bankruptcy

Back in Court with Bcause – Year End Report

Back in Court with Bcause – Year End Report

Wednesday was the last hearing scheduled for this year for the Bcause bankruptcy. The next court date is January 7 when the bankruptcy trustee’s disposition of Bcause’s remaining “asset,” the spot market, will be presented to the court. 

Bcause bets it all on bitcoin

Bcause bets it all on bitcoin

On Thursday, August 8, Judge Janet Baer continued the current round of proceedings in Bcause’s ongoing federal bankruptcy case until September 4.  Bcause demonstrated to the court there is hope a confirmable reorganization plan can be...

Bcause: “Not There Yet”

Bcause: “Not There Yet”

The hearing on WESCO’s motion to lift Bcause’s bankruptcy protection and/or to remove the bankruptcy court’s stay on a lower court’s order to pay WESCO continued on Monday, June 24.  WESCO, an electrical equipment supplier, has asked the court...

Bcause’s Next Steps in Bankruptcy

Bcause LLC, the failed cryptocurrency trading platform and mining services provider, was back in court on Friday, June 21, on a motion by WESCO, a secured creditor, to be paid now, before the remaining cash in the enterprise is dissipated....

Mining Troubles Take Down Ecosystem

Mining Troubles Take Down Ecosystem

Judge Janet Baer presided over a motion hearing on June 5 in the bankruptcy proceedings of Bcause, ”the world’s first full-stack cryptocurrency ecosystem.”  Bcause’s full stacks include mining, spot trading and futures trading, as well as a...

Bcause it is such a good deal!

Bcause it is such a good deal!

Bcause, the cryptocurrency mining infrastructure provider that asked for bankruptcy court protection in April, filed its proposed reorganization plan with the federal court on Wednesday afternoon. Providing mining infrastructure services was...

The End Of The Line

So it appears this is the end of the line for Jon Corzine, the disgraced former head of MF Global, the man who essentially brought down the firm with lousy trades on European debt markets, helped cripple the futures industry and tarnished its once iron clad guarantee...

NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform

One of the issues that emerged from the MF Global collapse was the complex and often frustrating US bankruptcy process. In the case of MF Global, futures customers’ claims were lumped in with other creditors. As such, it took more than a year for customers with...

Third-Party Custodians: Here, Hold On To This

Futures customers are still wondering just how their money can stay protected in the case of a default by their broker. While some solutions are still in the concept stage, others are available right now. Horizon Cash Management's Michael Markowitz explains the...

Extraordinary Times Call for Extraordinary Measures

Today the CME Group is expected to file with the SIPC appointed bankruptcy officials and federal authorities a plan for how to proceed with their part of the orderly liquidation of MF Global, specifically the movement of open futures and futures options positions to...

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Trading Ring That Survived Two World Wars May Succumb to a Virus

Trading Ring That Survived Two World Wars May Succumb to a Virus

First Read $8,041/$300,000 (2.7%) Buck Haworth, Mo Guilfoile, JB Mackenzie, Nancy Stern, Hollis Griffin, Thomas Jordan and Jan Waye. Hits & Takes JLN Staff Exchanges: Euronext was down due to technical issues, but has resumed. Coronavirus: India peaking, Sweden...

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Hedge Funds Cut Bullish Euro Bets at Fastest Pace Since February

Hedge Funds Cut Bullish Euro Bets at Fastest Pace Since February

Observations & Insight $8,041/$300,000 (2.7%) Buck Haworth, Mo Guilfoile, JB Mackenzie, Nancy Stern, Hollis Griffin, Thomas Jordan and Jan Waye. ++++ The Spread: Remembering Joe Sullivan JohnLothianNews.com This week on The Spread, a binary options fraudster is...

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