March 2021

MCH Group, the Swiss owner of Art Basel, plans to sell up to 44% of its shares to James Murdoch, son of billionaire media magnate Rupert Murdoch. The news follows a grim 2019 report that predicted losses of up…

As the coronavirus pandemic keeps US retail stores closed, Michael McGrail is bracing for what is shaping up to be a busy summer of broken sales at some all-important chains."Some companies just aren't going to survive this," says McGrail,…

Megan Noh, a Chapter 11 trustee of the defunct online auction house Paddle8, filed a lawsuit this week in U.S. Bankruptcy Court, Southern District of New York, against alleged board member John Textor.…

The publisher of the Miami Herald and dozens of other newspapers across the country have filed for bankruptcy protection.The newspaper industry has been devastated by developments in technology that have sent the vast majority of people…

This is an archived article and the information in the article may be out of date. Please look at the timestamp on the story to see when it was last updated. PEORIA, Ariz. – San Diego Padres pitcher Jacob Nix was kicked and…

(Adds details of agreement with creditors, background)Nov 24 (Reuters) - Canada's Cirque du Soleil Entertainment Group said on Tuesday it had emerged from bankruptcy, after the COVID-19 pandemic forced the famed circus operator to cancel…

ISLAMABAD, Pakistan — His country nearly went to war with a neighboring enemy six and a half times its size. Militants roam religious schools and the countryside.And with inflation soaring and debt soaring, his finance team is scrambling,…

This is an archived article and the information in the article may be out of date. Please look at the timestamp on the story to see when it was last updated. BRIGHTON, Colo. – A man who was wanted in a Boulder County armed…

CHATTANOOGA, Tenn. (KFYR) - CBL Properties, the parent company of two major North Dakota shopping malls, has reached a restructuring agreement to pay off debt and could file for Chapter 11 bankruptcy in October, according to statements on…

An online ski ticket broker filed court documents Thursday challenging an attempt by Aspen Skiing Co. and other ski area operators to force it into bankruptcy. In written motions to…

"It's extremely complex, but it's important to the state," said Andrew Helman, the state's attorney, referring to New Hampshire's complicated Medicaid reimbursement formula, which requires LRGHealthcare to pay a tax. $5 million Medicaid…

Why $40 just isn't enough for debt-laden US shale Midland, Texas is the beating heart of shale production in the United States. In this part of the United States, they know all too well what booms and busts look like. Last…

The Small Business Reorganization Act, which came into effect in February 2020, significantly changes the small business bankruptcy process. Before SBRA Prior to the enactment of the SBRA, businesses had two main options when filing…

Apple (NASDAQ:AAPL) is undoubtedly one of the most profitable companies in the world today. Given the company's huge cash reserve, investors usually flock in droves to its periodic debt offerings. These investors…

AppleInsider is supported by its audience and is eligible to earn an Amazon Associate and Affiliate Partner commission on qualifying purchases. These affiliate partnerships do not influence our editorial content.…

By Richard Crump (March 5, 2021, 4:27 p.m. GMT) – A consortium of Indian banks on Friday won permission to appeal the adjournment of English bankruptcy proceedings seeking to recover £1.05 billion (1 .45 billion) from former Indian…

New York-based representatives for Emerald and LoanCore did not immediately respond to requests for comment.Emerald purchased the 107th Street properties in December 2016 with plans to convert them into condominiums, while the 117th Street…

PHILADELPHIA (WPVI) — The National Museum of American Jewish History has filed for bankruptcy, citing debt from the construction of its building as the reason.The 100,000 square foot museum on 5th and Market streets was deliberately built…

Some companies don't even try to argue that executive pay has been cut. At $6.4 million, the cash bonus paid to Whiting Petroleum chief executive Bradley J. Holly is higher than the $5.5 million the company has assessed his total…

TOP LINE A day after warning it could be forced to file for bankruptcy, Norwegian Cruise Line announced Wednesday that it has raised more than $2 billion in funding to ensure the company can sustain "much more" a year without income amid…

Millions of Americans are struggling with student debt on top of the challenges posed by the coronavirus pandemic and economic recession. Unlike other categories of personal debt, most student loans are non-dischargeable unless there is…

GREENWICH, Conn., March 11, 2021 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) ("the Company") today announced that the Company's Board of Directors has declared a dividend of $0.48 per common share for the quarter ending…

It's no secret that the growth of US shale oil has been a thorn in the side of Saudi Arabia and Russia. They have seen their market share erode as the shale boom has made the United States the world's largest producer of crude oil. But…

WWE Chairman Vince McMahon's reputation has reportedly taken a hit among members of the business community after the XFL filed for Chapter 11 bankruptcy this week.As reported on Monday, Vince's football league filed for bankruptcy in the…

