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Hospitality Investors Trust Bankruptcy – Notice to Investors

Investor Alert: Hospitality Investors Trust REIT Hospitality Investors Trust REIT and its operating partnership have filed for bankruptcy and investors are suing to recover their losses. NEW YORK CITY, NY, USA, June 23, 2021 /EINPresswire.com/ – Last week, Hospitality Investors Trust and its operating partnership filed for redress under Chapter 11 of the US Bankruptcy […]

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J.Crew’s bankruptcy filing may not be the last for retailers slammed by the pandemic: Coronavirus updates: NPR

J.Crew said he hopes the bankruptcy filing will help him get his finances in order as he continues to operate, albeit under COVID-19 restrictions for now. Gene J. Puskar/AP hide caption toggle caption Gene J. Puskar/AP J.Crew said he hopes the bankruptcy filing will help him get his finances in order as he continues to […]

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Local artist worries about suspended work at Trudy’s, amid restaurant bankruptcy filing

AUSTIN (KXAN) — Creating artwork is hard work, so when local artist Lonnie Prachyl started seeing the headlines about Trudy’s restaurants having financial trouble, he was concerned. Several of his paintings hang above the tables at Trudy’s Texas Star on 30th Street for sale. An online search revealed that the location was damaged in the […]

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HopCat files for bankruptcy after Port St. Lucie restaurant closes

HopCat’s parent company filed for bankruptcy following the closure of the Port St. Lucie restaurant. Michigan-based BarFly Ventures LLC has filed for Chapter 11 bankruptcy as part of a financial restructuring aimed at reducing the company’s current debt caused by the coronavirus pandemic and other reasons, according to a statement. June press release. These other […]

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Retail rout continues as Men’s Wearhouse, others file for bankruptcy protection

NEW YORK — Lord and Taylor, America’s oldest retailer, is filing for bankruptcy protection, as are the owner of Men’s Wearhouse and Jos. A. Bank, expanding the list of major retail chains that have faltered during the pandemic. Surnames, many of the country’s longtime mall stalwarts, were already struggling to keep up with sweeping reform […]

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Using a Section 73 Proposal to Cancel a Bankruptcy – Insolvency/Bankruptcy

July 02, 2020 Worrells Solvency and Forensic Accountants To print this article, all you need to do is be registered or log in to Mondaq.com. Changing the trajectory of financial well-being. People often mistakenly believe that once in bankruptcy there is nothing more they can do for their financial life until they are discharged from […]

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WR Grace ends bankruptcy protection after 12 years

Legislation & Litigation Our fact-checking process begins with a thorough review of all sources to ensure they are of high quality. Then we cross-check the facts with original medical or scientific reports published by those sources, or we validate the facts with reputable news outlets, medical and scientific experts, and other health experts. Each page […]

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Six Questions to Ask When Your Seller, Supplier or Customer Files for Bankruptcy | Haynsworth Sinkler Boyd, Pennsylvania

After nearly eight months of dealing with the severe economic impact of COVID-19, it’s no surprise that more businesses are looking to bankruptcy for help. Commercial deposits continue to rise as many government-supported programs expire and the lasting effects of COVID-19 take hold. For many corporate lawyers, interactions with bankruptcy may be limited, but how […]

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Demystifying the Receivership Process – Insolvency/Bankruptcy/Restructuring

In this fourth and final installment of the Demystifying Insolvency series, we focus on the receivership process. A company is placed in receivership when an independent and suitably qualified person (the receiver) is appointed by a secured creditor or the court and is responsible for taking control of some or all of the company’s assets […]

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Plymouth Meeting Mall owner reaches settlement with majority of lenders, but warns of Chapter 11 bankruptcy

Plymouth Meeting Mall owner PREIT announced on October 15 that it had reached an agreement with more than 80% of its bank lenders under which banks would provide an additional $150 million to recapitalize the business and extend the maturity of its debt, support PREIT’s operations and the continued execution of its strategic priorities. Under […]

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Judge approves Ruby Tuesday’s bankruptcy plan

