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

[ad_1] 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 […]

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judge orders new bankruptcy auction for Limetree Bay refinery | New

[ad_1] 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 […]

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Indiana joins others in opposing USA Gymnastics settlement plan

[ad_1] 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 […]

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Mallinckrodt bankruptcy judge dismisses insurers’ antitrust complaints

[ad_1] 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 […]

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Watsonville Hospital Corporation initiates bankruptcy proceedings – Santa Cruz Sentinel

[ad_1] 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 […]

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Meridian Mall owners come out of bankruptcy

[ad_1] 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 […]

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

[ad_1] 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 […]

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Colorado bankruptcies drop 26% in November from a year ago

[ad_1] 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 […]

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Sampdoria president resigns after arrest in bankruptcy case

[ad_1] 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 […]

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Musk warns SpaceX risks bankruptcy

[ad_1] 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, […]

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

[ad_1] 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 […]

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

[ad_1] 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, […]

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Protecting Administrative Claims of Creditors in Chapter 11 Bankruptcy Cases

[ad_1] 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 – […]

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

[ad_1] 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. […]

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Changes in officers’ liability under bankruptcy law

[ad_1] 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 […]

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

[ad_1] 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 […]

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

[ad_1] 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 […]

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

[ad_1] 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. […]

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

[ad_1] 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) […]

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November 2021 New declarations of bankruptcy

[ad_1] 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 […]

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California Resources files for bankruptcy

California Resources Corp, the state’s largest oil and gas producer, has filed for bankruptcy, becoming the latest U.S. energy group to falter amid falling crude prices triggered by the coronavirus pandemic. The recent market turmoil proved to be the final straw for a company that had struggled under the weight of its debt since its […]

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Board of directors reaches tentative agreement to reduce Puerto Rico’s debt

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

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Cheaper transfer fees, swap deals and buyouts

The coronavirus pandemic is the biggest crisis professional football has ever seen. The uncertainty over whether the leagues will be able to complete the 2019-20 season is just the start of it; beyond that, football will not return to normal for a long time. “Full stadiums will only be seen again when we are safe, […]

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Chuck E. Cheese parent files for bankruptcy as COVID-19 deals another blow

By Kanishka Singh (Reuters) – The parent company of Chuck E. Cheese, the once popular child-themed restaurant chain, filed for Chapter 11 bankruptcy on Thursday, struggling with a huge pile of debt and dismal sales due closures across the country. CEC Entertainment [CEII.UL]which also owns Peter Piper Pizza, said it plans to use bankruptcy proceedings […]

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How many times has Big Ed filed for bankruptcy?

90 day fiance star Big Ed has been in hot water with fans recently following his behavior towards Rose Vega on the show. And it turns out Ed is so much more than fans first thought. A colleague of Ed’s from his past recently came forward with allegations of sexual harassment and assault against the […]

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Months after contracting COVID-19, UMD students face the aftermath

By Shifra DayakFor the Diamondback After playing football with a friend recently, Olivia Rutigliano found she was struggling to catch her breath. Rutigliano, a freshman in business and environmental science and policy at the University of Maryland, tested positive for COVID-19 in July but had persistent symptoms despite recovering months ago. COVID-19 can cause prolonged […]

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Ann Taylor, LOFT, Lane Bryant and More File for Bankruptcy in Richmond, Va. | Sands Anderson PC

Ascena Retail Group, Inc. and 63 related debtors, including apparel retailers Ann Taylor, LOFT, Lane Bryant, Lou & Grey, Catherines and Justice, have filed for Chapter 11 bankruptcy protection with the Richmond Division of the United States Bankruptcy Court for the East. District of Virginia. lawyers of our Bankruptcy team attended the “day one” hearings […]

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Company emerges from bankruptcy with less debt, fewer stores and a bright future

“We are still very active.” These words from Payless ShoeSource Chief Financial Officer Michael Schwindle confirm the strong and determined approach the Topeka-based company is bringing to its challenges as it emerges from bankruptcy on Thursday. “We had two major jobs to do during the bankruptcy,” he said. “The first was to reset our debt […]

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Kevin O’Leary’s advice for a jeweler with a consignment deal with Neiman Marcus

Same as retail sales started to rebound in May, a growing list of retailers filed for bankruptcy as the Covid-19 pandemic gripped the economy. These bankruptcies can also have a ripple effect on other small business owners. Case in point: on the new CNBC Web series “Having a Financial Dispute? Ask Kevin,” host Kevin O’Leary […]

