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]

Tricolor, a lender to low-income borrowers, files for bankruptcy, raising potential bank losses and triggering fraud probes https://t.co/6p1X4oU7KU ...

No, you’re not experiencing déjà vu – Spirit Airlines has filed for bankruptcy again, its second time in less than 12 months. After emerging from bankruptcy in March of this year, Spirit failed to make any traction with its cost-cutting initiatives and filed for bankruptcy protection again in August. Two bankruptcies in less than a year are naturally the result of a combination of headwinds as Spirit faces significant hurdles on its path to restoration. Not only are wealthier airline companies eating into u ...

US Trustee Calls Out 'Dishonest Debtor' in $12.5M Crypto Bankruptcy Case► https://t.co/wvTI4D5HJw https://t.co/wvTI4D5HJw ...

Spirit Airlines' second bankruptcy filing in less than a year doesn't seem to bode well for the ultra-low-cost carrier business. One rival's shares rose today anyway. https://t.co/gvXgg5QnZs ...

Medical transportation firm Modivcare filed for bankruptcy in an effort to shed $1.1 billion of debt, after federal health-care funding cuts complicated the company’s future finances https://t.co/MXy901E98D ...