The chain said it will now “compete more effectively” in the casual dining environment. A federal judge has approved Ruby Tuesday’s bankruptcy plan, which will give ownership to secured lenders Goldman Sachs and TCW Direct Lending in a debt/equity swap. The chain filed for bankruptcy in October. Prior to the filing, the restaurant and the […]

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Bankruptcy court approves $801 million sale of NPC International

Photography: Shutterstock A federal bankruptcy court judge on Wednesday cleared the $801 million sale of Pizza Hut and franchisee Wendy’s NPC International to another major operator, Flynn Restaurant Group, as well as five existing operators of the burger chain. Flynn Restaurant Group (FRG), already the largest restaurant franchisee in the United States, will get 925 […]

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Changes to UAE Bankruptcy Law

As announced this week, the UAE Cabinet has approved a new Amendment (Amendment Law) to Federal Law No. 9 of 2016 (The Business Bankruptcy Law). The amending law follows the previous amendment to the law on business bankruptcy in 2019 (in accordance with Federal Law No. 23 of 2019). The amending law has not yet […]

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Exclusive: Saad Group seeks debt settlement under Saudi bankruptcy law – sources

By Marwa Rashad, David Barbuscia RIYADH/DUBAI (Reuters) – The company of indebted Saudi billionaire Maan al-Sanea has filed for bankruptcy under a new Saudi law that makes it easier for creditors to collect payments, three sources familiar with the matter said, a ruling which could provide a breakthrough in the kingdom’s longest-running debt dispute. The […]

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COVID-19 bankruptcy filings highest since 2009

The year ended relatively slowly, with just 45 major corporate bankruptcies across all sectors since October 1 – the slowest quarter of 2020. But it still marked the busiest past three months. the year since 2009. More bankruptcy filings are expected this year as struggling retail businesses, including gyms and cinemas, finally succumb, according to […]

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Sharks won’t cancel Kane’s contract amid his bankruptcy filing

the San Jose Sharks will not cancel Evander Kane‘s contract as the forward navigates filing for bankruptcy in federal court, a team spokesperson has confirmed to Athletic’s Daniel Kaplan and Kevin Kurz. “The Sharks are 100% committed to honoring Evander Kane’s contract and have no intention of seeing it terminated,” the spokesperson said. The initial […]

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The consolidated credit law of 2021: temporary modifications to the bankruptcy code

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act of 2021 (CAA), the omnibus funding bill that provides consolidated appropriations for the fiscal year ending September 30, 2021. The CAA also provides various forms of economic assistance to cope with the effects of the COVID-19 pandemic. As part of its coronavirus […]

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Congress revises bankruptcy laws : NPR

The House of Representatives approves an overhaul of the country’s bankruptcy laws on Wednesday in a vote of 302 to 126. The bill, which passed the Senate last month, will make it harder to get rid of debt by filing for bankruptcy, forcing tens of thousands of people to come up with repayment plans instead. […]

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Elizabeth Warren’s bankruptcy plan rekindles old clash with Biden

Senator Elizabeth Warren tuesday announced a plan to overturn provisions of a 2005 bankruptcy lawreigniting a debate she had had 15 years ago with Joseph R. Biden Jr.a US senator at the time, on consumer protection and the credit card industry. Bankruptcy is an essential element in the history of the political origin of Mrs […]

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Denbury files for bankruptcy with debt reduction plan

Denbury Resources has filed for bankruptcy as part of a deal with its creditors to reduce its total debt by almost 90%. The oil company specializing in enhanced oil recovery in the United States is planning a quick trip through the process with a schedule that could allow it to complete the process this year. […]

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Lord & Taylor files for bankruptcy

Diving brief: Lord & Taylor, the oldest department store in the United States, and owner Le Tote and its various entities on Sunday filed for bankruptcy under Chapter 11, according to documents filed with the United States Bankruptcy Court in the Eastern District of Virginia. Privately held Le Tote, an online clothing rental company, said […]

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Debt Call Evidence: The Court’s Approach to a Challenge to an Official Liquidator’s Decision – Insolvency/Bankruptcy/Restructuring

