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FTX Gets Court Permission to Sell Its LedgerX Business to Raise Funds for Repaying Creditors
Bankrupt crypto exchange FTX received US bankruptcy court permission on Thursday to sell its LedgerX business for $50 million (nearly Rs. 408 crore), raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, US Bankruptcy Judge John Dorsey signed off on FTX's sale of LedgerX, its non-bankrupt crypto derivatives trading plat...
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FTX Tells Creditors $415 Million in Crypto Assets Was Stolen by Hackers
FTX informed creditors on Tuesday that $415 million (roughly Rs. 33,90 crore) in cryptocurrency was stolen from the collapsed exchange by hackers. The exchange's founder, Sam Bankman-Fried, faces fraud charges in the US after he was extradited from the Bahamas. FTX recently told a US bankruptcy court it recovered over $5 billion (roughly Rs. 40,850...
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Debt Restructuring Talks With India Were "Successful": Sri Lanka President
Sri Lanka, which is trying to secure a $2.9 billion bridge loan from the International Monetary Fund (IMF), is also looking at financial assurances from its major creditors - China, Japan, and India.
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Flood-Hit Pakistan Should Suspend Debt Repayments, Says UN Paper: Report
Pakistan should suspend international debt repayments and restructure loans with creditors after recent floods added to the country's financial crisis, the Financial Times reported on Friday, citing a UN policy memo.
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China Debt-Traps Nations With Confidentiality Clauses: Report
China, which is the world's largest creditor, is shockingly using confidentiality clauses barring borrowers from revealing terms and conditions of the engagement or even the existence of the debt itself.
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Grounded Jet Airways' Resolution Plan Approved By Creditors
Jet Airways once operated a fleet of more than 120 planes serving dozens of domestic destinations and international hubs such as Singapore, London and Dubai.
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Hertz Files For U.S. Bankruptcy Protection As Car Rentals Evaporate In Pandemic
The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much-needed relief.Hertz's board earlier in the day approved the company seeking Chapter 11 protection in a U.S. bankruptcy cour...
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Debt-Hit Jet Currently Flying 15 Aircraft On Domestic Routes, Says Government: 10 Points
Less than 15 aircraft of Jet Airways are currently operational, a government official said on Wednesday. Civil Aviation Secretary Pradeep Singh Kharola said Jet Airways' current fleet is 28 planes, including 15 aircraft in domestic operations. The statement from the government official comes a day after the airline said it had grounded an additiona...
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Essar Steel Creditors' Panel Chooses ArcelorMittal's Rs 42,000-Crore Joint Bid
The news comes just a day after founders of Essar Steel came in with a surprise offer to pay Rs 54,389 crore to creditors to settle claims.
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Anil Ambani Telecom Is High-Profile Default On International Debt
It's India's most high-profile default on international debt since the nation's insolvency and bankruptcy code was passed in May 2016.
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International Monetary Fund To Participate For Last Time In Greek Bailout
The International Monetary Fund, a key creditor in Greece's bailout, will not participate in any further rescues of the debt-wracked country, Germany's finance minister told a Greek newspaper Saturday.
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European Union, Greece Seek Bailout Deal By Friday
Greece and its international lenders remained at odds in talks to release fresh bailout loans to Athens on Wednesday as Prime Minister Alexis Tsipras said a deal was needed this week and accused creditors of 'playing games' and causing delays.
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Lawsuit Over Audits Seeks $5.5 Billion From PricewaterhouseCoopers
Accounting giant PricewaterhouseCoopers squared off on Tuesday in court with lawyers for a defunct mortgage company's creditors and investors over a $5.5 billion lawsuit, which claimed the Big Four firm failed through years of audits to uncover massive fraud at a failed Alabama bank.
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Greek PM Alexis Tsipras Vows To Implement Pension Reform At Anniversary Rally
Leftwing Greek Prime Minister Alexis Tsipras, at a rally Sunday to mark a year in power, stood by a vow to overhaul the country's pension system despite fierce opposition.
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Greece Inks Deal with Creditors to Unlock 12-Billion Euros: Minister
Greece has struck a deal with its international creditors to unblock some 12 billion euros in much-needed loans, Finance Minister Euclid Tsakalotos said on Tuesday after marathon talks.