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Steve Jobs was legendary and Tim Cook is a ‘genius’, says author

On paper, Tim Cook is an unlikely candidate to be America’s top activist CEO. A son of the South from a deep red state, he is white and a worker. He studied no-frills subjects like engineering and business. His predecessor Steve Jobs seemed much more liberal. From a moderate California background, early Jobs had long […]

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COVID-19 will cause widespread bankruptcies in the UK despite state aid

A sign is seen on the front of a closed cinema in York, northern England, on March 30, 2020, as life in Britain continues during the nationwide lockdown to tackle the novel coronavirus pandemic . (OLI SCARFF/AFP via Getty Images) Fears are growing over the future of the UK economy, as experts warn the government’s […]

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Pramod Mittal declared Britain’s ‘most bankrupt’. His brother Lakshmi Mittal is one of the richest people in the world

Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Poulomi Ghosh Lakshmi Mittal’s brother Pramod Mittal has been declared the most bankrupt man by the High Court in London because he owes £2.5billion to various people including his father, wife, son and his brother-in-law. His brother Lakshmi Mittal, CEO of steel magnate ArcelorMittal, is one […]

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Men’s Wearhouse owner files for bankruptcy as pandemic torpedoes suit sales

London CNN Business — Tailor-made brandswhich owns Men’s Wearhouse and Jos. A. Bank, has filed for bankruptcy, becoming the latest US victim of the coronavirus pandemic that has wiped out demand for office attire. The company said in a statement on Sunday that it had filed a request Chapter 11 bankruptcy protection in a Texas […]

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Cain’s newest accuser has a history of financial troubles

November 28, 2011 &# 151; — As one of his earliest accusers, the latest woman to accuse Republican presidential candidate Herman Cain of sexual misconduct has a history of financial problems, with eviction threatened for non-payment of rent just two years ago weeks. Ginger White, who claimed in an interview with Atlanta Fox News affiliate […]

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Difference Between Chapter 7 and Chapter 11 Bankruptcies: Yahoo U

The retail apocalypse has struck again this week with Pier 1 Imports (IRP) announcing mass store closures and rumors spread that the company could be heading for bankruptcy. Pier 1 is closing nearly half of its 942 stores and Bloomberg reported that the retailer has drafted a bankruptcy plan and pitched ideas for a smaller […]

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Increase in bankruptcies of energy companies in the 2nd quarter

Eighteen oil and gas companies filed for bankruptcy in the second quarter, the most in a single quarter since the trough of the last oil crisis, according to a new report. Chesapeake Energy, Ultra Petroleum, Unit Corp. and Whiting Petroleum were among the biggest energy bankruptcies in the second quarter, according to Haynes and Boone, […]

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How the case will affect victims, assets

The Boy Scouts of America filed for Chapter 11 bankruptcy protection early Tuesday as the organization faces 275 lawsuits for abuse and potentially 1,400 more cases to come. Having already paid more than $150 million in settlements and legal fees between 2017 and 2019, the Boy Scouts hope to contain the financial damage of the […]

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Ski resorts push lift ticket seller Liftopia into bankruptcy, revealing deep impacts of coronavirus shutdowns

Aspen Skiing Co., Alterra Mountain Co., Arapahoe Basin and Canada’s Cypress Bowl are asking a federal bankruptcy judge to force online lift ticket seller Liftopia into bankruptcy, saying the California-based company owes more than $2 million dollars to stations. COVID-19 IN COLORADO The latest from the coronavirus outbreak in Colorado: MAP: Cases and deaths in […]

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J. Crew group emerges from bankruptcy – WWD

J-Crew has a chance to regain its cool factor. Mother Society, J-Crew Group, emerged from bankruptcy, completing a four-month restructuring process involving a sharp reduction in debt and the bringing in of new owners. On Friday, the company said it was now “well positioned for long-term growth” after converting $1.6 billion of its $1.7 billion […]

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bankrupt power

The electricity sector is the foundation of an economy. Red alert: Pakistan’s electricity sector – without government subsidies – is bankrupt. The real culprit behind this bankruptcy is: flagrant bad governance. This blatant bad governance results in: circular debt and capacity payments (the two are indeed linked). Circular debt has risen from 1.1 trillion rupees […]

