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☆ Diamond Sports looks to drop 11 MLB teams from Bally Sports regional networks
▼ + stars: | 2024-10-02 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Diamond Sports — the owner of Bally Sports-branded regional sports networks — said Wednesday that it plans to drop all MLB teams from its channels except for the Atlanta Braves. A Diamond attorney made the comments before a U.S. bankruptcy judge on Wednesday as part of an update on the company's ongoing bankruptcy process and attempt at finalizing a reorganization plan. Some of those teams were already slated to see their contracts end this season, and some contracts are not being determined by the bankruptcy process, a Diamond spokesperson said. "To be clear, rejecting these teams is not our preferred path," Diamond attorney Andrew Goldman said on Wednesday. Goldman said Diamond had warned the league about this outcome in August, noting it was a possibility if the MLB rejected Diamond's latest proposal.

Persons: —, Diamond, Andrew Goldman, MLB's, James Bromley, Goldman, Diamond's Organizations: Bally, Atlanta Braves, Minnesota Twins, Major League Baseball, Sports, Bally Sports, MLB, U.S, Cincinnati Reds, Cleveland Guardians, Detroit Tigers, Kansas City Royals, Los Angeles Angels, Miami Marlins, Milwaukee Brewers, Louis Cardinals, Tampa Bay Rays, Texas Rangers, Diamond, Wednesday Locations: Atlanta , Georgia

☆ A millennial bought a $2,950 vintage truck and built a whimsical wood cabin on top of it. She's lived there for 5 years — and loves it.
▼ + stars: | 2024-02-19 | by ( Maria Noyen | ) www.businessinsider.com time to read: +1 min

However, Kai said the goal is still to move the truck permanently onto land she owns. The house truck is road-legal, Kai said. Trish BromleyOne of Kai's most common questions is whether the house truck is "road-legal." While it is possible to drive the house truck, Kai said they don't do it often because of the cost of fuel and how attention-grabbing it is. But the ultimate goal is to eventually buy a plot of land where she and Ben can park the house truck full-time.

Persons: Kai, Trish Bromley, she's, Ben Organizations: Dodge

But in Australia, relative newcomers to the game’s big leagues, the arrival of the world’s best women’s players has left old and new fans starry-eyed with possibility. Despite placing fourth – the team’s best finish at a World Cup – the ability of relative outsiders to make it that far has elevated Australia’s Matildas to hero status. Fans cheer Spain's victory while watching a live transmission of the FIFA Women's World Cup 2023 in Madrid. Australia fans celebrate at Melbourne's Federation Square after the Matildas scored the opening goal in their FIFA World Cup round-of-16 match against Denmark on August 7. It’s not just football, it’s different.”Spain's players celebrate with the trophy after winning the 2023 Women's World Cup.

Persons: Sydney CNN —, “, Luis Rubiales, Jennifer Hermoso, Gianni Infantino, ”, Matildas, Spain's, Denis Doyle, –, Australia’s, might’ve, Sam Kerr, Asanka Ratnayake, that’s, Matilda Karen Menzies –, there’s, Kerr, Australia's Sam Kerr, England's Keira Walsh, Ulrik Pedersen, they’ve, Andrea Ellis, ” Ellis, you’re, Sarai Bareman, Saeed Khan, Infantino, Joanna Lohman, Rubiales, Jorge Vilda, RFEF, Sisters, Simmi Nanduo, ” Louise Nussac, Vilda, Kelly Stroda, La, Hilary Whiteman, d’Or Féminin, Alexia Putellas Organizations: Sydney CNN, Sydney’s, FIFA, La Roja, Royal Spanish Football Federation, derisory, England, Sweden, Melbourne's, Denmark, Australia’s, UEFA European, Sunday’s, Women’s Football, FIFA Women’s Football Convention, Getty, United States Women’s National, “, Sky News, CNN, ”, World Locations: Australia, Europe, Madrid, England, Bromley ,, London, AFP, Texas, Spanish, Paris, France, Spain, La Roja

☆ My Impossible Mission to Find Tom Cruise
▼ + stars: | 2023-07-17 | by ( Caity Weaver | ) www.nytimes.com time to read: +3 min

These were Keston Park’s problems — not mine and probably not Tom Cruise’s. Tom Cruise, as he and I both now knew, was most likely secretly living at another estate I had turned up in my research — one that was even closer to the airport. Tom Cruise would be crazy not to live here, I thought as I stroked the soft, sun-warmed mane of a little white donkey. Except, upon my arrival at the end of an idyllic woodland stroll, I discovered that Cruise did not live there either. I righted the gnome and ambled on, in search of another public footpath that would, I hoped, lead me to where Cruise actually lived.

