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In June 2022, Voyager Digital announced that Three Arrows Capital had not repaid loans totaling $666 Million. [1]On July 1, the company suspended “trading, deposits, withdrawals and loyalty rewards” [2] and subsequently on July 5, the company filed for Chapter 11 bankruptcy protection.
Bankruptcies played a significant role in economic news in 2024 with retailers, restaurants and an airline all looking for bankruptcy protection to keep from having to shut down entirely
[3] [4] [5] The company borrowed billions of dollars to fund its trading, and according to July 2022 bankruptcy filings, faces $3.5 billion in creditors' claims. [6] [7] The fund appears to have lost in excess of $3 billion over 2021 and 2022, making its collapse one of the largest hedge-fund trading losses of all time. [citation needed]
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Digital Insight: Its shares soared 114% on its first day of trading. Divine: Founded by Andrew Filipowski, it was modeled after CMGI. It went public as the bubble burst and filed for bankruptcy after executives were accused of looting a subsidiary. DoubleClick: An online advertising company that soared after its IPO, it was acquired by Google ...
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In its bankruptcy filing in November 2022, BlockFi had cited its loans to FTX's sister firm Alameda as one of the reasons for its collapse. Crypto lender BlockFi begins post-bankruptcy wind-down ...
A fall from grace. Founded in 1978, The Container Store went public on Nov. 1, 2013, pricing its initial public offering at $525 per share. By the close of trading that day, shares closed at $543.