Backpack Exchange, a crypto trading platform founded by one-time employees of Sam Bankman-Fried’s FTX and Alameda Research businesses, has acquired the former European entity of the failed FTX exchange for $32.7 million to expand its derivatives offerings in the region, Bloomberg News reported. FTX EU was one of the business units that ended up as part of the bankruptcy after Bankman-Fried’s firm collapsed in 2022.

The U.S. Justice Department said on Tuesday it will share $50 million in forfeited assets with Estonia in recognition of Estonia's assistance in the successful prosecution of Danske Bank and related forfeiture, Reuters reported. The bank became the subject of several investigations after an internal probe in September 2018 uncovered about 200 billion euros ($207 billion) of payments made through its now-shuttered Estonian branch, with many payments appearing suspicious.

Northvolt AB is asking for shareholder approval to keep building battery cells while the bankrupt electric-vehicle supplier seeks the new funding needed to emerge from chapter 11 protection, Bloomberg News reported. The extraordinary general meeting scheduled for Wednesday at Northvolt’s Stockholm headquarters is billed as a “procedural step” by the company. The gathering, announced in December, is required when equity falls below one-half of registered share capital, spokesman Martin Hofelmann said in an email.

The beverage maker linked to Canada’s deadly listeria outbreak in plant-based milks last summer has filed for protection from creditors as it attempts to restructure, according to documents filed by its licensed insolvency trustee, the Globe and Mail reported. Joriki Inc., which operated a production facility in Pickering, Ont., that produced certain types of plant-based milks recalled in July, is seeking protection to restructure under the Bankruptcy and Insolvency Act.

Canadian Prime Minister Justin Trudeau has announced his resignation, telling the nation that “internal battles” mean he “cannot be the best option” in the next election, the Associated Press reported. Trudeau said Monday he has asked the president of his Liberal Party to begin the process to select a new leader. He has faced rising discontent over his leadership, and the abrupt departure of his finance minister late last year signaled growing turmoil within his government. Parliament will be suspended until March 24. It had been due to resume Jan. 27.

Cobalt miner Jervois Global said on Thursday that one of its lenders will take the company private as part of a pre-packaged bankruptcy, the latest Western miner scrambling to survive as competition from China intensifies, Reuters reported. U.S. fund manager Millstreet Capital Management will take control of Jervois as part of the pre-packaged chapter 11 filing, inject $145 million into the company and convert more than $100 million of loans into equity.

Business bankruptcies across Canada have risen to their highest level in 15 years, Baystreet.ca reported. The latest data from the Canadian Association of Insolvency and Restructuring Professionals shows that 1,312 companies filed for bankruptcy during the third quarter of 2024, the highest level since the 2009 financial crisis. On a yearly basis, bankruptcy filings rose in every province except New Brunswick and Newfoundland during Q3 2024. In Ontario, bankruptcy filings rose 67% year-over-year in Q3, while bankruptcy filings in Quebec increased 40%.