Bankruptcy process

ACannabis company Kalamazoo's recent Chapter 11 bankruptcy filing will test particularly murky legal waters and could potentially set a legal precedent for other cannabis-related businesses facing insolvency. Master Equity Group LLC filed…

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Future Retail has informed the stock exchanges that Bank of India has requested NCLT to initiate bankruptcy proceedings due to non-payment of dues. "We have received a copy of the…

Reliance Capital's bankruptcy process is likely to be further delayed due to confusion in finalizing resolution plans for its subsidiaries, which are for-profit entities. In addition to being profitable, these subsidiaries are "well…

The Congress party has demanded a comprehensive white paper on bankruptcy proceedings while accusing the government of protecting defaulters through huge write-offs through the insolvency process through the Insolvency and Bankruptcy Board…

Mexico City, Mexico — Grupo Aeroméxico says it has completed its financial restructuring process under Chapter 11 of U.S. law. The airline said that as part of the restructuring, it had capitalized unsecured loans of approximately…

MEXICO CITY, March 17 (Reuters) - Mexican airline Grupo Aeromexico (AEROMEX.MX) said on Thursday it had emerged from bankruptcy protection, adding that it now plans to spend $5 billion over the next next five years for its fleet…

Three lenders have combined exposure of Rs 13,483 cr in the troubled company; express concern that despite the tight timelines mentioned in the IBC, debt settlement is far from complete…

jetcityimage/iStock Editorial via Getty Images 3M (NYSE: MMM) jumped nearly 5% in Friday trading, bouncing off 21-month lows, possibly helped by a court decision which upheld Johnson & Johnson's request to use the bankruptcy…

Richmond Mercurio - The Filipino StarJanuary 2, 2022 | 00:00 MANILA, Philippines – Philippine Airlines Inc. (PAL) exited its voluntary Chapter 11 process, successfully completing its financial restructuring in a much faster timeframe…

Flag carrier Philippine Airlines (PAL) entered 2022 on a high after emerging from a voluntary debt reorganization process. In a statement released Friday evening, PAL announced that it had exited its Chapter 11 voluntary bankruptcy…

(1st UPDATE) “There are immense challenges ahead, but we look forward to meeting them as a reinvigorated Philippine Airlines,” says PAL President and COO Gilbert Santa Maria. MANILA, Philippines – Flag carrier…

MADRID (Reuters) - The Spanish government on Tuesday proposed reforming its insolvency law to simplify bankruptcy procedures and fulfill a major condition agreed with Brussels to obtain stimulus funds from the European Union.The current…

MADRID, Dec 21 (Reuters) - The Spanish government on Tuesday proposed to reform its insolvency law to simplify bankruptcy procedures and fulfill a major condition agreed with Brussels to obtain stimulus funds from the European Union.The…

NEW DELHI : The Insolvency and Bankruptcy Board of India (IBBI) will set up panels of resolution professionals according to the location of their head office and the volume of their ongoing assignments, a database…

An Avianca airline logo is pictured at the headquarters in Bogota, Colombia August 29, 2019. REUTERS/Luisa GonzalezJoin now for FREE unlimited access to Reuters.comRegisterBOGOTA, Dec 1 (Reuters) - Colombian airline Avianca (AVT_p.CN) said…

NEW YORK - A federal judge should dismiss a sweeping settlement of thousands of lawsuits against OxyContin maker Purdue Pharma, a group of states said in a hearing on Tuesday, arguing that the protections it extends to members of the…

NEW YORK — A federal judge is expected to dismiss a sweeping settlement of thousands of lawsuits against OxyContin maker Purdue Pharma, a group of states said in a hearing on Tuesday, arguing that the protections it extends to members of…

Monday, November 22, 2021 The history of bankruptcy practice in the era of the Bankruptcy Code, 1979 to today, has been that of eliminating chance…

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The former Mallett store at 929 Madison…

THE head of the Department of Finance (DOF) says officials must first see the final outcome of Philippine Airlines Inc.'s (PAL) Chapter 11 bankruptcy proceedings before deciding whether government banks are helping to bail out the…

“We will have a lighter balance sheet. We will have new capital and our cost structure will be much leaner,” Philippine Airlines Chairman Gilbert Santa Maria said. Flag carrier Philippine Airlines (PAL) expects to…

In a bid to bring more accountability and improvement to the bankruptcy resolution process, the Insolvency and Bankruptcy Board of India (IBBI) has called for more disclosures and transparency. ADVERTISINGThe IBBI has amended the…

A group of clergy abuse survivors has asked a federal judge to suspend an order that prevents their cases from being heard in state court during the Diocese of Rochester's bankruptcy process.Attorneys for the survivors filed a motion on…

A federal judge's ruling this week could shield the Sackler family from the Massachusetts lawsuit over the family's role in the opioid epidemic, and Attorney General Maura Healey isn't happy about it.Healey was among the first state…

Sivasankaran, who was the founder of Aircel before selling it to Malaysia's Maxis Communications, is no stranger to controversy.SynopsisThe creditors, which include State Bank of India and Maxis Communications Bhd of Malaysia, the former…

Four years after Puerto Rico filed for bankruptcy under Title III of the federal Promesa Act, more than $830…

The Hertz Corporation has to look at AMC Entertainment and wonder what could have been. Hertz, battered in the early weeks of the pandemic, filed for Chapter 11 bankruptcy in May last year. However, in the weeks that followed, its…

It's been years since businesses filed for Chapter 11 bankruptcy protection at the rate they are today. According to data from Epiq Systems, commercial Chapter 11 filings increased 48% in May from a year ago, with a total of 724 new…

The irony of filing for bankruptcy in the United States is that those who need it most often cannot afford it. Hiring a lawyer can cost $2,000 in legal fees, which you probably won't have if you file for bankruptcy. If someone who's lost…

How Puerto Rico deals with its staggering debt is in the hands of a federal judge who will oversee a form of bankruptcy proceedings for the US territory. Puerto Rico owes more than $74 billion to island and U.S. creditors and more than $40…