Cayman Islands: Proof of debt call: the court’s approach to an official liquidator’s arbitration challenge To print this article, all you need to do is be registered or log in to Mondaq.com. In a recent case in the Grand Court of the Cayman Islands, Walkers successfully acted for the joint […]

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Ruby Tuesday closes 185 restaurants and files for Chapter 11 bankruptcy

Hampered by the pandemic and facing the same long-term challenges as other casual dining chains, Ruby Tuesday filed for Chapter 11 bankruptcy early Wednesday. The company hopes to use the debt reduction process to improve its finances and stay in business, saying in a statement that it has “reached an agreement with its secured lenders […]

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(AMC), Apple Inc. (NASDAQ:AAPL) – After Regal, COVID-19 Forces Theater Chain AMC to Consider Bankruptcy: Report

The largest cinema chain in the world – AMC Entertainment Holdings Inc. (NYSE: CMA) is considering options for a respite from debt, which includes potential bankruptcy, reports Bloomberg. The cinema chain is still reeling from the consequences of the pandemic outbreak and lockdown measures, which have kept moviegoers out of cinemas. What happened: The company […]

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Upper East Side condo conversion sells at bankruptcy auction

305 East 61st Street and Jason Carter of Carter Management Corp. (Google Maps; Carter Management Corp.) UPDATE, September 23, 3:30 p.m.: An Upper East Side condo conversion just sold at auction, a possible sign of distress in the New York real estate market. Jason Carter of Carter Management Corp. paid $51 million for the 14-unit, […]

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30 major retailers and restaurant chains that filed for bankruptcy in 2020 | national news

There’s no way to water it down: 2020 has been a brutal year for restaurants and stores. The pandemic, massive debt and a shift in shopping and dining habits have created a deadly cocktail of bankruptcies and closures. New data from Coresight Research reveals that US retailers have announced 8,400 closings this year. Ascena Retail […]

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Neiman Marcus set to emerge from bankruptcy this month – WWD

Neiman Marcus is expected to emerge from bankruptcy this month after a whirlwind reorganization that began in May. On Friday afternoon, a Texas bankruptcy court approved the luxury retailer’s restructuring plan that would convert some $4 billion in debt to equity, of its $5.5 billion in funded debt. With the restructuring confirmed, the retailer said […]

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Musical instrument retailer Guitar Center prepares for possible bankruptcy

guitar center would be preparing to file for possible bankruptcy. According to The New York Times, the nation’s largest musical instrument retailer missed a $45 million interest payment earlier this month, triggering a 30-day grace period that could end in default. The company is now said to be discussing with creditors a plan which could […]

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Coming out of bankruptcy – WWD

A number of retailers that filed for Chapter 11 bankruptcy in the early months of the COVID-19 crisis are now at the finish line or closing. To get here, retailers sought financing while facing the risks this come with store closures for monthsthen stores reopened during the ongoing pandemic and entered into agreements with creditorslenders […]

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Owner of Peebles and Gordmans chains files for bankruptcy | Local News

By GREGORY J. GILLIGAN Richmond Times-Dispatch Stage Stores Inc., owner of the Peebles and Gordmans department store chains, filed for Chapter 11 bankruptcy this week. The Houston-based company said it was looking for a buyer but planned to reopen as soon as Friday to begin liquidating its stores. The retailer has 738 stores in small […]

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Petersen-Dean files for Chapter 11 bankruptcy

JANUARY 2021 UPDATE: A company called SolarJuice American has taken over the Petersen-Dean solar contracts. Customers with concerns should contact the new company or contact Petersen-Dean directly at [email protected] or 1-800-564-0362. Petersen-Dean, a multi-state residential solar and roofing installer, has filed for Chapter 11 bankruptcy in Nevada. In a statement, the company said the voluntary […]

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‘A lot of trouble would start at the top’: How Payless botched its comeback after bankruptcy

Nearly two years after emerging from a bankruptcy filing, Payless ShoeSource is would have is about to re-file for bankruptcy protection. Payless joins a group of struggling retailers like imports from Pier 1, Gymboree and Shopko that have struggled to carve out a foothold as customer spending shifts online and mall traffic dwindles. Payless has […]

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Borden declares bankruptcy. And Elsie the cow is free.

