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FTX has received court approval for a significant repayment plan, allowing it to return funds to approximately 98% of its customers worldwide.
Bankruptcy RSS
Virgin Orbit has filed for Chapter 11 bankruptcy after it failed to secure more funding. The announcement comes just days after the firm laid off 85% of its workforce or 675 employees.
The crypto firm Genesis has filed for Chapter 11 bankruptcy in New York, the company said. Three Genesis subsidiaries are involved but some others are not. It plans to get through the process quickly.
The Bahamian authorities have disclosed that they're holding on to $3.5 billion worth of FTX's assets. It took control of them following the company's bankruptcy so they don't go missing.
BlockFi has filed for Chapter 11 bankruptcy just weeks after halting withdrawals. Customers with assets on the platform should be able to file claims during the process to retrieve some assets.
Visa has terminated its global debit card agreements with FTX, which has now declared bankruptcy. The Bahama-based crypto exchange platform had launched crypto debit cards with Visa in October 2022.
Following the recent bankruptcy filing by cryptocurrency exchange FTX, there have now been investigations opened into abnormalities, with findings of assets being moved in "suspicious circumstances."
FTX has filed for Chapter 11 bankruptcy and Sam Bankman-Fried has stepped down as CEO. The firm will now try to monetize its assets to pay back stakeholders, including those who lost their assets.
Twitter could face bankruptcy soon, depending on whether it can start to make money and based on how long the downturn lasts. As a first step, Elon Musk has been pushing for an $8 subscription model.
Google's Russian subsidiary has announced that it will be filing for bankruptcy after authorities seized its bank account making it impossible for the company to pay for salaries and other expenses.
OneWeb has announced that it's filing for bankruptcy. The firm was responsible for launching several internet-providing satellites but the economic situation caused by COVID-19 caused it to fail.
Gionee, a brand that is known better in Asia and for supplying BLU with some of its products, has filed for bankruptcy. The court accepted the application, with the firm owing nearly $2.9 billion.
Having found that the vast majority of its customers and suppliers had been driven away given the recent scandal involving data sourced from Facebook, Cambridge Analytica will soon close down.
After nearly three decades of being in the gaming industry, but having a rough time in the last few years, well-known accessory maker Mad Catz has ceased its operations and filed for bankruptcy.
Dutch telecom retailer The Phone House (bought by Relevant Holdings BV in 2015) has filed for bankruptcy on Monday, February 13, 2017 in the District Court in The Netherlands.
GT Advanced Technologies, which formerly produced sapphire crystals for use in smartphone and other device glass, says it was forced into bankruptcy by shady bait-and-switch tactics from Apple.
Creditors and investors of the bankrupt Bitcoin exchange, Mt. Gox, have proposed to revive the exchange in order to get more returns than they would receive by simply liquidating the assets.
A new report claims that the embattered Bitcoin exchange Mt. Gox has asked a court in Tokyo permission to file for liquidation after filing for bankruptcy protection in late February.
Japanese Bitcoin exchange, Mt. Gox, has revealed that it has found 200,000 missing bitcoins after searching in wallets which used an old format, but is still far from recovering the remaining 650,000.
OCZ Technology, one of the biggest companies that makes solid state drives, has announced that it will file for bankruptcy and that Toshiba has an offer to buy most of OCZ's assets.
Atari's US operations have filed for chapter 11 bankruptcy with the hope that the company will be able to seperate itself from its French parent and will look to raise money using outside investors.
THQ will hold an auction later this month, where companies will be able to bid on individual assets of the game publisher such as games, development studios and more.
THQ has announced it has filed for Chapter 11 bankruptcy protection as it enters an agreement with Clearlake Capital Group to acquire its assets, although other competing bids can be filed.
38 Studios had filed for Chapter 7 bankruptcy, meaning that the company will be liquidated. Meanwhile, a criminal probe into what happened at the game development studio has been launched.
Just when we thought it was nearly over, Psystar has thrown us all a curve-ball and returned from the dead, emerging from the bankruptcy they filed for. The news, which was reported by The...
The company Psystar, infamous for selling Mac clones without Apple's permission, has recently filed for Chapter 11 bankruptcy in Florida. The news comes from the Mac Observer, who believes that this recent event means that...
Warner Bros Entertainment are said to be in the early stages of a Midway acquisition deal, which is reported to be worth $33m. Following the collapse of Midway earlier this year, the Mortal Kombat developer...
Circuit City will close all of its remaining stores on March 8th. This will mark the end of a consumer era as a major electronics chain will vanish from the retail space. Regardless...
On Thursday, Midway Games filed for a chapter 11 bankruptcy, which means it will still plans to stay in operations and not liquidate its stock, to ward off creditors. The company is unlikely to...
The recently merged company between Sirius Satellite Radio, and XM Satellite Radio, have merged into Sirius XM, but along with the merge, came a massive debt that neither company was able to cover. The...
Update: Circuit City has posted a statement on their web site here mentioning that all the store chains liquidated and closed between now and March 2009.Circuit City also posted the number of staff it expects...
One of Denmark's largest software firms, IT Factory, has declared bankruptcy after papers were discovered that indicated its CEO, Stein Bagger, had secretly defrauded the company and embezzled an amount equal to nearly $85 million...
Circuit City, the large electronics chain, has filed for bankruptcy on November 10th. The mega-chain of stores attempted to slash expenditures by closing 155 stores and knocking off 17% of its work force. These drastic...
Last week Novell filed a motion requesting that the court lift SCO's bankruptcy stay so that Novell can obtain UNIX licensing royalties wrongfully retained by SCO. Novell has also filed a motion requesting that SCO...
The SCO Group Inc., licenser of the Unix operating system, filed for bankruptcy protection Friday, drained by unsuccessfully filing lawsuits claiming its software code was misappropriated by developers of the open-source Linux operating system. The...
Following weeks of intense speculation, it seems that the end is finally nigh for Acclaim, after the publisher/developer filed for Chapter 7 bankruptcy at the US Bankruptcy Court in Central Islip, New York. US news...
Company will seek to liquidate assets and pay off as many debts as possible; public announcement to follow as early as tomorrow. Reliable sources close to the executive management team of Acclaim...
After reporting a $25.4 million loss in its last quarter, the troubled publisher reveals it must find new financing by August. Today, Acclaim released its earnings for the financial year ending March 31,...
WorldCom on Sunday filed Chapter 11 bankruptcy protection in the largest U.S. insolvency after the long-distance telephone and data services company buckled under a $3.85 billion accounting scandal and a mountain of "junk-rated" debt. ...
Saw this over on Slashdot, everyone say aaah... Napster, the embattled Internet music upstart which has been offline since July 2001, said Monday it has filed for bankruptcy protection. The...
