FTX to Dispense $1.6 Billion in Bankruptcy Repayments This Month► https://t.co/hMdvJzBTkz https://t.co/hMdvJzBTkz ...

FTX will begin its third bankruptcy distribution on September 30, allocating an additional $1.6 billion to creditors. The round covers both convenience and non-convenience classes, with prior distributions having returned approximately 120% of November 2022 account balances to convenience class creditors. https://t.co/ZmxwjinfUZ ...

(Bloomberg) -- The trustee overseeing bankrupt Tricolor Holdings is seeking control of roughly 100,000 subprime auto loans originated by the lender, looking to hold them under court supervision while determining how to distribute proceeds to creditors.  Tricolor filed for bankruptcy on Sept. 10 with plans to liquidate following allegations of fraud. Speaking at the company’s first court hearing on Thursday, trustee attorney Charles Gibbs said it took nearly a week to get into Tricolor’s headquarters, whil ...

Spirit pilots are assessing the financial data behind the bankrupt company’s demand for $100 million in annual contract concessions before deciding whether to agree https://t.co/ptidxBdrEA ...

Financial Situation - A single mother in Los Angeles earns $142,000 annually and is considering bankruptcy due to approximately $100,000 in credit card debt, a $4,800 mortgage, and a $125,000 home-equity line for a guesthouse [1] - Her monthly take-home pay is about $9,000, with over half allocated to her mortgage, which does not cover the $1,100 payment on her home-equity loan [2] - The property is valued at nearly $1 million, but she owes about $650,000, having initially put down only 3% and later refinancing, which increased her interest rate [3] Expert Advice - Co-host George Kamel suggests that the caller is focused on the wrong fear, emphasizing the urgency of her financial situation with a quarter-million dollars in debt [4] - Kamel recommends selling the property before considering bankruptcy, as this could eliminate her mortgage, credit card debt, home-equity line, and student loans, leaving her debt-free with cash [5] Rental Income Concerns - The caller hopes to generate $2,500 monthly from a newly built guesthouse once permits are approved, but expresses concerns about safety and potential squatters [6] - Kamel and co-host Jade Warshaw question the feasibility of this plan, noting that even with a net profit of $1,000 per month, it would take about 10 years to recoup the $125,000 spent on construction while still managing existing mortgage and loan payments [7]

Linqto, a San Jose-based fintech startup that filed for Chapter 11 bankruptcy, has agreed to a deal to repay customers. Linqto pitched retail investors the chance to buy into coveted firms such as Ripple Labs and Elon Musk’s SpaceX ahead of IPOs. But court filings revealed that Linqto structured the investments through special purpose vehicles (SPVs) owned by the company itself, not by individual customers. That meant users never held the shares they thought they had purchased. Related: Linqto, platform ...

NEW YORK (AP) — For decades, Publishers Clearing House doled out hefty checks on the doorsteps of hopeful consumers across the U.S., including prizes that boasted lifetime payouts. But some of those winners are now facing an end to the “forever” money they were once promised. The turmoil arrives amid PCH's ongoing bankruptcy process. The sweepstakes and marketing company filed for Chapter 11 in April, citing growing financial strain that spanned from rising operational costs and changes in consumer behavi ...

All right. Let's take a look back at this day in history. Back in 2008, when Lehman Brothers, the fourth largest U.S. investment bank, became the biggest bankruptcy filing in history.The 158 year old firm, which had survived the railroad industry turmoil in the 1800s, the Great Depression in the 1930s, and the collapse of long term capital management in the nineties finally succumb to crisis itself. The subprime mortgage crisis that in effect helped to create is one of the biggest underwriters of the asset ...

Core Viewpoint - A Delaware bankruptcy judge has ordered creditors of Mawson Infrastructure Group Inc. to post a bond and pay fines due to potential bad faith in filing an involuntary Chapter 11 petition against the company [2][4]. Group 1: Legal Proceedings - The judge found sufficient evidence to question the legitimacy of the involuntary Chapter 11 petition, suggesting possible collusion with former CEO James Manning [2]. - Creditors were found in contempt for pursuing liquidation proceedings in Australia, violating the automatic stay triggered by Mawson's U.S. bankruptcy [3][4]. - The creditors are required to post a $1.5 million bond and pay $204,000 in contempt fines [4]. Group 2: Company Background - Mawson Infrastructure Group is a cryptocurrency mining company focused on digital asset infrastructure and energy-efficient bitcoin mining, founded in 2019 in Sydney, Australia [4]. - The company expanded operations to the U.S. and other regions, positioning itself as a "digital infrastructure provider" [4]. Group 3: Allegations Against Former CEO - Mawson has alleged that the bankruptcy petition is part of a vendetta by former CEO James Manning, who served from the company's founding until May 2023 [6]. - Allegations include Manning engaging in "self-dealing," with over $11 million in payments to a shipping company that Mawson claimed it did not need [7]. - The company reported a 75% drop in stock price since the involuntary petition was filed and faces potential delisting from Nasdaq [9].

Core Insights - Beyond Meat currently has a market capitalization of just under $200 million, trading at $2.53 per share, indicating a significant decline in value and a high risk of bankruptcy for equity investors [1] Group 1: Company Overview - Beyond Meat is facing severe financial challenges, as evidenced by a disastrous earnings report for the second quarter [1] - The company is at risk of leaving equity investors with nothing in the event of bankruptcy, highlighting the precarious nature of its financial situation [1] Group 2: Investment Strategy - Daly Asset Management, a Maryland-based C-Corp, focuses on deep value investments and companies with unrecognized growth potential, aiming to aggressively grow owners' assets [1] - The firm plans to publish research weekly to provide insights into its investment portfolio [1]