Elsie the cow’s generations of loyal service as the advertising mascot for the giant Borden Dairy Company are finally over. And society too.Founded in Dallas, Texas, 160 years ago, Borden has long used Elsie the cow, dressed in a classic housewife apron, as the “warm and approachable mom” who championed the health of children by […]

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Detroit filing for bankruptcy dates back five years

The city of Detroit made history for the wrong reasons five years ago. On June 18, 2013, the city filed for Chapter 9 bankruptcy, becoming the largest municipal bankruptcy filing in United States history. Then-emergency manager Kevyn Orr initiated the process, which was later approved by Gov. Rick Snyder. The city was $18 billion in […]

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Surviving the Emotional Toll of Bankruptcy | Personal finance

Money may not bring happiness, but it can certainly inspire negative emotions, such as sadness, grief, and shame. These are just a few of the feelings people may have when filing for bankruptcy. Chapter 7, the most common form of consumer bankruptcy in the United States, involves turning over non-exempt assets to a trustee, who […]

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Ivan Yates on life after politics and his battles with bankruptcy and depression

When I meet broadcaster Ivan Yates, I feel like the shrink and he’s the patient, he has a bad back and he needs to lie down on the couch. He told me, “Newstalk guests are surprised when they see me lying on the floor, they think I collapsed or something but it’s just persistent back […]

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The man who once saved New York from bankruptcy explains why Detroit could sink – Quartz

The American city of Detroit is in great financial difficulty. Years of fiscal mismanagement and a shrinking population have left it with $14 billion in debt and a $300 million deficit last year, the nation’s auto capital heading for bankruptcy. Michigan Governor Rick Snyder just named Kevyn Orr, a Washington bankruptcy attorney, will serve as […]

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Bankruptcy of UK’s largest tour operator attracts thousands of holidaymakers | Smart News

Aero Pixels via Wikimedia Commons under CC 2.0 license Yesterday hundreds of thousands of travelers around the world discovered they were potentially stranded when Thomas Cook, one of the world’s largest and oldest travel agencies and charter airlines, abruptly announced bankruptcy. The company immediately began liquidating assets and laying off its 22,000 employees. The event […]

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Whiting emerged from bankruptcy. Analysts are starting to like the stock.

Text size David McNew/Getty Images Whiting Oil has been the first major oil and gas company to file for bankruptcy during the pandemic. Earlier this month, he emerged from the process with significantly less debt. Now analysts are gearing up for the company’s actions. They expect the company to become a player in mergers and […]

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AMC CEO Adam Aron: Bankruptcy is ‘completely irrelevant’

AMC Theaters delivered a sobering message last December, warning that the world’s largest cinema chain might run out of money by early 2021 due to increasing challenges posed by the coronavirus pandemic. On Monday, the company announced a reversal of fortune. It has raised nearly $917 million in funding since then, helping AMC avoid bankruptcy […]

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Major Change for Bankruptcy Preference Defendants Embedded in New Chapter 11 Small Business Law | Lowndes

On August 23, 2019, the President signed the “Small Business Reorganization Act”, which amended the bankruptcy code and comes into force on February 19, 2020. While SBRA aims to make the Chapter 11 reorganization process less costly and more efficient, Congress has included in the SBRA legislation a change to another section of the Bankruptcy […]

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AAF files sealed for Chapter 7 bankruptcy

The Alliance of American Football, which suspended operations earlier this month midway through its first season, filed for bankruptcy protection in Texas court on Wednesday. Based on the filing of assets and liabilities, the league — under the limited liability company Legendary Field Exhibitions LLC — had $11,372,298.68 in assets and $48,366,188.90 in liabilities. These […]

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Faraday Future founder completes personal bankruptcy

BEIJING — Jia Yueting, founder of Leshi Internet and electric vehicle maker Faraday Future, said Thursday that his personal bankruptcy process has been completed and a trust will be established to compensate Leshi shareholders. In a scholarship filing, however, Leshi said he had not heard from Jia about a compensation plan or related arrangement. He […]

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Pakistan on the verge of bankruptcy under the government of Imran Khan: PDM | world news

