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.

Business

Vice Media files for bankruptcy protection

Vice Media, once the darling of the digital news media world, said Monday it had filed for Chapter 11 bankruptcy protection to facilitate its sale.

Business

Ex-FTX CEO says he didn't 'knowingly' misuse clients' funds

The former CEO of the failed cryptocurrency exchange FTX said Wednesday that he did not "knowingly" misuse customers' funds, and said he believes his millions of angry customers will eventually be made whole.

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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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