Pet store

J&J Talc bankruptcy case: events leading to potential layoff battle

Background Johnson & Johnson’s newly formed subsidiary, LTL Management LLC (“LTL“), filed for bankruptcy in the Western District of North Carolina on Oct. 14, 2021, with the primary purpose of resolving thousands of tort claims (and nearly 40,000 pending lawsuits) related to company talcum powder – LTL’s sole liability. LTL was formed two days before […]

Pet store

judge orders new bankruptcy auction for Limetree Bay refinery | New

A Texas Bankruptcy court judge ordered a new auction for the Limetree Bay refinery in an extraordinary decision in an emergency hearing Monday night. Judge David Jones said he had always believed in the sanctity of the auction process “and I’ve never changed that before”. But in the circumstances presented in this case, “I have […]

Pet store

Indiana joins others in opposing USA Gymnastics settlement plan

USA Gymnastics filed for Chapter 11 bankruptcy in the U.S. South Indiana Bankruptcy Court in 2018, in a bid to survive hundreds of lawsuits across the country. Lauren Chapman / IPB News Listen to the aired version of this story. The proposed settlement plan that would help USA Gymnastics come out of bankruptcy frees other […]

Pet store

Mallinckrodt bankruptcy judge dismisses insurers’ antitrust complaints

A plaque is displayed at the entrance to the US Bankruptcy Court for the Southern District of New York, REUTERS / Brendan McDermid Register now for FREE and unlimited access to reuters.com Register The names of companies and law firms shown above are generated automatically based on the text of the article. We are improving […]

Pet store

Watsonville Hospital Corporation initiates bankruptcy proceedings – Santa Cruz Sentinel

WATSONVILLE – Watsonville Community Hospital business owners – including debtor Halsen Healthcare – underwent day one hearing for their Chapter 11 bankruptcy court case according to case rating officer, Stretto. In a statement released by hospital management on Monday afternoon, it was confirmed that the hospital filed voluntary petitions under the Federal Bankruptcy code on […]

Pet store

Meridian Mall owners come out of bankruptcy

LANSING, Michigan – The company that owns the Meridian Mall in Okemos is now out of bankruptcy and is looking to reallocate parts of the property as shoppers’ habits change. “We’re looking to add restaurants, entertainment, other uses like hospitality, which means hotels and multi-family homes in certain markets, but it’s really too early to […]

Pet store

Sacklers: Billions Raised Through Purdue Pharma, Not Bankruptcy Abuse | Bankruptcy News

When it finally filed for bankruptcy in the face of lawsuits over the opioid epidemic, Purdue Pharma needed the Sacklers’ money to settle the billions of dollars in legal claims. In return, the Sacklers may have demanded protection from lawsuits. Members of the Sackler family said on Monday that the billions of dollars they raised […]

Pet store

Colorado bankruptcies drop 26% in November from a year ago

DENVER – Bankruptcy filings in Colorado continued to decline from last year’s figures in November, falling 26.47% from the same period in 2020, with bankruptcy filings also falling in November. Boulder, Broomfield and Larimer counties. Weld County saw an increase in bankruptcy filings during the month. That’s according to a BizWest analysis of US Bankruptcy […]

Pet store

Sampdoria president resigns after arrest in bankruptcy case

Published on: 06/12/2021 – 19:34Amended: 06/12/2021 – 19:32 Rome (AFP) – Sampdoria president Massimo Ferrero resigned after his arrest on Monday for alleged involvement in fraudulent bankruptcy cases, Italy’s Serie A club have announced. “We learned with great surprise of the arrest of Massimo Ferrero (…) “It is important to clarify that these questions have […]

Pet store

Musk warns SpaceX risks bankruptcy

This site can earn affiliate commissions from the links on this page. Terms of use. Three Raptor engines. (Image: SpaceX)Many SpaceX employees had to work over Thanksgiving weekend to hopefully fix Raptor engine issues that threaten to tip the company into bankruptcy. In a company-wide email acquired by The edge, Explored space, and CNBC, CEO […]

Pet store

the threat of SpaceX bankruptcy; 50 hour shift before the crash; FedEx Forest Mystery | Today in Manufacturing Ep. 44

Editor’s Note: Download and listen to the audio version below and click here to subscribe to the podcast. The Today in Manufacturing podcast is brought to you by the editors of Manufacturing.net and Industrial equipment news (IEN). In each episode, we discuss the five biggest stories in manufacturing and their implications for the future of […]

