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May 17, 2021

bankruptcy

Judge dismisses NRA’s bankruptcy petition, allowing New York AG lawsuit to move forward

CNN
USA TODAY – For more and to sign up click here Tuesday’s decision means the NRA will not have bankruptcy protections, which it has said are needed to protect against a “barrage of litigation” the organization is facing. It also means that the NRA cannot reorganize in the state of......

U.S. judge tosses NRA bankruptcy bid, letting New York seek dissolution

Reuters
A federal judge in Dallas ruled on Tuesday that the National Rifle Association cannot use bankruptcy to reorganize in gun-friendly Texas, a serious blow to the gun rights group’s effort to avoid a lawsuit in New York seeking its dissolution. U.S. Bankruptcy Judge Harlin Hale said the NRA did not......

Barnes & Noble owner buys stationery retailer Paper Source out of bankruptcy

CNBC
CNBC – For more and to sign up click here The Paper Source store with its Easter display is shown closed on Boylston Street on April 08, 2020 in Boston, Massachusetts. Maddie Meyer | Getty Images News | Getty Images Elliott Investment Management, the owner of Barnes and Noble, said......

Life is Good almost filed for bankruptcy last year. Here’s what CEO says saved the retailer

CNBC
CNBC – For more and to sign up click here Life is Good was on the verge of filing for bankruptcy protection last year, according to its CEO, but the retailer managed to overhaul its business strategy in a matter of weeks to have its best year ever during the......

BHP, Vale Samarco JV files for Brazil bankruptcy protection

Reuters
FILE PHOTO: The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS/Adriano Machado/File Photo RIO DE JANEIRO (Reuters) – Samarco Mineracao SA, a joint venture between Brazilian miner Vale SA and BHP Group Ltd, has filed for bankruptcy protection to prevent creditors’......

LaPierre says he did not tell NRA leaders before filing for bankruptcy

TheHill
USA TODAY – For more and to sign up click here Lexi Lonas The National Rifle Association’s top executive Wayne LaPierre said in court on Wednesday that he did not tell top NRA officials before filing for Chapter 11 bankruptcy.  While LaPierre said he consulted the three-member special litigation committee of......

Why Banks Will Move Quickly to Sell Distressed Debt

@BreaknNews
   Andrew Van Tuyle LOS ANGELES – April 7, 2021 – — So far, the COVID-19 pandemic hasn’t spawned the waves of property distress that were initially predicted.  However, once lenders can pursue remedies, Andrew Van Tuyle, senior managing director of investments for BH Properties, expects the floodgates to open......

Purdue bankruptcy presents opportunity to fund opioid abatement effort

USA Today
USA TODAY – For more and to sign up click here USA TODAY Eighteen months to the day since Purdue Pharma filed for bankruptcy, the company has submitted a plan of reorganization that would deliver to communities and individuals more than $10 billion in value, including 100% of the company’s assets and......

AstraZenica Vaccine, Purdue Pharma Bankruptcy, Capitol Riot Arrests : Up First

NPR
NPR Portugal joins a growing number of European countries to temporarily suspend use of the AstraZenica vaccine. Opioid maker Purdue Pharma has filed for bankruptcy with a plan to dissolve the company. And, two men have been arrested for assaulting Capitol Police Officer Brian Sicknick, who died of his injuries......

China to put financial institution bankruptcy laws on legislative agenda

Reuters
BEIJING (Reuters) – China will put financial institution bankruptcy laws on its legislative agenda for the first time, according to a report by the top legislative body released on Monday. The absence of a legal bankruptcy framework for Chinese financial institutions has prevented technically insolvent firms from exiting the market......

Chesapeake Energy emerges from bankruptcy and shifts back to natural gas

Reuters
HOUSTON (Reuters) – U.S. shale producer Chesapeake Energy Corp on Tuesday exited Chapter 11 bankruptcy with business plan that nods to its founders’ emphasis on natural gas after a recent push into crude oil. FILE PHOTO: Chesapeake Energy Corporation’s 50 acre campus is seen in Oklahoma City, Oklahoma, on April......

Cici’s files for bankruptcy as pandemic accelerates the decline of the all-you-can-eat buffet

CNBC
CNBC – For more and to sign up click here A Cici’s Pizza restaurant in Buena Vista, Florida. John Greim | LightRocket | Getty Images Buffet chain Cici’s has filed for Chapter 11 bankruptcy protection and announced its sale to D&G Investors, its primary lender. While the coronavirus pandemic has......

Belk’s top lenders, including KKR, looking to avoid taking department store through bankruptcy, WSJ says

CNBC
CNBC – For more and to sign up click here Belk department store John Greim | LightRocket | Getty Images KKR, Blackstone and other major lenders to Belk are in talks with the North Carolina-based department store chain to keep it out of bankruptcy, according to a Wall Street Journal......

DHFL creditors vote in favour of Piramal’s $5 billion bid – source

Reuters
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai, India, January 31, 2019. REUTERS/Francis Mascarenhas/Files MUMBAI (Reuters) – Creditors of India’s Dewan Housing Finance Corp have voted in favour of a 372.5 billion rupees ($5.09 billion)takeover bid submitted......

NRA files for bankruptcy, says it will reincorporate in Texas

CNBC
CNBC – For more and to sign up click here Guns are displayed inside a store on June 17, 2016 in Lake Barrington, Illinois. Scott Olson | Getty Images WASHINGTON – The National Rifle Association said Friday that it has filed for bankruptcy as part of a larger restructuring plan aimed......

J.C. Penney’s retail and operating assets to exit Chapter 11

Reuters
FILE PHOTO: A customer enters a JC Penney Co store in Westminster, Colorado, U.S. August 14, 2008. REUTERS/Rick Wilking/File Photo (Reuters) – J.C. Penney Co Inc said on Monday its retail and operating assets would exit Chapter 11 as two of its biggest landlords, Simon Property Group and Brookfield Asset......

Japan’s ramen bars struggle to stay open as COVID hammers small firms

Reuters
TOKYO (Reuters) – Sixty-year-old Yashiro Haga is folding his Tokyo noodle ramen shop after 15 years in December, unable to overcome the prospect of a lasting customer slump due to the coronavirus crisis. Sixty-year-old Yashiro Haga serves ramen at his noodle shop ‘Shirohachi’, amid the coronavirus disease (COVID-19) outbreak, in......

Friendly’s files for bankruptcy, enters sales agreement

FoodBusinessNews
WILBRAHAM, MASS. — Amici Partners Group has agreed to acquire virtually all the assets of FIC Restaurants Inc., which operates under the brand name Friendly’s Restaurants. The sandwich, burger and ice cream chain filed for Chapter 11 bankruptcy relief on Nov. 1 to facilitate the sale. The deal is expected......

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