Sorenson Communications Holdings Inc ., which provides videophones and video interpreting services to deaf and hard-of-hearing people, filed for bankruptcy protection Monday, with a prearranged Chapter 11 plan to address its debts. Read the story here in Daily Bankruptcy Report here.
Ares Management LLC, which owns the majority of Guitar Center’s debt, is in advanced discussions with the musical instrument retailer’s owner Bain Capital to take over the company, The Wall Street Journal reports.
The recent loss of nearly a half-billion dollars from a major bitcoin exchange is forcing U.S. regulators to confront burgeoning questions about their authority—and responsibility—to oversee the fledgling virtual currency, the Journal reports.
Arizona-based UNS Energy Corp., parent of Tucson Electric Power Co., was the target of a failed hoax in which someone filed fraudulent bankruptcy papers on the company’s behalf, the Arizona Daily Star reports.