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Chesapeake shares surged despite looming bankruptcy, but debt-free Sandridge is more compelling

Chesapeake Energy (CHK) the stock climbs despite getting ready to drop for bankruptcy – up more than 300% in the last month: Data by Y-Charts The table above includes various comparable measures, including an energy stock ETFs (XOP), a small-cap energy stock ETFs (ECSP), an oil ETFs (USO) and a 12 month front band oil […]

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The pandemic takes a bite out, Chuck E. Cheese files for bankruptcy

IRVING, Texas — Chuck E. Cheese — where kids could be kids while parents nursed their headaches — files for bankruptcy protection. The 43-year-old chain, which attracted kids with pizza, video games and a singing mouse mascot, was struggling even before the coronavirus pandemic. But he said the prolonged closure of many outlets due to […]

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Frontier prepares for bankruptcy and regrets not installing enough fiber

Enlarge / A Frontier Communications van. As Frontier Communications nears an expected bankruptcy filing, the ISP has told investors its problems stem largely from its failure to properly invest in upgrading from DSL to fiber broadband. The presentation to investors, which is included in a Filing with the Securities and Exchange Commission, said that “significant […]

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Is Assertio Holdings (NASDAQ:ASRT) using too much debt?

Howard Marks said it well when he said that, rather than worrying about stock price volatility, “the possibility of permanent loss is the risk I worry about…and that every practical investor that I know is worried”. So it may be obvious that you need to take debt into account when thinking about the risk of […]

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Reva Medical of San Diego files for bankruptcy due to heavy debt

Reva Medical, a San Diego company that has developed blood vessel stents that dissolve over time, said this week that it had filed for Chapter 11 bankruptcy as part of a pre-packaged effort to restructure its heavy debt. The company filed the petition in Delaware on Wednesday. It secured pre-bankruptcy financing of $4.4 million, which […]

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The barge Bouchard Transportation files the Chapter 11 files

A 102-year-old Long Island oil barge operator involved in a series of accidents, including a fatal explosion in 2017, has filed for Chapter 11 bankruptcy. Melville-based Bouchard Transportation Co. Inc., which claims to be the nation’s largest independent ocean-going oil barge company, filed the case Monday in U.S. bankruptcy court in Houston. In a statement […]

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Boatim Inc. secured over $1 million in equity investment

MIAMI, January 19, 2021 /PRNewswire/ — Boatim Inc. (OTCQB: BTIM), a global data-driven online marketplace for buying and selling boats and yachts, converted $1,060,000 of its debt to equity last Friday. The board accepted requests from several holders to convert their notes before their maturity date. By converting, these noteholders expressed their continued confidence in […]

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The World Facing the Bankruptcy Time Bomb: Study

Credit: Unsplash/CC0 public domain Governments around the world are scrambling to rescue businesses battered by coronavirus shutdowns, but the world is nonetheless facing a massive one-third rise in bankruptcies, according to research by a commercial insurance company on Monday. “COVID-19 is creating an insolvency ticking time bomb,” said the Euler Hermes report, predicting a 35% […]

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Chapter 11 bankruptcy filings jump

A New Albany, Ohio music school offering piano, guitar and violin lessons has racked up nearly $1 million in loans and $35,000 in credit card debt. A gourmet restaurant in Providence, RI, received more than $450,000 in federal small business funds to help pay workers, but still had to close. A nonprofit overseeing the Kit […]

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What filing for bankruptcy means for The Charlotte Observer

By now many of you have read or heard that The Observer’s parent company, McClatchy, has moved last week to restructure under Chapter 11 of the United States Bankruptcy Code. It is important for our readers to understand that this filing has no immediate impact on our staff, readers and subscribers, or our company’s relationships […]

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LSC Communications files for bankruptcy after printing demand drops

Chicago-based LSC Communications filed for bankruptcy less than a year after scrapping a proposed $1.4 billion merger with rival printing company Quad/Graphics. The company, which prints magazines, catalogs, directories and books, has suffered from a shift to online advertising and saw an “unprecedented” decline in demand for magazines and catalogs last year, said chief financial […]

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Sentenced: Bankrupt claimed to have burned £70,000 owed to creditors

