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Showing 21 - 30 of 254 results for "Bankrupt"

Federal Reserve plans upping capital requirements

CASSANDRA BALDINI  |  TUESDAY, 11 JUL 2023
The US Federal Reserve has proposed a regulatory overhaul in which the nation's largest banks would be forced to hold more capital in hopes future meltdowns in the sector can be prevented. Federal vice chair for supervision Michael Barr outlined ...

BlackRock files for bitcoin ETF

ANDREW MCKEAN  |  FRIDAY, 16 JUN 2023
BlackRock's iShares has filed paperwork with the US Securities and Exchange Commission (SEC) to develop a spot bitcoin ETF. The iShares Bitcoin Trust will seek to mirror the performance of bitcoin's price before the payment of expenses and liabilities. ...

Former Octaviar director sees charges dropped

CHLOE WALKER  |  TUESDAY, 4 APR 2023
... Octaviar, was discharged by the judge. In 2021, MFS Group former chief executive Michael Christodoulou King was declared bankrupt after he failed to pay a penalty to ASIC of $300,000. MFS Group, later Octaviar, collapsed in 2008 owing $2.5 billion. It ...

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
... companies and their directors to resort to the scheme - otherwise we risk groups allowing their advice entities to go bankrupt (and the profession wearing the costs of consumer compensation), while the group and its directors continue their other profitable ...

2023 will be better for bonds: Experts

CASSANDRA BALDINI  |  TUESDAY, 10 JAN 2023
Last year marked the worst performance for bonds since the 1970s and while soaring inflation overshadowed this narrative, it remains an important economic storyline for investors. Stepping into a new year and shaking off the 2022 credit chaos the question ...

BlockFi files for bankruptcy, crypto contagion worsens

ANDREW MCKEAN  |  TUESDAY, 29 NOV 2022
Another multi-billion crypto exchange bites the dust, BlockFi has filed for Chapter 11 protection, commencing a restructuring proceeding to stabilise its business. As part of its restructuring, BlockFi will focus on recovering all obligations owed to ...

ASIC suspends FTX Australia's licence

ANDREW MCKEAN  |  WEDNESDAY, 16 NOV 2022
ASIC has suspended the Australian financial services licence of embattled crypto company FTX. FTX entered voluntary administration on November 11, and the AFSL is suspended until 15 May 2023. However, for the time being, FTX can continue to provide ...

Zipmex files for debt relief amid ongoing crypto crash

CASSANDRA BALDINI  |  FRIDAY, 29 JUL 2022
... shortages earlier in the month resulting in the suspension of withdrawals. Zipmex also said it is owed US$5 million by bankrupt Celsius Network. According to data gathered by CoinMarketCap, the overall crypto market has declined by 9.37% over the past ...

Celsius latest casualty in crypto crash

CASSANDRA BALDINI  |  FRIDAY, 15 JUL 2022
Celsius Network has filed for Chapter 11 bankruptcy making it the latest victim of the crypto crash. In a statement, Celsius said it has filed with the Court a series of customary motions to allow it to continue operation. These "first day" motions ...

Crypto lures executives despite ongoing uncertainty

CASSANDRA BALDINI  |  THURSDAY, 14 JUL 2022
A new report from ETF Securities suggests more people from traditional financial institutions are leaving their jobs for crypto companies. According to the report, the most recent move was from three J.P. Morgan executives. After a little over 21 years ...