Creditors Financial News

Redemption Project CIC’s liquidation marks the second tied to Gurpaal Singh Judge

A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team.

FTX Group unveiled a draft creditor-repayment plan as part of its bankruptcy that calls for settling customer claims in cash and wiping out its digital token FTT. 

edtech startup's $1.2 billion term loan, have agreed to work towards amending that loan by Aug. 3, the steering committee of the creditors group said on Monday.

Go Airlines (India) Ltd has received claims worth Rs 24,000 crore ($2.9 billion) from operational and financial creditors so far as part of the carrier's ongoing insolvency, two banking sources told Reuters. The process is in line with procedural requirements under Indian law which allow every creditor a right to payment and remedy by submitting claims if a company is under bankruptcy. Once the claims are filed, the resolution professional has to check its authenticity. «Claims from the lenders are around Rs 5000 crore, while lessors' claims amount to Rs 180 crore so far,» a banker with a state-run bank, who has exposure to Go Airlines said, after a meeting of the committee of creditors on Friday. The bankers did not wish to be identified because they were not authorised to speak to the media. Go Airline's resolution professional has yet to verify the veracity of the claims and did not immediately respond to a Reuters' email seeking comment.

China Evergrande, the property developer whose woes helped bring about a slump in the country’s vitally important real estate market, has reported its debts rose further to about $340 billion by the end of last year

Jet Airways creditors on Monday told the Supreme Court that the resolution plan of the consortium of Jalan-Fritsch was unviable and unworkable. The ASG said that not even a single penny has been paid to lenders or infused in the debt-laden airline. On the contrary, the lenders have infused public money of around Rs 400 cr including airport dues.

(Reuters) — A U.S. court of appeals on Friday rejected Venezuela's bid to prevent six companies from joining a proposed court auction of shares in a Citgo Petroleum parent to enforce judgments for past expropriation of assets.

A crypto platform Voyager filed for bankruptcy a year ago, in July 2022, due to substantial losses caused by the bear market and the collapse of the Terra blockchain. 

New York-based law firm McDermott Will & Emery filed for compensation of $5.1 million from the creditors of bankrupt crypto brokerage firm Voyager Digital. The bill is for legal services offered between March 1 and May 13, 2023.

The co-founders of collapsed crypto hedge fund Three Arrows Capital (3AC) have pledged to donate a portion of earnings from their newest crypto venture to creditors who lost money in the fund’s 2022 collapse.

Creditors of bankrupt cryptocurrency lending platform Celsius have alleged that crypto market maker Wintermute assisted Celsius executives in manipulating the prices of CEL (CEL) through the use of “wash trading.”

The United States Securities and Exchange Commission (SEC) has agreed to postpone the payment of a $30 million fine from bankrupt crypto lender BlockFi until creditors are paid back. The amount represents the balance of a $50 million settlement with the regulator from February 2022. 

Crypto veteran Loomdart is supporting an FTX reboot as a way to make creditors whole and increase trust in the industry. 

Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan.

Creditors of the bankrupt Canadian crypto exchange QuadrigaCX are set to receive 13% of their total claims as part of an “interim dividend.”

Funds stuck on the platform of bankrupt crypto broker Voyager Digital may begin returning to creditors in "the next few weeks," according to a committee of Voyager creditors.

Defunct crypto lender Celsius Network is looking to combine its United Kingdom and United States entities as new court filings allege that any supposed distinction between the two companies was a “sham.”

Celsius creditors claim that some FTX users have engaged in suspicious trades that may have manipulated the price of the Celsius (CEL) token in 2022. The creditors are seeking the help of a bankruptcy judge to unmask the users in question.

Creditors of Singapore-based cryptocurrency lender have again expressed their desire to liquidate the company, which has been under judicial management since August 2022. There is no white knight investor on the horizon, interim judicial manager (IJM) Aaron Loh Cheng Lee explained in a circular updating the case.  

Sotheby's is preparing to host an auction for a collection of non-fungible tokens (NFTs) seized from now-defunct crypto hedge fund Three Arrows Capital.