At a public meeting at Bacha Khan Chowk, leaders of the Pakistan Democratic Movement (PDM), made up of an 11-party alliance, said the poor policies of the Imran Khan-led government had brought the country to the brink of collapse. economic disaster. . Dawn quoted the PDM as saying that the struggle they had started would […]

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Weyerbacher Files For Bankruptcy, Sells 55% Stake To Private Equity Group Amid Debt And Deferred Interest – Good Beer Hunting

WHY IS IT IMPORTANT When looking at the variety of options from Lampe and his company, it feels like a checklist of what’s popular (or needed) for today’s struggling breweries. Changes may include continued production of spirits, which have been lapping up beer in terms of alcoholic beverage growth. Weyerbacher’s first spirits release, Jester’s Tale […]

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The pandemic takes a bite out, Chuck E. Cheese files for bankruptcy

Chuck E. Cheese — where kids could be kids while parents nursed their headaches — is filing for bankruptcy protection. The 43-year-old chain, which attracted kids with pizza, video games and a singing mouse mascot, was struggling even before the coronavirus pandemic. But he said the prolonged closure of many outlets due to coronavirus restrictions […]

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16 celebrities who went bankrupt or filed for bankruptcy

Lisa Marie Presley and Johnny Depp recently made headlines for their battles with their CEOs over huge amounts of money they lost or spent (or were scammed – but that’s yet to be determined) . Lisa Marie says she only has $14,000 left in her bank account. These two very famous people are not the […]

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Tattered Wealth: A Brief History of Bankruptcy in Pop | The music

Pioneers of the 70s and 80s Long before 50 Cent filed his bankruptcy “strategic company” this week, high-profile funk, soul and pop artists had asked to manage their debt, saying they lacked the money to pay it off. In 1976, Marvin Gaye filed for bankruptcy after the costs of his cocaine use and rising alimony […]

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Ruby Tuesday restaurant chain declares bankruptcy : Coronavirus updates : NPR

Chairs are stacked outside a closed Ruby Tuesday restaurant at the Orlando Intercontinental Airport on May 24, 2020. David J. Phillip/AP hide caption toggle caption David J. Phillip/AP Chairs are stacked outside a closed Ruby Tuesday restaurant at the Orlando Intercontinental Airport on May 24, 2020. David J. Phillip/AP Ruby Tuesday is the latest food […]

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American Airlines – The Possible Path to Bankruptcy (NASDAQ:AAL)

I invested in American Airlines (AAL) in the past, and I am a satisfied customer and frequent traveler. The main reason I sold my stock was because I disagreed with American’s capital allocation decisions. American used its cash and incurred additional debt to modernize its fleet while buying back stock. If a business I own […]

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REPORT: Hainan Airlines owner HNA Group bankrupt after failed debt restructuring

Jarren: The AirAsia brand has been badly tarnished by the company’s dishonest business practice of withholding… Alexander: This topic is very interesting and inspiring! this is new to me i found this article on google. Con… Cole Byrne: Thank you for sharing ! All my wishes!… James C. Makin: very good job, but looks a […]

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McConnell’s state bankruptcy remarks raise constitutional questions

Municipal finance experts say it may be unconstitutional for Congress to allow states to declare bankruptcy, and even if it is constitutional, it would be a bad idea. State and local finance experts say Congress may not have the right to grant states the ability to file for bankruptcy under the Constitution. They also argued […]

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Subordination plans in the event of bankruptcy not necessary

Friday, September 4, 2020 The United States Court of Appeals for the Third Circuit recently confirmed that bankruptcy plans need not always recognize subordination agreements between creditors. The Tribune Company was the largest media conglomerate in the United States when, in 2008, an attempted leveraged buyout imploded, triggering Tribune’s bankruptcy filing. As of the date […]

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Chapter 12 Bankruptcy filings rise 20% in 2019, remain well below 1987 levels

REGIONAL, STATE NUMBERS Wisconsin led the nation in Chapter 12 filings in 2019 with 57, which perhaps comes as no surprise given the continued weakness in milk prices. Georgia was No. 2 with 41 deposits. Ten states saw record or all-time high Chapter 12 filings, including Iowa, Illinois, Kansas, Minnesota, Nebraska, New Hampshire, Ohio, South […]