Domestic private equity giants have amassed a massive war chest in anticipation of the price drop expected to stem from the COVID-19 crisis. But these equity investors are not alone. A wide range of companies…

'Windy City Rehab' host Alison Victoria wants to buy out and move into a Lincoln Square…

GARY | When Detroit filed for bankruptcy in the largest municipal bankruptcy in US history, it brought to mind recent memories of Gary appearing before the Distressed Unit Appeals Board year after year, and led some to…

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--iQor ("the Company"), a managed services provider of technology-based customer engagement and BPO solutions, today announced that the Company and each of its U.S. subsidiaries have emerged…

The Dallas retailer has begun Chapter 11 proceedings, but it's unclear whether it will be able to follow through on its fall emergence plan. The Neiman Marcus Group has begun Chapter 11 bankruptcy proceedings, but it's…

Press Releases 03/11/2021 Attorney General Tong announces multi-state settlement with US medical collection agency over data breach in 2019 (Hartford, CT) –…

The United States Court of Appeals for the Ninth Circuit recently ruled that a creditor of a bankrupt corporation can assert alter ego claims against sole shareholders of the corporation. The California Court of Appeals for the Second…

The Federal Communications Commission has approved Frontier Communications' plan to eliminate debt through bankruptcy, which transfers control of the Norwalk-based company to creditors.This follows a preliminary OK from Connecticut…

By Kaori Kaneko, Izumi NakagawaTOKYO (Reuters) - Japanese Prime Minister Shinzo Abe is expected to fulfill his term as head of the ruling party, and thus prime minister, until his term ends in September next year, l one of his closest…

On May 10, Avianca Holdings, the parent company of Avianca, filed for Chapter 11 bankruptcy in the United States. This procedure will protect it from creditors and allow the company to reorganize while preserving Avianca's business as…

HAMPTON ROADS, Va. — The parent companies of two local shopping centers announced Monday that they have filed for bankruptcy.CBL Properties, which is based in Chattanooga, Tennessee, announced that CBL & Associates Properties, Inc., CBL…

Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk said Thursday that his electric vehicle company and Ford Motor Company (NYSE:F) were the only U.S. automakers that didn't go bankrupt among the thousands of startups operating in the…

Maggie Rogers didn't stutter as she declared 2019 to be her year on her catchy and sinful debut album, Heard It In A Past Life. Rogers' foray into the electro-alternative genre creates an ideal work to sit back and relax while…

Scandinavian budget carrier Norwegian today warned it faces a 'significant risk' of insolvency as it disclosed a third quarter net loss of NKr 980 million ($108 million). Still reeling from the Norwegian government's November 9 announcement…

Private equity firms Certares Management and Knighthead Capital Management are teaming up to extricate Hertz from Chapter 11 bankruptcy by July through a $4.2 billion reorganization plan approved by the beleaguered rental car…

Frontier Airlines' IPO is making headlines as the second airline to file in 2021. The travel industry was crushed in 2020, but companies are hoping to ride the wave of a rebound in 2021. But l Frontier stock a good investment…

To print this article, all you need to do is be registered or log in to Mondaq.com. Key points Notice of joint and several liability for directors of insolvent corporations HMRC preferred creditor…

Prospect Medical Holdings Inc., a hospital manager backed by private equity firm Leonard Green & Partners LP, is trying to block Prime Healthcare Services Inc.'s $350 million purchase of a bankrupt hospital in the Los Angeles area.Los…

MADISON — When attorney Paul Swanson took out his shingle, he intended to practice tax law, but as it happened, the farm crisis of the 1980s was in full swing and his first case involved a farmer who needed help. 'aid. Because of the…

Farmers in north-central Idaho have remained solvent amid an industry trend of rising bankruptcy filings…

LITTLETON, Colo.--(BUSINESS WIRE)--APC Automotive Technologies, LLC, together with certain of its subsidiaries ("APC" or the "Company"), today announced that it has entered into a comprehensive Restructuring Support Agreement (the…

Note to readers: As I was finishing up my draft of this article, I was looking at oil and gas royalty company Brigham Minerals (NYSE: MNRL), I saw the news that Saudi Arabia was reporting an attack on one of its oil export terminals,…

…

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 lack of a bankruptcy framework for Chinese financial…

As the coronavirus pandemic begins to fade, the global economy is experiencing a massive rise in bankruptcies, stretched financial market valuations, job losses and education disruptions. Factors that have led world production to…

If you or someone you know is considering bankruptcy, it is important to understand what will happen as a result of the bankruptcy process. When you declare bankruptcy, you will be affected in three important ways. First, you!-->…

