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How to Obtain a Personal Loan to Cover Legal Expenses

How to Obtain a Personal Loan to Cover Legal Expenses

Legal costs can become complicated. There are numerous kinds, and they can rapidly add up. Although every case is unique, however, many people end up paying thousands of dollars to hire an attorney. For instance, the legal defense cost for the case of a DUI rapidly climbs up to $8,000. A collaborative divorce could …

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Takeover: Chinese firm to manage Laos power grid despite default warnings

VIENTIANE: Laos is set to hand over majority control of its power grid to a Chinese company, as it struggles to avoid a possible default, people with direct knowledge of the deal have said. The deal comes at a time when critics accuse Beijing of ‘debt-trap diplomacy’ to gain strategic …

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Akin Gump Partner Hired as SDNY Bankruptcy Judge

By Steven Lerner (February 5, 2021, 4:23 PM EST) – A partner in the financial restructuring group of Akin Gump Strauss Hauer & Feld LLP has been appointed as the United States Bankruptcy Judge for the Southern District of New York. The Second Circuit Court of Appeals announced Friday that …

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Coronavirus in Texas: Gold’s Gym files for bankruptcy

*Correction attached Tuesday’s biggest developments: Texas reports 1,037 new cases, 22 more deaths Gold’s Gym files for bankruptcy Courts can resume in-person proceedings on June 1, but not jury trials Govt. Greg Abbott plans to discuss Texas’ coronavirus response with Trump Galveston County judge asks Abbott to freeze property assessments …

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GNC closes up to 1,200 stores under bankruptcy plan

Health and wellness company GNC plans to close hundreds of stores across the country as part of its Chapter 11 bankruptcy plan. WASHINGTON – GNC Holdings Inc., the parent company of healthcare retailer GNC, filed for Chapter 11 bankruptcy protection late Tuesday evening. The company said it plans to permanently …

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No company is filing for bankruptcy yet in PH – DOLE

MANILA, Philippines – A number of businesses around the world have filed for bankruptcy following the coronavirus disease (COVID-19) pandemic. Fortunately in the Philippines, no business has filed for bankruptcy even after more than two months of community quarantine, according to Labor Secretary Silvestre Bello III, although several businesses have …

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Insolvency filings fall at record pace as consumers and businesses cling to government support

According to data from the Office of the Superintendent of Bankruptcy (OSB) released Wednesday, fewer Canadian consumers and businesses filed for insolvency during the height of the pandemic-induced economic shutdown compared to the first three months of 2020 and at the same time a year ago. . The number of …

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Age-old arms maker Remington files for bankruptcy as sales slow

Remington Outdoor, one of the oldest firearms makers in the United States, filed for bankruptcy protection on Sunday amid mounting debt and falling sales. The arms manufacturer said last month that it was near a bankruptcy filing, which he did Sunday in federal bankruptcy court in Delaware. In its Chapter …

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Longtime Local Homebuilder Paul Estridge Jr. Retires – Indianapolis Business Journal

Paul Estridge Jr. is stepping down from the day-to-day operations of Carmel-based Estridge Homes LLC, although he remains the owner of the business. (IBJ Photo/Eric Learned) One of central Indiana’s best-known and most prolific home builders, Paul Estridge Jr., has hung up his hammer, after nearly 40 years in the …

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The state of the Greek economy and affairs

The Greek economy and its businesses have gone through extremely difficult times over the past decade, mainly due to ineffective long-term government economic policies. 2020 was to be a year of significant economic growth. Instead, it faced a severe COVID-19-related recession. Now, we predict that 2021-2022 will be the period …

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Revlon warns of possible bankruptcy reorganization if bond swap fails

Revlon Inc. warned bondholders of the substantial risk of a bankruptcy restructuring if they do not participate in a proposed debt swap. The New York-based company, which has struggled throughout the coronavirus pandemic, been trying for months to exchange more than $340 million in bonds maturing in February at a …

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HopCat and BarFly Ventures file for bankruptcy

