FTX joins growing list of high-profile and intertwined crypto-related chapter 11 filings

Crypto investors were dealt another blow on November 11 when FTX, the world’s second-largest cryptocurrency exchange, filed for chapter 11 bankruptcy relief in the District of Delaware, along with more than 130 related companies and affiliates. The bankruptcy was spawned by liquidity issues brought on by the sudden collapse in value of FTX’s crypto assets. Starting on November 6, customers simultaneously attempted to withdraw their funds and assets from the exchange, causing a situation akin to a classic bank run that led to an estimated $32 billion in value quickly evaporating.

Filed under:
USA, Banking, Insolvency & Restructuring, IT & Data Protection, Thompson Hine LLP, Bankruptcy, Cryptocurrency, US Securities and Exchange Commission
Authors:
Sean A. Gordon , Alexander Andrews
Location:
USA
Firm:
Thompson Hine LLP
Risk Mitigation in Supply Chain Contracts: Consigned Goods

Key Notes:

Filed under:
USA, Company & Commercial, Insolvency & Restructuring, Thompson Hine LLP, Coronavirus, Uniform Commercial Code (USA)
Authors:
Kip T. Bollin , David S. Forsh , Sean A. Gordon , Kyle Hutnick , Laura Watson Schultz , Louis F. Solimine
Location:
USA
Firm:
Thompson Hine LLP
Risk Mitigation in Supply Chain Contracts: Critical Vendor, Reclamation and Pipeline Claims

Key Notes:

Filed under:
USA, Company & Commercial, Insolvency & Restructuring, Thompson Hine LLP, Supply chain, Coronavirus, Title 11 of the US Code
Authors:
Connie Boland , David S. Forsh , Sean A. Gordon , Matthew Kerschner , Jessica Kincaid , Laura Watson Schultz , Louis F. Solimine
Location:
USA
Firm:
Thompson Hine LLP
New COVID-19 Relief Package Provides Additional Pandemic Bankruptcy Protections

Key Notes:

Filed under:
USA, Insolvency & Restructuring, Real Estate, Thompson Hine LLP, Landlord, Coronavirus, Paycheck Protection Program, CARES Act 2020 (USA)
Authors:
Sean A. Gordon , Austin Alexander
Location:
USA
Firm:
Thompson Hine LLP