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Bankruptcy aid for farmers would worsen banks’ credit risk

President Trump is set to sign legislation that could shift more of the fallout from the escalating trade war with China onto the backs of agricultural banks. The Senate last week passed the Family Farmer Relief Act, which would allow more heavily indebted farmers to file for bankruptcy under Chapter 12. This chapter of the […]

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8 tips for dealing with bankruptcy

Knowing how farm leases are handled in bankruptcy helps tenants and landlords protect their businesses. According to Eric Johnson, a farm and bankruptcy attorney with Spencer Fane in Kansas City, Missouri, farm restructuring bankruptcies occur under Chapter 12 or Chapter 11 of the bankruptcy code. Farms that exceed Chapter 12 small farm debt limits must […]

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Rite Aid onboards new CIO as it flirts with bankruptcy

Diving brief: Rite Aid has appointed Justin Mennen as SVP and CIO, reporting to SVP and CFO Darren Karst, according to a company announcement. The pharmacy turns to Mennen to modernize its infrastructure and improve the experience for customers and associates. former CIO of Rite Aid, Steve Rempelquit earlier this year to take up the […]

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Filing for bankruptcy protection is a possible lifeline for struggling U.S. retailers

The list of US retailers that filed for bankruptcy during the sharp economic contraction of 2020 is long and varied. Companies range from those selling cheap, off-brand products to century-old brands that cater to the rich and famous. Lord & Taylor was one of many businesses hit hard by stay-at-home orders brought on by the […]

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Can I declare bankruptcy if a collection agency sues me?

This article was first published in The Gazetteand the original article can be found online here. It is important to consider all of your options before opting for bankruptcy. David Pomeroy and Rachel Maddocks of Ashfords explain. The simple answer to this question is yes, provided you meet the legal requirements. Since April 6, 2016, […]

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Chesapeake approved exit from bankruptcy and reduced debt by $7 billion

Chesapeake Energy Corp. won court approval for a reorganization plan that reduces debt by about $7 billion in exchange for surrendering the property to its major lenders, including Franklin Resources Inc. The ruling by US bankruptcy judge David Jones caps a years-long effort to repair the company’s finances, which have ballooned after repeated borrowing to […]

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Vermont hospital to emerge from bankruptcy

A bankruptcy judge has approved a deal for the Springfield, Vt., hospital to emerge from bankruptcy, about a year and a half after filing for Chapter 11 protection, according to the VTDigger. Springfield Hospital and Springfield Medical Care Systems, a group of associated health clinics, filed for bankruptcy in June 2019 after several years of […]

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The fear of Barcelona bankruptcy, the exit of Lionel Messi, the hope of the Super League and the debt of Liverpool

Tuesday’s Marca front-page headline could hardly have made it any clearer. WITHOUT FUNDS. Barcelona are, for lack of a better word, absolutely skinny. There is nothing there. Just an envelope where their finances were. The Catalan giants risk becoming the biggest name in football to fall foul of the pandemic as the impact of Covid-19 […]

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Some Whitehorse businesses fear COVID-19-related bankruptcy: poll

A survey commissioned by the Whitehorse Chamber of Commerce found that 55% of responding companies are afraid of taking on more debt due to the COVID-19 pandemic. The results represent only the companies that responded to the survey. It was conducted by Strategic Moves, an independent research-based consultancy based in Whitehorse between May 7 and […]

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South African Airways placed under bankruptcy protection

President Cyril Ramaphosa’s battle to rescue South Africa’s struggling state-owned enterprises reached a turning point on Thursday as the national airline, South African Airways, was forced to seek bankruptcy protection. SAA, which last made a profit in 2011, has been plagued by corruption and cronyism and has long relied on state bailouts to survive. As […]

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What’s going on with the bankruptcy of PG&E?