GRAND RAPIDS, MI — Barfly Ventures, the parent company of HopCat, Stella’s Lounge and Grand Rapids Brewing Co., has filed for bankruptcy to restructure its debt and better position the company for long-term growth. Mark Sellers, the company’s founder and chairmen of its board of directors, said the company’s debt, …

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West Michigan brewery files for bankruptcy after closing

SPRING LAKE TOWNSHIP, MI — Dutch Girl Brewery had been in operation for less than two years before abruptly closing in March. Less than two months later, on Tuesday, May 2, the company filed for Chapter 7 bankruptcy in the Western District of Michigan Bankruptcy Court. The filing cited more …

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FTS International Announces Successful Confirmation of Reorganization Plan

FORT WORTH, Texas–(BUSINESS WIRE)–FTS International, Inc. (NYSE American: FTSI) (“FTSI” or the “Company”), today announced that the United States Bankruptcy Court for the Southern District of Texas, Division of Houston, has confirmed its plan pre-packaged reorganization (the “Confirmed Plan”). Under the terms of the confirmed plan, which was approved at …

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California Pizza Kitchen exits Chapter 11 protection

Photography: Shutterstock California Pizza Kitchen (CPK) says it emerged from Chapter 11 bankruptcy protection with $220 million less debt and no loan obligations coming due in the short term. Earlier revelations from the casual dining chain say the court-approved reorganization plan leaves the brand $177 million in borrowed capital for …

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Capital gains tax is on the table to fix New Zealand’s broken property market, IMF says

The International Monetary Fund has said a capital gains tax or CGT is one of the things the government could consider using to regain control of the housing market. He warned the the housing market was vulnerable to a “pronounced correction”, which would tip the economy. The IMF is an …

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Bankruptcies Accelerate in North American Oil Fields, with More Carnage Likely

Bankruptcies in the North American oil sector “have accelerated significantly” so far in 2020, largely due to the impact of Covid-19 on prices and demand, according to a new report published Tuesday by Haynes and Boone LLP. The Dallas-based international business law firm has been tracking bankruptcy filings in the …

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Tesla may avoid bankruptcy, but it will still need $1 billion in cash

You’re here (TSLA) CEO Elon Musk should keep the phone line open with his banker buddies. “We believe Tesla will need to raise an additional $1 billion in capital,” Wedbush analyst Dan Ives told Yahoo Finance’s “On the Move.” The old Tesla super bull cut its share price target again …

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Maryland vs. Illinois Men’s Basketball No. 12: How to watch and what to watch

Opponent: No. 12 Illinois Fighting Illini (9-3, 5-1 Big Ten) Location: State Farm Center, Champaign, Illinois Trick: 8:00 a.m. EST, Sunday, January 10 Last match: February 7, 2020 — Maryland 75-66 Last match:Maryland lost to Iowa 89-67; Illinois defeated Northwestern 81-56 Line: Illinois -9.5 per OddsShark TV: Big Ten Network: …

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Muji USA Files for Chapter 11 Bankruptcy Protection

The U.S. branch of Japanese homewares chain Muji, owned by Ryohin Keikaku, recently filed for bankruptcy, after it was unable to weather the impact of the COVID-19 pandemic that hit it. forced her to close stores while continuing to pay high rents for her retail business. Locations. Muji USA listed …

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The founder of Poo-Pourri Nets, a fortune of 240 million dollars after two bankruptcies

You have surely seen the online videos of Poo-Pourri, the toilet spray. They feature a stilted, proper, red-haired English woman wearing a blue dress and chatting about poo, as she did in the now-famous 2013 online video “Girls Don’t Poop.” This video, and others from the company, have been viewed …

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The bankrupt Costa Hollywood Beach Resort could be put up for auction

Costa Hollywood Beach Resort, Madison Realty Capital Josh Zegen A struggling Hollywood Beach condo hotel could be heading to an auction, where its lender could acquire the property for $43 million. The Costa Hollywood Beach Resort filed for Chapter 11 bankruptcy protection in September, five months after its lender, Madison …

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Perry Lamb says bankruptcy groomed him for commissioner