Persons: Cruise, Tom Cruise’s, Tom Cruise Organizations: Mushroom Locations: Biggin Hill, Keston, Bromley, —, Biggin

NEW YORK, June 29 (Reuters) - A U.S. bankruptcy judge said Thursday that he would allow SVB Financial Group to sell its investment banking division, once the company has ensured that it is not releasing any liabilities related to the collapse of its Silicon Valley Bank unit. James Bromley, an attorney for SVB Financial, told Glenn that it would remove the liability releases from the deal by Friday. SVB Financial owned Silicon Valley Bank before it was seized by the U.S. Federal Deposit Insurance Corporation (FDIC) in March, and it is attempting to sell its remaining assets in bankruptcy. Glenn also criticized the FDIC during the court hearing, saying he would not allow the agency to block SVB Financial from getting information about its seizure of about $2 billion from SVB Financial' s bank accounts. Silicon Valley Bank's failure in March triggered the worst U.S. banking crisis in 15 years.

Persons: Martin Glenn, Jeff Leerink, Glenn, James Bromley, SVB, you'd, I'm, Erik Bond, Dietrich Knauth, Alexia Garamfalvi, Diane Craft Organizations: YORK, SVB, Bank, Bankruptcy, SVB Securities, Baupost, Silicon Valley Bank, U.S . Federal Deposit Insurance Corporation, FDIC, Citizens, Thomson Locations: Manhattan, Silicon, U.S, backstop

Dorsey questioned the value of a Bahamian court ruling during a Thursday court hearing in Wilmington, Delaware, saying that he would retain authority over the $7 billion in assets recovered by the U.S. debtors no matter what the Bahamian court rules. "It doesn't go to FTX Digital until I say it goes to FTX Digital," Dorsey said. The sides offered very different descriptions of how important FTX Digital was to the crypto exchange's operations. A court ruling in their favor could place the Bahamian company, and not the U.S. debtors, in charge of collecting assets and deciding how to distribute them to FTX customers. The case is FTX Trading, U.S. Bankruptcy Court for the District of Delaware, No.

Persons: John Dorsey, Dorsey, Chris Shore, Sam Bankman, Bankman, Fried's, Andy Dietderich, Brian Glueckstein, James Bromley of Sullivan, Cromwell, Chris Shore of, FTX, Dietrich Knauth Organizations: U.S, FTX's U.S, FTX Digital, FTX, Bahamian, Bankruptcy, District of, Chris Shore of White, Thomson, & & $ Locations: Delaware, Bahamas, Wilmington , Delaware, U.S, Hong Kong, District of Delaware

☆ How music lawyers are crafting a new playbook to protect artists from AI imitators
▼ + stars: | 2023-05-30 | by ( Dan Whateley | ) www.businessinsider.com time to read: +7 min

Copyright and right of publicity laws are top of mind for entertainment attorneys as AI songs surge. Here are four key takeaways from a recent panel on AI music hosted by the law firm Manatt. But the precise manner that AI-generated music, trained on a human artist's body of work, could violate copyright laws is still being defined. Streaming platforms like Spotify and YouTube will play a big role in AI's futureThe sheer volume of AI songs spit out onto streaming platforms could create detection challenges for rights holders. Music platforms like Spotify and YouTube could set limits on how much AI music spreads, the attorneys said.