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FTX Gets Court Permission to Sell Its LedgerX Business to Raise Funds for Repaying Creditors
Bankrupt crypto exchange FTX received US bankruptcy court permission on Thursday to sell its LedgerX business for $50 million (nearly Rs. 408 crore), raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, US Bankruptcy Judge John Dorsey signed off on FTX's sale of LedgerX, its non-bankrupt crypto derivatives trading plat...
-
FTX Tells Creditors $415 Million in Crypto Assets Was Stolen by Hackers
FTX informed creditors on Tuesday that $415 million (roughly Rs. 33,90 crore) in cryptocurrency was stolen from the collapsed exchange by hackers. The exchange's founder, Sam Bankman-Fried, faces fraud charges in the US after he was extradited from the Bahamas. FTX recently told a US bankruptcy court it recovered over $5 billion (roughly Rs. 40,850...
-
Debt Restructuring Talks With India Were "Successful": Sri Lanka President
Sri Lanka, which is trying to secure a $2.9 billion bridge loan from the International Monetary Fund (IMF), is also looking at financial assurances from its major creditors - China, Japan, and India.
-
Flood-Hit Pakistan Should Suspend Debt Repayments, Says UN Paper: Report
Pakistan should suspend international debt repayments and restructure loans with creditors after recent floods added to the country's financial crisis, the Financial Times reported on Friday, citing a UN policy memo.
-
China Debt-Traps Nations With Confidentiality Clauses: Report
China, which is the world's largest creditor, is shockingly using confidentiality clauses barring borrowers from revealing terms and conditions of the engagement or even the existence of the debt itself.
-
Grounded Jet Airways' Resolution Plan Approved By Creditors
Jet Airways once operated a fleet of more than 120 planes serving dozens of domestic destinations and international hubs such as Singapore, London and Dubai.
-
Hertz Files For U.S. Bankruptcy Protection As Car Rentals Evaporate In Pandemic
The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much-needed relief.Hertz's board earlier in the day approved the company seeking Chapter 11 protection in a U.S. bankruptcy cour...
-
Debt-Hit Jet Currently Flying 15 Aircraft On Domestic Routes, Says Government: 10 Points
Less than 15 aircraft of Jet Airways are currently operational, a government official said on Wednesday. Civil Aviation Secretary Pradeep Singh Kharola said Jet Airways' current fleet is 28 planes, including 15 aircraft in domestic operations. The statement from the government official comes a day after the airline said it had grounded an additiona...
-
Essar Steel Creditors' Panel Chooses ArcelorMittal's Rs 42,000-Crore Joint Bid
The news comes just a day after founders of Essar Steel came in with a surprise offer to pay Rs 54,389 crore to creditors to settle claims.
-
Anil Ambani Telecom Is High-Profile Default On International Debt
It's India's most high-profile default on international debt since the nation's insolvency and bankruptcy code was passed in May 2016.
-
International Monetary Fund To Participate For Last Time In Greek Bailout
The International Monetary Fund, a key creditor in Greece's bailout, will not participate in any further rescues of the debt-wracked country, Germany's finance minister told a Greek newspaper Saturday.
-
European Union, Greece Seek Bailout Deal By Friday
Greece and its international lenders remained at odds in talks to release fresh bailout loans to Athens on Wednesday as Prime Minister Alexis Tsipras said a deal was needed this week and accused creditors of 'playing games' and causing delays.
-
Lawsuit Over Audits Seeks $5.5 Billion From PricewaterhouseCoopers
Accounting giant PricewaterhouseCoopers squared off on Tuesday in court with lawyers for a defunct mortgage company's creditors and investors over a $5.5 billion lawsuit, which claimed the Big Four firm failed through years of audits to uncover massive fraud at a failed Alabama bank.
-
Greek PM Alexis Tsipras Vows To Implement Pension Reform At Anniversary Rally
Leftwing Greek Prime Minister Alexis Tsipras, at a rally Sunday to mark a year in power, stood by a vow to overhaul the country's pension system despite fierce opposition.
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Greece Inks Deal with Creditors to Unlock 12-Billion Euros: Minister
Greece has struck a deal with its international creditors to unblock some 12 billion euros in much-needed loans, Finance Minister Euclid Tsakalotos said on Tuesday after marathon talks.
