Bankrupt Endo To Pay $2B To Resolve Opioid Claims - Law360: Bankrupt drugmaker Endo International has agreed to pay approximately $2 billion to resolve criminal and civil allegations related to its sales and marketing of a powerful opioid, with a group of secured lenders set to operate the company under a new corporate structure.
Private equity-owned German bank hit after 25% of US office loans default: Private equity-owned German real estate lender Aareal Bank warned there was “more to come” after one in four of its US office loans went into default last year.
Polished.com Suspends Operations and Announces Intention to File for Chapter 7 Bankruptcy Protection | Business Wire: As recently disclosed, following the Notice of Acceleration from its lenders earlier this month, the Company was working to reach a resolution with its lenders and exploring multiple paths to obtain additional financing to sustain operations.
Mt. Gox: What We Still Don’t Know 10 Years After the Collapse: To commemorate the 10th anniversary of the collapse of bitcoin exchange MtGox, Mark Hunter, author of “Ultimate Catastrophe: How MtGox Lost Half a Billion Dollars and Nearly Killed Bitcoin,” tackles the questions that still remain unanswered ten years later.
EV Startup Fisker Raises Going Concern Warning After Troubled Debut - WSJ: Company says it might need to secure additional financing, is in talks with large automaker for a partnership
Bankrupt EV Maker Lordstown Motors to Pay $26 Million to Settle SEC Probe - Bloomberg: Bankrupt electric vehicle manufacturer Lordstown Motors Corp. agreed to pay $25.5 million to settle US Securities and Exchange Commission allegations that the firm exaggerated the demand for its electric pickup truck.
WeWork Junior Creditors Committee Wants to Sue SoftBank - WSJ: The committee says SoftBank and other creditors orchestrated WeWork’s debt restructuring knowing bankruptcy filing was imminent
NYCB Reports $2.4 Billion More in Losses as CEO Resigns - The New York Times: The lender said its earnings were far weaker than it had earlier stated, and it disclosed the discovery of “material weaknesses” in its internal controls.
The Children's Place Announces $78.6 Million of Interest-Free Unsecured New Financing to be Provided by Mithaq Capital and the Appointment of Four New Directors: Proceeds of the New Financing from the Company’s Majority Shareholder to Be Used to Support Operations, Including Vendor and Service Provider Payments
Bankruptcy court approves Vesttoo liquidation plan | Insurance Business UK: The bankruptcy court in Delaware has approved the liquidation plan for Vesttoo following the insurtech’s collapse due to alleged letters of credit fraud
