Tuesday, February 11

Tag: Bankruptcy

Insolvency judge turns down The Onion’s quote to purchase Alex Jones’ Infowars
General

Insolvency judge turns down The Onion’s quote to purchase Alex Jones’ Infowars

A personal bankruptcy judge on Tuesday turned down a quote by The Onion's moms and dad business to purchase Alex Jones' reactionary media empire, consisting of the site Infowars, ruling that the auction procedure was unjust.U.S. Bankruptcy Judge Christopher Lopez stated after a two-day hearing that The Onion's moms and dad business, Global Tetrahedron, had actually not sent the very best quote and was mistakenly called the winner of an auction last month by a court-appointed trustee."I do not believe it's sufficient cash," Lopez stated in a late-night judgment from the bench in a Houston court. "I'm going to not authorize the sale." It was not instantly clear whether there would be a brand-new auction in which The Onion might bid once again for Jones' properties. Lopez stated he would leav...
GM Related Lordstown Motors Completes Bankruptcy Deal
Science and Nature

GM Related Lordstown Motors Completes Bankruptcy Deal

Home" Energy" GM Related Lordstown Motors Completes Bankruptcy Deal Lordstown Motors has actually finished a personal bankruptcy offer. GM invested $75 million in the EV start-up Lordstown Motors in 2019, and after that offered in late 2021. GM invested as part of the sale of an Ohio plant to the electrical lorry start-up along with a $675 million SPAC offer that took Lordstown public. Lordstown Motor declared more than 100,000 nonbinding pre-orders for the automobile from industrial fleet clients. The SEC stated, the majority of the pre-orders were phony. GM has had a long list of significant failures with its efforts to buy EV associated business or make electrical vehicles. GM remembered 140,000 Chevrolet Bolt EV lorries made in between 2017 and 2023 and 2022 Bolt EUV designs due ...
Adobe quits on Figma, Apple Watch sales stopped and hackers gain access to countless accounts
Technology

Adobe quits on Figma, Apple Watch sales stopped and hackers gain access to countless accounts

Hey, folks, welcome to Week in Review (WiR), TechCrunch's routine newsletter that summarizes the leading tech-- and tech-related-- stories over the previous a number of days. With the vacation around the corner, this press reporter anticipated a quieter week. The opposite taken place-- there's been no scarcity of stories to compose about. In this edition of WiR, we cover Comcast and Mr. Cooper client information being taken, electrical scooter business Bird declare personal bankruptcy, Adobe ending its Figma acquisition strategies, and Apple being required by the International Trade Commission (ITC) to stop sales of the Apple Watch. We likewise highlight Nikola creator Trevor Milton's securities scams sentencing, Microsoft's Copilot chatbot getting a music generation function and Consumer ...
SafeMoon Files for Bankruptcy After Executives Face Fraud Charges
Business

SafeMoon Files for Bankruptcy After Executives Face Fraud Charges

Crypto company SafeMoon applied for Chapter 7 personal bankruptcy on December 14th, leading to an instant 31% plunge of its token cost. The relocation begins the heels of SafeMoon executives being criminally charged with securities scams conspiracy, wire scams conspiracy, and cash laundering conspiracy by U.S. authorities last month. Keypoints SafeMoon declared Chapter 7 personal bankruptcy, likewise referred to as "liquidation insolvency", on December 14th The filing came quickly after SafeMoon executives were charged by the SEC with securities scams and apprehended The SafeMoon token plunged 31% in 5 hours following the personal bankruptcy statement The token has actually tipped over 98% from its all-time high cost of $0.0033 in January 2022 Lots of previous SafeMoon advocates revealed...