(Bloomberg) — Hong Kong, once known as the world’s freest economy and “Asia’s global city”, is now second only in pakistan as the worst place to live during covid. The city, rocked by its worst outbreak since the start of the pandemic, saw its ranking drop to 52nd on Bloomberg. Covid Resilience Ranking in February […]
A federal judge in a bankruptcy case involving the Roman Catholic Diocese of Harrisburg has ruled that church officials cannot shield assets such as $50 million in Harrisburg real estate, including the residence, from liability. of Bishop Ronald Gainer and the Priests’ Retirement Home. Other assets include eight cemeteries and seven secondary schools. Advocates for […]
Offshore contract driller Seadrill is out of Chapter 11 after completing its reorganization plan upheld by the U.S. Bankruptcy Court for the Southern District of Texas last October. The restructuring significantly lightened the company’s balance sheet by balancing $4.9 billion in secured bank debt previously held across twelve silos, streamlining the capital structure with a […]
Intelsat was able to emerge from a lengthy Chapter 11 process as a private company The plan for reorganization, which was affirmed at the trial in the month of December cut the company’s debts to half. It went from $16 billion up to $7 billion. It also obtained $6.7 billion in financing, which includes the […]
DETROIT — A husband and wife have pleaded guilty to federal charges related to a fraud scheme that included falsely providing food aid, false bankruptcy and lying to the IRS, officials said. Abraham Elsaghir, 52, of Dearborn, pleaded guilty to one count of misrepresentation to a United States agency, one count of federal tax evasion […]
Over the past decade, there have been several court rulings on whether particular set-off bonuses should be allowed as part of a creditor’s claim in bankruptcy, such as momentary,1 EFH,2 American Airlines,3 and Ultra Oil.4 While these and other decisions set out the legal standards to be applied and resolve the specific claims at issue, […]
A bankruptcy court order approving Haldia Petrochemicals’ proposal to acquire Coastal Oil & Gas Infrastructure Pvt Ltd at just Rs 1 crore above liquidation value has again highlighted concerns raised by a Mumbai, which had questioned the confidentiality of valuation reports in the Videocon resolution case. Haldia Petrochemicals’ proposal, promoted by Purnendu Chatterjee, also represents […]
The Commodity Futures Trading Corp. lawsuit vs. former Eastern Washington rancher Cody Allen on Easter Day has been suspended in federal court, pending the outcome of its pending bankruptcy case. Easterday pleaded guilty to defrauding Tyson Foods and another public company of $244 million in expenses for buying and feeding hundreds of thousands of cattle […]
Acorn Sign Graphics headquarters at 4109 W. Clay St. (BizSense File) Partly because of what he says is a dispute with one of his biggest customers, a local sign company has closed and gone bankrupt. Acorn Sign Graphics filed for Chapter 7 liquidation on Wednesday and ceased operations. “While recovering from COVID and supply chain […]
News of the Lido closing came as a shock to many who believed in the startup, which offered live online lessons to students in grades K-9 in math, science, English and coding in small groups of six.Illustration: Chaitanya Dinesh Surpur Days after it was reported that edtech startup Lido Learning was closing because it ran […]
Over the past two years, the number of bankruptcies filed has fluctuated mainly due to the circumstances created by the pandemic. Organizations across all sectors were unprepared for such a crisis and scrambled to mitigate the financial fallout. The hardest hit industries at the start of the pandemic included retail, entertainment, travel, hospitality, restaurants and […]
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A woman disinfects her hand in Bogota, Colombia March 25, 2021. REUTERS/Luisa Gonzalez Join now for FREE unlimited access to Reuters.com Register 4E Brands hand sanitizers may have contained methanol The company will cease operations in Chapter 11 The names of companies and law firms listed above are auto-generated based on the text of the […]
For nearly six years, Honey Do Men Gutters Inc. has been trying to collect payment of $61,814 for work on Teba Gumbs’ home in Peekskill, and for six years Gumbs has evaded collection of that debt. Now, a federal bankruptcy judge has granted Honey Do a preliminary victory, awarding the Carmel repair and renovation company […]
According to research experts from Qurate Research, “Global Commercial claim in the event of bankruptcy Market 2022 Insights, Size, Sharing, Growth, Opportunities, Emerging Trends, Forecast to 2028.†The study is an anthology of in-depth research studies on many aspects of the global Commercial Bankruptcy Claims industry. It is an admirable effort to offer a true […]
ELKHART — A Chicago real estate company is accused of using a bankruptcy petition as a bad faith effort to avoid paying what it owes for the Concord Mall. Ton Real Estate Investments X LLC filed for Chapter 11 bankruptcy on January 25. He bought the Concord Mall two years ago, but the company that […]
Owning a restaurant is like being the captain of a ship. You have to worry not only about the state of the ship itself, but also about the seas. Over the past two years, the COVID-19 pandemic has been responsible for the most unpredictable seas in decades. Between full closures, partial openings, returns to full […]
(Credit: courtneyk/Getty Images) According to a new report, senior-focused organizations, independent and assisted living communities, and skilled nursing facilities accounted for a significant share of healthcare bankruptcy filings in the fourth quarter of 2021. The Polsinelli-TrBK Distress Indices report, published by law firm Polsinelli, noted that as the health sector begins a return to pre-pandemic […]
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Electrical Reliability Council of Texas (ERCOT) Command Center in Taylor, Texas August 14, 2012. REUTERS/Julia Robinson Join now for FREE unlimited access to Reuters.com Register Grid operator says high prices are part of the energy system Texas’ largest electric co-op says bill expected to be $770 million The names of companies and law firms listed […]