@andybrwn Massive driving #subsidies like #freeparking, #killerroads, and ultra high #emission zones drive #EV #bus manufacturers into #chapter11 - fixed the headline.

#DeterioratingCarbonSinks

The ruling marked the first major repudiation of an emerging legal strategy with the potential to upend U.S. #corporate #liability law. The strategy called Texas two-step was designed to address asbestos-related #lawsuits & involves creating a #subsidiary to absorb the #liabilities and to immediately file #Chapter11 @ Georgia Pacific, Saint-Gobain, Trane Technologies and Johnson & Johnson
https://www.reuters.com/legal/jjs-ltl-units-bankruptcy-dismissed-by-us-appeals-court-filing-2023-01-30/

#Terra/#Luna, #Celsius, #FTX, and now #CoreScientific (#CORZ): The #crypto "currency" world shows continuity this year.

Some of the biggest names have disappeared or are under bankruptcy protection (#Chapter11) or will be filing today. And you've probably heard the rumors that #Binance is in trouble as well.

https://www.cnbc.com/2022/12/20/bitcoin-miner-core-scientific-filing-for-bankruptcy-will-keep-mining.html

Judge Lopez lifted the automatic stay to allow the Sandy Hook families to finalize their judgment and for Jones to pursue appeals.

This is a fairly common thing to do in bankruptcy as the families have agreed not to collect on any final judgments. Once the judgments are final, the families would be in line to collect from any assets in the bankruptcy estate or pursue other remedies.

#AlexJones #Chapter11 #Bankruptcy

https://www.rawstory.com/alex-jones-bankruptcy-2658986002/

Judge Lopez lifted the automatic stay to allow the Sandy Hook families to finalize their judgment and for Jones to pursue appeals.

This is a fairly common thing to do in bankruptcy as the families have agreed not to collect on any final judgments. Once the judgments are final, the families would be in line to collect from any assets in the bankruptcy estate or pursue other remedies.

#AlexJones #Chapter11 #Bankruptcy

https://www.rawstory.com/alex-jones-bankruptcy-2658986002/

Some thoughts on the Alex Jones bankruptcy, a brief 🧵 :

If you are a scofflaw, filing bankruptcy is a terrible idea. For one, bankruptcy fraud is a big boy federal crime, and it is one of the areas of criminal law where arrogant rich people tend to actually be punished. (See the various Real Housewives castmembers who have been incarcerated...) In bankruptcy, you have very few options to keep secrets, and doing so can itself be a crime.

#AlexJones #Bankruptcy #Chapter11 #Crimes

Alex Jones' bankruptcy attorney received a $500,000 retainer before filing the Chapter 11 petition.

That seems like a ton of money, but remember it involves working closely with Alex Jones. I don't think there is an amount of money that could compel me to do that.

#Bankruptcy #Chapter11

For today's #TotallyUnsurprisingNews, #Infowar's #AlexJones has just filed for #Chapter11 #bankruptcy!

:drake_like: :dumpsterfire:

SAS continues to see deep red as restructuring progresses
The full-year loss of SAS Scandinavian Airlines deepened as the airline works its way through the Chapter 11 restructuring process. Despite carrying significantly more passengers in the past months, the financia
https://airinsight.com/sas-continues-to-see-deep-red-as-restructuring-progresses/
#Airlines #airlines’ #AnkovanderWerff #Chapter11 #continues #deep #FY22results #loss #progresses #red #restructuring #SAS #SASForward #see

It's also interesting that BlockFi is saying that it will be filing a Plan of Reorganization today. That Plan is not flied yet, but that signals that BlockFi has thought about an exit strategy for its Chapter 11. What that exit strategy may look like is anyone's guess, but it puts BlockFi miles ahead of FTX in terms of thinking about one.

