reor...
Tag: Bankruptcy
Does Genesis bankruptcy Deal Benefit the Crypto Sector?
Recent news surrounding the Genesis bankruptcy deal could bring good days in ongoing crypto winter. The failed crypto lender filed for bankruptcy in January 2023, after being affected by the events of...
Hodlnaut Hunts for Buyer, Creditors Want Liquidation
Interim judicial managers of distressed Singapore-based crypto lender Hodlnaut have begun fielding inquiries from prospective buyers and its claims against bankrupt exchange FTX. The managers are repo...
Bankruptcy Proceedings Come At A High Cost For FTX, Law Firm To Earn Millions
The FTX bankruptcy case has proved to be a lucrative opportunity for Sullivan & Cromwell, a well-known law firm, as it is expected to earn millions in fees for handling the fallen crypto empire’s ...
FTX bankruptcy fees near $20 million for 51 days of work
The FTX logo on a laptop screen. Andrey Rudakov | Bloomberg via Getty Images FTX’s top bankruptcy, legal, and financial advisors have billed the company more than $19.6 million in fees for work ...
Bankrupt crypto giant FTX racks up millions in legal and consulting bills
Going broke isn’t cheap. Troubled crypto exchange FTX and its affiliated companies racked up more than $20 million in legal and consulting bills during the first several months of its ban...
Bed Bath & Beyond lines up funding in bid to avoid bankruptcy
A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Stephanie Keith | Bloomberg | Getty Images Bed Bath & Beyond will live to see another day – at least...
FTX CEO Describes ‘Pure Hell’ Leading Up to Exchange’s bankruptcy case
John Ray, who recently took over as chief executive officer of the cryptocurrency exchange FTX after the business declared bankruptcy, has revealed some of the chaotic incidents that have occurred at ...
DCG Creditor Pact Revealed With Plan to Sell Genesis Trading Unit as Part of Bankruptcy
“Under the settlement, DCG would contribute that entity, [Genesis Global Trading], to [Genesis Global Holdco] … that will happen on the effective date,” O’Neal said. “In ...
Gemini to contribute $100 million to Genesis bankruptcy recovery plan
Cameron and Tyler Winklevoss. Adam Jeffery | CNBC Crypto exchange Gemini will contribute up to $100 million in cash, earmarked for its customers, as part of an agreement with bankrupt Genesis Global C...
FTX Bankruptcy Lawyers Say Independent Examiner Would Put Assets at Risk
The judge overseeing the FTX bankruptcy proceeding still hasn’t decided whether he will appoint an independent examiner after a 4-hour hearing that included testimony from FTX CEO John Ray III. ...
Gemini to pump $100 million into Genesis for its bankruptcy recovery
Earn users have seen a fall that no one expected. Their holdings are stuck with withdrawals halted by – now a bankrupt venture – Genesis. Gemini appears to be coming to the rescue of the Earn users by...
Genesis Bankruptcy Restructuring Advances with DCG’s Plan to Sell Trading Division
Digital Currency Group (DCG) and its subsidiary Genesis have reached an agreement with a key group of creditors over the restructuring of its crypto trading business and lending arm, which filed for b...
DCG Creditors Bail Genesis Out of Possible Bankruptcy
Digital Currency Group (DCG) appears to have avoided possible bankruptcy as its sister firms, and Genesis subsidiaries, have reached an agreement with creditors to avoid going under. Digital Currency ...
Genesis, Gemini and DCG reach agreement in bankruptcy court
Genesis, its parent Digital Currency Group, Gemini and other creditors have reached a bankruptcy agreement to recover assets. Sean O’Neal, a lawyer representing the debtors, said the sides agre...
A Twist In FTX Bankruptcy Probe; Judge Wants This
FTX News: Bankruptcy ridden cryptocurrency exchange, FTX that filled for US court protection might have a twist in the proceedings. In the latest developments, the U.S. Department of Justice’s bankrup...
Bed Bath & Beyond’s stock soars as much as 120% as retailer nears bankruptcy
Bed Bath & Beyond Inc.’s stock BBBY, +92.13% spiked as much as 120% Monday even as the retailer indicated it has missed payments to debt holders and could file for bankruptcy. More than 183 ...
Judge delays FTX examiner ruling in hopes of ‘consensual resolution’
A federal bankruptcy court judge in Delaware did not rule on whether to appoint an examiner in FTX’s enormous bankruptcy case, and instead will allow lawyers to discuss a “consensual resolution” on th...
DCG and Genesis branches agree on a restructuring plan: CoinDesk
Digital Currency Group and Genesis subsidiaries have reached an initial agreement on a restructuring plan with a group of the firm’s main creditors, according to CoinDesk. This comes after Gene...
Bed Bath & Beyond Has Nothing But Itself to Blame for Impending Bankruptcy
(Bloomberg) — Bed Bath & Beyond Inc., facing a crisis in late summer as sales plunged and suppliers revolted, insisted its white-collar workers return to the office four days a week. Most Re...
Another Sam Bankman-Fried-owned firm files for bankruptcy
Emergent Fidelity has filed for Chapter 11 bankruptcy following the seizure of its over half a billion dollars worth of Robinhood shares by the US government. The company is co-owned by the disgraced ...
Bankman-Fried’s texts may harm his legal defense
Sam Bankman-Fried just threw a wrench in his criminal trial before it even started. A judge barred Bankman-Fried from using “encrypted or ephemeral” messaging apps like Signal until a court hear...
FTX Judge Considers The Approval To Independent Bankruptcy Investigation
The contagion of the FTX collapse is still ongoing despite its already significant impact on the industry. In today’s news, a U.S. bankruptcy judge is looking to consider the approval of an independen...
FTX Bankruptcy: Crypto Exchange Demands Millions In Political Donations Be Returned
FTX, the bankrupt crypto exchange, has asked for its money back from political figures and committees that received donations from its founder, Sam Bankman-Fried, and others in his regime. The company...
Elon Musk Says He Saved Twitter From ‘Bankruptcy,’ On Track to Breakeven
(Bloomberg) — Elon Musk says Twitter Inc. is “trending to breakeven” after he had to save it from “bankruptcy.” Most Read from Bloomberg The billionaire said in a tweet Sunday that the last thre...
Committee Appointed to Represent Unsecured Creditors in Genesis Global bankruptcy
According to documents filed with the court on February 4, a committee consisting of seven members has been constituted to represent the interests of unsecured creditors in the bankruptcy case involvi...
Elon Musk Claims Twitter Is ‘Trending To Breakeven’ After Warning Of Bankruptcy
Topline Twitter CEO Elon Musk claimed Sunday the social media company is “trending to breakeven,” just months after the wealthiest person in America told staff that “bankruptcy is not out of the quest...
FTX debtors want political donations returned by end of the month
Troubled crypto exchange FTX is asking political figures and groups to return donations linked to former CEO Sam Bankman-Fried and other FTX executives by the end of February. FTX is sending con...
Sam Bankman-Fried’s holding company files for bankruptcy
Emergent Fidelity Technologies, a Sam Bankman-Fried holding company based in Antigua and Barbuda, has filed for bankruptcy protection. According to court records filed on Feb. 3, Emergent Fidelity Tec...
SBF’s Holding Company Emergent Technologies Also Files for Bankruptcy
The latest company in relation to the disgraced FTX founder to file for bankruptcy is the holding firm owned by him and Gary Wang – Emergent Fidelity Technologies. It’s headquartered in Antigua and Ba...