Latest Updates Around The World
The owner of Saks Fifth Avenue is seeking bankruptcy protection, beset by increasing competition and the massive debt he took on to buy his luxury rival, Neiman Marcus, just over a year ago. Saks Global has secured about $1.75 billion in financing, the New York company said as it filed for bankruptcy Wednesday in the […]
The American Land Title Association (ALTA) applauds the news, saying it reinforces its warning that AOLs are a “fragile and inferior” alternative to title insurance and that the letters are “inferior products that do not reduce risk.” “For lenders that have adopted AOL programs, the filing raises immediate questions about going concern, liability and counterparty […]
Federal prosecutors are investigating a group of telecommunications companies accused in a lawsuit of fraud by their lenders, including BlackRock Inc.’s private lending arm. The U.S. Attorney’s Office in Brooklyn, New York, is investigating at least two companies, Broadband Telecom and Bridgevoice, and their owner, Bankim Brahmbhatt, according to a person familiar with the case […]
The FTX Recovery Trust, the organization that has reimbursed former customers and creditors of the Essle stock exchange, has announced a third distribution of almost $ 1.6 billion. By one press release The distribution starts on 30 September on Friday. Funds will be transferred to the accounts of creditors via Bitgo, Kraken or Payone within […]
Former Victorian liberal leader John Pesutto will avoid bankruptcy after the party agreed to provide him with a loan of $ 1.55 million. Mr Pesutto was commissioned to pay fellow liberal MP Moira that considered $ 2.3 million in legal costs after she successfully sued him for defamation. He was unable to pay the debt, […]
Popular DNA test company 23andme has applied for bankruptcy after several failed takeovers from its CEO, which submits a request from the US bankruptcy court to sell its assets. Chief Financial Officer Joe Sels drag will take over as an interim CEO of co-founder Anne Wojcicki, who resigned with the announcement after several failed attempts […]