☆ SVB's former parent may need new funding after $2bln cash seizure
▼ + stars: | 2023-04-26 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

The FDIC has also not fully explained why the cash was seized, Bromley said. FDIC's attorney, Derek Baker, told Glenn that SVB Financial's bank accounts were properly seized as part of FDIC's takeover of the failed bank. The cash is being held as a set-off against the regulator's costs in stepping in to protect SVB customer deposits, and FDIC is working to provide more detail about its claims against SVB Financial, Baker said. Glenn said he needed more information about the FDIC's authority to seize cash and how disputes related to the seizure should be resolved. SVB Financial is also still waiting for the full return of financial records that were seized as part of the bank takeover.

☆ SVB's former parent may need new funding after $2 billion cash seizure
▼ + stars: | 2023-04-26 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Silicon Valley Bank's former owner may need to take out a bankruptcy loan amid uncertainty about the U.S. Federal Deposit Insurance Company's seizure of $2 billion in cash from the company, its attorney said Wednesday. The FDIC has also not fully explained why the cash was seized, Bromley said. FDIC's attorney, Derek Baker, told Glenn that SVB Financial's bank accounts were properly seized as part of FDIC's takeover of the failed bank. Glenn said he needed more information about the FDIC's authority to seize cash and how disputes related to the seizure should be resolved. SVB Financial is also still waiting for the full return of financial records that were seized as part of the bank takeover.

☆ SVB Financial accuses FDIC of 'improper actions' to block the firm from accessing $2 billion of its cash
▼ + stars: | 2023-03-22 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

SVB Financial filed for bankruptcy on Friday. Lawyers for SVB Financial said in the group's first bankruptcy hearing in Manhattan on Tuesday that the FDIC took "improper actions" to block it from accessing its cash, according to a Reuters report. "Not only has the bank been taken, all the cash has been taken," the financial group's lawyer James Bromley said at the hearing. The lawyers also said that the FDIC has stopped communicating with the financial group and has instructed the successor of SVB to claw back transfers that SVB Financial had made to other accounts, the WSJ first reported. SVB Financial lost access to its deposits one day before it filed for bankruptcy protection, the lawyers added.

California banking regulators on March 10 closed Silicon Valley Bank in the largest U.S. bank failure since the 2008 financial crisis. Kurt Gwynne, an attorney for the FDIC as receiver for Silicon Valley Bank, disputed at Tuesday's hearing that regulators had done anything improper. Destroyed SVB (Silicon Valley Bank) logo is seen in this illustration taken March 13, 2023. Glenn said he was prepared to allow SVB Financial to use up to $100 million for investment activity. Silicon Valley Bank was SVB Financial's largest asset, accounting for more than $15.5 billion of SVB Financial's $19.7 billion in total assets.

The law firms that billed FTX are Sullivan & Cromwell, Landis Rath & Cobb, and Quinn Emanuel Urquhart & Sullivan. Landis Rath & Cobb and Sullivan & Cromwell, FTX's primary legal firms, billed the company a combined $10.7 million for over 8,400 hours of work. Landis Rath & Cobb billed $1.16 million for work done between Nov. 11 and Nov. 30. Full compensation for legal and advisor fees will not occur until a final fee application is filed, whenever FTX's bankruptcy saga concludes. Lawyers for Sullivan & Cromwell did $40,000 worth of work just to appear in FTX's first bankruptcy hearing on Nov. 22, based on court filings of hours billed and hourly rates.

☆ Sam Bankman-Fried is weaponizing Twitter in FTX bankruptcy battle, says crypto exchange's law firm
▼ + stars: | 2023-01-20 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Lawyers for FTX say Sam Bankman-Fried is weaponizing Twitter as he pushes back against bankruptcy proceedings. A judge in the FTX bankruptcy case also rejected claims that the Sullivan & Cromwell law firm has a conflict of interest. In recent tweets and Substack posts, Bankman-Fried has accused the Sullivan & Cromwell law firm of pressuring him to file for bankruptcy as FTX was collapsing in November. "One of the things that the debtors have been facing generally in these cases is assault by Twitter," Bromley said. Earlier in the week, the law firm disclosed that it performed $10 million worth of legal work on behalf of FTX before the exchange filed for bankruptcy.

