Disinfecting wipes maker GPMI declares bankruptcy and lays off dozens of workers
The onset of a global health pandemic seemed to bode well for companies in the right sector, like disinfectant wipes maker Gilbert GPMI Company, but things didn't go as planned. After a major expansion deal with an Israeli industrial…
DWD Reaches Settlement for Claim Filed in Briggs & Stratton Bankruptcy Case
The Wisconsin Department of Workforce Development and the state's Department of Justice have reached a $200,000 settlement as part of the Department of Workforce Development's claim filed in the bankruptcy case of Briggs & Stratton…
The owners of the famous Anthony file for bankruptcy following an epidemic of hepatitis A
The owners of a restaurant chain in Roanoke, Va., closed one establishment and filed for bankruptcy at two others due to a deadly outbreak of hepatitis A that swept through the community last fall.
At least four people have died, more than…
Considerations on Automatic Stay of Bankruptcy Filing
The automatic stay is a procedural tool in a bankruptcy case that effectively stops creditors' efforts to collect a debtor's unpaid obligations. As discussed in more detail in our previous article, immediately after a…
Bankruptcy cases have dropped dramatically in 2021, but new challenges await, and here are some…
Hi, MarketWatchers. Don't miss these top stories.'Companies that don't offer this are missing out': Hybrid work from home/office equals 10% pay rise, Stanford economist says The flexibility of remote working has…
How Federal Law Can Help You Get a Financial Fresh Start in 2022 —
I remember the story of a poor old beggar who died one day – and to everyone's surprise, a money belt found wrapped around his waist contained thousands of dollars in cash. Apparently he had found the money belt while rummaging…
PAL emerges from Chapter 11 bankruptcy process
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…
PAL emerges from Chapter 11 bankruptcy process │ GMA News Online
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…
Philippine Airlines emerges from Chapter 11 bankruptcy process in the United States
(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…
Purdue bankruptcy judge extends temporary litigation protection for Sacklers
Sacklers protected until February 1Judge leads negotiations to change opioid dealDec 29 (Reuters) - A bankruptcy judge has extended temporary opioid litigation protections for members of the Sackler family who own Purdue Pharma until…
The Pittsburgh Press Club’s Lavish History Ended in Bankruptcy
The hottest ticket of the summer of 1966 belonged to one of 1,000 people lucky enough to be a member of the Pittsburgh Press Club, which included journalists but also many of the city's business leaders.
The Pittsburgh Press Club…
Spain streamlines bankruptcy process to get EU recovery funds
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…
Spain streamlines bankruptcy process to get EU recovery funds | Investment News
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…
IBBI will form a panel of professionals to speed up the bankruptcy process
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…
Colombian airline Avianca says it has completed bankruptcy process
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…
Owners of Oxycontin maker abusing bankruptcy process, states say
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…
States: Sackler family members abuse bankruptcy process
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…
Bankruptcy process and agreements
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…
Warren and Cornyn introduce bill to block judge shopping in bankruptcy
U.S. Senator Elizabeth Warren (D-MA) speaks during a news conference outside the U.S. Capitol in Washington, U.S., September 21, 2021. REUTERS/Elizabeth FrantzJoin now for FREE unlimited access to Reuters.comRegisterBill calls on businesses…
Stanley Gibbons begins bankruptcy process for subsidiary Mallett after New York lease dispute
The former Mallett store at 929 Madison…
Government in wait-and-see mode on PAL bankruptcy process
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…
PAL expects Chapter 11 bankruptcy process to complete in 2021
“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…
Insolvency Law Monitor Changes Rules to Increase Transparency in Bankruptcy Process
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…
Abuse survivors seek release from Diocese of Rochester bankruptcy process
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…
Lawmakers debate bill to change bankruptcy laws protecting Purdue owners
Democrats slam 'loophole' that benefits Sackler family membersPurdue says it is focused on bankruptcy reorganization planMass. AG says bankruptcy law not meant to protect billionaires(Reuters) - Democratic lawmakers on Tuesday called for…
Healey says the Sackler family are trying to ‘hijack and abuse the bankruptcy process’…
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…
Siva Industries: Creditors Drop Siva Industries Bankruptcy Process
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…
Fourth Circuit: Just Because Bankruptcy Laws Must Be Uniform Doesn’t Mean They Can’t Be…
By a two-to-one vote, in an April 29 opinion, the United States Court of Appeals for the Fourth Circuit reversed a ruling by the United States Bankruptcy Court for the Eastern District of Virginia that an increase in 2017 of the American…
Anime John Oliver Explains the Cartoonish Wickedness of Personal Bankruptcy Laws
Cartoon John Oliver, FriendsScreenshot: Last week tonightListen, nobody says that Last week tonight host and occasional wise-cracking bird sidekick John Oliver looks like a cartoon. Except John Oliver, who noted during his Sunday lead!-->!-->…
China to put financial institution bankruptcy laws on legislative agenda
BEIJING (Reuters) - China will put financial institution bankruptcy laws on its legislative agenda for the first time, according to a report by the top legislature on Monday.The absence of a legal bankruptcy framework for Chinese financial…
Proposed changes to bankruptcy laws could help struggling families :: WRAL.com
By Monica Laliberte, WRAL Executive Producer/5 on Your Side ReporterMonthly bills remain a struggle for many families. As COVID-19 relief programs run out, bankruptcy may be the…
$832 million in attorney fees for Puerto Rico’s bankruptcy process | Business
Four years after Puerto Rico filed for bankruptcy under Title III of the federal Promesa Act, more than $830…
A Way to Reform the Chapter 11 Bankruptcy Process
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…
Reforming Bankruptcy Laws Ahead of Covid Debt Maturity
Handmade signs litter the ground after an anti-eviction protest outside an apartment complex in Mount Rainier, Maryland, August 10, 2020.Leah Millis | ReutersEven with the latest coronavirus relief bill, economic tensions related to the…
Australia to overhaul bankruptcy laws to help businesses weather COVID-19
SYDNEY (Reuters) - Australia on Thursday unveiled its biggest overhaul of bankruptcy laws in nearly three decades, allowing companies to trade insolvent and better control debt restructuring, in a bid to help businesses through the…
5 Common Misconceptions About the Chapter 11 Bankruptcy Process
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…
Upsolve guides you through the bankruptcy process for free
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…
4 Reasons Puerto Rico’s “Bankruptcy” Process Matters to US Residents
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…