Bankruptcy

Celsius Network, the bankrupt cryptocurrency lender, may have hidden its financial trouble from its investors and "engaged in improper manipulation of the price" of the platform's tokens to boost the company's balance sheet and financials, according to a new court filing.

Celsius Network, the bankrupt cryptocurrency lender, is seeking to give coins back to a sliver of users who are locked out of their accounts. 

Voyager Digital won a bankruptcy judge's permission to pay $1.6 million in bonuses to employees deemed critical to the insolvent crypto lender's future.

A former money manager for Celsius Network deceived the company about his investing abilities and lost or stole tens of millions of dollars in assets, the bankrupt crypto lender alleged in a lawsuit Tuesday.

Citigroup has sued Revlon in a bid to resolve a nagging legal question that emerged after the bank mistakenly wired $900 million to the cosmetics giant's lenders and intensified after Revlon filed for bankruptcy.

The cryptocurrency lender Celsius Network filed for Chapter 11 bankruptcy, the latest casualty of a $2 trillion crash that has wiped out some of the industry’s biggest names and exposed hundreds of thousands of individual investors to steep losses.

As Celsius Network’s customer withdrawal freeze enters a full month, the beleaguered crypto lender has paid back a string of debts totaling more than $900 million during the same period to decentralized-finance platforms. 

Securities regulators in Texas and Alabama are expanding their investigations into Voyager Digital and Celsius Network to account for new information arising from the implosions of the two crypto-lending firms. 

The reduction in debt during the first quarter was the second largest on record, according to a new report by the New York Fed. Government stimulus payments and continuing limitations on travel and entertainment spending are key factors.

The Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's most-read stories.

Lawmakers shouldn't let themselves be misled by a slower pace in personal bankruptcy filings so far this year.

The industry dodged a bullet after the former vice president outlasted more progressive rivals for the Democratic presidential nomination. But some worry the presumptive nominee will have to consider calls for tougher regulation from his party's liberal wing.

Executives at Beach Community want to pursue more acquisitions in central Florida.

Marcus and the Apple credit card accounted for 3% of the bank’s profit in the first three quarters of 2019, despite a multibillion-dollar investment in consumer operations; the senator’s plan would make it easier to expunge debt.

Elizabeth Warren rolled out a plan Tuesday to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, taking an implicit shot at the Democratic presidential front-runner just before the first nominating contests next month.

Issuers have started adding metal to their credit cards; banks have been “slow” to add diversity in executive ranks, filings suggest.

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.