Creditors Of Bankrupt FTX To Receive As Much As 142% Of What They Are Owed
FTX’s bankruptcy is yielding an unexpected outcome and creditors could receive up to 142% of what they are owed. This remarkable recovery is due to FTX’s asset liquidation and the recent cryptocurrency boom. When the cryptocurrency market was experiencing a massive comeback in March, we made a joke about the creditors of Sam Bankman-Fried’s bankrupt […]
How Russian Stormbringer Nuclear Cruise Missile Can Bankrupt US War Machine
Dmitry Kornev, the creator of the MilitaryRussia.ru portal, said that the Russian nuclear cruise missile called ‘Burevestnik’, which translates to “Stormbringer,” can bankrupt the US war machine. The “Burevestnik” (“Stormbringer”), a Russian nuclear-powered, nuclear-capable cruise missile unlike anything in any other country’s arsenal, was successfully tested, according to President Putin. What is known thus far […]
UAE Becomes Global ATM As West Go Bankrupt
According to Ibrahim Ajami of the Abu Dhabi State Fund, Mubadala, UAE, becomes a global ATM as the West goes bankrupt. Five Years ago, after Washington Post columnist Jamal Khashoggi was killed in the Saudi consulate in Istanbul, virtue-signaling American finance executives withdrew from a Saudi Arabian event in Riyadh. Private equity, venture capital, and […]
China’s Evergrande Files For Bankruptcy
China’s Evergrande Group, previously the second-largest property developer in the country, declared bankruptcy in New York on Thursday. The company faced significant financial troubles and defaulted on its debt in 2021. This triggered a major property crisis in China’s economy, the effects of which persist today. Evergrande sought Chapter 15 bankruptcy protection, allowing a US […]
There Are 70 Major Bankruptcies In Just 4 Months This Year
According to data collected by Bloomberg, there were 70 major bankruptcies in just 4 months this year, surpassed only by the years 2009 and 2020. For 2009 there were 118 bankruptcies through April. In Covid-impacted 2020, there were 71 bankruptcies. In 2023 there have been 70. This is the third worst start to the year […]
Wuhan City Is Bankrupt
According to a statement published by the official Changjiang Daily newspaper on Friday, Wuhan City’s finance bureau announced that a total of 259 companies owed it more than 100 million yuan ($14 million) combined, leading it to declare bankruptcy. Wuhan, the largest city in central China, has publicly demanded that hundreds of local companies repay […]
US Corporations Are Filing For Bankruptcy At The Fastest Pace Since 2010
According to figures compiled by bankruptcydata.com, US corporations are filing for bankruptcy at the fastest pace since 2010. As per the data, twenty-seven large debtors have filed for bankruptcy. One would not know it from looking at the S&P which just hit a 2023 high, but there is a bit of a bankruptcy crisis sweeping […]
How Wipro May Have Played A Part In Vice’s Bankruptcy
Vice’s Chief Restructuring Officer, Frank Pometti, stated that Wipro may have played a part in Vice’s bankruptcy as they owed $9.9 million. This owed amount came after Wipro initiated arbitration proceedings against Vice Media in May 2020, which were connected to the termination of an agreement. Indian IT major Wipro may have been one of […]
Biggest Startup Bankruptcies Of All Time
According to data provided by PitchBook, here is a list of the biggest startup bankruptcies of all time. Vice Media has filed for bankruptcy, despite having raised over $1.6 billion from venture capitalists. The big picture: Vice now joins an ignominious club of well-funded flameouts. Intarcia FTX Douglas Boneparth, a 38-year-old financial adviser from New York, stated that the […]
What Happens When The United States Goes Bankrupt
When the United States goes bankrupt, one consequence would be the loss of the US dollar as the global reserve currency, leading to the return of dollars held in many national reserve banks back to the US. The current known federal debt is $31.7 trillion according to the web site, US Debt Clock, which is about […]