It has been almost a year since Pacific Gas & Electric Co. filed for bankruptcy. And time is running out for California’s largest utility to come up with a bankruptcy exit plan that will satisfy the key groups affected by its reorganization – shareholders, bondholders, employees, retirees, state officials and victims of fires linked to […]

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Aged care companies that lost wages file for bankruptcy

CONCORD — The operators of several Bay Area residential aged care sites have filed for bankruptcy following two unfavorable rulings that left the companies paying millions of dollars in unpaid wages to several employees. Welcome Home Senior Residences, Cardinal Care Management and S&S Investments, all led by Director of Residential Care Steve Chou, have filed […]

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Hornbeck Offshore Plans to File for Chapter 11 Bankruptcy Protection | Coronavirus

Covington-based Hornbeck Offshore Services Inc. plans to file for Chapter 11 bankruptcy protection soon. The shipping company told investors it plans to file prepackaged bankruptcy in the Southern District of Texas to reorganize the company. He recently reached agreements with creditors to forbear several different loans, which were largely due in April. “The company is […]

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Utica Shale Stalwart Gulfport Energy Files for Bankruptcy

Gulfport Energy Corp. filed for Chapter 11 bankruptcy on Friday, becoming the latest exploration and production (E&P) company this year to succumb to low commodity prices worsened by the Covid-19 pandemic. The company said it had the backing of 95% of its revolving credit facility lenders and other creditors holding more than two-thirds of its […]

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Shadow cloud gaming platform files for bankruptcy

Cloud gaming has become mainstream in recent years, with big players such as Google, Amazon and Microsoft joining NVIDIA and other early innovators in streaming PC games over the Internet. One of the more unusual companies operating in this space has been Shadow, a cloud gaming platform that launched internationally in 2018. Instead of letting […]

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Destin water park owners file for bankruptcy

DESTIN – The owners of well-known Destin water park filed for bankruptcy and sold the property earlier this year. The story about the situation was one of the News Herald’s most viewed stories of 2020. Apex Parks Group, which bought the Big Kahuna water and adventure park in 2014, announced in April that it had […]

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NHL player with BC ties Evander Kane files for bankruptcy claiming $27 million in debt – Revelstoke Review

San Jose Sharks left-winger Evander Kane, a former star player for the Vancouver Giants, has filed for bankruptcy, listing liabilities of nearly $30 million. First reported by The Athletic, Kane detailed liabilities of $26.8 million and assets – mostly three homes – of $10.2 million, according to his Chapter 7 filing in federal bankruptcy court […]

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Sizmek files for bankruptcy and faces an uncertain fate

Sizmek filed for bankruptcy Friday evening, ending the private equity-backed effort to integrate Sizmek and Rocket Fuel into a cohesive buy-side tech stack, and possibly ending the Sizmek brand. Sizmek’s bankruptcy filing estimates its assets at between $100 million and $500 million. Although his liabilities are in the same range. Sizmek’s four largest outstanding debts […]

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Puerto Rico Mounts Muni-Bond Rally to Bankruptcy Deal

By Andrew Scurria Puerto Rico moved closer to resolving the largest municipal debt default in U.S. history after creditors owed about $11.7 billion backed by a settlement framework, the largest backing of Wall Street to date for a restructuring of the main public debts of the territory. The proposed settlement released Tuesday would reduce about […]

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Dave & Buster’s threatens bankruptcy if debt isn’t renegotiated

Yes Dave and Buster Entertainment (NASDAQ: PLAY) is unable to get its lenders to agree to new terms on its debt, the entertainment-themed restaurant chain says it will seek bankruptcy protection from its creditors. Unlike many other restaurant chains, which survived the worst of the COVID-19 pandemic by rely on take-out and delivery, Dave & […]

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Latest Claire’s retailer to file for bankruptcy

Claire’s Stores is the latest victim of the drop in traffic in American malls. The retailer that caters to teenage girls with makeup, jewelry and ear piercings on Mondays deposit for Chapter 11 bankruptcy protection, saying it had an agreement with creditors to restructure about $1.9 billion in debt. The move brought Claire’s on the […]

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Pandemic Legal Information: Insolvency and Bankruptcy Laws – FAQ – Why, What, When and If? – Insolvency / Bankruptcy / Restructuring

