Discover and read the best of Twitter Threads about #bankruptcy

Most recents (24)

1/10 🧵🔮 #CryptoNews: Gemini's latest update states that Digital Currency Group (#DCG) missed a $630M payment due to Genesis last week 💔

🤔 As complex as it sounds, let's break it down in #crypto language


2/10 Gemini is now working alongside #Genesis, #DCG, and their creditors to provide some leeway to DCG to prevent a default. This could be a game-changing move in the crypto lending space. 🎲
3/10 Both Genesis and #CoinDesk are owned by DCG. This is significant because it means there's a lot of interconnection within the crypto industry, and one misstep can cause a domino effect. 🌐
Read 10 tweets
National Company Law Tribunal, Delhi to shortly commence hearing the application filed by Go Airlines seeking initiation of insolvency proceedings.

@GoFirstairways #GoAir Image
A division bench of Justice Ramalingam Sudhakar, President and technical member LN Gupta will hear the plea.

#goair #bankruptcy #NCLTDelhi
The President questions a reporter in court: You people report only where there is TRP. There are so many home buyers who come… Selective reporting.. Madam (court master) take down their numbers, we will call them when there is an important matter.

#goair #bankruptcy #NCLT
Read 5 tweets
#Biden backs strength of #banking system after collapse of #SVB, #SignatureBank | Mar 13
- When fed auths bailed out depositors in insolvent lenders SVB (NASDAQ:SIVB) and #SignatureBank on Monday,
Joe sought to reassure the public Image
#Ukraine-#BanderasBox opened.
#RAND Co | Jan 25
- There is an urgent need for #resources to flow into the national econ, especially the #banking system. Only European countries bound by #EU and #NATO commitments will be able to provide them
#SVB #SignatureBank #BanderasBox.
#Rand Co | Jan 25
- The key objective is to #divide #EU by placing #UsefulIdiots in political positions in order to stop #Russian #energy supplies from reaching the continent
- The entire #EU #economy will #collapse
Read 38 tweets
📣 We're back LIVE from the #Voyager confirmation hearing court room (Day 2). Will be providing updates in this thread as they are available. 📣

#Binance #FTX #Crypto #Bankruptcy

📣 #Binance has refused to provide a witness for today's hearing. Judge Wiles says, (paraphrase) "There's a whole host of objections that may have to rely on hearsay in the absence of a Binance witness". 📣
Read 40 tweets
#FTXscandal is sending shockwaves through crypto sector.

What is the long-term effects of #FTX's #bankruptcy❓ Will the domino effect happen❓

🤮Let's explore firms with exposure to #FTX's fall

Threat🧵👇 Image
1/ #BlockFi - the world’s largest crypto lenders files for bankruptcy.

BlockFi had a $600M+ loan to FTX/Alameda and SBF was unable to repay. Image
2/ Crypto lender @SALTLending halts withdrawals citing #FTXScandal impact

CEO of SALT said that "the collapse of #FTX has impacted our business." However, the full extent of the exposure was not disclosed

Read 12 tweets
:Collapsed #FTX hit by rogue transactions, analysts saw over $600 million outflows | Nov 12
- suspicious circumstances…
- The sudden collapse of "FTX" and its #Bankruptcy filing today, has revealed that FTX presently suffers from $10-$50 BILLION in liabilities with almost ZERO assets…
#HeavenlyJerusalem. #FTXbankrupty filing today, has revealed that FTX presently suffers from $10-$50 BILLION in liabilities.
- #Ukraine was receiving money from the US, Ukraine sent it to FTX, Sam #BankmanFried and #FTX sent it to #Democrats
Read 32 tweets
Last Thursday (s. ; or for the full live stream, s. ), @SevimDagdelen from #DieLinke has discussed with @RaniaKhalek & @EugenePuryear esp. the recently decided & billion-dollar rearmament of the German #Bundeswehr... a result of the #RussianFederation's military invasion of #Ukraine, as officially justified by the #GermanFederalGovernment. A recommendable interview! Besides her opposition to such rearmament & the associated fundamental departure...
...from the so-called „#Entspannungspolitik“ established by #WillyBrand & #EgonBahr for #Germany's relationship with the #USSR (& also its territorially largest & politically strongest successor state in the form of the #RussianFederation),...
Read 59 tweets
If you still have a commercial vehicle in this occupation? Say goodbye to your CVOR certificate, plates, drivers license, your liability coverage, …god forbid your vehicle is leased. The financial backlash & lawsuits won’t be televised. #bankruptcy…
You may as well put your truck keys on the dash, put a call into your lawyer, tell your wife to not answer the phone (creditors) and come pick you up. Because buddy, any driving you do from here out will only be done on your XBox (if you’re not indicted)
The emergency act means your truck will be seized. It’s a world of hurt coming, will last far longer than the hell you put those Ottawa residents through.
Read 4 tweets
1. Link to the complaint filed by seven heroic members of the @CapitolPolice. I predict POTUS #45 and/or campaign will file #bankruptcy though all claims with the possible exception of Count VI are non-dischargeable.…
2. A final judgment finding against #45 and his campaign funds on the main claims either via trial or summary judgment is binding on the Bankruptcy court and likely destroys his chances of keeping the funds assuming a large judgment enters.
3. This filing supports a view I have had for months. that #45, @RonDeSantisFL @GregAbbott_TX @govkristinoem and @dougducey campaign funds can also be reached by victims of their campaign disinformation related to a deadly pandemic.
Read 6 tweets
@claddingscanda1 Why?

