Bankruptcy | Jotup

FTX Debtors Launch Online Claims Portal for Customers

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Thursday, July 13, 2023

LLP, Bankruptcy, FTX, FTI Consulting, Multimedia, Oliver Cromwell, Jefferies Group, United States bankruptcy court, Know your customer, Sullivan & Cromwell, Quinn Emanuel Urquhart & Sullivan, UCC, KYC, Cryptocurrency, Online shopping

WILMINGTON, Del., July 13, 2023 /PRNewswire/ -- FTX Trading Ltd. (d.b.a. FTX.com), and its affiliated debtors (together, the "FTX Debtors"), today announced the launch of the online customer claims portal for customers. The portal can be accessed at https://claims.ftx.com.

Key Points:

FTX.com), and its affiliated debtors (together, the "FTX Debtors"), today announced the launch of the online customer claims portal for customers.
The FTX Debtors have begun noticing all known customers on a rolling basis over the coming weeks via email and, for those for whom the FTX Debtors only have a physical mailing address, via mail.
Notices will include instructions for how customers can submit proofs of claims, including accessing the customer claims portal.
The FTX Debtors encourage customers to submit claims via the claims portal and note that there may be a processing delay for any claims that are submitted by mail.

FTC Reaches Settlement with Crypto Platform Celsius Network; Charges Former Executives with Duping Consumers into Transferring Cryptocurrency into their Platform and then Squandering Billions in User Deposits

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Thursday, July 13, 2023

The companies also agreed to a judgment of $4.7 billion, which will be suspended to permit Celsius to return its remaining assets to consumers in bankruptcy proceedings.

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The companies also agreed to a judgment of $4.7 billion, which will be suspended to permit Celsius to return its remaining assets to consumers in bankruptcy proceedings.
New Jersey-based Celsius—which filed for bankruptcy in July 2022—marketed a variety of cryptocurrency products and services to consumers, including interest-bearing accounts, personal loans secured by their cryptocurrency deposits, and a cryptocurrency exchange.
Many consumers reported that these promises were important factors in their decision to deposit cryptocurrency with Celsius.
In opening accounts with Celsius, consumers were required to provide access to sensitive information including their bank account and other financial information.
Far from securing customers’ cryptocurrency deposits, Celsius took title to and misappropriated these deposits totaling more than $4 billion, according to the complaint.
The FTC says that Celsius and its top executives also failed to deliver the returns they promised on consumers’ cryptocurrency.

Diebold Nixdorf Plan of Reorganization Confirmed

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Thursday, July 13, 2023

United States bankruptcy court, Bankruptcy, DN, Security (finance), Bank, Diebold Nixdorf

HUDSON, Ohio, July 13, 2023 /PRNewswire/ -- Diebold Nixdorf today announced that the U.S. Bankruptcy Court in the Southern District of Texas has confirmed the company's plan of reorganization related to its comprehensive debt restructuring. This confirmation is one of the final steps in Diebold Nixdorf's restructuring, allowing the company to move forward and execute its plan. The company continues to anticipate completing the debt restructuring process during the third quarter after final conditions are met and Dutch legal processes and court proceedings are concluded.

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HUDSON, Ohio, July 13, 2023 /PRNewswire/ -- Diebold Nixdorf today announced that the U.S. Bankruptcy Court in the Southern District of Texas has confirmed the company's plan of reorganization related to its comprehensive debt restructuring.
This confirmation is one of the final steps in Diebold Nixdorf's restructuring, allowing the company to move forward and execute its plan.
The company continues to anticipate completing the debt restructuring process during the third quarter after final conditions are met and Dutch legal processes and court proceedings are concluded.
Octavio Marquez, Diebold Nixdorf chairman, president and chief executive officer, said: "This represents another significant milestone in our process to strengthen our balance sheet, enhance liquidity and position Diebold Nixdorf for long-term success.

California Oil Regulators Continue Issuing Permits In Q2 To Rework Leaky, Unproductive Wells; Should Order Plugging Instead, Advocates Say

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Thursday, July 13, 2023

Ferrar, See, Natural Resources, Consumer Watchdog, The FracTracker Alliance, Chevron, Environment, Bankruptcy, Airline, Oil

In the second quarter, 92% of the wells that got rework permits produced less than 15 barrels daily, according to CalGEM data analyzed by FracTracker Alliance.

