Bankruptcy

According to a recent article on Law360, federal authorities have reportedly struck a deal to confiscate and sell two private jets belonging to FTX US executives over allegations of illegal activities. The jets, reported to be worth millions of dollars, are purportedly linked to criminal activities, prompting the government’s intervention. This agreement marks a significant

Amid challenges in the market, an IT recruiting company has taken a significant step by filing for Chapter 11 bankruptcy protection. The company, based in San Antonio, made this move recently, marking a notable development in its operations. It comes as a response to financial difficulties, allowing the company to reorganize its affairs under the

Endo, a pharmaceutical company, has received approval from a U.S. court for its bankruptcy restructuring. This move allows the company to reorganize its financial affairs under court supervision. Endo faced various legal challenges, including lawsuits related to its opioid products. The bankruptcy filing is part of its strategy to address these liabilities and move forward.

In a recent development, Celsius, the well-known cryptocurrency firm, is reportedly seeking the return of $2 billion that was withdrawn just before declaring bankruptcy. The company, which has faced financial turmoil, is working towards recovering these substantial funds. Celsius, known for its digital asset services, encountered challenges as it filed for bankruptcy protection. The firm

In Atlanta, Morris Manning & Martin, a law firm, has welcomed a new partner after some team members left following a bankruptcy. The addition of the partner is seen as a strategic move to strengthen the firm’s capabilities in light of recent changes. The arrival of the new partner comes as part of the firm’s

In a recent development, Mexican tech recruitment firm CodersLink declared bankruptcy, facing challenges amid the global pandemic. The company cited a decrease in demand for its services, leading to financial strain. Despite initial success, CodersLink struggled as its primary market, the U.S., enforced stricter regulations on visa applications. This change affected the firm’s ability to

In a significant turn of events, MaaS Global, a leading Mobility as a Service provider, has filed for bankruptcy due to financial challenges. This development reflects the harsh realities of the competitive transportation industry – showcasing how even innovative ventures can face difficulties. MaaS Global’s declaration brings into question the sustainability of novel business models

A bankruptcy filing by Petersen Health, a nursing home operator, points to a potential breakup of the company during the sale. This move follows a decline in the nursing home industry coupled with financial challenges faced by Petersen Health. Once a renowned player in the nursing home sector, Petersen Health now finds itself in a

FTX, a prominent cryptocurrency exchange, anticipates a significant drop in its bankruptcy claim from an initial estimation of $11 billion down to between $3 billion to $5 billion. This forecast reflects a potential alleviation in the financial burden the company faces due to the collapse of Archegos Capital Management. Before, the expectation stood at a