Financial services coverage

chapter 11 and restructuring coverage across Financial services.

44 articles

Showing 37 to 44 of 44 coverage articles

Week of March 2, 2026

FlexShopper: Executive Fraud Collapses Fintech Pioneer in Five-Month Downfall

FlexShopper, a Boca Raton lease-to-own fintech (FPAY), filed chapter 11 in Delaware after its CEO/CFO forged loan documents causing $140M+ in overborrowing under the securitization program. ReadySett LLC (Snap Finance affiliate) is the stalking horse bidder at ~$15.5M in a 363 sale. Case 25-12254.

Financial services

Mar 6

Linqto: $500M Chapter 11 After Securities Law Violations

Linqto Texas filed chapter 11 in the Southern District of Texas on July 7, 2025, after new management uncovered securities-law violations. The plan was confirmed Feb. 6, 2026, offering 13,000+ investors a choice between a liquidating trust (Forge Global) and a closed-end fund (VanEck).

FreefallFinancial services

Week of January 26, 2026

Jan 27

Silvergate Capital: Crypto Bank Parent Liquidates After $8B Deposit Run

Silvergate Capital (Del., case 24-12158) filed chapter 11 Sept 2024 after an $8B deposit run triggered by the 2022 crypto collapse and FTX failure. The bank surrendered its charter July 2024; a confirmed plan established a liquidation trust for preferred stockholders and future FTX-related claims.

Financial services

Week of January 12, 2026

Jan 17

Terraform Labs: $4.47B SEC Settlement Shapes Liquidating Plan

Terraform Labs filed chapter 11 in Delaware on January 21, 2024, after the $40B TerraUSD collapse. A $4.47B SEC settlement anchors the liquidating plan; the Wind Down Trust is reconciling 16,640 crypto loss claims and pursuing a $4B lawsuit against Jump Trading.

FreefallFinancial services

Week of December 29, 2025

Jan 3

Vision2Systems: Liquidation Plan Confirmed Over U.S. Trustee Opposition

Dallas church fintech Vision2Systems filed chapter 11 in Feb. 2025 after a margin account practice caused donation shortfalls to 325 churches. The court confirmed a five-class liquidation plan in Jan. 2026 over U.S. Trustee opposition, with a $110,000 pool for unsecured creditors.

FreefallFinancial services

Jan 3

Tricolor Holdings Files Chapter 7 as Executives Charged with $800M Collateral Fraud

Tricolor Holdings, a Dallas-based subprime auto lender, abruptly shut down 60 dealerships in September 2025 and filed chapter 7 bankruptcy. Federal prosecutors later charged executives with an alleged $800M collateral fraud scheme, with JPMorgan and Fifth Third disclosing $340M+ in losses.

FreefallIndustrials & manufacturing

Jan 2

Solid Financial Technologies Liquidates After No Buyers Emerge for $330M BaaS Platform

Solid Financial Technologies, a VC-backed BaaS startup that peaked at a $330M valuation, filed chapter 11 in April 2025 and confirmed a Subchapter V liquidation plan in November 2025. No buyers emerged from the sale process. GUCs face 34.7%–100% recovery; preferred equity may recover up to 72%.

Subchapter VFinancial services

Dec 30

PrimaLend Capital Partners: BHPH Lender Pursues Liquidating Chapter 11 Amid Subprime Auto Crisis

PrimaLend filed chapter 11 with $286M debt amid subprime auto crisis. Credit bid sales to CIBC and ANB expected; BVY II dispute shapes recoveries.

Industrials & manufacturing