Legacy concerns over security or arson risks
convenient FOI blocking strategy for an embattled @GOVUK

All of which is ridiculous when national enforcement registers are a) required by law to be in the public domain
b) list full details ImageImageImageImage
@claddingscanda1 @GOVUK Given the sensitivity of this subject matter here are some useful links signposted to allow more informed positions.

Here’s an informative article from @kentfirerescue on enforcement policy & key enforcement considerations.…
@claddingscanda1 @GOVUK @kentfirerescue All statutory enforcement agencies are bounded by legislation & a clear regulators code.

Primary legislation- Legislative and Regulatory Reform Act 2006

Secondary The Legislative and Regulatory Reform (Regulatory Functions) Order 2007 (as amended)…
Read 27 tweets…

Cred's downfall left more questions than answers, which is, unfortunately, common in the still-nascent cryptocurrency industry. #Bitcoin

Luckily, there is a trail of online ‘bread crumbs’ 🍞and court filings that help paint a picture. 👨‍🎨
It is best to start at the inception of Libra Credit, which conducted an ICO in Q2 2018. #Ethereum

The company successfully raised $26.4M in the LBA Token offering between May 1st and May 5th, 2018. 💰
Little did investors know that the $LBA Token would descend toward the abyss post-ICO. 📉📉📉

This is an all too familiar tale from the ICO-era of digital assets. 🙄

Unfortunately for the Cred community, the damage doesn’t stop with a token that lost over 96% of its value. 🙁
Read 15 tweets
This is the #DemPartyPlatform for 2020.This section is called: Guaranteeing a Secure &Dignified Retirement
Only one party has a specific plan for ensuring seniors will not retire to poverty & uncertainty..the other can’t wait to cut &slash to pay for tax cuts for the wealthy 1/10
#Democrats will protect Americans’ retirement security, especially in the midst of the COVID-19 pandemic, and take action to protect public and private pensions to ensure workers keep the benefits they have earned, including through multiemployer plans. 2/10 #DemPartyPlatform
#Democrats oppose changes to the multiemployer pension system that would endanger workers’ and retirees’ pensions, including composite pension plans. 3/10 #DemPartyPlatform #RetireWithDignity
Read 10 tweets
With threats of #homelessness and #bankruptcy in the air as the #eviction moratoriums subside, both renters & small #landlords are getting pinched by predatory #tech #capitalism as the #gigeconomy hits the #RealEstate market.
by Raul Diego @hijodelcuervo…
A “tsunami” of #evictions is about to sweep across the US when the 120-day #moratorium ends today, threatening millions of Americans with #homelessness or worse – a new set of #landlords called #Facebook, #Google and #Apple.
by Raul Diego @hijodelcuervo…
Powerful #tech players like #IBM, #Microsoft and #Facebook are teaming up with hospital networks with links to the #Vatican and tech lobbying groups to shape the conversation about the future role of tech in the public sphere.
by Raul Diego @hijodelcuervo…
Read 3 tweets
This is the #DemPartyPlatform for 2020. This section is called: Curbing Wall Street Abuses..Only one party has a specific plan for leveling the playing field for #WorkingAmericans..the other has done nothing but pledge their loyalty to a corrupt billionaire 1/11 Image
The scars of the financial crisis that triggered the Great Recession are still present in our economy and our society. Financial institutions should never be “too big to fail.” 2/11 #DemPartyPlatform #financialsectorcleanup Image
#Democrats will work to reverse the over-financialization of the American economy and curb Wall Street speculation 3/11 #DemPartyPlatform #financialsectorcleanup Image
Read 11 tweets
A partial snapshot of the thousands of corporate entities that have landed in bankruptcy court since March.

