The trust created by FTX's Chapter 11 plan has reported it further winnowed down the onetime cryptocurrency giant's debts by about $600 million during the second quarter, leaving it with less than $12 billion of liabilities to go against $6.5 billion in assets.
A New York bankruptcy judge had to weigh the acumen of a sports media impresario against the benefits of an independent administrator for the business he placed into Chapter 11, before concluding it was best for her to dismiss the case.
Private-label bath product maker Vi-Jon LLC, advised by attorneys from Morris James LLP and Sidley Austin LLP, commenced a Chapter 11 case in Delaware bankruptcy court in early August, after it reached terms on a global settlement with its parent company to fund a trust for the benefit of asbestos personal injury claimants.