The Justice Department said Wednesday that has moved to seize millions of shares of Robinhood, the popular stock-trading app, whose ownership is disputed by several parties, including Bankman-Fried himself, his bankrupt crypto exchange FTX and another bankrupt crypto company. Four separate entities have laid claim to the approximately 56 million shares, worth about $460 million. That company, Emergent Fidelity Technologies, borrowed more than $546 million from crypto hedge fund Alameda Research, according to an affidavit Bankman-Fried filed in December. Also claiming the Robinhood shares are bankrupt crypto lender BlockFi and an individual FTX creditor. As of December 31, roughly $150 million of Silvergate’s deposits were from customers that have filed for bankruptcy.

[1/3] The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew KellyJan 4 (Reuters) - U.S. prosecutors are in the process of seizing shares of Robinhood Markets Inc (HOOD.O) tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange, a U.S. attorney told a judge on Wednesday. He said the Robinhood shares were subject to litigation and it was an "open question" about who owns them. The Robinhood stock, worth about $465 million at Wednesday's late afternoon price of $8.30 per share, is also being claimed by BlockFi Inc, another bankrupt crypto firm. BlockFi is suing Emergent in a bid to seize the Robinhood stock, which was pledged by Alameda as collateral to guarantee repayment of a loan made by BlockFi.

[1/3] The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. The Department of Justice did not believe the 56 million shares of Robinhood, worth about $465 million, were property of a bankruptcy estate, U.S. attorney Seth Shapiro told U.S. Bankruptcy Judge John Dorsey, who is overseeing the FTX bankruptcy. Bankrupt crypto firm BlockFi, FTX and liquidators in Antigua have all laid claim to the Robinhood stock, along with Bankman-Fried. He said the Robinhood shares were subject to litigation and it was an "open question" about who owns them. BlockFi is suing Emergent in a bid to seize the Robinhood stock, which was pledged by Alameda as collateral to guarantee repayment of a loan made by BlockFi.

☆ The home that inspired Kate Winslet's English cottage from 'The Holiday' is now available on Airbnb
▼ + stars: | 2022-12-22 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

The rural English cottage that inspired Kate Winslet's house in 'The Holiday' is now on Airbnb. The couple who owns the home put in on Airbnb after learning that it was a cinematic landmark. The house that inspired the English cottage in 'The Holiday' is now on Airbnb. They moved in with no knowledge that it inspired the Hollywood film, according to The Independent. The house has been reserved for Christmas, New Year's weekend, and the majority of February 2023, according to Airbnb, though there are bookings available throughout the upcoming year.

FTX attorney James Bromley told Dorsey that the Bahamian government has previously obtained information from FTX Digital Market's liquidators and used it to siphon digital assets away from FTX. The Securities Commission of the Bahamas (SCB) has previously disputed FTX's "misstatements" about the Bahamian government's response to FTX's collapse. Chris Shore, an attorney for the Bahamas-based liquidators, told Dorsey that the liquidators were not working at the direction of the Bahamian government. Dorsey began the hearing by asking whether FTX and the Bahamas liquidators could reach a compromise on data sharing before Bromley shot that suggestion down. "Unlike the Chapter 11 process, there is no transparency in the process in the Bahamas," Ray said.

The answer is simple, according to more than a dozen Washington insiders, FTX employees, and crypto industry observers who spoke with Insider. I don't think anyone believed that he was going to fund candidates who were, quote unquote, committed to ending pandemics who were also hostile to the crypto industry." Alex Wong/Getty ImagesRebuffed by the SEC, Bankman-Fried turned his attention to Congress. "It's not that he was welcoming regulation," says the senior figure in the crypto industry who attended meetings with Bankman-Fried. But while Bankman-Fried was busy wooing Washington, FTX was about to become Exhibit A in the case for more effective oversight of the crypto industry.

☆ Former FTX CEO Sam Bankman-Fried says he didn't 'try to commit fraud'
▼ + stars: | 2022-11-30 | by ( Elizabeth Napolitano | ) www.nbcnews.com time to read: +5 min

A growing number of regulators are investigating Bankman-Fried and his former company, and the fallout from the collapse of FTX is only expanding. The broader industry consequences also continue to play out, with the crypto firm BlockFi filing for bankruptcy last week. Days after the CoinDesk report, FTX rival Binance announced it would sell its FTX holdings, setting off a bank-run-style rush of withdrawals. What matters here are the stakeholders in FTX," Bankman-Fried said. Bankman-Fried and his associates greenlighted lavish expenditures, including $300 million for real estate purchases in the Bahamas for FTX and Alameda employees, according to filings from current FTX attorneys.