It doesn’t capture the countless businesses that closed shop permanently without seeking protection in court.
#US #recession #bankruptcies…
72,842 businesses permanently closed, out of the 132,580 total closed businesses

Permanent closures now accounting for 55% of all closed businesses
#US #recession…
This year’s spate of “mega” insolvencies is just getting started

Global corporate defaults on track to exceed 2009: Fitch

“When there is an increase in insolvency risk, what you do not need is more debt. You need less debt”
#US #recession #bankruptcies…
Read 9 tweets
Lots of attention on the @peabodyenergy announcing it has devalued the North Antelope Rochelle Mine (NARM) by $1.4 billion. Billion with B. For those following along, here is a thread with some background and additional context of why this is such a big deal. (1/?)
@peabodyenergy For good coverage of Peabody's NARM #coal mine announcement from yesterday, check out stories from @taykuy @MicahMaidenberg @camillereports @The_News_Record and @FT And here is our statement
@peabodyenergy @taykuy @MicahMaidenberg @camillereports @The_News_Record @FT The NARM #coal mine is huge. The largest in the world, in area. It takes 2 inspectors from @Wyoming_DEQ to be able to cover it all. You can see it from space with satellite imagery.
Read 13 tweets
A Longer #Threade I observed the last weeks

#Lebanon #IWF #China #Beirut #LebanonProtests #Financialcrise #bankruptcy

In Beirut there is hyperinflation, prices rose by 250 percent within a month, plus corruption, coronavirus, unemployment and hunger.
Lebanon, long ago called "Switzerland of the Middle East", is in danger of total collapse. Only the IMF and China could help. But negotiations with the IMF have failed. Now some are relying on China as a savior in need. But whether Beijing participates in it can be doubted.
And involved in this chaos is of all things EY, the accounting firm that gave Wirecard its falsified balance sheet for years (€ 1.9 billion). In March, Lebanon was unable to pay interest on its euro bonds for the first time.
Read 23 tweets
#bankruptcy #hotels #mergers
Well, THAT was certainly quick! Hotel-merger, named Maribel goes bankrupt after only less than 2y!
What's cooking? The one group, "Belvar", runs Marriott in Europe!…
Mormons launched Marriott - slashed their $billion in 1st quarter this year! Then Covid-crisis stops earnings in hotel-business likely added:…
News of bankruptcy is so new that barely any media outside Scandinavia reporting! Could only find this from DK:
Read 3 tweets
So it doesn’t look like @federalreserve can stop #2ndwave (which looks more like 1st wave doing a #FibonacciTrading 23% pullback before exploding up another 161%)… Image
And it doesn’t look like @federalreserve can stop the #insolvency and #bankruptcy phase... The last 6 months had the most filings since 2009…
Does that mean has enough justification to jump higher? Or does it need still more #QE? Or Fed to start buying #stocks? Or maybe It needs more consolidation / lower ATR?

Read 3 tweets
1. Address the #schoolloan crisis by amending Sec. 523 of the #Bankruptcy Code to make predatory loans dischargeable.

In 2008 we watched as the home mortgage crisis made home loans less attrative to the securitization industry so it turned on our kids. Essentially turning them
2. into living collateral who, because of the non-discharge provisions and debt limits, now have no way out. US schools and lenders and possibly taxpayers have to accept a share in the disaster.
3. Address the crisis by amending the Bankruptcy Code sec. 523 and Chapter 13 unsecured debt limits to make the loans dischargeable. Look at the bloated endowments many schools have created in this bubble as a souce of tax revenue for possible lender bailouts.
Read 4 tweets
1. #JeffreyEpstein just added a three-attorney litigation team from a high-power white collar firm. Is it more evidence that there may be a #Ponzi lurking? Does this mean Epstein may have E&O coverage? IMO that's consistent with this firm's appearance.…
2. Having worked unwinding my first Ponzi in 1990, I expect if that, if that is what we are looking at, it will go fast towards SDNY #Bankruptcy court. If not, then it may be just run-of-the-mill money laundering and/or securities fraud case. But it's at lease two of three IMO.
3. Plus a Bobby De Niro lookalike. 😎…
Read 3 tweets

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