Electric Generator Startup Faces Financial Woes Moxion Power Co., a San Francisco Bay Area-based electric generator startup backed by Amazon, has filed for Chapter 7 liquidation in Delaware with estimated liabilities ranging from $100 million to $500 million. This news comes on the heels of the … [Read more...]

Celsius Network's Legal Action The defunct cryptocurrency platform Celsius Network has filed a lawsuit against Tether, the largest stablecoin provider, seeking to recover over $2.3 billion in Bitcoin. The lawsuit accuses Tether of exploiting Celsius' financial troubles for its own gain as Celsius … [Read more...]

Record Credit Card Debt Hits $1.14 Trillion According to data released on Tuesday by the Federal Reserve Bank of New York, U.S. credit card debt has surged to an unprecedented $1.14 trillion. This marks an increase of $27 billion from the $1.13 trillion reported in the second quarter of … [Read more...]

“Ever since I lost my business during the pandemic and feared I’d be going down this bankruptcy road, the one thing, of all things, I was worried about was some creditor coming for my car,” Dale told his friend Ernie. “I get it, there’s something about a man’s car that makes it more important than … [Read more...]

Subsidiaries to Undergo Bankruptcy and Reorganization On Monday, China Evergrande's electric vehicle division reported that a Chinese court has mandated the bankruptcy and reorganization of two of its subsidiaries. This announcement led to a significant drop in the EV group's shares, which fell by … [Read more...]

Facing Chapter 7 bankruptcy is tough, not just for you but also for those tied to your financial journey. One critical concern many have is what happens to my cosigner if I file chapter 7. In this piece, we're setting out to help you understand Chapter 7 bankruptcy and its impact on your cosigners, … [Read more...]

A pair of Boston-based attorneys from Davis Malm, Christopher Marino and Gary Matsko, achieved a rare victory in a bankruptcy-related jury trial. Despite not specializing in bankruptcy law, they successfully defended Arthur Demoulas, a majority shareholder in W.J. Bradley Mortgage Capital LLC, … [Read more...]

Federal Judiciary Seeks Applicants for EPA Public User Group The federal Judiciary is inviting applications for its EPA Public User Group, which advises on enhancing electronic public access (EPA) services. This group comprises up to 12 members from diverse sectors, including legal, commercial, … [Read more...]

American Express has agreed to a $3 million settlement to resolve claims by the Girardi Keese bankruptcy trustee. The trustee accused American Express’s banking unit and a subsidiary of facilitating $50.25 million in fraudulent transfers as part of the defunct law firm’s scheme to deceive … [Read more...]