To print this article, simply register or connect to Mondaq.com. PRELUDE The explosion of the Covid-19 pandemic in no way left India untouched. This pandemic not only affected human beings, but also drove the economy into the doldrums. The road to business lockdowns in India started off well with the onset of lockdowns in India. […]

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PG&E Breaks Another Barrier To Bankruptcy With Debt Refinancing

SAN FRANCISCO (AP) – A federal judge on Tuesday approved a settlement that brings Pacific Gas & Electric closer to bankruptcy, but the struggling utility still faces insurmountable obstacles facing the state of California. US bankruptcy judge Dennis Montali signed the agreement to refinance billions of dollars in debt to pay off holders of PG&E […]

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Dairy giant Borden files for bankruptcy protection

Borden, the dairy farmer founded a century and a half ago, has filed for Chapter 11 bankruptcy, the last victim an industry battered by falling prices, rising costs and changing tastes. The company, which is based in Dallas and reported sales of $ 1.18 billion in 2018, has tried to adjust to these unfavorable trends […]

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Sears arranges emergency financing for potential bankruptcy

Sears Fund has contacted banks in recent days to arrange the funding needed to file for bankruptcy after 125 years in business, people familiar with the situation told CNBC. The stock fell 32 percent, to 40 cents a share, in Wednesday’s trading ahead of the report’s release. The so-called “debtor-in-possession” loan, which businesses need to […]

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Seadrill files for Chapter 11 bankruptcy

Seadrill Ltd. and most of its subsidiaries have filed for Chapter 11 proceedings in the Southern District of Texas in connection with a balance sheet restructuring that will involve a debt / stock swap. The company noted the restructuring is likely to result in minimal or no payback for current shareholders, but will allow Seadrill […]

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A roadmap for Puerto Rico’s exit from bankruptcy filed in US court

SAN JUAN (Reuters) – Puerto Rico is reportedly reducing much of its debt by more than 60% in a long-awaited restructuring proposal that the bankrupt U.S. Commonwealth Financial Supervisory Board filed in court on Friday. People watch TV in a bar as Puerto Rico Governor Wanda Vazquez Garced delivers a speech regarding the debt restructuring […]

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Another chapter of the Bankruptcy Code?

The world of bankruptcy law has been divided into nine parts since the promulgation of the Bankruptcy Code in 1978. But is this number fixed by nature? Would there be ten? It would be like discovering another planet! But it can happen. We currently have nine chapters: Chapter 1: General provisions Chapter 3: Case administration […]

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Personal Perspective: Bankruptcy Law Changes Could Help Distressed Restaurants

Running a small restaurant or an independent restaurant has always been a challenge. Even in the best of times, tight margins and fixed expenses mean that many new restaurants never celebrate their first anniversary. Now, restrictions on on-site dining under stay-at-home orders instituted to fight the COVID-19 pandemic have evaporated the profits of many otherwise […]

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Virgin Australia airline seeks bankruptcy protection

CANBERRA, Australia (AP) – Virgo Australia, the country’s second-largest airline, announced on Tuesday that it had entered voluntary administration, seeking bankruptcy protection after a debt crisis worsened by the coronavirus the closure pushed him into insolvency. Virgin said in a statement to the Australian Securities Exchange that she had appointed a team of directors from […]

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Fresh out of bankruptcy, TooJay’s Deli seeks CEO

TooJay’s Deli, Inc., who applied for federal bankruptcy protection in April, is looking for a new CEO while Jim Ilaria, the former chef of Uno Pizzeria and Grill, is the interim chef, the chain said. TooyJay’s restructured its debt in September and operates 20 restaurants across Florida. It had 28 units when it declared bankruptcy. […]

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“We need the community to support us”: Bankruptcy Court Approves Springfield Hospital Network Plan | News

SPRINGFIELD, Vermont. – Springfield Medical Care Systems (SMCS) and Springfield Hospital have been cleared out of Chapter 11 bankruptcy after an 18-month process to adjust organizations’ debt and restore their healthcare operations to a fiscal management level. The U.S. Vermont District Bankruptcy Court on Thursday upheld Chapter 11 reorganization plans for the SMCS and Springfield […]