On May 8, 2023, online cryptocurrency exchange platform Bittrex, Inc. and three of its affiliated entities (collectively “Bittrex”) filed for chapter 11 to wind down their U.S. and long-dormant Malta operations. The bankruptcy filing followed costly regulatory investigations and an April 17, 2023 SEC enforcement action alleging that Bittrex improperly sold crypto assets that were … Continue Reading
In a recent decision in In re Packaging Systems, LLC, the Bankruptcy Court for the District of New Jersey ruled that a lender that held a “super-priority” administrative expense claim under section 364(c)(1) of the Bankruptcy Code was still entitled to its super-priority status even after the debtor’s case converted to chapter 7. The decision may … Continue Reading