The first-day declaration is here: https://restructuring.ra.kroll.com/blockfi/Home-DownloadPDF?id1=MTM1MjM3NQ==&id2=-1

#BlockFi #Chapter11 #Bankruptcy #Crypto

As expected BlockFi has filed Chapter 11 bankruptcy in the District of New Jersey. Unlike the FTX bankruptcy proceeding which could be charitably characterized as an utter shitshow, BlockFi's bankruptcy is proceeding more along the lines of a normal Chapter 11 with first-day motions actually being filed on the first day.

https://restructuring.ra.kroll.com/blockfi/

#Bankruptcy #BlockFi #Chapter11 #Crypto

My sense is that everything will be handled in Delaware. While the bankruptcy courts in the Southern District of New York are also excellent, having everything in one forum just makes sense and moving the Delaware proceeding to New York would delay the process in a case that is the meltiest of melting ice cubes.

#FTX #Bankruptcy #Chapter11

Unfortunately, I am not able to listen in on the FTX first-day hearing this morning before Judge Dorsey in Delaware, but I am sure there will be plenty of fireworks in a case where seemingly everything is going off the rails.

There's a fight between the Bahamian insolvency proceeding that was recognized as a Chapter 15 case in New York and the Delaware bankruptcies that may be resolved today. It is rare to have jurisdictional fights like that in bankruptcy.

#FTX #Bankruptcy #Chapter11

Ripple to consider deals for FTX assets: Brad Garlinghouse

https://cointelegraph.com/news/ripple-to-consider-deals-for-ftx-assets-brad-garlinghouse

#BradGarlinghouse #SamBankman-Fried #acquisition #Chapter11 #investor #merger #deal

Did The Bahamas’ Securities Commission Take Control of FTX’s Assets? They Did

https://newsbtc.com/scams-and-fraud/did-the-bahamas-securities-commission-take-control-of-ftxs-assets-they-did/

#TheSecuritiesCommissionofTheBahamas #Chapter11bankruptcies #FTXDigitalMarkets #SamBankman-Fried #AlamedaResearch #ScamsAndFraud #bankruptcy #BrianSimms #TheBahamas #Chapter11 #chapter15 #Altcoin #Crypto #FTX

Bahamian securities regulator ordered the transfer of FTX’s digital assets

https://cointelegraph.com/news/bahamian-securities-regulator-ordered-the-transfer-of-ftx-s-digital-assets

#SecuritiesCommissionofTheBahamas #NewYorkBankruptcyCourt #TheBahamasSupremeCourt #FTXDigitalMarkets #FTXTradingLimited #TheBahamas #Chapter11 #Chapter15

The FTX saga continues to get more and more crazy. FTX has finally filed its "first-day declaration," a document that spells out how a company in bankruptcy got there and how they intend to get out. And wow, is it much, much more interesting than the typical first-day declaration. A thread:

#FTX #bankruptcy #crypto #Chapter11

FTX Australia's license suspended as 30K Aussies left in the lurch

https://cointelegraph.com/news/ftx-australia-s-license-suspended-as-30k-aussies-left-in-the-lurch

#AustralianSecurities&InvestmentsCommission #AustralianFinancialServicesLicense #AdministrativeAppealsTribunal #FTXAustralia #KordaMentha #FTXExpress #Chapter11

#FTX #Scandal

The #Ontario #Teachers #PensionPlan invested $95 million into cryptocurrency exchange FTX

The Ontario Teachers Association evidently claims this is a nothing-burger because less than 1% of teachers’ pensions total assets were “invested” in it. 🙄

On Friday morning, FTX posted on Twitter that the company had filed for #Chapter11 # bankruptcy

http://moneywise.ca/a/ch-pms/ontario-pension-crypto?utm_source=syn_pm_mwp&utm_medium=mwp&utm_campaign=23770&utm_content=23770

Effective Altruism: Former FTX CEO’s Alleged $40M Penthouse Listed for Sale, Report Says Firm Spent $74M on Real Estate

https://news.bitcoin.com/effective-altruism-former-ftx-ceos-alleged-40m-penthouse-listed-for-sale-report-says-firm-spent-74m-on-real-estate/

#RealEstateProperties #Chapter11Bankruptcy #FTXPropertyHoldings #realestatepurchases #Real-Estatelisting #SamBankman-Fried #Miami’sBrickell #FTXrealestate #Bankruptcy #FTXMansion #Properties #Realestate #SBFMansion #Chapter11 #News