Evergrande officially confirmed its state of insolvency in the past two years at financial reports disclosed last month. The property company had about RMB1.84 trillion (US$255.6 billion) of assets as of the end of 2022, decreasing RMB270 billion, or 12.8%, from a year earlier. The asset va...
Filing bankruptcy is a personal decision that should be based on your specific circumstances. While all factors must be considered, your decision to file should be greatly influenced by the amount of debt you owe and your ability to repay it in the near future. A bankruptcy attorney can help...
Terraform Labs, the company behind the stablecoinTerraUSD, which collapsed and roiled cryptocurrency markets in 2022, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday. Singapore-based Terraform Labs, in a filing with the bankruptcy court in Delaware, ...
Evergrande first declared a default on its debt in late 2021 when the second largest property developer in China had a total of more than US$300 billion in liabilities. It triggered a cross-default of all outstanding U.S. dollar bonds on December 3, 2021, due to the failure to fulfill ...
Bluberi Technologies, Inc.: Representing this major designer and developer of gaming technology and equipment, and its subsidiaries, in Chapter 15 proceedings in the US Bankruptcy Court for the Northern District of Illinois and in parallel Compan...
The confidence crisis in US-listed China stocks has claimed its latest victim in CDC Corp (Nasdaq: CHINA), the former high-flying software maker which filed for bankruptcy in the US on Wednesday as it struggled under the weight of a costly lawsuit. (Chinese article) Old-timers will recall ...
The California-based firm has now said it is seeking to close up to 178 stores across the US, but has provided few details on other markets. "Decisions as to which international locations will be closing are ongoing. We do not expect to exit any major markets in the US," the spokesperso...
In Chapter 11 bankruptcy cases in the United States, firms are either reorganized, acquired, or liquidated. I show that decisions to liquidate often reduce creditor recovery, costing creditors billions of dollars every year. I exploit the within-district random assignment of bankruptcy judges to esti...
Both personal bankruptcy and redistributive taxes can insure households' consumption risk and both vary considerably across US states. We derive sufficient conditions under which more redistributive taxation makes bankruptcy exemptions less attractive both for the intratemporal insurance and for inter-temporal...