Chapter 11 Bankruptcy

Cryptocurrency exchange Gemini has initiated legal proceedings against Digital Currency Group (DCG) and its CEO, Barry Silbert, accusing them of misleading creditors. Gemini, in a court document submitted on July 7 in New York, accused DCG and Silbert of partaking in a plot that involved loaning...

The U.S. Securities and Exchange Commission (SEC) consented to defer the collection of a $30 million fine from the insolvent crypto lending platform BlockFi until such time as the investors have been reimbursed. What Happened: Initially, BlockFi was under obligation to pay a $50 million penalty to...

The doctor staffing company Envision Healthcare declared bankruptcy five years after KKR & Co Inc's (NYSE: KKR) $10 billion leveraged purchase that took Envision Healthcare private.  The move will likely wipe out the $3.5 billion stake that private equity...

On Sunday, Athenex Inc (NASDAQ: ATNX) and certain of its subsidiaries voluntarily filed for Chapter 11 proceedings. Athenex agreed with its lenders to move forward with an expedited sale process of its assets, the company said in a statement. The company has listed estimated assets...

Bed Bath & Beyond Inc (NASDAQ: BBBY) shares are trading lower in Tuesday's after-hours session after the company received a delisting notice from the Nasdaq. What Happened: The Nasdaq sent a notice to Bed Bath, informing the company that it has decided to delist its...

Home furnishings retailer Bed Bath & Beyond Inc. (NASDAQ:BBBY) plummeted on Monday after it confirmed that it has filed for Chapter 11 bankruptcy protection. Former hedge fund manager Whitney Tilson weighed in on the development. What Happened: Tilson, the founder and CEO of investment advisory...

National CineMedia, Inc (NASDAQ: NCMI) disclosed filing a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas. On April 11, the cinema advertising network shared the bankruptcy update to facilitate its debt restructuring. The company announced a...

On Tuesday, Cineworld Group PLC (OTC: CNNWQ) (OTC: CNWGQ) said it had filed a reorganization plan in a Texas bankruptcy court to dissolve existing shareholdings effectively. The filing formalizes the cinema chain operator's April 3 deal that includes plans to cut debt by...

Richard Branson‘s Virgin Orbit Holdings Inc (NASDAQ:VORB) has filed for Chapter 11 bankruptcy, a day after flagging substantial doubt about its ability to continue as a going concern for at least 12 months. What Happened: Virgin Orbit lodged the Chapter 11 bankruptcy filing in the U.S....

Codiak BioSciences Inc (NASDAQ: CDAK) voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and will seek to pursue a sale process for its assets. The company began a marketing process ahead...

Creditors of the collapsed cryptocurrency exchange FTX have approved a proposal to sell its preferred stock in Mysten Labs, the developer of the Sui blockchain. A March 22 document filed with the U.S. Bankruptcy Court in the District of Delaware outlines a proposed arrangement between FTX creditors...

SVB Financial Group (NASDAQ: SIVB) has filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value. SVB Securities, SVB Capital's funds, and general partner...

Lucira Health Inc (NASDAQ: LHDX) filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.  The company further disclosed that it intends to pursue a sale of its business under Section 363 of the...

COVID-19 drug and vaccine developer Sorrento Therapeutics Inc (NASDAQ: SRNE) is filing for bankruptcy following a lengthy legal dispute. The biotech submitted its Chapter 11 filing, per an SEC filing, after losing an arbitration battle to billionaire Patrick Soon-Shiong's...

Coin Cloud, a Las Vegas-based company that operated more than 4,000 Bitcoin ATMs in the U.S. and Brazil, declared Chapter 11 bankruptcy. The court filing estimated the company's liabilities to be between $100 million and $500 million, with Genesis Global Trading, a subsidiary of...