LaFAYETTE, Ga. — The threat came in the mail, a letter that changed Perry Lamb’s life. A lawyer from the mortgage company arrived, after months of waiting for money. Other companies also wanted their payments. Lamb was overworked, he says now, and unlucky – he had pursued his dream at …

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Hartford must restructure debt to get state help to avoid bankruptcy

House Majority Leader Matt Ritter, D-Hartford File photo Keith M. Phaneuf / CTMirror.org Hartford would have to restructure its debt to get the state help needed to avoid bankruptcy, according to sources close to the state’s tentative budget deal. But Connecticut would also guarantee a major repayment of the city’s …

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UPDATE 1-Norwegian Air seeks bankruptcy protection under Irish law

(Add quotes, background) OSLO, Nov 18 (Reuters) – Norwegian Air has asked an Irish court to oversee a massive debt restructuring as it seeks to avoid collapse amid the coronavirus pandemic, the airline said on Wednesday. On November 9, the Norwegian government rejected the airline’s appeal for a further injection …

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Svenhards files for Chapter 11 bankruptcy

Svenhard cites $10-50 million owed to creditors, cites $1-10 million in assets in bankruptcy filings By Paul Myer EXETER – Svenhards officially filed for bankruptcy last month, causing spelling problems for the Central Valley bakery company. On Dec. 19, the company filed for Chapter 11 bankruptcy, citing between $10 million …

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Bankrupt Intelsat files restructuring plan to halve debt

(Bloomberg) – Intelsat SA, the bankrupt satellite company, has reached an agreement with some of its creditors on a plan that would give ownership to debenture holders and cut its debt load in half. The McLean, Va.-based company has filed a plan to reduce its debt to $7 billion. The …

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Triple Five faces big problems with Covid-19, but analysts say not to call it off

With Covid-19 keeping millions of consumers out of malls and malls, much of the news about Triple Five Group, one of North America’s largest private retail real estate owners, has been grim. In June, Mall of America was 60 days behind on its $1.4 billion mortgage and was negotiating with …

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second wave of restaurant chain bankruptcy filings could offer new opportunities | modern restaurant management

Anyone who’s worked the back of the house at a popular restaurant knows how chaotic the kitchen can feel during a restaurant rush hour – knives, spoons and spatulas swinging around, glassware flying, line cooks and sous chefs furiously raising food and sending it. The same intensity will also mark …

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2016 dog attack puts Aspen out of business four years later

The legal backlash of a dog attack on a woman over four years ago, put an Aspen company out of business and out of business this week. Ajax Technology filed Chapter 7 in U.S. Bankruptcy Court in Denver on Tuesday to avoid a $369,948 judgment it owes an Aspen woman …

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Lucky Brand files for bankruptcy after pandemic forces closures

(Bloomberg)—Lucky Brand Dungarees LLC and its subsidiaries, known for their jeans and other apparel, filed for bankruptcy in Delaware after the coronavirus pandemic scuttled restructuring efforts. The lucky mark is No. 625 in the 2020 Digital Commerce 360 ​​Top 1000. The private company has entered into an asset purchase agreement …

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Thai Airways restructuring approved by court

A Bangkok bankruptcy court has given the green light to Thai Airways to go ahead and restructure the airline. Similar to the Chapter 11 process in the United States, insolvency experts will try to get the struggling airline out of its financial difficulties. But with $11 billion in debt and …

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Driller Noble files for bankruptcy to clear huge debt

Noble Corp., the offshore drilling contractor, has filed for bankruptcy with a plan to reduce debt by more than $3.4 billion after crashing crude prices made oil wells underwater too Dear. Filing for Chapter 11 in Texas would eliminate all bond borrowing from the company by swapping debt for stock, …

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Hertz reportedly in talks with creditors on how to avoid bankruptcy

Hertz is in a critical financial situation and is preparing for the worst. The Estero, Florida-based car rental company is currently discussing with some of its creditors how to rework its debt, but negotiations have reportedly been difficult. According to a new report from Bloombergciting “people knowledgeable about the subject”. …

