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Crypto firm Cred failed due diligence, set ex-UK fugitive in charge of capital raising

Crypto firm Cred failed due diligence, set ex-UK fugitive in charge of capital raising
The firm’s collapse into bankruptcy was largely due to a dereliction in corporate responsibility
By
Wednesday March 10, 2021 7:30 am
Cryptocurrency investment platform Cred unwittingly put a convicted financial criminal identified by the UK as a fugitive in charge of raising and deploying the firm’s capital before its collapse into bankruptcy, a court-appointed examiner said.
An examiner’s report filed on 8 March in the US Bankruptcy Court in Wilmington, Delaware, said that Cred failed to keep reliable records, properly track customer funds, perform due diligence on the firm’s investments or uncover the “extremely worrisome past” of former Chief Capital. ....

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Mallinckrodt Gains Support for Its Restructuring Support Agreement from Lenders Holding Approximately $1.3 Billion of Its First Lien Term Loans

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DUBLIN, March 10, 2021 /PRNewswire/ Mallinckrodt plc (OTCMKTS: MNKKQ) ( Mallinckrodt or the Company ) today announced that it has reached agreement with an ad hoc group of first lien term lenders holding approximately $1.3 billion of its outstanding First Lien Term Loans (the First Lien Term Loan Lenders ) to support the Company s previously announced restructuring support agreement ( RSA ). The agreement, which is based on providing new term loans financing to replace the First Lien Term Loans, resolves the open dispute between the Company and the First Lien Term Loan Lenders as to how such Lenders are to be treated under the restructuring plan and serves to extend near-term debt maturities. ....

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Sundance Energy Takes Action to Strengthen Balance Sheet and Position Business for Sustained ...

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Sundance Energy Takes Action to Strengthen Balance Sheet and Position Business for Sustained .
Sundance Energy Inc.March 10, 2021 GMT
Company initiates voluntary, prepackaged Chapter 11 process that will eliminate over $250 million of funded debt obligations
Chapter 11 process expected to conclude in approximately 60 days
All operations to continue as usual; employees, vendors, royalty owners, and other trade creditors to continue being paid in full in the ordinary course of business
Enters Chapter 11 process with at least $45 million of committed DIP financing
DENVER, March 09, 2021 (GLOBE NEWSWIRE) Sundance Energy Inc. (NASDAQ: SNDE) and its affiliates (“Sundance” or the “Company”), an onshore independent oil and natural gas company focused on the development of large, repeatable resource plays in North America, today announced that it has filed fo ....

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Equality On TrialCurrent Cases - Equality On Trial

Equality On TrialCurrent Cases - Equality On Trial
equalityontrial.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equalityontrial.com Daily Mail and Mail on Sunday newspapers.

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Operators of Atlantic County club cite debts of more than $3.7M

Operators of Atlantic County club cite debts of more than $3.7M
burlingtoncountytimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from burlingtoncountytimes.com Daily Mail and Mail on Sunday newspapers.

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