Category: bankruptcy
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Tricolor Car Buyers Trusted TikTok Hero With Criminal Past
In Francisco Aguirre’s telling, he thought it was odd that a friend described buying a car from Tricolor Holdings that came without a license plate.
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Tricolor Implosion Pits Wall Street Against Immigrant Car Buyers
Borrowers have filed motions seeking to have their loans suspended until a federal court decides how to divvy up payments, but getting relief won’t be easy. US bankruptcy judge Michelle Larson has ruled that anyone who wants to suspend loan payments while they pursue legal action against Tricolor must pay…
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Nikola Bankruptcy Appeal Tests the Reach of Trump’s Pardon Power
Milton is trying to use the “full and unconditional” pardon the president awarded him last spring to test new limits in court and, with it, the centuries-old concept of the separation of powers.
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Bourbon, Monet, and Tax Credits Find a Niche Market in Bankruptcy
Bourbon is just one example of the increasingly eclectic, and often difficult to value, classes of assets being offered for sale through the bankruptcy marketplace. Alongside real estate, unused tax credits, intellectual property, and unpaid judgments, debtors across the financial spectrum have offered a 1990 Ferrari F40, private jets, thoroughbred…
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Private Lender Moves Risk Extend-and-Pretend Path to Bankruptcy
Private credit lenders are easing loan terms on existing deals in hopes of staving off costly restructurings, at the risk of an extend-and-pretend dynamic that masks deeper economic strains.
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23andMe Clients Navigate Uncertain Future Two Years After Breach
23andMe brought unique privacy issues to bankruptcy. Unlike mass tort bankruptcies—such as Georgia-Pacific unit Bestwall, which faces asbestos claims, or Purdue Pharma opioid lawsuits—the harm mainly involves identity theft or nation-state misuse.
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Bankruptcy Judges Step Up Sanctions on Attorneys Misusing AI
A federal rule requiring lawyers to certify the accuracy of their filings is gaining new traction in bankruptcy courts, where judges are sanctioning attorneys for submitting documents with fake AI-generated citations.
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Acting DOJ Bankruptcy Head Will See Less Staff, More Oversight
As Ramona Elliott steps into her role as acting director of the Justice Department’s bankruptcy watchdog following her predecessor’s firing earlier this year, she inherits an agency with a smaller workforce and greater oversight demands.
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Trucking Bankruptcies Spike as Tariffs Quash Post-Pandemic Boom
Trucking and freight businesses that once thrived on the pandemic e-commerce boom and high spot prices are increasingly seeking bankruptcy protection, with more stress looming as the Trump administration’s tariffs derail business plans.
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Bankruptcy Crime Referrals Rarely Result in Prosecutions
The US Trustee—the Justice Department’s bankruptcy watchdog—made an average of 2,271 referrals annually over the past six years, according to agency reports. Yet only about 40 people were charged with bankruptcy crimes on average annually during that period.
Angélica Serrano Román 