A U.S. judge said that Barclays must face part of a proposed class action by shareholders over the British bank's sale of $17.7 billion more debt than regulators had allowed, Reuters reported. U.S. District Judge Katherine Polk Failla in Manhattan said that shareholders adequately alleged that Barclays' failure to disclose the absence of internal controls to catch the error was a material omission of fact.

Disgraced cryptocurrency entrepreneur Do Kwon should be extradited to the U.S. to face trial on fraud charges, rather than to his native South Korea, a court in the tiny Balkan country of Montenegro has ruled, the Wall Street Journal reported. Kwon’s lawyers have three days to appeal the ruling by the High Court in the Montenegrin capital of Podgorica, a spokeswoman for the court said Wednesday. The appeals court will have the final word in the case, she added. A local lawyer for Kwon, Goran Rodić, called the ruling illegal and pledged to appeal.

Liquidators of companies linked to the 1Malaysia Development Bhd scandal have filed for chapter 15 under the U.S. Bankruptcy Code, as they look to recover assets, Bloomberg News reported. A petition listing 1MDB Energy Holdings Ltd, Platinum Global Luxury Services Ltd, Aabar International Investments PJS Ltd, Blackrock Commodities (Global) Ltd, and Alsen Chance Holdings Ltd - all registered in the British Virgin Islands - was submitted in the Southern District of Florida court, dated Feb. 15.

After the U.S. dropped a broad array of sanctions against Venezuela in October, it warned that it could reimpose all of them, except one. The White House admitted that its ban on buying Venezuelan bonds was a failure that had potentially benefited enemies of the U.S., the Wall Street Journal reported. Behind the scenes, a group of powerful Wall Street investors had been feeding Washington a stream of evidence that showed Venezuelan bonds were being traded by investors with ties to Russia. They said Moscow was hoping to gain influence in the U.S.’s backyard.

Bankrupt Brazilian airline Gol Linhas Aereas Inteligentes SA won court permission to investigate whether its rival Latam Airlines Group SA sought to take unfair advantage of its recent chapter 11 filing by improperly soliciting major Boeing Co. aircraft suppliers, Bloomberg News reported. Judge Martin Glenn said Monday there is merit in investigating allegations Latam tried to either poach or interfere with Boeing 737 aircraft lessors doing business with Gol after the Brazilian budget airline filed bankruptcy last month.

Brazilian airline Gol said on Thursday it is filing for chapter 11 bankruptcy protection in the United States, with a $950 million financial commitment from its controlling shareholder Abra Group, Reuters reported. Abra also controls Colombian carrier Avianca, though the two airlines operate separately. The move makes Gol the latest Latin American carrier to seek bankruptcy protection after a pandemic-related crisis, following the path of its sister company Avianca, Mexico's Aeromexico and Chile-based LATAM Airlines.

An oil trader sued the United Arab Emirates for $2.8 billion over allegations the state directed a smear campaign that pushed his company into bankruptcy, Bloomberg News reported. The complaint, based on more than 8,000 hacked documents, shines a spotlight on the shadowy world of private intelligence agencies for hire. Oil trader Hazim Nada alleges that his company Lord Energy SA was targeted by a campaign of misinformation orchestrated by Swiss firm Alp Services SA, and ultimately directed by the UAE and its president, Sheikh Mohammed bin Zayed.

Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed and roiled cryptocurrency markets in 2022, filed for chapter 11 protection, according to court papers filed on Sunday, Reuters reported. Singapore-based Terraform Labs, in a filing with the bankruptcy court in Delaware, listed assets and liabilities in the range of $100-$500 million. Terraform Labs said it would meet all financial obligations to employees and vendors during the Chapter 11 case without requiring additional financing. It also plans to continue Web3 offerings expansion.

The world’s largest sovereign-wealth fund is going after the now-defunct Silicon Valley Bank, its management and the Wall Street advisers that aided its rise, the Wall Street Journal reported. Norges Bank Investment Management, which manages Norway’s $1.5 trillion wealth fund, and other former SVB shareholders attacked the failed bank in a legal filing late Tuesday. The filing accused SVB and its executives of concealing the lender’s ailing health from public view, while also ignoring warnings about risks from rising interest rates.

China’s state-owned banks are tightening curbs on funding to Russian clients after the US authorized secondary sanctions on overseas financial firms that aid Moscow’s war effort in Ukraine, Bloomberg News reported. At least two banks ordered a review of their Russian business in recent weeks, focusing on cross-border deals, said the people, asking not to be identified discussing a private matter.