News list for " bankruptcy court"
Bitcoin mining company Rhodium Enterprises has filed for voluntary bankruptcy under Chapter 11 of the U.S. Bankruptcy Court for the Southern District of Texas with up to $100 million in liabilities. The filing, filed Aug. 24, includes six subsidiaries - Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW, and Rhodium 30MW. According to the filing, the company's liabilities are between $50 million and $100 million, while its total assets are estimated to be between $100 million and ...
On July 19, Terra officially announced on social platforms that the bankruptcy court has authorized TFL to reopen Shuttle Bridge to redeem the encapsulated assets on Terra Classic, and to cancel the commission and destroy the 150 million LUNAs obtained from Terra community funding. According to the court order, TFL plans to transfer all the assets in the Shuttle Bridge wallet to the new wallet, and provide a simplified interface to support users to redeem the encapsulated assets within 30 days, ...
On July 19, Terra announced that the bankruptcy court order in the TFL Chapter 11 case authorized TFL to do the following: 1. Reopen ShuttleBridge to redeem the encapsulated assets on Terra Classic; 2. Cancel the commission and destroy the 150 million LUNA received from the Terra community grant. According to the court order, TFL plans to transfer all assets held in the ShuttleBridge wallet to the new wallet and provide a new, simplified ShuttleBridge interface that allows users to transfer fund...
FTX's bankruptcy reorganization plan has sparked a heated debate in Delaware bankruptcy court. FTX attorneys and creditors debated the disclosure statement at Tuesday's hearing. The statement gives creditors information to help them decide whether to accept the reorganization plan. FTX plans to pay at least 118 percent of the amount claimed to 98 percent of its creditors, but some want to pay in cryptocurrency rather than cash. Judge John Dorsey needs to approve the plan, creditors will then vot...
Gemini Trust Releases Update on Earn Plans: At a hearing on April 16, the bankruptcy court orally approved the global settlement agreement between Gemini, Genesis, and other creditors in the Genesis bankruptcy case. This is another milestone in the process of achieving full recovery of Earn users' digital assets. The settlement stipulates that as of the suspension date (November 16, 2022), the initial distribution amount distributed to Earn users is approximately 97% of the digital assets owed t...
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