bankruptcy

Co-founder and former CEO of WeWork Inc. (OTC:WEWKQ), Adam Neumann, along with his capital providers, including Dan Loeb‘s Third Point, are considering making an offer to purchase WeWork out of bankruptcy. What Happened: Neumann and Third Point have been attempting to acquire crucial...

In a recent episode of “Shark Tank,” Ramon van Meer, the CEO and founder of Genius Litter, managed to secure a deal with Mark Cuban after a heated bidding war among the investors. Why It Matters: The Austin-based company, which offers color-changing cat litter to alert pet owners of...

Rudy Giuliani, the former lawyer for Donald Trump, has included a claim against the ex-president for unpaid legal fees in a recent bankruptcy filing. The bankruptcy filing, dated Jan. 26, includes a “possible claim” for unpaid legal fees from the ex-president, marking a new twist...

Mark Cuban, the billionaire investor and co-owner of the Dallas Mavericks, has seen one of his investments take a turn for the worse. What Happened: Sorfeo Inc., a Northern Virginia-based startup, has filed for Chapter 7 bankruptcy, as reported by Washington Business Journal. The company, which...

In a recent development, radio and podcast titan Audacy Inc (OTC:AUDA) has applied for Chapter 11 bankruptcy protection. This move comes in the wake of a notable slump in the company’s advertising revenues. What Happened: The Philadelphia-based broadcasting firm unveiled an extensive...

In a significant development, Beijing’s court has accepted the application for bankruptcy liquidation from Zhongzhi Enterprise Group, a renowned wealth management firm in China. What Happened: The Beijing-based wealth management company, which has substantial exposure to China’s real...

In 2023, U.S. bankruptcy filings experienced an 18% surge due to higher interest rates, stricter lending standards, and the continuing tapering of pandemic-era supports. This indicates a likely increase in insolvency cases in 2024, even though the numbers remain below pre-COVID-19 levels. What...

Tesla Inc (NASDAQ:TSLA) is fighting a former employee’s attempt to use bankruptcy as a shield against a $425,000 legal debt originating from a longstanding feud with CEO Elon Musk. What Happened: Tesla appealed to a bankruptcy judge on Tuesday to hold ex-employee Martin Tripp responsible for...

Genesis won a bid to block its parent company, the Barry Silbert-led Digital Currency Group (DCG), from selling or reducing ownership in the company. What Happened: Until Genesis closes its Chapter 11 proceedings, it can receive certain tax benefits which will be applicable only if the company...

This story was first published on the Benzinga India portal. Under the helm of Robin Raina, Ebix Inc. (NASDAQ: EBIX) has declared bankruptcy in the U.S. amidst a towering debt exceeding $600 million. This development has thrown a shadow of uncertainty over the future of the company's...

In its final move to end the bankruptcy case, FTX has taken a step forward to launch a yet-to-be-approved proposal for returning money to creditors. What Happened: FTX Trading (CRYPTO: FTT) looks to end its bankruptcy case by launching a proposal to return significant money to customers and...

Crypto lender Genesis announced its agreement to pay $33 million to Three Arrows Capital (3AC) to settle the hedge fund's $1 billion in claims. This news comes on the heels of Benzinga’s Future Of Digital Assets Event in New York scheduled on Nov.14. Attend and learn more about...

Office-space provider, WeWork (NYSE:WE), has filed for Chapter 11 bankruptcy protection, as it faces liabilities between $10 billion and $50 billion. What Happened: The filing is limited to the company’s locations in the U.S. and Canada, CNBC reported. The firm stated...

The U.S. government said the bankruptcy plan by Genesis haf material changes and they should be reviewed again by the company. What Happened: Crypto lender Genesis indicated in its updated bankruptcy plan that it now planned to liquidate assets and not sell them or...

WeWork Inc (NYSE: WE), the co-office space start-up that was once valued at nearly $50 billion (more than the market cap of Ford), will reportedly file for bankruptcy next week. The stock is now down more than 99% from its listing price but remains above $1 a share.  Shares of companies that...