FTX's Recovery Trust initiated its fifth distribution, sending $900 million to creditors, bringing the total payout to an estimated $11 billion. This follows the exchange's 2022 collapse and ongoing legal actions against its former executives.
Thames Water bondholders, facing a credible threat of special administration, are now proposing new ideas like a "golden share" and "supervisory structures" to take over the utility. This shift exposes the government's earlier weak approach to the company's financial crisis, prompting the new Prime Minister to choose between nationalization, special administration, or a revised creditor deal.
FTX is set to distribute approximately $900 million to eligible creditors starting July 31, but only those who cleared June 16 checks and completed onboarding with providers like BitGo, Kraken, or Payoneer will receive funds. Residents of 45 jurisdictions remain blocked from selecting a distribution provider.
Lenders to Thames Water are preparing a legal challenge should an incoming Burnham government nationalise the heavily indebted utility. With £20bn in debt, a proposed rescue deal was rejected, and creditors seek full payment if nationalisation occurs, potentially leaving taxpayers with a multi-billion-pound bill.
Thames Water's creditors, holding £14bn in debt, are prepared to bid for the company even if it undergoes temporary nationalization under a potential Andy Burnham premiership. They view nationalization as a process, not a solution, and have submitted a £10bn rescue proposal.
Creditors of Red Lobster sue Thai Union, alleging it knowingly exploited the chain's financial struggles in 2023 through overpriced shrimp contracts and a disastrous 'Everyday $20 Ultimate Endless Shrimp' promotion, leading to bankruptcy in 2024.
Red Lobster creditors have sued Thai Union, the former majority shareholder, alleging the company "milked" Red Lobster for value through nonsensical contracts and a "disastrous" permanent "Ultimate Endless Shrimp" deal that led to the chain's bankruptcy.
Red Lobster creditors are suing former controlling shareholder Thai Union, alleging the seafood producer knowingly pushed uneconomic contracts and an "Everyday $20 Ultimate Endless Shrimp" promotion that contributed to Red Lobster's 2024 bankruptcy filing, despite financial distress.
TG Jones (formerly WH Smith) plans to restructure, leaving small suppliers, including Help for Heroes charity, with less than half of owed money, while 'exit contract' suppliers may see debts wiped out, with potential long-term profit shares.
A 1,219-room hotel complex on Lantau Island, operated by Marriott and developed by Shimao Group, is being put up for tender by Savills. The property failed to sell despite price cuts and was seized due to the developer's financial issues.
The Russian Finance Ministry has fulfilled its Eurobond coupon payment obligations for bonds maturing in 2027 and 2047, totaling 17.3 billion rubles ($234.8 million). Payments were processed according to a decree on honoring state debt liabilities.
Fifty film production companies linked to producer Alan Latham have been compulsorily struck off the UK's companies register by Companies House. This action, due to failures in legal obligations like filing accounts, prevents creditors, including unpaid film workers, from recovering debts.
FTX creditors are watching SpaceX's post-IPO stock performance with optimism. The defunct crypto exchange's investment in SpaceX, made before its collapse, could lead to larger payouts for victims of Sam Bankman-Fried's fraud.
Environment Secretary Emma Reynolds has expressed concerns over Thames Water's creditor rescue plan, citing unfair costs to customers and delays to infrastructure and environmental improvements. Special administration is now the most likely outcome, influenced by potential Prime Minister Andy Burnham's preference for public ownership.
Ukraine has paid $2.84 billion to creditors and received $6.03 billion in aid since Jan 1, 2026. The IMF is the largest recipient of Ukraine's loan repayments, totaling $1.07 billion. Ukraine's total debt stands at $208.97 billion.
Public notice regarding the simple liquidation of the estate of Hayriye Şalgam, whose inheritance was renounced by her closest heirs. Creditors and those claiming rights to assets must register within 30 days.
Hedge fund Elliott Investment Management, led by billionaire Donald Trump donor Paul Singer, is in talks to rescue UK water company Thames Water. Critics fear the deal could allow pollution and prioritize profit over infrastructure, while the government seeks to avoid a market meltdown.
A rescue deal for Thames Water is at risk due to uncertainty over the UK's next Prime Minister. Creditors led by Elliott Management are negotiating with ministers, but potential successor Andy Burnham's stance on public ownership could derail the agreement.
SEOUL, May 7 (Yonhap) -- Creditors of Yeochun NCC, a major producer of ethylene ...
Aave is asking a New York court to stop creditors from reaching frozen ETH that was set aside for victims of a major DeFi exploit. The fight turns a crypto recovery effort into a legal test over whether stolen assets can be redirected before users are made whole. Aave filed an emergency motion last week […] The post Aave warns $71M exploit recovery could be seized before victims are repaid appeared first on CryptoSlate.
Anna, a domestic helper from the Philippines, had managed her finances well until she took out two loans over the past few months for a friend she described as being “like a mother to me”. The 37-year-old, who asked to be identified only by her first name, now has to pay creditors about HK$9,000 (US$1,149) a month – almost twice her salary – leaving her extremely stressed about her debt. “My friend said she needed the money and asked if I could borrow from banks under my name, saying she would...
Anna, a domestic helper from the Philippines, had managed her finances well until she took out two loans over the past few months for a friend she described as being “like a mother to me”. The 37-year-old, who asked to be identified only by her first name, now has to pay creditors about HK$9,000 (US$1,149) a month – almost twice her salary – leaving her extremely stressed about her debt. “My friend said she needed the money and asked if I could borrow from banks under my name, saying she would...
Aave filed an emergency motion last week to free millions in frozen ETH from a restraining order issued against the Arbitrum DAO, turning what began as a coordinated exploit recovery into a court dispute. Aave LLC said the restraining notice was served on Arbitrum DAO on May 1 and seeks to seize approximately $71 million […] The post Aave says creditors are trying to seize stolen ETH before victims get their $71M back appeared first on CryptoSlate.
Spirit Airlines is preparing to cease operations after running out of cash, with a Trump administration rescue attempt appearing to stall. The carrier struggled to secure a deal with creditors and funding to maintain operations. The administration was working on a potential $500 million loan, and Trump suggested the government could buy the carrier. If Spirit liquidates, it will be the first major US carrier to do so since the 2008 recession. The airline has faced challenges from high oil prices and post-pandemic demand, compounded by a blocked $3.8 billion JetBlue merger in 2024.