Pet store

Year Round Closes $ 506 Million Denizen Sale in Brooklyn Amid Bankruptcy – Commercial Observer

Year round management closed the sale of its huge development in Bushwick Living for $ 506 million, amid the collapse of its wider empire, according to documents filed on the Tel Aviv Stock Exchange. All Year’s flagship development is a 911-unit complex built in two phases at 54 Noll Street and 123 Melrose Street, formerly […]

Pet store

Protecting Administrative Claims of Creditors in Chapter 11 Bankruptcy Cases

The names of companies and law firms shown above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We appreciate comments, which you can provide using the comments tab on the right of the page. December 6, 2021 – Most […]

Pet store

NCLT Authorizes RBI’s Plea in Bankruptcy Proceedings Against Reliance Capital

The National Company Law Tribunal (NLCT) in Mumbai on Monday granted the request by the Reserve Bank of India (RBI) to initiate insolvency proceedings against Reliance Capital under Article 227 of the Insolvency Code and bankruptcy (IBC). The bankruptcy court also confirmed the appointment of Y Nageswar Rao as a director of the company. Earlier […]

Pet store

Changes in officers’ liability under bankruptcy law

This in Brief reviews the latest changes to the Bankruptcy Law (Federal Legislative Decree No. 9 of 2016, as amended) introduced under Federal Legislative Decree No. 35 of 2021 (the New law) and their impact on the personal liability of the board of directors and officers of bankrupt companies. The new law entered into force […]

Pet store

Finding Gold Among the Ashes: Navigating Bankruptcy Asset Sales with Experienced Advisors

When looking to acquire business assets at a great price, a bankruptcy sale can be an ideal option. Despite the interest of creditors in recovering as much as they can from the liquidation of bankruptcy assets, these assets are often available at prices well below their actual value. The rules governing these sales ensure an […]

Pet store

Leadville and Northglenn brewer files for bankruptcy after business collapses – The Denver Post

Just over a year after Periodic Brewing closed in Leadville and Northglenn, the brewery filed for Chapter 7 bankruptcy. The company said in its November 23 bankruptcy filing that it owed just over 50 creditors $ 1.4 million and had assets worth $ 58,324. The periodical opened in Leadville in 2015 and added a valve […]

Pet store

Today in History: Legislation Proposed to Stop Baldwin Schools Bankruptcy | New

The first public appearance this year of the Lycée Cadillac debate team will take place Tuesday evening in the auditorium of the Lycée, during the affirmative and negative skirmish. The subject of the report this year for high schools is: Resolved that the principle of the closed workshop in America should receive public support. Miss […]

Pet store

The Dead (And Their Estates) Cannot Hold Property Under Recent Ninth Circuit Bankruptcy Appeal Panel Decision | Greenberg Glusker LLP

I recently had the pleasure of working with my colleagues Benny Roshan and Jillian beurk on appeal to the Ninth Circuit Bankruptcy Appellate Panel (BAP), which tested the ever-changing intersection between bankruptcy law and inheritance law. A re Rens, __ BR __, # AP 19-90067-LA, 2021 WL 5049829 (BAP 9th Cir. October 29, 2021) is […]

Pet store

November 2021 New declarations of bankruptcy

NEW YORK, Dec. 03, 2021 (GLOBE NEWSWIRE) – Epiq, a global leader in technology services for the legal and business services industry, has released its November 2021 bankruptcy statistics for its information services business on AACER bankruptcies. Overall, November new filings were down with 29,325 across all chapters, down 5.6% from October 2021 which had […]

Pet store

Bankruptcy Discharge, Debt Buyers and Credit Reports: Recent Developments | Spilman Thomas & Battle, LLC

Recent reports by The New York Times and NPR drew attention to a question that many creditors are likely to face on a regular basis: when a debt is sold to a buyer before the debtor goes bankrupt, what should creditors report to the credit bureaus after the debtor is later discharged ? Bankruptcy […]

Pet store

Minnesota temporarily suspends debt foreclosures

Related practices and jurisdictions On May 4, 2020, Minnesota Governor Tim Walz signed the emergency Executive Order (EO) 20-50which temporarily suspends the service of wage garnishment summons in Minnesota for consumer debts arising “from the purchase of goods or services purchased primarily for personal, family, or household purposes, and not for business purposes, agricultural or […]

Pet store

Steel tycoon Jindal wants to buy bankrupt Indian shipyard Reliance Naval & Engineering

