Higher Courts Should Determine Bond Interest Payments by Solvent Firms, Judge Says: A bankruptcy judge said higher courts or Congress should clarify whether solvent companies can pass through chapter 11 bankruptcy without paying prepayment premiums and contractual interest to bondholders.
Sam Bankman-Fried Ran FTX Like a Personal Fiefdom, Lawyers Say: In bankruptcy court, the crypto exchange’s attorneys said a ‘substantial amount’ of the firm’s assets are stolen or missing.
(14) Why the Genesis Contagion Matters After FTX | LinkedIn: While the world is struck by the unraveling of FTX, there’s another chunk of the crypto universe coming under pressure. Genesis, a unit that’s part of Barry Silbert’s Digital Currency Group, reached out to investors across the globe for fresh capital after its lending business froze withdrawals.
Bankrupt Pipeline Healthcare Sells Two Chicago Hospitals to AUM: Bankrupt Pipeline Health System LLC plans to sell two Chicago-area hospitals to AUM Global Healthcare Management in a deal worth $92 million.
CrossTower Considers Own Crypto Fund Alongside Voyager Bankruptcy Bid - Bloomberg: Crypto exchange CrossTower Inc. is considering further acquisitions beyond its bid for the assets of bankrupt crypto lender Voyager Digital, a deal revived this month after Voyager’s original buyer FTX Trading Ltd. itself filed for bankruptcy
Genesis, the Troubled Crypto Lender, Hires a Restructuring Adviser - The New York Times: Genesis Global Capital, the troubled crypto lender, has hired the investment bank Moelis & Company to explore options including a potential bankruptcy, three people familiar with the situation said. Genesis had previously confirmed it brought on advisers to help address a liquidity crunch, including the consulting firm Alvarez & Marsal and the law firm Cleary Gottlieb.