Vulcan, formerly Greenidge Generation, faces uncertainty as its $39.4 million financing deal remains unclosed. The company requires these funds to redeem $33.1 million in senior notes due October 31, warning that failure to secure capital could lead to default or bankruptcy.
Google has acquired internal business data and custom software from bankrupt carrier Spirit Airlines for $10 million to aid AI model training, winning a competitive bankruptcy auction against Mercor.
Four-time Olympic champion Michael Johnson has spoken for the first time since Grand Slam Track's bankruptcy, clarifying that a $500,000 payment to himself was a travel expense reimbursement and stating that athletes have now been paid.
Salad and Go filed for Chapter 11 bankruptcy and announced the permanent closure of all remaining locations, citing strategic growth challenges, high costs, and a broader consumer pullback driven by a cyclospora outbreak.
Former Hellyer mine executives Brad Monks and Rodger Johnston failed to set aside a bankruptcy ruling in the federal court, ordered to repay $8.5M in misappropriated funds.
Jack Link's transformed a struggling Wisconsin slaughterhouse into a multibillion-dollar meat snacks empire through innovation, strategic acquisitions, and effective marketing, riding protein-focused diet trends.
Bitcoin mining pool Poolin Technology filed for Chapter 11 bankruptcy, owing $163.7 million in IOUs to wallet users. Its Texas affiliates seek court approval to sell assets for an initial $52 million, covering only 31.8% of the IOUs, with final recovery for unsecured creditors uncertain due to various unresolved factors.
The Christian Brothers initially declared insolvency, threatening to leave child abuse survivors shortchanged after transferring properties worth hundreds of millions to Edmund Rice Education Australia for $1 each. Following sustained pressure, EREA agreed to take over claims, ensuring full compensation for survivors.
BitMEX, once a major crypto exchange, announced its closure on September 23, advising customers to withdraw funds. The exit, driven by a loss of market share to competitors like Binance and OKX, is a scheduled wind-down without a financial crisis, contrasting with the 2022 CeFi collapses.
Singapore-based Bitcoin mining pool Poolin and two US affiliates filed for Chapter 11 bankruptcy in a New Jersey court, citing estimated liabilities of $100M-$500M. The company, once the largest Bitcoin mining pool, now ranks 17th and seeks to sell two Texas mining sites for $52M.
MVMT Labs, the developer behind Movement Network, filed for Chapter 11 bankruptcy in July 2024, listing $1M-$10M in liabilities against $100K-$1M in assets, just months after raising $38M. Creditors now face uncertainty regarding asset ownership and claims amid a complex operating structure involving multiple related entities.
The Seoul Bankruptcy Court resumed Homeplus' corporate rehabilitation after the retail chain secured a ₩200B ($130M) debtor-in-possession loan. This offers a temporary reprieve, but Homeplus must submit a credible rehabilitation plan by September 4 to avoid bankruptcy, facing a steep recovery path.
Movement Labs, developer of the Movement Ethereum layer-2 blockchain, filed for Chapter 11 bankruptcy on July 15 in Delaware. This follows a market-making scandal involving co-founder Rushi Manche and Web3Port, which led to a 94% decline in the MOVE token and Coinbase suspending trading.
Sen. Cynthia Lummis's CLARITY Act aims to protect crypto customers in bankruptcies like Celsius by defining digital assets held for customers as 'customer property.' The bill, which passed the Senate Banking Committee, seeks to clarify ownership rules, though conditions apply to lending and yield products.
A Seoul bankruptcy court extended Homeplus Co.'s rehabilitation proceedings until Sept. 4 after the troubled discount chain appealed an earlier termination decision. The extension follows Meritz Financial Group's agreement to provide financing with a full payment guarantee from Homeplus's owner, MBK Partners.
A Dutch court declared cryptocurrency platform Knaken Cryptohandel BV and its foundation bankrupt, citing €7 million in missing customer assets. The Rotterdam court's ruling follows a criminal investigation and raids by financial crime services, with the company unable to repay users.
The FTX Recovery Trust announced it will distribute approximately $900 million to creditors starting July 31, marking the fifth round of repayments since the exchange's 2022 bankruptcy. This follows a $2.2 billion distribution in March, bringing total payouts to $10 billion, while former executives remain imprisoned and Sam Bankman-Fried's pardon appeal was denied.
Lucid Motor's stock dropped 16% after rumors of potential bankruptcy or going private, despite the company denying the claims, citing sufficient liquidity and focusing on operational improvements.
Hofbrauhaus Wolters, a 396-year-old German brewery, has filed for bankruptcy due to soaring energy costs and declining beer consumption. The company will restructure under self-administration, retaining employees as it shifts towards non-alcoholic beverages.
Homeplus, whose corporate restructuring proceedings were canceled, is expected to suspend store operations this week and file for bankruptcy. With securing emergency operating funds virtually impossible, the focus shifts to minimizing damage to suppliers, employees, and tenants through an orderly liquidation process.
Terraform Labs' bankruptcy court has permitted the Plan Administrator to use Jump Trading documents in a lawsuit seeking at least $4 billion, while rejecting four late crypto-loss claims. The ruling allows evidence use but does not determine Jump's liability or creditor recovery amounts.
South Korean chipmaker SK hynix is set to raise approximately $28 billion on Wall Street via ADRs, a sum surpassed only by SpaceX. The listing aims to improve valuation and fund new facilities amidst a booming AI memory market, despite cyclical industry risks.
South Korean retail chain Homeplus is on the brink of bankruptcy after the Seoul Bankruptcy Court terminated its rehabilitation proceedings due to a failure to secure 200 billion won in funding. The company's deteriorating financial condition and lack of a viable recovery plan led to the decision, with potential massive job losses and supplier defaults looming.
The federal government is concerned the Christian Brothers Catholic order may have improperly transferred property for $1 to Edmund Rice Education Australia before claiming bankruptcy. The NSW Supreme Court ordered a moratorium on abuse claims against the order, which owes $774m to survivors.