Mumbai: Jindal Steel & Power Ltd., India’s third-largest alloy producer by market value, and two other groups were the latest to show interest in bidding for Reliance Naval & Engineering Ltd., according to people familiar with the matter. For Jindal Steel, controlled by Naveen Jindal, Reliance Naval may be a captive customer for the company’s […]

Pet store

Where Atomic Kitten is now from bankruptcy to panto

The tide was high for Atomic Kitten in the late 90s and early 90s when they dominated the charts with their catchy tunes and behind-the-scenes drama. The three-girl group rocketed up the charts, with their matching blonde locks and harmonizing vocals, before breaking up in 2004. Along the way, a few singers left the band, […]

Pet store

Oil prices have turned negative. Hundreds of American oil companies could go bankrupt

This double black swan has caused oil prices to collapse to levels that are preventing US shale oil companies from making money. U.S. crude for May delivery turned negative on Monday — something that hasn’t happened since NYMEX oil futures began trading in 1983. It was easily the oil market’s worst day on record . […]

Pet store

Catherine Wood’s ARK Investors – GuruFocus.com

Catherine Bois (Professions, Wallet)‘s ARK Investment Management revealed a sharp reduction in Organovo Holdings Inc. (ONVO, financial) alongside a slight reduction in Syros Pharmaceuticals Inc. (SYRS, Financial position) according to GuruFocus Real time selectionsa premium feature. ARK Investment Management combines a top-down and bottom-up approach with the aim of quickly identifying innovations in the market […]

Pet store

Retail bankruptcies are just the tip of the iceberg, says Levi Strauss boss

A wave of retail bankruptcies is just the ‘tip of the iceberg’, chief executive Levi Strauss has warned, as the fashion company seeks to capitalize on the industry turmoil that is taking hold. result in years of change in a matter of months. Speaking days after two of Levi’s denim competitors, Lucky Brand and the […]

Pet store

Pasco’s Gordon Brothers, the oldest winery in the state, files for bankruptcy

The state’s oldest winery is cutting back after its biggest creditor forced it into bankruptcy. Gordon Brothers Cellars Inc. and its associated vineyard, Kamiak Vineyard Inc., filed for creditor protection under Chapter 11 of the U.S. Bankruptcy Code in November, shortly after the Bank of Eastern Washington made a “ confession of judgment” against the […]

Pet store

Coronavirus protections could delay a bankruptcy crisis

Data: IIF; Graphic: Axios Visuals The number of business bankruptcies and insolvencies in most countries has fallen this year thanks to the coronavirus pandemic, as the world is experiencing far fewer bankruptcies than in 2019. Yes, but: This is largely thanks to help from central banks and government measures limiting things like foreclosures. Why is […]

Pet store

7th Circuit reverses judgment, dismisses HOA debt litigation

7e The Circuit Court of Appeals launched a dispute over unpaid homeowners association fees, finding that a letter sent to a couple who owed their HOA thousands of dollars caused them no material harm. When Linda and Christopher Gunn fell behind in paying $2,000 owed to their homeowners association, the HOA hired the law firm […]

Pet store

As NRA fights for its life in bankruptcy protection, some see fewer gun protections

NEWTOWN — For six months, the NRA has been sending the same message to supporters and opponents alike: The nation’s premier gun rights group has never been stronger, despite the powers that be in New York City. sued for bankruptcy. But the surprise of the NRA Chapter 11 Bankruptcy filing in Texas earlier this month […]

Pet store

Maryland Athletics halt practices after 46 positive COVID-19 tests

Maryland Athletics has suspended all practices after 46 positive cases of COVID-19 across 10 teams, the school announced Thursday night. “The most recent test results revealed an increase in positive tests among Maryland student-athletes,” athletic director Damon Evans said in a statement. “Out of an abundance of caution, we are temporarily suspending all training for […]

Pet store

Jamal Lewis among bankrupt star athletes – Baltimore Sun

It may have been trash-talk, but Jamal Lewis delivered on his promise. The young Baltimore Raven broke the one-day rushing record by rushing for 295 yards in the 2003 home opener at the newly renamed stadium for the company that had purchased the naming rights, M&T; Bank. Today, however, Lewis and M&T, now retired; are […]