When it comes to the richest men in London, they aren't much richer than Lakshmi Mittal.With an estimated fortune of almost £7billion, the gods smiled upon the tycoon who built his wealth by buying up and building steelworks around the…

Chicago civil rights advocates on Thursday criticized a Supreme Court ruling that the city does not have to immediately return seized vehicles to people who have filed for bankruptcy. Judge Samuel Alito wrote that a creditor – in this…

(Reuters) - Oil and gas explorer Callon Petroleum Co CPE.N has hired advisers to restructure its debt of more than $3 billion after a crash in energy prices spoiled its acquisition of a rival, people familiar with the matter said on…

In a shockingly routine turn of events, a judge has approved the last-minute deal that will keep Aéropostale open for business - albeit in a more limited way. Judge Sean Lane of the US Bankruptcy Court in New York has given final approval…

LONDON (Reuters) - The "king of the high street" has lost his kingdom. The collapse of British businessman Philip Green's Arcadia fashion empire into administration on Monday looks set to put an inglorious end to a remarkable and…

Barring a rise in U.S. oil prices, about 150 other energy operators could face Chapter 11 bankruptcy filings through 2022, according to new analysis from Rystad Energy. The pandemic has weighed on the upstream industry,…

Many companies will likely be forced to deal with debt and cash flow issues – you need to act smart and fast to prevent problems from snowballing. Notice to creditors: Stop the snowball effect! Set credit limit and request advance payments…

Granted, many economists and policy pundits view student debt as a sound investment, unlike high-interest credit card debt, which is simply a drain on consumers' budgets and has been declining in recent years. . As recently as 2000,…

FILE PHOTO: Vials with a sticker reading 'COVID-19/Coronavirus vaccine/Injection only' and a medical syringe are seen in front of a Moderna logo displayed in this illustration taken October 31, 2020. REUTERS/Dado Ruvic/Illustration/ photo…

As long as there is an acknowledgment of debt on the company's books, lenders can take the debtor to the dedicated bankruptcy court for initiating the corporate insolvency resolution process (CIRP) ruled on National Company Law Tribunal…

Student loan borrowers in the United States collectively owe nearly $ 1.5 trillion in student debt and, according to the Brookings Institute, nearly 40% of borrowers will default on their student loans by 2023.Right now, it's nearly…

The car is idle in the Hertz Rent-A-Car rental lot at San Francisco International Airport on April 30, 2020 in San Francisco, California.Justin Sullivan | Getty ImagesHertz on Monday raised doubts about the going concern of the car rental…

AMC Entertainment, the world's largest movie theater chain, has raised $ 917 million "to get through this dark coronavirus-hit winter," in the company's (dramatic) words. As a result, President and CEO Adam Aron said Monday that "any…

The bonds backed by Hertz Global Holdings Inc.'s rental car fleet had the same credit rating as the U.S. government just a few weeks ago. Today, the company's financial difficulties raise concerns that investors are heading for a loss. The…

The word “bankruptcy” comes with dark undertones: J.Crew announced that he was filing for Chapter 11 bankruptcy last week, for example, and immediately received instant praise, ours included. During the weekend, my mother lamented that she…

PREIT CEO Joseph Coradino and CBL Properties Founder Charles B. Lebovitz with the Fashion District in downtown Philadelphia and the Burnsville Center Mall in Minneapolis (Google Maps) The Covid-accelerated retail apocalypse has claimed…

Mayor Fischer's office said Louisville was "not at all close to declaring bankruptcy" and was dependent on help from the federal government. LOUISVILLE, Ky. - The city of Derby can't wait to move on to a new…

How to fly got so horrible…

The new chairman of the Federal Reserve has asked why troubled borrowers cannot pay off their student loans in bankruptcy. "Alone among all kinds of debt, we do not allow student loan debt to be discharged in…

It has been nearly two months since most of California's non-essential businesses were closed, and everything from national retail chains to beloved local restaurants are being forced to make tough decisions. Last week Gold's Gym announced…

Retailers had struggled before, and now they are supporting the weight of the impact of the coronavirus. But a big gym brand and a big car rental company also filed for bankruptcy recently.Filing for bankruptcy does not necessarily mean…

Editor's Note: The Economist makes some of its most significant coverage of the covid-19 pandemic available to readers of The economist today, our daily newsletter. To receive it, subscribe here. For our coronavirus tracker and more…

WASHINGTON - In a move that some bankers and commentators have called "crazy," the coronavirus-infected car rental company Hertz was allowed to sell $ 1 billion in shares on Friday, an extraordinary move after declaring bankruptcy to…

Bruin E&P Partners emerged from bankruptcy that allowed the Houston oil and gas company to pay off most of its debt.The company, backed by private equity firm ArcLight, wiped out more than $ 840 million of nearly $ 1.1 billion in debt…