Bankruptcies
Sam Bankman-Fried Responds to Fraud Charges: ‘I Didn’t Steal Funds’
Sam Bankman-Fried, the disgraced cryptocurrency executive, on Thursday made his first detailed response to the criminal charges filed against him last month, arguing that the millions of customers of his collapsed exchange, FTX, could still get their money back. In a statement published on Substack, Mr. Bankman-Fried said that “very substantial recovery remains potentially available.” […]
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Judge Orders New Bankruptcy Officials in Alex Jones Case
WATERBURY, Conn. — A federal bankruptcy judge in Houston ordered new personnel to oversee the bankruptcy of Alex Jones’s Infowars late on Tuesday, citing an ongoing lack of transparency, including over Mr. Jones’s lavish personal spending. Judge Christopher Lopez dismissed Mr. Jones’s attorney and chief restructuring officer in the bankruptcy of Free Speech Systems, Infowars’ […]
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Boris Becker Sentenced to Prison for Hiding Assets in Bankruptcy
The precarious financial situation of Mr. Becker has been under scrutiny for several years. In 2017, a private bank in London, Arbuthnot Latham, made an application for bankruptcy proceedings against Mr. Becker, claiming that payment of a large debt owed by him was nearly two years overdue. He was soon declared officially bankrupt by a […]
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Facing Judgment, Alex Jones Pleads for Help From the ‘Deep State’
WASHINGTON — Alex Jones, the far-right Infowars broadcaster and an ally of former President Donald J. Trump, has spent 25 years and reaped millions of dollars stoking suspicion and defiance of what he calls the federal “deep state.” Now, with his conspiracy empire under threat, Mr. Jones is seeking government relief. Facing monetary damages for […]
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‘You Murdered My Daughter’: Relatives of OxyContin Victims Confront the Sacklers
While state and local governments will divide up billions from the Sacklers and Purdue for treatment and prevention programs, if the current draft — or some approximation — of the Purdue bankruptcy and settlement plan were adopted, individual victims will get far less. They can apply for compensation from a fund of up to $750 […]
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Sacklers and Purdue Reach Settlement as Opioids Crisis Continues
After hundreds of hours of negotiations mediated by Judge Shelley Chapman of federal bankruptcy court, the Sacklers also agreed to a series of other new terms. In addition to the Sackler statement, which Mr. Tong characterized as an “apology,” Judge Chapman is recommending a hearing that would allow people who suffered from addiction to OxyContin […]
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Sacklers Raise Their Offer to Settle Opioid Lawsuits by More Than $1 Billion
Members of the billionaire Sackler family have sweetened their cash offer to settle thousands of opioid-related lawsuits against them and their company, Purdue Pharma, offering up to $6 billion, an increase of more than $1 billion from an earlier offer, according to a mediator’s report filed Friday afternoon in bankruptcy court. But the deal is […]
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Kohl’s Receives $9 Billion Offer Backed by Activist Investor
The department store Kohl’s has received a roughly $9 billion offer to go private in a deal with an investment consortium backed by the activist hedge fund Starboard Value, according to two people familiar with the matter. The offer highlights the resurgent interest that activist investors are showing in department stores, as brick-and-mortar retailers have […]
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