Pet store

Nike and other brands report millions in bad debts

The impact of COVID-19 on retailers is evident as companies report a slump in sales, but the pandemic has also dealt a blow to intermediaries, which include apparel and accessories makers, The Wall Street Journal reported. Giant Suppliers which include Columbia Sportswear Co., Nike and Samsonite International SA disclosed millions of dollars in bad debts […]

Pet store

Lord & Taylor’s parent companies, Men’s Wearhouse, both file for Chapter 11 bankruptcy

New York and Freemont, California — The list of apparel retailers to file for Chapter 11 bankruptcy grew over the weekend as parent companies Lord & Taylor and Men’s Wearhouse both filed for Chapter 11 bankruptcy protection in the purpose of restructuring their indebtedness. Le Tote Inc., a New York-based e-commerce company specializing in the […]

Pet store

Bar Louie files for bankruptcy and closes 38 locations

“Gastrobar” channel Louis Barwhich was founded in Chicago 30 years ago and is now based in Texas, closed 38 company-owned locations, including two in the Chicago area, over the weekend and filed for Chapter 11 bankruptcy, according to the Grandstand and several other reports. Louies bars in River North and suburban Naperville have reportedly been […]

Pet store

Commentary: The airline industry faces a financial crisis with more bankruptcies looming

Several airlines have already been placed under bankruptcy protection or administration since the start of the pandemic, including Aeromexico, Air Mauritius, Avianca, Comair of South Africa, LATAM Airlines, Thai Airways and Virgin Australia. For all, the inability to secure financial support from their governments was the main driver. All seven are expected to successfully emerge […]

Pet store

Bankruptcy records without payment; close North American stores

Payless ShoeSource has filed for Chapter 11 bankruptcy and is closing its remaining stores in North America. Monday’s filing came a day after the shoe chain began holding business closing sales at its North American stores. The company, based in Topeka, Kansas, updated the number of stores it is closing to 2,500, from 2,100 quoted […]

Pet store

Free fall into bankruptcy or is this time different?

Energy ratings take epic hits SHUTTER Energy valuations take epic hits. Given the drop in demand amid COVID-19 concerns, the initial fallout from the row between Saudi Arabia and Russia over the weekend was predictable. Within hours, prices had dropped like an anchor (to $33 a barrel this morning). Several companies have already announced cutbacks, […]

Pet store

Craig General Hospital in Vinita declares bankruptcy, the latest in a series of rural hospitals to do so | Local News

By SHANNON MUCHMORE World Staff Writer VINITA — Craig General Hospital became the latest rural Oklahoma hospital to declare bankruptcy with a Chapter 9 filing Feb. 25 in U.S. Bankruptcy Court for the Northern District of Oklahoma. The hospital has struggled with retirement program payments, a forced renovation and reduced reimbursement rates, according to court […]

Pet store

Does Cushman & Wakefield (NYSE: CWK) have a healthy balance sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett said “volatility is far from synonymous with risk.” So it seems smart money knows that debt – which is usually involved in bankruptcies – is a very important factor when you’re assessing a company’s risk. […]

Pet store

Norwegian Air makes final restructuring offer to creditors

Norwegian Air presented its final restructuring offer to creditors on Thursday in what the low-cost airline said was a major step in its debt reduction and fleet reduction plan to survive the coronavirus pandemic. If approved by a sufficient number of creditors and the High Court of Ireland, the so-called plan of arrangement will […]

Pet store

The ex-president of Japan Life bankrupt, 13 others arrested for fraud

The former chairman of the now bankrupt Japan Life Co. was arrested on Friday along with 13 others suspected of running a ‘rental landlord’ investment scam involving clothes, jewelry and other property which police said had beneficial health effects. Police suspect the company, which went bankrupt in March 2018 with debts of around 240 billion […]

Pet store

Memphis Babalu owner Eat Here Brands files for bankruptcy

Babalu’s arrival in Overton Square in 2014 was seen as key to the revival of Midtown’s entertainment district. Investors call Memphis’ economy strong, say problems trace back to other states. The owner of Babalu will seek a buyer after the restaurant chain, a stalwart of Overton Square in Memphis, filed for bankruptcy. Babalu Tapas & […]

Pet store

Neiman Marcus bankruptcy lifts retailer’s defaults to record

Text size Neiman Marcus expects to emerge from bankruptcy this fall. Photograph by Scott Olson/Getty Images The Neiman Marcus Group has filed for bankruptcy as part of a restructuring that will transfer the majority stake in the retailer to its creditors. Its filing pushed the retailer default rate to an all-time high, as the coronavirus […]

