article thumbnail

Company Directors banned for trading whilst insolvent

UK debt collections

Three Directors of a Finance firm have been banned for trading whilst insolvent. Independent Derivative Traders Ltd traded as Futex. They provided access to a financial markets trading platform for sub contracted independent traders in the UK. It became apparent that the company was not able to meet its liabilities.

Trade 72
article thumbnail

BlockFi Bankruptcy Deals New Blow to Crypto. Here’s What to Do Now

Nerd Wallet

The cryptocurrency trading and lending platform BlockFi filed for Chapter 11 bankruptcy on Monday, deepening the uncertainty for customers who already had been unable to access their deposits for several weeks. The article BlockFi Bankruptcy Deals New Blow to Crypto. Andy Rosen writes for NerdWallet. Twitter: @[link].

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Crypto Exchange Platforms Grapple with Consequence of Filing Bankruptcy

PBWT

Exchange platforms also function similar to traditional securities brokers that facilitate the trading of investment products that are not typically held in the beneficial owner’s name. When a firm files for bankruptcy, SIPC provides insurance coverage that will help replace or restore the customers’ cash and investments.

article thumbnail

Crypto Company FTX Files Massive Bankruptcy in Delaware

PBWT

Earlier this year, we wrote about the challenges facing the crypto industry that resulted in the bankruptcy filings of Three Arrows Capital, Celsius Network, and Voyager Digital. On November 11, FTX Trading LTD and approximately 130 of its affiliates filed voluntary chapter 11 bankruptcy petitions in Delaware.

article thumbnail

Can I Discharge a Private Student Loan in Bankruptcy?

Sawin & Shea

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. As a result, the majority of debtors who file for Chapter 7 bankruptcy do not get their college loans dismissed. How do bankruptcy courts handle private student loans, however?

article thumbnail

WeWork forced to file for bankruptcy in the US

Collection Industry News

WeWork, the shared office firm that was once valued at $47bn (£38bn), has been forced to file for bankruptcy in the US. The bankruptcy will affect the company’s business in the US and Canada. The post WeWork forced to file for bankruptcy in the US appeared first on Collection Industry News.

article thumbnail

US bankruptcy case counts expected to continue climbing in 2024: Report

Collection Industry News

US bankruptcy filings rose 18% in 2023 due to higher interest rates, tougher lending standards, and the continued end of pandemic-era support measures, according to data from bankruptcy data provider Epiq AACER. ” Total bankruptcy filings were 34,447 in December 2023, a 16 percent increase from the December 2022 total of 29,654.