Business

Montenegro court rejects extradition order for crypto tycoon

A Montenegro appeals court on Friday reversed an order to extradite cryptocurrency entrepreneur Do Kwon to South Korea—where he is wanted over the multi-billion-dollar collapse of the Terraform Labs company.

Internet

US conspiracy website Gateway Pundit declares bankruptcy

US far-right conspiracy website Gateway Pundit is filing for bankruptcy, its founder said Wednesday, as it battles a string of lawsuits alleging it promoted misinformation related to the 2020 election.

Business

Dutch e-bike firm VanMoof declared bankrupt

Dutch electric bicycle maker VanMoof has been declared bankrupt, prompting the company to cease sales on Tuesday and angering customers who sought to file charges over the shop's failure to return broken bikes.

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Bankruptcy

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).

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