Pet store

Virtual Art Symposium Honors David C. Driskell

Not only are the collections at the David C. Driskell Center incredibly enriching, but they also exude a sense of community and acceptance. Since my first visit it has always felt like a welcoming place. This friendly energy transmitted as friends and colleagues of the late David Driskell gathered at the fourth annual John Wilmerding […]

Pet store

Mourning for Maradona again shows Latin America’s commitment to sport and the arts

BUENOS AIRES (Reuters) – The crowds who bid farewell to Diego Maradona in Buenos Aires on Thursday were in keeping with the devotion Latin America has reserved for the passing of its sporting and artistic idols, from Brazilian Formula One great Ayrton Senna to Colombian Nobel Laureate Gabriel Garcia Marquez. The body of Maradona, who […]

Pet store

COVID-19 Support Measures Lead to Significant Drop in Insolvency Appointments – Insolvency/Bankruptcy/Restructuring

Australia: COVID-19 support measures lead to significant drop in insolvency appointments September 04, 2020 Worrells Solvency and Forensic Accountants To print this article, all you need to do is be registered or log in to Mondaq.com. Statistics for the June 2020 quarter on business and personal insolvency. The long-term downward […]

Pet store

Pacific Drilling Begins Voluntary Chapter 11 Process; Restructuring support agreement to eliminate all $1.1 billion bond debt; Global operations are expected to continue as usual

LUXEMBOURG–(BUSINESS WIRE)–Pacific Drilling SA (NYSE: PACD) today announced that it and certain of its domestic and international subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court for the Southern District of Texas and entered into a restructuring support agreement with an ad […]

Pet store

World’s second oldest airline threatened with bankruptcy

NEW YORK, SAO PAULO: Avianca Holdings, Latin America’s second-largest airline, filed for bankruptcy on Sunday, after failing to meet a bond payment deadline, while appealing for coronavirus help from the Colombian government have so far been unsuccessful. If it fails to emerge from bankruptcy, Bogota-based Avianca would be one of the first major carriers in […]

Pet store

J.Crew files for bankruptcy

UPDATE 5/4: On Monday, the J.Crew Group announced that it was officially filing for Chapter 11 bankruptcy. In a press releasethe company announced a “comprehensive deleveraging agreement [its] balance sheet and position J.Crew and Madewell for long-term profitable growth. The company transfers ownership to its creditors by converting $1.65 billion of its debt into equity; […]

Pet store

Argument Preview: Judges Consider Sanctions for Violating Bankruptcy Discharge

By Ronald Man April 17, 2019 at 11:36 a.m. Taggart vs. Lorenzen, which will be heard on April 24, the last day of oral argument for the October 2018 term, presents a simple legal question for the judges. Specifically, where a debtor has received a bankruptcy discharge, does a creditor’s good faith belief that a […]

Pet store

Police arrest man suspected of killing NJ and 4 dead in New Mexico

This is an archived article and the information in the article may be out of date. Please look at the timestamp on the story to see when it was last updated. ALBUQUERQUE, NM (AP) — A man wanted in the murders of four people in New Mexico and one in New Jersey was arrested Wednesday […]

Pet store

Dean & Deluca filed for bankruptcy protection

Photo: Jeenah Moon/Bloomberg via Getty Images In October 2019, Dean & DeLuca, the iconic gourmet grocery chain, closed its last location in Soho. The business had been in decline since 2014 when it was taken over by Thai company Pace Development, with customers reporting empty shelves while vendors – many of them small local businesses […]

Pet store

Farmer’s bankruptcy appeal dismissed

The Court of Appeal (CoA) has rejected a farmer’s request to annul his bankruptcy for a debt of 1.48 million euros. The CoA’s decision on Monday came after several years of litigation involving Danske Bank and Paul O’Shea of ​​Davidstown, Castledermot, Co Kildare. Mr O’Shea was jailed twice for disobeying orders to hand over possession […]

Pet store

As 4th Virus Relief Bill nears passage, fight looms over 5th

WASHINGTON (AP) — Congress is poised to pass a nearly $500 billion coronavirus relief bill, but battle lines are already forming over the next measure amid growing demands for approving additional billions for state and local governments, the Postal Service, and even infrastructure. Talk of a fifth measure is quickly facing opposition from conservatives, mostly […]

