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13 Jul, 2015

Files for bankruptcy

50 Cent files for Chapter 11 bankruptcy (docs) in Hartford, Connecticut reporting assets and liabilities between $10-$50 million. Lawyers:

This filing for personal bankruptcy protection permits [him] to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs.

30 Jun, 2015

Requests bankruptcy

Governor Padilla demands that the U.S. government allow Puerto Rico to access to Chapter 9 bankruptcy. Puerto Rico currently owes $73 billion that it is unable to pay and has one of the lowest possible credit ratings.

We cannot allow them to force us to choose between paying for our police, our teachers, our nurses, and paying our debt…We have to act now…Now is the moment for us to call on Washington for concrete action…It will be difficult, the size of this debt prevents us from getting out of the cycle of recession and contraction

5 Feb, 2015

Files bankruptcy

RadioShack files for Chapter 11 bankruptcy protection after Sprint and shareholder Standard General LP agree to buy 1,500 to 2,400 of its stores. RadioShack plans to operate normally through the bankruptcy process. Joe Magnacca, RadioShack’s chief executive:

These steps are the culmination of a thorough process intended to drive maximum value for our stakeholders.

10 Mar, 2014

Files for U.S. bankruptcy to halt class action

The Company files for U.S. bankruptcy protection in Dallas late Sunday saying without protection it will spend substantial funds defending itself against Gregory Greene’s class action. Greene is scheduled to ask a federal judge on March 11 to freeze Mt. Gox’s U.S.-based servers and other computer equipment and to set up a trust over Mt. Gox’s U.S. assets. The Chapter 15 filing allows Mt. Gox to ask the U.S. Bankruptcy Court to recognize its foreign bankruptcy and to assist in the Japanese proceedings by protecting its U.S.-based assets. U.S. creditors can contest Mt. Gox’s request for Chapter 15 protection.

28 Feb, 2014

Files for bankruptcy, “discrepancies” of ¥2.7bn ($27m)

Mt. Gox officially files for bankruptcy protection with outstanding debts of ¥6.5bn ($63.6m), against assets of ¥3.8bn ($37.4m).  A notice posted on their website admits that “although the complete extent is not yet known”, 750,000 of its customers’ bitcoins and 100,000 of the company’s own have “disappeared” due to “illegal access through the abuse of a bug in the bitcoin system”. At this time they “cannot confirm the exact amount of missing deposit funds and the total amount of bitcoins which disappeared.”

In order to increase repayments to our creditors, it is necessary to explore the possibility of having MtGox Co., Ltd. continue its business. This is why the civil rehabilitation procedure has been chosen, rebuilding MtGox Co., Ltd under the supervision of the court in a legally organized procedure while giving proper explanations will not be for the sole benefit of the company but for that of the whole bitcoin community.