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In the second quarter, 92% of the wells that got rework permits produced less than 15 barrels daily, according to CalGEM data analyzed by FracTracker Alliance.
"The latest permit numbers show approvals to drill new wells have cratered, while permit approvals to rework old leaky wells continue to rise," said Consumer Advocate Liza Tucker.
The rework permits helped larger oil companies like Chevron unload these bad assets on smaller companies destined for bankruptcy."
Of the total 754 rework, sidetrack, and deepening permits issued, 32% were within the 3,200' public health protection zone.

TWO SKLAR KIRSH ATTORNEYS NAMED AMONG THE NEXT GENERATION OF LEGAL LEADERS IN AMERICA

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Thursday, July 13, 2023

Los, Rising Star, Sport, Intellectual property, Next Generation, Fraud, Partner, Bankruptcy, Negotiation, Thomson Reuters, Management, Property management

This seminal guide honors the burgeoning legal talent infusing traditional and innovative practices with fresh energy and forward-thinking perspectives.

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This seminal guide honors the burgeoning legal talent infusing traditional and innovative practices with fresh energy and forward-thinking perspectives.
"This is our inaugural guide dedicated to those who will define the future of the legal profession," states the publisher.
Co-Founding Partner Jeffrey Sklar adds, "Jennifer and Rachael's devotion to the firm's clients and passion for the law does not go unnoticed.
She was recently recognized by the Los Angeles Business Journal on its list of "Leaders of Influence: Minority Attorneys" in 2023.

AeroFarms Provides Business Update on Restructuring Efforts

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Thursday, July 13, 2023

Newark, NJ, July 13, 2023 (GLOBE NEWSWIRE) -- AeroFarms, Inc. (“AeroFarms” or the “Company”), a global leader in indoor vertical farming, today provided an update on its business and its Chapter 11 case.

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Newark, NJ, July 13, 2023 (GLOBE NEWSWIRE) -- AeroFarms, Inc. (“AeroFarms” or the “Company”), a global leader in indoor vertical farming, today provided an update on its business and its Chapter 11 case.
On Tuesday, July 11, 2023, AeroFarms filed with the United States Bankruptcy Court in Delaware (the “Court”) Case No.
The Company seeks to conduct an auction to sell Company assets under Section 363 of the Bankruptcy Code (“363 Sale”), while it continues ordinary operations of the business.
AeroFarms is represented by DLA Piper as counsel, Cloudpoint Capital as investment banker, and ICR, Inc. as strategic communications advisor.

The Ad Council's 69th Annual Public Service Award Dinner to honor Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase

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Thursday, July 13, 2023

NEW YORK, July 13, 2023 /PRNewswire/ -- The Ad Council has announced that its 69th Public Service Award Dinner will honor Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase.

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NEW YORK, July 13, 2023 /PRNewswire/ -- The Ad Council has announced that its 69th Public Service Award Dinner will honor Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase.
The Ad Council has benefited incredibly from the support of JPMorgan Chase and we look forward to many more years of partnering together on the most pressing issues facing our country."
Jamie Dimon is Chairman of the Board and Chief Executive Officer of JPMorgan Chase, a global financial services firm with assets of $3.7 trillion and operations worldwide.
This year's event will be co-chaired by board members Carla Hassan (Chief Marketing Officer, JPMorgan Chase) and Diego Scotti (Chief Marketing Officer, Verizon).

TWO FRANDZEL ATTORNEYS NAMED AMONG THE NEXT GENERATION OF LEGAL LEADERS IN AMERICA

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Thursday, July 13, 2023

Sale, Next Generation, Title 11 of the United States Code, Partner, Bankruptcy, Management

announced today that Wesley King and Gerrick Warrington have been listed in the first Lawdragon 500 X – The Next Generation guide.

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announced today that Wesley King and Gerrick Warrington have been listed in the first Lawdragon 500 X – The Next Generation guide.
This seminal guide honors the burgeoning legal talent infusing traditional and innovative practices with fresh energy and forward-thinking perspectives.
"This is our inaugural guide dedicated to those who will define the future of the legal profession," states the publisher.
Managing Shareholder Hemal Master adds, "We are so proud to have such industrious and devoted attorneys at our firm.

$15K from Home Bank and FHLB Dallas Gives Air Force Veteran Fresh Start

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Wednesday, July 12, 2023

Funds can be used for modifications to an existing home, to offset construction costs, or assist with down payments and closing costs.

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Funds can be used for modifications to an existing home, to offset construction costs, or assist with down payments and closing costs.
In addition, the funds may be used to assist Gold Star Families that were impacted during this timeframe.
Miles was able to make critical repairs to her home, which was damaged by Hurricane Ida in 2021.
She credits Community Development Director and Senior Vice President Kelvin Luster at Home Bank for a smooth application and review process.