Pet store

The Roots of Farm Bankruptcy in Oregon

Your browser does not support the audio element. Federal Bankruptcy Court in Portland was nearly empty when apple grower Richard Blaine walked in. It was mid-October and the harvest was in full swing in his orchards in Oregon and Washington. As the workers ripped Granny Smiths and Golden Delicious from their trees, Blaine shifted in […]

Pet store

HopCat restaurants emerge from bankruptcy and are sold to a new owner

GRAND RAPIDS, MI — The HopCat restaurant chain was sold to new owners about five months after former owner BarFly Ventures filed for bankruptcy. Two investment firms – Congruent Investment Partners and Main Street Capital – have teamed up to buy BarFly Ventures for $17.5 million. They created a new operating company, Project BarFly LLC. […]

Pet store

AMC Entertainment: bankruptcy seems imminent (NYSE: AMC)

There is every reason to believe that bankruptcy seems imminent for AMC Entertainment (New York stock market :CMA). Recently the company noted that it may not have enough cash by the end of 2020 or the beginning of 2021, while Bloomberg reported that AMC is seeking to file for Chapter 11. Preliminary third quarter results […]

Pet store

Retailers blame coronavirus for pushing them out of business

(Bloomberg)—The spread of the coronavirus has already begun to hurt the most vulnerable businesses: those that are bankrupt or on the brink. Retailers love furniture retailer Pier 1 Imports Inc. (No. 121 in the 2019 Digital Commerce 360 ​​Top 1000) and direct mail Bluestem Brands Inc. pointed to virus problems to justify their claims for […]

Pet store

PG&E is on the verge of emerging from bankruptcy, ending a saga sparked by fires

Just 19 months after the Camp Fire broke out in the Powder Keg Mountains of northern California, PG&E Corp.The electric utility that sparked the deadliest conflagration in state history, is on the verge of emerging from bankruptcy, with its safety still in question. As the state prepares for another fire season, the judge handling PG&E’s […]

Pet store

Developer Royal Palm Cos. reviewed hotel/condo plans at Miami Worldcenter | Miami-Dade – Florida Trend

COVID-19 UPDATE Anti-viral building In the wake of the coronavirus, developer Royal Palm Cos. revised its plans for a hotel and condo at Miami Worldcenter, the ongoing 27-acre, $5 billion mixed-use project in downtown Miami. RPC now plans to make the Legacy Hotel & Residences pandemic-proof, with voice-activated elevators, contactless access to room keys, and […]

Pet store

911 tapes reveal Arkansas grandmother’s agony after road rage shooting of 3-year-old

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated. LITTLE ROCK, Ark. — The weekend shopping trip wasn’t supposed to end like this. One minute, the grandmother of 3-year-old Acen King steered them toward […]

Pet store

Eastern Niagara Hospital Hosts Public Forum on Its Future in Bankruptcy

The most popular #1 Nurses’ march on Washington planned to address workplace violence and other ‘serious issues’ The peaceful protest, sponsored by Nurses Against Violence, will also highlight safe staffing ratios. … Read more #2 Detroit is the most racially segregated hospital market in the country The Lown Institute ranked the city’s hospital markets and […]

Pet store

CPUC approves PG&E’s reorganization plan, paving the way for emergence from bankruptcy

UPDATE: November 25, 2020: The California Public Utilities Commission (CPUC) is evaluating whether to initiate an enhanced six-step monitoring and enforcement process on PG&E, due to “what appears to be a pattern of vegetation and assets” on behalf of the public service, said Marybel Batjer, president of the agency. noted in a letter to PG&E […]

Pet store

Puerto Rico board reaches tentative deal to partially reduce public debt

SAN JUAN, Puerto Rico — A federal board of control that oversees Puerto Rico’s finances announced Wednesday that it has reached an agreement in principle with creditors to reduce some of the U.S. territory’s more than $70 billion public debt. The board said the tentative agreement followed a mediation process with creditors holding some $7 […]

Pet store

An introduction to municipal bankruptcy

The current economic stress caused by the COVID-19 pandemic is expected to continue for the foreseeable future. The loss of income and revenue for businesses and individuals has already dramatically reduced state and local tax revenues, while at the same time many of those same government entities are spending vast sums to fight the pandemic. […]

Pet store

Debt Reinstatement: Strict Bankruptcy Court Interpretation and Application of Change of Control Provisions to Protect Senior Secured Lenders

