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New system for filing MtGox claims set to be released in August

“Due to the stay of the bankruptcy proceedings, MtGox bankruptcy claims filing system has been temporarily suspended” reports financefeeds.com. Furthermore, in bankruptcy proceedings, bankruptcy claims that have not been filed are not stated in the statement of approval or disapproval of claims.Conversely, in civil rehabilitation proceedings, the civil rehabilitation debtor retains the power and authority to administer and dispose of its assets.In contrast, in civil rehabilitation proceedings, the rehabilitation debtor, etc. will state the rehabilitation claims which the rehabilitation debtor, etc., is aware of in the statement of approval or…

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U.S. judge nixes move to toss Puerto Rico bankruptcy case

“(Reuters) – A federal judge on Friday rejected an attempt by a major Puerto Rico bondholder to throw out the U.S. territory’s historic municipal bankruptcy case” writes Midwest Communications Inc for 95kqds.com. PROMESA gave the board authority to push fiscally struggling Puerto Rico into a court-supervised restructuring akin to U.S. bankruptcy.”The oversight board’s statutory objectives and scope of authority thus mark its character as territorial rather than federal,” Swain’s ruling said. Source: 95kqds.com Share This:

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Judge approves revised Weinstein Co. bankruptcy sale plan

“An attorney for the company’s official committee of unsecured creditors, a group that includes women who have accused Harvey Weinstein of sexual abuse and harassment, said the settlement was the result of intense negotiations” writes The Associated Press for nydailynews.com. Those negotiations included the committee successfully arguing that the sale price should be lowered by $21 million, not the initially agreed-upon $23 million. Source: nydailynews.com Share This:

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Boris Becker denies bankruptcy and applies for restraining order to stop auction of his Wimbledon trophies

“Boris Becker has denied that he is bankrupt and announced that he is taking out a restraining order to prevent the sale of his trophies” writes Wil Crisp for telegraph.co.uk. “Next week, my lawyers in England will apply for a restraining order to stop the auction,” he told Germany’s Bild am Sonntag tabloid.The retired tennis champion said in comments published Sunday that his lawyers will be applying for a restraining order to stop an auction of his belongings, which includes Wimbledon trophies he won at the height of his career.”This…

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Retired tennis star Boris Becker claims diplomatic immunity

“LONDON (AP) Retired German tennis star Boris Becker is claiming his unpaid role as a sports attache for Central African Republic gives him diplomatic immunity from bankruptcy proceedings in Britain” reports foxsports.com. Becker was named to the volunteer sports attache role on April 26, more than nine months after his bankruptcy declaration. Source: foxsports.com Share This:

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Dick’s Sporting Goods is skyrocketing after reporting strong earnings and raising guidance

“Dick’s Sporting Goods is surging, up 21.23% early Wednesday, after reporting solid first-quarter earnings and guidance” writes Jacob Sonenshine for aol.com. Dick’s sees 2018 full-year earnings-per-share of between $2.92 and $3.12, well ahead of its previous outlook for $2.80 to $3.00.”Our strong first quarter earnings reflect improved execution against our merchandising strategy, which resulted in higher merchandise margins,” Chairman and CEO Edward W. Stack said in the earnings press release. Source: aol.com Share This:

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How to fix the bankruptcy system for student loan borrowers

“Student loan borrowers looking to get a fresh start in bankruptcy have little hope” writes Jillian Berman for marketwatch.com. It’s difficult to wipe away a student loan in bankruptcy.Get rid of obstacles that make it costly for borrowers to pursue a student loan discharge in bankruptcy One of the reasons it’s so rare for borrowers to have their student loans wiped away in bankruptcy: So few actually try.Proving an undue hardship often requires costly litigation that borrowers filing for bankruptcy aren’t likely to be able to afford.For the past several…

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Gawker abandons potential lawsuit, negotiates truce with Peter Thiel

“The agreement ends legal wrangling between Gawker Media and Thiel and offers protection to the eventual purchaser of its flagship blog, Gawker.com” writes Jonathan Randles for marketwatch.com. As part of the new agreement, Thiel will not purchase Gawker.com, which will be sold in bankruptcy.Attorneys for Gawker Media attempted to build a legal case against Thiel over his secret funding of litigation that drove the publisher into bankruptcy in 2016.Judge Stuart Bernstein of the U.S. Bankruptcy Court in New York said at a hearing he will approve the agreement ultimately reached…

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