bankruptcy News
Rite Aid Advisers Rake in Millions Through Bankruptcy; Opioid Victims Brace for Nothing
Nancy Zailo is at the back of the line. She's behind Jeffrey Stein, the Rite Aid Corp. chief executive collecting $300,000 paychecks every month. She's behind consultants at Alvarez & Marsal, who ...
4 Insurers, 5 Policies to Pay $73M Sandy Hook Settlement Against Gunmaker Remington
A federal bankruptcy court in Alabama has approved insurance payments totaling $73 million by four insurers to the families of the victims of the Sandy Hook massacre. The settlement with gunmaker ...
Judge Will Approve Purdue Pharma Bankruptcy Plan Shielding Owners From Opioid Lawsuit Liability
A U.S. judge said on Wednesday he would approve OxyContin maker Purdue Pharma LP's bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company's ...
Boy Scouts Postpone Bankruptcy Step After Judge Places Legal Fees, Insurer Deal Into Question
Attorneys for the Boy Scouts of America are postponing a key bankruptcy hearing that was scheduled to start this week, following a court ruling that casts uncertainty on the future of the case. ...
California Utility Emerges From Bankruptcy After Wildfires Pushed It to the Brink
Nearly a year and a half after collapsing under $30 billion in liabilities from wildfires sparked by its equipment, PG&E Corp. has emerged from the biggest utility bankruptcy in U.S. history. The ...
Wildfire Victims Win Right to File Reorg Plan for Bankrupt California Utility
The judge overseeing the bankruptcy of PG&E Corp on Wednesday issued an order opening the door to a group of noteholders and wildfire victims to file their own reorganization plan for the ...
Sears Sues Former Chairman and His Hedge Fund, Alleging Looting of Assets
Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars ...
‘Potentially Crushing’ Wildfire Liabilities Force California Utility to Prepare Bankruptcy Filing
PG&E Corp, owner of the biggest U.S. power utility by number of customers, said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially ...