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Dispelling common misconceptions about US business failure

In this article, Daniel Etlinger dives deeper into the subject of bankruptcy, dispelling common myths and explaining how businesses and their owners can use bankruptcy to improve themselves. In your experiences helping businesses, what do they often misunderstand about bankruptcy? Bankruptcy is often seen as a failure or a measure of last resort, when in […]

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‘Crypto King’ refused to give up his watch, car and phone in bankruptcy

Aiden Pleterski, the self-proclaimed “Crypto King,” refused to surrender his diamond-set Rolex, Audi, and cellphone to a bankruptcy trustee. According CTV News Torontothe bankruptcy trustee noted that Pleterski owed more than $25 million to 119 investors. Rob Stelzer, Pleterski’s bankruptcy attorney and senior vice-president of Grant Thornton Ltd, told CTV News Toronto that he “has […]

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Show Respect – Court of Appeal Upholds Primacy of Exclusive Jurisdiction Clause in Bankruptcy Proceedings | Hogan Lovells

The case went wrong The appellant in this case was Mr. Guy Kwok-Hung Lam, a Hong Kong resident who founded two groups of companies in the elderly care industry, CP China operating in mainland China and CP US in the United States by through various cross-shareholdings involving a Cayman Group company incorporated in the islands, […]

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Thai Airways International: Central Bankruptcy Court Approves THAI’s Amendment of Business Reorganization Plan

On July 1, 2022, the plan administrator of Thai Airways International Public Company Limited submitted the Business Reorganization Plan Amendment Application (the “Plan”) to the Official Receiver. On July 1, 2022, the Official Receiver convened the meeting of creditors electronically (e-Meeting). The creditors, with the sum total of their debt amount equal to 78.59% of […]

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CannTrust Holdings Inc. makes a proposal under the Bankruptcy and Insolvency Act

VAUGHAN, ON, October 19, 2022 /PRNewswire/ – CannTrust Holdings Inc. (the “Company” or “CTH”), a minority investor in Phoena Holdings Inc. (“Phoena”, formerly CannTrust Equity Inc.) announced today that it has made a proposed division I in accordance with the Bankruptcy and Insolvency Law (Canada) (The Proposal”). Phoena’s operations are not affected by the restructuring […]

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Tether no longer demands commercial paper from stablecoin pools

Tether, the largest stablecoin by market capitalization, claims to have completely purged commercial paper of reserve assets backing its USDT token, though it is still failing to submit to an audit that could prove this claim. On Oct. 13, Tether published a blog post in which the integrity-challenged firm claimed that as of Oct. 12, […]

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How will Sandy Hook families be paid?

As a Connecticut jury on Wednesday announced damages totaling nearly $1 billion against conspiracy theory propagator Alex Jones, the far-right personality proclaimed his poverty. “It’s not gonna happen, no money,” Jones claimed on his livestream. Of course, few believe it. A specialist testified in an earlier lawsuit, Jones and his companies were worth between $130 […]

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Are agreements with health providers contracts or statutory rights?

Saturday, October 15, 2022 The intersection between the Medicare and Medicaid regulatory regimes on the one hand and bankruptcy proceedings on the other continues to be an interesting, often highly contested, source of bankruptcy litigation. In an article in 2016, The health insurance provider’s agreement: is it a contract or not? And why does anyone […]

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Voyager creditors challenge immunity plans for executives in bankruptcy lawsuits

(Bloomberg) – Creditors of Voyager Digital Ltd. are challenging plans to provide directors and officers of the crypto lender immunity from lawsuits related to its descent into bankruptcy. Bloomberg’s Most Read The company’s pending sale to crypto exchange giant FTX appears to be conditioned on Voyager’s top executives receiving “broad releases” from lawsuits, shielding those […]

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Microsoft Patch Tuesday October 2022 Edition

Microsoft released updates today to fix at least 85 security vulnerabilities in its the Windows operating systems and associated software, including a new zero-day vulnerability in all supported versions of Windows that is being actively exploited. However, conspicuously absent from this month’s Patch Tuesday are updates to fix a pair of zero-day flaws exploited last […]

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Patch Tuesday: critical flaws in ColdFusion, Adobe Commerce

Software maker Adobe released security patches for 29 documented vulnerabilities across multiple enterprise products on Tuesday and warned that hackers could exploit the bugs to take full control of vulnerable machines. As part of its planned Patch Tuesday release cycle, Adobe warned that the vulnerabilities could leave Windows and macOS users exposed to arbitrary code […]

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Pink Energy Files Chapter VII Bankruptcy

GIBSON CO., Ind. (WFIE) – After closing in September, Pink Energy filed for bankruptcy on October 7. We told you about a Gibson County woman who had trouble with Pink Energy before it closed. Today we spoke again with the wife, Pam Negron, to hear her thoughts on the ongoing bankruptcy. She says filing for […]

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Thriller That Survived Bankruptcy Goes Into A High-Speed ​​Chase On Netflix

by Rowing Photos We’ve been conditioned to believe that any movie that’s been on the shelf for years isn’t going to be very good, and while that’s an entirely accurate assumption in many cases a forgotten thriller Kidnap was placed on the ice for reasons beyond his control. Director Luis Prieto’s wacky chase movie was […]

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Celsius Network founder withdrew $10 million before bankruptcy

Celsius Network founder Alex Mashinsky withdrew $10 million from the crypto lender just weeks before the company froze customer accounts as it headed for bankruptcy, according to people familiar with the matter. The crypto withdrawals by Mashinsky in May this year came as clients withdrew their assets from the company in large numbers, spooked by […]