Bankman-Fried claims FTX US ‘fully solvent,’ denies stealing … – Washington Examiner

Disgraced cryptomogul Sam Bankman-Fried claimed FTX US is “fully solvent and always has been” after he was arrested on fraud charges. While FTX US should be “able to return all customers funds,” FTX International remains mired by insolvency, but “no funds were stolen,” Bankman-Fried insisted in a blog post in which he vowed to dedicate…

Sam Bankman-Fried ordered $65B ‘secret backdoor line of credit,’ lawyer says – New York Post

Sam Bankman-Fried ordered the co-founder of his cryptocurrency exchange FTX to create a secret backdoor that allowed his hedge fund Alameda Research to borrow $65 billion of clients money without their permission, according to testimony over the firms implosion. Gary Wang was told to create a secret line of credit using customer funds from FTX…

Royal artist hit with 7-year ban from trading after Bounce Back Loan … – The Freelance Informer

An artist with Royal, political and sports celebrity connections has been caught abusing a BounceBack Loan. The Insolvency Service says the case is a warning that there are consequences following disqualification which is a lengthy exclusion from trading with the benefit of limited liability. The Insolvency Service has reported that artist Darren Baker has abused…

Brief Overview on the Progress of the Insolvency Resolution Regime – The National Law Review

Thursday, January 12, 2023 INTRODUCTION With the passage of almost six years since the introduction of the Insolvency and Bankruptcy Code, 2016 (IBC/Code), the Code has achieved substantial progress towards providing a robust insolvency resolution mechanism in the country. At the same time, we have also witnessed significant challenges in the effective implementation of the…

Historically few bankruptcies in 2022 as well – Statistics Netherlands

Historically few bankruptcies in 2022 as well Change navigation 12/01/2023 15:00 ANP The number of companies declared bankrupt (including sole proprietorships), adjusted for court session days, increased for the fourth consecutive month in December. Statistics Netherlands (CBS) reports that there were 34 more bankruptcies in December than in November 2022. With the December figure being…