David Harry Lowes-Bird (71), of Trimsaran, Kidwelly, was convicted on Wednesday February 13, 2019 of one count of fraudulent removal of property contrary to the Insolvency Act 1986. At Swansea Crown Court he was sentenced to 6 months in prison, suspended for 12 months. During a three-day trial, the court heard David Lowes-Bird was embroiled […]

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Louis XVI – Execution, Marie Antoinette & Children

Who was Louis XVI of France? Louis XVI was the last Bourbon king of France executed in 1793 for treason. In 1770 he married the Austrian Archduchess Marie Antoinette, the daughter of Maria Theresa and Holy Roman Emperor Francis I. After a series of missteps in power, Louis XVI caused the French Revolution to crumble […]

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Toys R Us files for bankruptcy but keeps stores open

NEW YORK (AP) — Toys R Us, the major toy retailer struggling with $5 billion in debt and intense online competition, has filed for bankruptcy ahead of the key holiday shopping season — and says its stores will remain open. as per usual . The Wayne, New Jersey-based company said late Monday it was voluntarily […]

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After driving Frontier out of business, CEO steps down

After driving Frontier Communications into bankruptcy, Bernie Han is leaving the company along with a UK telecommunications veteran to take his place as CEO from next March. Border installed Han as CEO entering in December 2019, then filed for chapter 11 bankruptcy protection last April. The Norwalk-based company is currently seeking state approval to emerge […]

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SoftBank Vision Fund: 15 companies expected to go bankrupt

SoftBank founder and CEO Masayoshi Son estimates that at least 15 companies in the Vision Fund will go bankrupt as the company tightens its financial belt and COVID-19 continues to rattle the economy. The SoftBank Vision Fund has been in serious financial trouble since an ill-fated investment in WeWork, a flexible office rental company. WeWork […]

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Zombification of the Insolvency and Bankruptcy Code

[i] See, for example, COVID-19 (Temporary Measures) (Singapore) Act 2020; Coronavirus Economic Response Package Omnibus Act 2020 (Australia); Corporate Insolvency and Governance Act 2020 (UK). [ii] Companies in difficulty: corporate undead, The Economist, September 26 – October 2, 2020, p. 69-70. [iii] Insolvency and Bankruptcy Code (Second Amendment Act), 2020, No. 17, Acts of Parliament, […]

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Warren’s new bankruptcy plan could spark a clash with Biden

Sen. Elizabeth Warren promises to remake the nation’s consumer bankruptcy system if elected president, returning to her political roots while potentially battling with a big rival for the Democratic nomination, former Vice President Joe Biden. The Massachusetts senator on Tuesday unveiled a to plan she said it would make the process of filing bankruptcy easier […]

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COVID-19: City of Vancouver at risk of bankruptcy, says mayor

The City of Vancouver is at risk of bankruptcy, the mayor has said, citing a recent poll showing that more than half of property owners do not expect to pay full property taxes this year amid financial strains from COVID- 19 settle down. In a press release issued Sunday afternoon, Mayor Kennedy Stewart said his […]

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A much smaller Ruby Tuesday emerges from bankruptcy

Photo courtesy of Ruby Tuesday Ruby Tuesday, the iconic bar and grill chain, emerged from federal bankruptcy protection with less debt and far fewer restaurants. The Maryville, Tennessee-based chain, whose decline over the past 15 years has been a symbolic demonstration of the challenges facing mall-focused ’80s casual restaurants, has 209 locations after the bankruptcy […]

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The Broke and the Beautiful: Drake Bell, Donna D’Errico Bankruptcies Revealed

This week on The Broke and the Beautiful, a few celebrity bankruptcy cases are revealed. Sitcom star Drake Bell has been out of business since last May, and former “Baywatch” star Donna D’Errico took her turn in Chapter 7. Plus, Betsey Johnson is putting her own spin on Fashion Week from New York. Drake Bell […]

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I am a debt counselor – and I went bankrupt

bystaff of the week January 11, 2015 January 11, 2015 There are certain moments in your life that you remember in great detail. Your first kiss. The first time your heart was broken. One of those days for me was the day I had to tell my wife that we had to file for bankruptcy. […]

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Lone Star Brewery owner files for bankruptcy

For years developers have tried unsuccessfully to revitalize the Lone Star Brewery, a run-down complex south of King William that closed in 1996. The latest setback: The property owner filed for Chapter 11 reorganization on Monday, a day before the development was to be sold in a foreclosure auction. Lone Star Brewery Development Inc., a […]

