Chapter 11 Bankruptcy

Nikola Corporation (NASDAQ:NKLA) shares are trading lower in the premarket session on Wednesday, after it filed for Chapter 11 bankruptcy, seeking to auction its assets while continuing limited operations through March 2025. Nikola announced today that it and certain subsidiaries have filed...

Vertex Energy, Inc (NASDAQ:VTNR) shares are tumbling lower at a premarket on Wednesday. On Tuesday, the company inked a Restructuring Support Agreement (RSA) with full backing from its term loan lenders and filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas....

Tupperware Brands Corporation (NYSE:TUP) announced yesterday that it and some of its subsidiaries have voluntarily filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware. In a filing, the company said, while its direct-selling business model thrived for years, in...

Restaurant company Red Lobster is nearing an exit from Chapter 11 bankruptcy, which was announced earlier this year. What Happened: News of Red Lobster declaring bankruptcy prompted a mix of memories from consumers who had visited the restaurants over the year, including the world's richest...

Editor’s note: This story has been updated to add additional detail around U.S. corporate bankruptcies filed in 2010. A higher-for-longer interest rate environment has sent many companies reeling, as corporate bankruptcies hit a high in June. The data came during concerns about the U.S....

Medical Properties Trust Inc’s (NYSE:MPW) tenant Steward Health Care plunged into Chapter 11 bankruptcy, posing significant financial risks for hospitals across eight states.  State regulators, alarmed by the precarious situation, have intensified scrutiny over the Steward...

Genesis Global Holdco, currently undergoing bankruptcy, has settled a lawsuit filed by the Securities and Exchange Commission (SEC) over a contentious lending program. As part of the agreement, Genesis, a subsidiary of Digital Currency Group, will pay $21 million to the SEC, as revealed in a recent...

A formal motion has been submitted to the U.S. Bankruptcy Court for the District of Delaware to resolve an issue that has confounded bankrupt crypto exchange FTX (CRYPTO: FTT) and its affiliated debtors. What Happened: The motion aims to establish a standardized method for valuing claims,...

FTX's (CRYPTO: FTT) debtors have reached a settlement with a Bahamian subsidiary, FTX Digital Markets Ltd. What Happened: The beleaguered crypto exchange is seeking to align bankruptcy proceedings in the U.S. and The Bahamas, ensuring a more streamlined and equitable process for creditors...

Corporate bankruptcies have seen a sharp increase in the last year as interest rates rose and following the withdrawal of trillions of dollars worth of COVID-19 support packages. U.S. court data showed that Chapter 11 filings rose by 30% in the year to September compared to the same period a year...

Several months before Genesis Global Holdco LLC halted deposits and eventually declared bankruptcy, cryptocurrency exchange Gemini Trust Co. reportedly withdrew a significant sum from the lender. This move was part of an initiative by Gemini, owned by the Winklevoss twins, Tyler and Cameron, to...

Wall Street firms, including BlackRock Inc (NYSE: BLK), King Street Capital, and Brigade Capital, who previously lent hundreds of millions to WeWork Inc (NYSE: WE), are considering the possibility of a bankruptcy filing for the company. The decision emerged after...

Mallinckrodt Plc (NYSE: MNK), a venerable pharmaceutical company with a history spanning almost 150 years, is poised to file for bankruptcy for the second time in less than three years.  This decision comes as the company grapples with the ramifications of business declines and the...

Crypto custodian Prime Trust LLC, along with some of its affiliates, has officially filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. This move came after John Guedry was permanently appointed as the receiver for the company. Additionally, a...

9 Meters Biopharma Inc (NASDAQ: NMTR) shares plummeted after the company filed for Chapter 11 bankruptcy protection, according to a regulatory filing on Tuesday. The company said that after considering all strategic alternatives, 9 Meters Biopharma, together with its subsidiaries,...