(Bloomberg) -- Funds under the UBS Group AG umbrella face more than half a billion dollars of exposure to bankrupt auto-parts supplier First Brands Group through various investment strategies, with one ranking as the biggest unsecured creditor, court documents show.  The auto-parts supplier filed for Chapter 11 protection in Texas late Sunday following a failed attempt to refinance $6 billion of loans and creditor concern over the company’s use of opaque off-balance-sheet financing. The board committee ap ...

This story was originally published on CFO.com. To receive daily news and insights, subscribe to our free daily CFO.com newsletter. An elevated level of bankruptcies continues to plague corporate America, with 117 more “large” companies making Chapter 7 or Chapter 11 filings over the 12 months ended June 30. While that was a modest increase from 113 such filings during the prior 12-month period, it was 81% above the annual average rate of 44 from 2005 through 2024, Cornerstone Research reported. “Mega-bank ...

CVS Health Corp. subsidiary Omnicare Inc. has filed for bankruptcy after the pharmacy-services provider was ordered to pay $949 million over claims it improperly dispensed prescription drugs to individuals in long-term care. Most Read from Bloomberg Omnicare and certain affiliates sought court protection Monday in Texas listing assets of at least $100 million and liabilities of between $1 billion and $10 billion on a Chapter 11 petition. The $949 million civil judgment is listed as Omnicare’s largest u ...

There's also a required debtor education course that must be completed after filing. If you don't complete this step, you can't receive a discharge. Staying engaged and following instructions ensures you get the full benefits of bankruptcy protection.If you miss a scheduled meeting with creditors, fail to provide accurate paperwork, or ignore trustee requests, your case could be dismissed. Worse, failing to comply could be considered contempt of court, which carries serious penalties.Your obligations don't ...

Yellow Corp. and its largest shareholder failed to convince an appeals court to overturn a bankruptcy court’s ruling that the insolvent less-than-truckload (LTL) firm was liable for billions in debt claims by its pension funds. After Yellow Corp. shuttered operations and filed for bankruptcy in summer 2023, it withdrew from several pension plans that secured retirement benefits for the former trucking firm’s union workforce. During the Chapter 11 bankruptcy process, those funds came looking for what they b ...

(Bloomberg) -- The trustee overseeing bankrupt Tricolor Holdings is seeking control of roughly 100,000 subprime auto loans originated by the lender, looking to hold them under court supervision while determining how to distribute proceeds to creditors.  Tricolor filed for bankruptcy on Sept. 10 with plans to liquidate following allegations of fraud. Speaking at the company’s first court hearing on Thursday, trustee attorney Charles Gibbs said it took nearly a week to get into Tricolor’s headquarters, whil ...

Ava, a Los Angeles single mother earning $142,000, called "The Ramsey Show” to weigh whether bankruptcy could be her way out of crushing debt. She said she carries about $100,000 in credit card, a $4,800 mortgage and a $125,000 home-equity line for a backyard guesthouse. "I'm trying to see if it's worth me possibly filing bankruptcy or just grind it out and keep paying debt," she told co-hosts George Kamel and Jade Warshaw. Paycheck Versus House Payment Her monthly take-home pay is about $9,000 after de ...

Linqto, a San Jose-based fintech startup that filed for Chapter 11 bankruptcy, has agreed to a deal to repay customers. Linqto pitched retail investors the chance to buy into coveted firms such as Ripple Labs and Elon Musk’s SpaceX ahead of IPOs. But court filings revealed that Linqto structured the investments through special purpose vehicles (SPVs) owned by the company itself, not by individual customers. That meant users never held the shares they thought they had purchased. Related: Linqto, platform ...

NEW YORK (AP) — For decades, Publishers Clearing House doled out hefty checks on the doorsteps of hopeful consumers across the U.S., including prizes that boasted lifetime payouts. But some of those winners are now facing an end to the “forever” money they were once promised. The turmoil arrives amid PCH's ongoing bankruptcy process. The sweepstakes and marketing company filed for Chapter 11 in April, citing growing financial strain that spanned from rising operational costs and changes in consumer behavi ...

破产法律程序 - 美国特拉华州破产法院命令债权人支付150万美元保证金和20.4万美元藐视法庭罚款[1] - 法官质疑债权人可能恶意提起非自愿破产申请 并与公司前CEO存在合谋嫌疑[2] - 债权人违反自动中止条款 在澳大利亚继续推进清算程序 被认定违反美国法律[3] 公司背景与运营 - Mawson基础设施集团成立于2019年 总部位于澳大利亚悉尼 后扩展至美国等地[4] - 公司定位为数字基础设施提供商 专注于数字资产基础设施和能效型比特币挖矿[4] - 公司股票价格因非自愿破产申请下跌约75% 面临纳斯达克退市风险[9] 管理层争议 - 前CEO James Manning被指控通过其持股的Flynt国际货运解决方案进行自我交易[7] - 自我交易涉及超过1100万美元付款 且未向公司披露其经济利益关系[7][8] - 前CEO被指控向第三方威胁"将公司烧成平地" 并威胁提起非自愿破产[9]