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The father of the Modern Witbier family brewery declares bankruptcy

Austin, TX, June 26, 2019 — Celis Brewery, owned by the daughter of Pierre Celis, who brought the… [+] Belgian style witbier (shown here, brewer unknown) back from extinction, reportedly closing. Photo credit: Getty UPDATED TO INCLUDE CHRISTINE CELIS’ RESPONSE AND BANKRUPTCY NOTICE Two years after the daughter and granddaughter of the late Belgian brewer […]

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Debt collector could face $21m tab in data breach deal

By Carolina Bolado (March 11, 2021, 8:12 PM EST) – Bankruptcy collection agency Retrieval-Masters Creditors Bureau agreed Thursday to implement data security practices and be liable for a potential payout of $21 million to end a multi-state investigation into a months-long data breach that exposed the personal information of about 20 million people. Attorneys general […]

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Southpark Mall owners file for bankruptcy

COLONIAL HEIGHTS, Va. (WWBT) – CBL Properties, owner of the Southpark shopping center in Colonial Heights, has filed for bankruptcy protection. The company and other related entities have filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court, according to a press release. The filing […]

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Twisted Root sees bankruptcy as a path to future survival

Photo courtesy of Twisted Root Dallas-based burger concept Twisted Root Burger Co. filed for Chapter 11 bankruptcy protection for three of its units this month, with plans to do the same for more. its restaurants to keep the fast-casual chain afloat, the company said. “Chapter 11 is for businesses that intend to reopen, but need […]

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Express isn’t going bankrupt, but it’s not a good investment either (NYSE:EXPR)

The Express management team (New York stock market :EXPR) is walking a tightrope right now. They had a business turnaround plan consisting primarily of right-sizing their cost structure to match a declining revenue trend that has been consistent for the past 5 years. Express, after all, operates most of its stores in malls and outlets. […]

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Buyout giant TPG hopes to cash in on Cirque du Soleil bankruptcy

The private equity giant that drove Cirque du Soleil to the brink of bankruptcy now wants to share the spoils, The Post has learned. Texas-based TPG Capital has positioned itself to make money from a much-anticipated Cirque du Soleil bankruptcy by turning itself into a lender in a last-minute move that has the company’s existing […]

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Poor second half sees Maryland men’s basketball fall to Rutgers, 74-60

Geo Baker got up and fired, as he had done all night. He had only played nine minutes before Rutgers’ game with Maryland Men’s Basketball, a sprained ankle that ruled him out of the Scarlet Knights’ last three games. But it didn’t take much to find the rhythm. The senior had already scored eight points […]

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Neiman Marcus files for bankruptcy as coronavirus batters retail industry

(CNN) – Neiman Marcus filed for bankruptcy Thursday as the coronavirus pandemic continues to batter the retail industry. The upscale department store chain has locations at Copley Place and the Natick Mall. Neiman said in a statement that it has reached a restructuring agreement with its creditors that will allow it to “significantly reduce debt […]

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Indian Railways installed bio toilets in 68,000 coaches

Under its “Swachh Rail-Swachh Bharat” initiative, Indian Railways has installed bio-toilets in 68,000 coaches. “A total of 49,487 bio-toilets were installed in 14,916 coaches in 2019-2020. This brings the cumulative number of bio-toilets to over 2, 45,400 installed in 68,800 coaches with 100% coverage,” the paths Indian iron said in a statement. It comes at […]

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PG&E and Windstream top list of bankruptcy cases to watch in 2020

The distress and uncertainty surrounding corporate restructuring will persist as the new decade begins. Some of 2019’s biggest bankruptcies, such as PG&E Corp., Purdue Pharma LP and Forever 21 Inc., remain unresolved and tense negotiations are still ongoing. PG&E Corp. is mired in a costly and complicated bankruptcy with no clear end in sight. The […]

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Exclusive: US gunsmith Remington seeks funding to file for bankruptcy: sources

By Andre Berlin, Jessica Di Napoli (Reuters) – Remington Outdoor Company Inc, one of the largest U.S. gunmakers, has contacted banks and investment funds seeking funding that would allow it to file for bankruptcy , sources familiar with the matter said on Thursday. FILE PHOTO: People look at Remington rifles and shotguns at the annual […]

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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 […]

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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 […]

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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 […]

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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, […]

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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 . […]