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30 Dec 2022, 4:05 am
According to an Open Letter from the Official Committee of Unsecured Creditors recommending that abuse victims vote to accept the plan:Under the Plan, the Debtor, its affiliates and their insurers will create a settlement fund of approximately $121.5 million (the “Settlement Amount”) upon the effective date of the Plan. [read post]
22 Dec 2022, 4:48 pm
The post Look At The Biglaw Firm Representing The FTX Creditors Committee appeared first on Above the Law. [read post]
22 Dec 2022, 6:20 am
As part of the bankruptcy process, a bondholder committee was formed to allegedly protect the rights of L-Bond owner/creditors. [read post]
19 Dec 2022, 5:58 pm
As part of this settlement agreement, the DPD has agreed to implement a series of changes to its language access policies, procedures and training, including: Updating its Language Access Policy and Plan in order to establish procedures for communicating with LEP individuals, including witnesses and suspects, and to prohibit the use of children, family members, or bystanders to communicate with LEP individuals, except in exigent circumstances; Appointing its first-ever LEP Coordinator… [read post]
19 Dec 2022, 9:54 am
A debt adjuster acts as an intermediary between a debtor and creditors for the purpose of settling, compounding, or altering the terms of payment of any debts. [read post]
15 Dec 2022, 8:00 am
December 2022 Clients, Friends, Associates: As we near the end of 2022, we have highlighted some recent industry updates that we believe may impact our clients. [read post]
15 Dec 2022, 4:00 am
December 2022 Clients, Friends, Associates: As we near the end of 2022, we have highlighted some recent industry updates that we believe may impact our clients. [read post]
13 Dec 2022, 1:11 pm
ALSO: From Financial Advisor: "At least $73 million of political donations tied to Sam Bankman-Fried’s FTX may be at risk of being clawed back as bankruptcy lawyers sort through the remnants of his crypto empire in search of assets to repay creditors.... [read post]
13 Dec 2022, 10:17 am
A settlement agreement with trucking company with Navajo Express announced by the Justice Department (“DOJ”) today a warns other businesses to use care when dealing with non-citizen applicants and workers to avoid violating the Immigration and Nationality Act (INA) while concurrently complying with federal mandates to verify eligibility of each worker to work in the United States. [read post]
12 Dec 2022, 1:05 am
Here, the debtors-in-possession (Campbell and Luke Records) and the estates’ Unsecured Creditors’ Committee (representing the creditors who were owed money) created a joint plan to pay the bankruptcy estates’ debts. [read post]
7 Dec 2022, 3:30 am
In response to a request by the federal rules committee’s working group on pro se electronic filing, the FJC conducted this study of where, when, and how pro se litigants can electronically file. [read post]
2 Dec 2022, 7:39 am
If a trustee is appointed, the trustee will act to avoid various pre-bankruptcy transfers made by Jones in an attempt to shield his assets (and if there is no trustee appointed, then a creditors' committee will seek authorization to do so). [read post]
30 Nov 2022, 5:50 am
The Debtors’ position, supported by the senior secured lender, equity owner of Alto Maipo, the parties to a restructuring support agreement and the unsecured creditor’s committee, was that the requested relief was in rem because (i) the Court had statutory in rem jurisdiction over all property of the Debtors’ estates, wherever located, under 28 U.S.C. [read post]
29 Nov 2022, 6:35 pm
Two mass shootings of workers at Walmarts in Virginia in less than a month and a series of other recent workplace shootings around the country should prompt other employers to evaluate the adequacy of their own workplace violence safeguards under and other laws. [read post]
29 Nov 2022, 3:15 am
The part of the petition that caught my eye is that the SEC is one of the largest creditors! [read post]
28 Nov 2022, 12:56 pm
More than $9.6 million in penalties imposed by the Occupational Safety and Health Administration (“OSHA”) against Dollar General Corp. and Dolgencorp LLC – operator of more than 18,000 Dollar General discount stores in 47 states (“Dollar General”) send a clear warning to other businesses to both ensure their safety processes and resources can withstand a safety event or audit under the Occupational Safety and Health Act (“OSH Act”) and to effectively address… [read post]
23 Nov 2022, 9:36 am
Enlarge / Then-CEO of FTX Sam Bankman-Fried speaks during a House Committee on Financial Services hearing on December 08, 2021 in Washington, DC. [read post]
16 Nov 2022, 8:55 am
The creditors’ committee is typically comprised of the debtor’s seven largest unsecured creditors, and the creditors’ committee can (and generally should) engage legal counsel to ensure adequate representation of all creditors’ rights. 3. [read post]
31 Oct 2022, 11:40 pm
JUSTICE SOTOMAYOR: --it's a 40-member committee. [read post]
31 Oct 2022, 4:00 am
The Consumer Creditors Committee appointed by the U.S. [read post]
