Category: Bankruptcy filings

US Corporate Debt Defaults in 2023 Surpass Last Year’s Total: Moody’s

July 19, 2023
Bankruptcy filingsBusiness & MarketsCompaniescorporate debt defaultseconomic policieseconomyFederal Reserveinflationinterest ratesInvestmentMarketsMoody'sPolicies & ImpactsrecessionUS
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The total amount of corporate debt defaults in the United States this year have already exceeded the amount seen in 2022. Experts have been warning of a wave of defaults to hit the economy for some time due to higher borrowing rates. At least fifty-five American-based companies defaulted on their loans in the first half…

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Sam Bankman-Fried Says FTX US Users Will Get 100 Percent of Their Money Back

December 1, 2022
Bankruptcy filingsBusiness & MarketsCompaniescrypto exchangeCrypto Exchange FTXcrypto fraudcryptocurrencyMarketsSam Bankman-FriedTechTech NewsUS
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Sam Bankman-Fried, the former CEO of the bankrupt crypto exchange FTX, has dismissed the notion that users of the platform will not recover anything substantial from the collapsed firm. In an interview with YouTube commentator Tiffany Fong, Bankman-Fried said that FTX U.S. will get “a dollar on the dollar” and that international users can expect…

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Vehicle Maker Electric Last Mile Files For Bankruptcy

June 14, 2022
Bankruptcy filingsBusiness & MarketsCompaniesElectric VehiclesEV makerSEC investigationSPACUSUS News
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Electric Last Mile Solutions (ELMS), a commercial electric vehicle (EV) company, has announced that it plans to file for Chapter 7 bankruptcy, less than a year after it went public through a merger with a special purpose acquisition company (SPAC). The company’s CEO Jim Taylor and executive chairman Jason Luo resigned in February 2022 following…

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