Nov 10 U.S. bankruptcy court approves sale of J.C. Penney By Anne D'Innocenzio, Associated Press A U.S. bankruptcy court approved the sale of the ailing 118-year-old retailer to its two largest landlords and its primary lenders. Continue reading
Aug 21 Weinstein seeks to pursue arbitration over firing By Randall Chase, Associated Press The Weinstein Co. sought bankruptcy protection in 2018 amid a sexual misconduct scandal that triggered a nationwide movement to address predatory sexual behavior and harassment. A New York jury convicted Weinstein in February of rape and sexual assault. Continue reading
Jul 30 Analysis: Cities hit hard by the COVID-19 pandemic face bankruptcy By Mark Davidson, Kevin Ward, The Conversation With sales tax revenues plummeting because of the pandemic, many cities will face bankruptcy – and that could affect everything from retirees' pensions to whether roads get fixed. Continue reading
Apr 26 A flood of business bankruptcies likely in coming months By Joyce M. Rosenberg, Associated Press The billions of dollars in coronavirus relief targeted at small businesses may not prevent some of them from ending up in bankruptcy court. Continue reading
Feb 27 Regulators boost PG&E's wildfire fine to $2.1 billion By Michael Liedtke, Associated Press The increased punishment includes a $200 million payment earmarked for the people who lost family and property in catastrophic wildfires caused by PG&E's outdated electrical grid and negligence during 2017 and 2018. Continue reading
Feb 25 Drugmaker Mallinckrodt reaches $1.6 billion opioid settlement By Geoff Mulvihill, Associated Press The English company was one of the highest-volume opioid producers in the U.S. and is seeking bankruptcy protection as part of the deal. Continue reading
Feb 24 Boy Scouts' bankruptcy could result in compensation for more abuse survivors By Pamela Foohey, The Conversation The Scouts’ initial bankruptcy documents state that 275 lawsuits are pending in state and federal courts across the country, and that attorneys for survivors estimate another 1,400 claims will be filed. Continue reading
Feb 13 McClatchy files for bankruptcy protection By Michelle Chapman, Associated Press McClatchy Co.'s 30 newsrooms, including The Charlotte Observer, The News & Observer in Raleigh, and The Star-Telegram in Fort Worth, will continue to operate as usual as the publisher reorganizes under Chapter 11 bankruptcy protection. Continue reading
Jan 22 California governor urges judge to reject PG&E bankruptcy plan By Michael Liedtke, Associated Press California Gov. Gavin Newsom is urging a federal judge to reject Pacific Gas and Electric's blueprint for getting out of bankruptcy and renewing his threat to lead a bid to turn the beleaguered utility into a government-run operation. Continue reading
Jan 07 Warren's new bankruptcy plan could spark a clash with Biden By Will Weissert, Associated Press The Massachusetts senator on Tuesday unveiled a plan she said would make the process of declaring bankruptcy easier and cheaper for many Americans with debts they can’t pay. It also would largely undo a 2005 law that was backed by… Continue reading