Creditor

FTX Wins Major Creditor Support for Reorganization Plan; Former Exec Challenges US Government in High-Stakes Legal Battle

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NEW YORK — FTX, the cryptocurrency exchange that faced bankruptcy, has recently announced strong preliminary support for its reorganization plan from creditors, setting a foundation for potential recovery. The plan has reportedly received backing from over 95% of creditors, accounting for 99% of claims by value, a robust endorsement from those owed money by the beleaguered company. John J. Ray III, the Chief Executive Officer of FTX, heralded this overwhelming support as a crucial step forward. He elaborated that the plan not only aims at reimbursing 100% of bankruptcy claim amounts plus interest for non-governmental … Read more

Federal Judge Dismisses Giuliani’s Bankruptcy Case, Greenlights Creditor Actions to Recover Multi-Million Dollar Debts

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NEW YORK – A federal judge in New in York dismissed Rudy Giuliani’s bankruptcy filing on Friday, a move that exposes the former New York City mayor to potential asset seizures by creditors who have won significant legal claims against him. The decision allows proceedings against Giuliani to advance, including attempts by two Georgia election workers, Ruby Freeman and Shaye Moss, who previously won a $148 million defamation lawsuit against Giuliani for falsely accusing them of electoral fraud during the 2020 presidential election. Judge Sean Lane of the U.S. Bankruptcy Court in the Southern District … Read more

Empowering Financial Justice: Creditor Law Group Champions Consumers Against Unscrupulous Creditors

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Philadelphia, PA – American households are burdened with an alarming amount of debt, according to recent data from Experian. The average household debt in the United States reached $103,358 in the second quarter of 2023, and by the third quarter, total household debt had risen by $228 billion to a staggering $17.29 trillion, as reported by the Federal Reserve Bank of New York. These numbers underscore the financial challenges faced by many American families, who often find themselves in distress. Unfortunately, some debt collectors exacerbate the situation by engaging in unscrupulous practices. However, there is … Read more

Creditor Law Group Advocates for Fair Treatment in Debt Collection Practices, Rooting Out Unethical Collectors

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Philadelphia, PA – Living with debt can be incredibly stressful, and unfortunately, many consumers also have to deal with aggressive and unethical debt collectors. These collectors often violate the Fair Debt Collection Practices Act (FDCPA), a law enacted by the U.S. government in 1978 to protect borrowers from abusive and unfair practices. Violations of the FDCPA are widespread and can have profound consequences for debtors. In response to these violations, Creditor Law Group, a nationwide law firm dedicated to defending consumers, is at the forefront of fighting against unethical debt collection practices. One of the … Read more