In In re Young Broadcasting, Inc., et al., 430 BR 99 (Bankr. SDNY 2010), a bankruptcy court narrowly construed the change of control provisions of a pre-petition credit agreement and declined to confirm a reorganization plan for a committee of unsecured creditors, which had been founded on the reinstatement of accelerated secured debt of debtors […]

Pet store

Planning an American Bankruptcy Epidemic by Ben Iverson and Mark Roe

The COVID-19 pandemic appears likely to cause the largest surge in bankruptcies the US court system has ever seen. Without an immediate increase in judicial capacity to handle the flood of cases to come, an even greater economic disaster awaits. PROVO/CAMBRIDGE – Neiman Marcus and JC Penney, two of America’s retail giants, recently failed for […]

Pet store

Banks lose millions in the way they deal with troubled borrowers

Banks lose more than €100,000 each time they reject a personal insolvency petition, but many continue to ‘defy business logic’ by forcing troubled borrowers down the road to bankruptcy, it has been claimed . In a new report published by the Insolvency Service of Ireland (ISI), Permanent TSB is exposed as the bank least likely […]

Pet store

The Detroit News

Robert Snell, Christine Ferretti, Steve Pardo, Chad Livengood | The Detroit News In a bankruptcy case involving numbers — $18 billion in debt, 32,000 retirees, 35,000 broken streetlights — a judge needed 75 seconds on Friday to approve a plan to undo decades of financial decline. U.S. Bankruptcy Judge Steven Rhodes then gave a nearly […]

Pet store

LeClairRyan trustee sues law firm’s former ULX joint venture for $128 million

LeClairRyan’s padlocked former office in Richmond. (BizSense File) LeClairRyan’s biggest creditor is now the first big target of the defunct Richmond legal giant’s bankruptcy trustee, who is seeking hundreds of millions of dollars in damages. Lynn Tavenner, who is handling LeClairRyan’s bankruptcy, filed a lawsuit Monday against ULX Partners and UnitedLex Corp., claiming the defendants […]

Pet store

Alliance Data Systems Corporation Announces Proposed $500 Million Senior Bond Offering

Columbus, Ohio, September 17, 2020 /PRNewswire/ — Alliance Data Systems Corporation (NYSE: ADS) (“Covenant Data“) today announced its intention to offer, subject to market conditions and other factors, $500.0 million aggregate principal amount of senior notes due 2026 (the “Remarks“). The Notes will be offered to qualified institutional purchasers pursuant to Rule 144A of the […]

Pet store

US Senators Cruz and Rubio warn Pacific ally of Chinese bid for undersea cable project – letter

U.S. Secretary of State Mike Pompeo’s plane makes a landing approach to Pohnpei International Airport in Kolonia, Federated States of Micronesia August 5, 2019. REUTERS/Jonathan Ernst/File Photo Join now for FREE unlimited access to Reuters.com Register SYDNEY, Dec 23 (Reuters) – Leading U.S. lawmakers have warned a Pacific ally that China risks jeopardizing the safety […]

Pet store

Irish court grants Norwegian Air creditor protection

By Conor Humphries, Terje Solsvik DUBLIN/OSLO (Reuters) – Ireland’s High Court on Monday granted Norwegian Air and its Irish subsidiaries protection from creditors, giving the airline more time to restructure its massive debts. Norwegian last month asked the court to allow an examiner, a legal proceeding similar to Chapter 11 bankruptcy in the United States […]

Pet store

Hertz bankruptcy underscores pressure on airport car rental obligations

Like the airports they serve, consolidated car rental facilities have seen business drop to record lows in the space of three months. Since the first ConRAC opened in Sacramento, Calif., in 1998, at least 42 airports have funded rental car centers, mostly with taxable revenue bonds backed by customer installation fees on each rental. Six […]

Pet store

Thanks to quarantine, Elevator Music files for bankruptcy

muzak is in trouble. Since 1934, the people’s company has offered retailers musical strategies to increase worker productivity, encourage consumerism and manipulate mood in a brick-and-mortar experience. Muzak was bought in 2011 by Austin-based Mood Media, which also specializes in the power to manipulate carefully curated scents, decor and social media, in hopes the parent […]

Pet store

Gibson guitars file for bankruptcy

Iconic guitar brand Gibson has filed for bankruptcy. The company produces the iconic Les Paul and SG lines, and are favorites of players from Jimmy Page, Slash, Carlos Santana, James Dean Bradfield and beyond. They were founded over 100 years ago in Michigan, USA, and sell over 170,000 guitars a year in over 80 countries. […]