Bankruptcy & Restructuring News Headlines for Wednesday May 29, 2024

Here's what we are reading this morning:

BREAKING: FTX Exec Ryan Salame Gets 7.5 Years - Law360: A Manhattan federal judge hit crypto-finance expert and former FTX executive Ryan Salame with a 7.5-year sentence Tuesday for duping a bank to authorize $1.5 billion of illegal transfers and making fraudulent campaign contributions for the exchange's convicted founder Sam Bankman-Fried.

Adam Neumann drops bid to acquire bankrupt WeWork | WeWork | The Guardian: Former CEO of shared office space provider was ousted from company in 2019 following botched attempt to take it public

Whistleblowers, Yachts and Lawyers: FTX Examiner’s Key Takeaways - WSJ: Cleary, famed for leading the U.S. government’s case against Unabomber Theodore Kaczynski, dug into the collapse of Sam Bankman-Fried’s crypto exchange and the chapter 11 process that followed.

Gol Looks to Raise $1.5 Billion in New Equity to Repay Financing - Bloomberg: Brazilian airline Gol Linhas Aereas Inteligentes SA plans to raise $1.5 billion in fresh equity to repay its existing debtor-in-possession financing and shore up its balance sheet, according to its new five-year financial plan

Pantera, Figure Markets Buy Last of Discounted FTX Solana - Bloomberg: After weeks of auctions, the estate of bankrupt crypto exchange FTX concluded sales of a $2.6 billion trove of deeply discounted Solana tokens, with Figure Markets and Pantera Capital among the latest buyers

Rudy Giuliani’s Creditors Seek Outside Trustee to Take Over His Financial Affairs - WSJ: The creditors committee in his personal bankruptcy case cited ‘exorbitant’ spending, inaccurate financial records and unauthorized payments





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