Sep 18, 2024
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Mainstream media renew push for non-US FTX user identities
A May 3 filing to the United States Bankruptcy Court brings new objections to a motion that aimed to redact customer identities.
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The Unredeemable Debtor
The law is the witness and external deposit of our moral life. Its history is the history of the moral development of the race. – Oliver Wendell Holmes Bankruptcy law decisions are replete with references to the “worthy debtor.” In re Carp, 340 F.3d 15, 25 (1st Cir. 2003); In re BankVest Capital Corp., 360 F.3d 291 (1st Cir.2004); In re Institute of Business and Professional Educ., Inc., 79…
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Debt Ceiling Shrinks for Small Business Bankruptcies
Debt Ceiling Shrinks for Small Business Bankruptcies
Subchapter V of Chapter 11 of the Bankruptcy Code, which took effect in February 2020, creates a more streamlined and less expensive Chapter 11 reorganization path for small business debtors. Under the law as originally passed, to be eligible for Subchapter V, a debtor (whether an entity or an individual) had to be engaged in commercial activity and its total debts — secured and unsecured – had…
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Change in IBC paves way for prepack solutions for the MSME sector
Change in IBC paves way for prepack solutions for the MSME sector
India Friday notified changes to the Insolvency & Bankruptcy Code framework that paves the way for pre-packs for the MSME sector. The notification was issued after the IBC amendment bill approved by the Parliament received presidential assent. ET looks at the provisions closely WHAT IS PRE-PACK RESOLUTION? Pre-pack is a hybrid corporate rescue process It blends elements & virtues of both formal…
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