Settlement Financial News

According to a legal filing on August 16, FTX, the bankrupted cryptocurrency exchange, and its CEO, John J. Ray III, have submitted a motion to settle with Genesis entities for $176 million.

A federal judge on Wednesday declined to approve a proposed settlement in a class-action lawsuit prompted by a surge in Hyundai and Kia vehicle thefts, saying it fails to provide “fair and adequate” relief to vehicle owners

FTX, the troubled cryptocurrency exchange, and its CEO John J. Ray III have filed a motion seeking to reach a settlement of $176 million with Genesis entities. 

Delhivery and Go First have failed, the counsels for both parties informed the National Company Law Tribunal on Thursday. Go First's resolution professional at the last hearing claimed they were trying to settle the matter with Delhivery. The logistics provider had filed an application claiming that the voluntary insolvency petition filed by the beleaguered airline on May 2 was «malicious and fraudulent».

National Company Law Tribunal on Wednesday allowed GE Power to withdraw its insolvency petition against public sector undertaking, Bharat Heavy Electricals Ltd, with the liberty to revive if the operational debt is not settled. Counsels for GE Power Akshay Sapre, along with Abhijit Swarup and Aneesha Rastogi from The Guild, a law firm, informed the tribunal that BHEL had sent a letter to GE Power to settle Rs 25 crore of debt amount owed to GE Power.

A federal judge on Wednesday declined to approve a proposed settlement in a class-action lawsuit prompted by a surge in Hyundai and Kia vehicle thefts, saying it fails to provide “fair and adequate” relief to vehicle owners

New Jersey has accepted a revised settlement over chemical dumping that turned a Jersey Shore community into one of America’s most notorious toxic waste cleanup sites

sends a message” to deter others from posting explicit photos of people online without their consent, the woman’s lawyers said Friday.The woman, who was identified only as D.L., was in a four-year-long relationship with a man named Marques Jamal Jackson before the pair broke up in 2021.According to a harassment lawsuit filed by D.L. in 2022, Jackson posted intimate images of her to the internet after they split up “with the intent to embarrass, harass, torment, humiliate, and publicly shame” her.He then sent links to the explicit materials to D.L.’s friends, family and co-workers, which were posted to Facebook, Twitter, Dropbox and even Pornhub, her lawyers said.

For the first time ever India has settled an oil t... moreFor the first time ever India has settled an oil transaction with UAE in rupees.

Bankrupt crypto lender Celsius can start sending out ballots to its customers for a vote on a proposed settlement plan that would see a consortium called Fahrenheit buy Celsius’ assets and launch a new company. That company would distribute Celsius assets and equity in the new company to its customers. 

UBS Group said it agreed to pay $1.44 billion to settle a case with the Department of Justice regarding how it handled residential mortgage-backed securities. 

Hero MotoCorp Ltd's Sunil Kant Munjal exited from the management and has resigned as joint managing director, the company said in an exchange filing. “Sunil Kant Munjal, hereinafter refer to as an ‘Individual’ shall exit from the management and control of Hero MotoCorp Limited, including any position held as Joint Managing Director," said the company. The company obtained a family settlement agreement from the promoter group.

The chief legal officer at Fox Corp. who oversaw a $787 million settlement with Dominion Voting Systems over defamation allegations against Fox News is leaving the company

Rep. Ro Khanna, D-Calif., discusses the ongoing troubles within the airline industry and growing AI fears as Hollywood writers and actors continue to strike.

(Reuters) -Fox Corp said on Friday that Chief Legal Officer Viet Dinh was stepping down, a high-profile exit that follows its $787.5 million settlement in April of a defamation lawsuit filed by Dominion Voting Systems over its 2020 U.S. election coverage.

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The firm's former CEO William Shihara and its foreign affiliate, Bittrex Global, have also agreed to settle charges.The SEC charged Bittrex in April, saying the firm provided services to US investors in connection with crypto assets that were offered and sold as securities.In addition, the regulator alleged that Bittrex and Shihara directed issuers who sought to have their crypto assets made available for trading on the platform to first delete from public channels certain “problematic statements” that Shihara believed would lead a regulator to investigate whether the crypto asset was offered and sold as a security. “For years, Bittrex worked with token issuers to 'scrub' their online statements of any indicia that they were investment contracts—all in an effort to evade the federal securities laws.

The United States Securities and Exchange Commission (SEC) has announced an agreement with crypto trading platform Bittrex and co-founder and former CEO William Shihara for operating an unregistered exchange.

Amid the approaching deadline for opting out of the current $22-million settlement with Block.one (B1), the EOS Network Foundation (ENF) has called on plaintiffs to drop the lawsuit.

Also read: Will the rupee emerge as a global currency? During the Joint Trade Sub-Commission (JTSC) meeting held in New Delhi on August 8, India engaged in discussions regarding the possibility of establishing a bilateral currency trade settlement with Vietnam. Vietnam stands as India's fifth-largest trading partner within the Association of Southeast Asian Nations (ASEAN) region, contributing to 11.2 percent of India's overall trade with ASEAN in the fiscal year 2022-23.

Kirloskar Brothers is the first company to disclose its promoters' entire 'deed for family settlement' (DFS)- an agreement between the family members regarding the distribution of assets and properties — as per the Securities and Exchange Board of India's new disclosure requirements. In an exchange filing, the company disclosed the DFS dated September 11, 2009, signed by Atul, Rahul, Sanjay, Gautam, and Vikram Kirloskar.