☆ FTX Hires Ex-Regulators to Investigate Firm’s Collapse
▼ + stars: | 2022-11-23 | by ( Mengqi Sun | ) www.wsj.com time to read: +5 min

Cryptocurrency exchange FTX, whose recent collapse has led to questions about lacking regulatory oversight, has hired a fitting team to help untangle the mess: former senior U.S. regulators. FTX said this week it has been in contact with investigators, The Wall Street Journal previously reported. FTX, which is based in the Bahamas, also has hired Nardello & Co., an investigations firm that specializes in anti-corruption and fraud cases, Mr. Bromley said in court Tuesday. The name of the cybersecurity company wasn’t disclosed because of concerns over continuing cyberattacks on FTX, he said. The collapse of FTX has set off the largest crypto-related bankruptcy ever, and court filings are already shedding light on what went wrong and how complicated things could get.

☆ FTX's bankruptcy hearing is underway and the details are wild. Here's what to know.
▼ + stars: | 2022-11-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

FTX kicked off its bankruptcy hearing on Tuesday, and the initial statements give Sam Bankman-Fried and company little to cheer. James Bromley, counsel to FTX's new management, had choice words during the first day in the Delaware hearing. Ray and his new management team's estimate of FTX's cash holdings has nearly doubled, a Saturday filing showed. In the letter, seen by the Financial Times, Bankman-Fried said excessive borrowing by Alameda Research was responsible for FTX's collapse. Elon Musk's EV maker has seen its market cap plunge from a high of $1.2 trillion.

☆ CME Group CEO calls Bankman-Fried 'an absolute fraud,' says he saw trouble months before FTX collapse
▼ + stars: | 2022-11-23 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

A major exchange executive says he detected red flags months before the historic FTX collapse. CME Group chairman and CEO Terry Duffy said he suspected corruption at the cryptocurrency exchange the day of his first one-on-one meeting with founder Sam Bankman-Fried. "I told my team this had nothing to do with crypto," Duffy told CNBC's "Fast Money" on Tuesday. You're an absolute fraud," Duffy said he told Bankman-Fried. Duffy wanted to know whey the Commodities Futures Trading Commission was looking at Bankman-Fried's request to ease regulatory rules to push his trading model.

☆ FTX lawyer says a substantial amount of crypto assets are missing or stolen
▼ + stars: | 2022-11-23 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

A substantial amount of assets tied to FTX are either missing or stolen, a company lawyer said. In a bankruptcy hearing, the lawyer said FTX initiated cyberattack controls in response. "What we have here is a worldwide, international organization, but which was run as a personal fiefdom of Sam Bankman-Fried," Bromley added. Bromley said FTX was in "constant communication" with the US Department of Justice and the cybercrimes unit of the US attorney's office in Manhattan over the missing assets, per The Journal. Meanwhile, Bankman Fried apologised to employees over his failed crypto exchange and the damage it has caused in a Tuesday letter, saying he "didn't mean for anything of this to happen."

☆ FTX Lawyer Says ‘Substantial Amount’ of Crypto Firm’s Assets Stolen or Missing
▼ + stars: | 2022-11-22 | by ( Alexander Saeedy | Jonathan Randles | ) www.wsj.com time to read: 1 min

A “substantial amount” of failed crypto exchange FTX’s assets is missing and may have been stolen as a run on customer deposits and a liquidity crunch precipitated a crisis of leadership and led the firm to collapse, its lawyer said in court on Tuesday. “FTX was in the control of inexperienced and unsophisticated individuals, and some or all of them were compromised individuals,” said James Bromley, counsel to FTX’s new management, at its debut appearance at the Delaware bankruptcy court after the failed exchange filed for the largest-ever crypto bankruptcy case earlier this month.

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