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Considerations that weigh heavily on the small business debtor

The Small Business Reorganization Act (SBRA), also known as “Subchapter V” of the Bankruptcy Code, went into effect on February 19, 2020. To see 11 USC §1181 et seq. The SBRA is one of the most significant changes to the Bankruptcy Code since the enactment of the Bankruptcy Abuse Prevention …

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ESPN’s ‘broken’ barely scratched the surface of athlete bankruptcy discussion | Launderer’s report

Kevin Winter/Getty Images If ESPN’s latest “30 for 30” documentary, Broken, was supposed to change anything about how people view bankruptcy in athletes, it was awfully short. It’s nothing against ESPN for wanting to highlight the issues. Billy Corben did an incredible job, and Tuesday night was certainly a feather …

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California Pizza Kitchen files for bankruptcy

California Pizza Kitchen executives hope a new financial restructuring agreement will help the company recover from losses caused by the coronavirus pandemic in recent months. Thursday, the company announced that he filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. Under a new …

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Don’t Be Late – Filing Proofs of Claim in Bankruptcy

When a creditor is notified that a debtor has declared bankruptcy, the creditor should take care to determine whether they should file a proof of claim in the case in order to preserve their rights to receive payments from the bankrupt’s estate. This article reviews the importance for a creditor …

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Why you need to stop posting Breonna Taylor death memes

Breonna Taylor was a 26-year-old black woman from Louisville, Ky., who was killed by police after entering her home with a no-knock warrant and mistaking her for a suspect in an alleged drug ring . As she slept, Louisville police shot her at least eight times, unleashing a hail of …

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Hertz files for bankruptcy, stunning US automakers as executives scramble to find solutions

Car rental companies are feeling the symptoms of coronavirus. Getty Late last night, Hertz (NYSE: HTZ) filed for bankruptcy. The restructuring sent shockwaves through the US auto industry, according to CNN. What drives the decision? Reduced air travel. The TSA reports that domestic flights are down 94%. Due to the …

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Norwegian Air says dispute with Boeing will be settled in US court

DUBLIN (Reuters) – Norwegian Air expects its dispute with Boeing over the cancellation of orders for 97 aircraft to be settled in U.S. court proceedings and not in an Irish restructuring process, an airline attorney said Friday. FILE PHOTO: Norwegian Air Sweden’s SE-RRY Boeing 737-800 plane approaches Riga International Airport …

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Fraud and asset tracing against HMRC

Click here to watch the video. PREVIEW XL Insurance Company SE v (1) IPORS Underwriting Limited; (2) Paul Alan Corcoran; (3) Cheshire Prestigious Cars Limited and (4) Her Majesty’s Revenue and Customs [2021] EWHC 474 (Comm) Al Capone once said: “The income tax law is a load of nonsense. The …

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IBBI offers 2 steps to speed up the business liquidation process

The companies’ liquidation process may not be unduly delayed in the coming days if insolvency regulator IBBI has its way. On the anvil, there are two steps – allowing the liquidator to allocate “not readily realizable assets” (NRRA) through public auctions to third parties and allowing creditors to transfer or …

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CEO Who Profited From Hi-Crush Spiral Leaves As Company Emerges From Bankruptcy

Reuters Robert Rasmus, the founder of oil services company Hi-Crush Inc, which profited from the company’s bankruptcy, lost his positions with the company during a recent restructuring, according to publications of the business. Rasmus was replaced as CEO last month by Dirk Hallen, a former chief executive of oil company …

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Brazil’s Odebrecht files for bankruptcy after years of corruption probes

SAO PAULO (Reuters) – Brazilian conglomerate Odebrecht SA filed for bankruptcy protection on Monday, seeking to restructure 51 billion reais ($13 billion) of debt in what would be one of the largest debt restructurings to courts in Latin America. FILE PHOTO: The corporate logo of Odebrecht is seen inside one …

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Retail rout gathers pace, Lord & Taylor seeks bankruptcy

Lord & Taylor is filing for bankruptcy protection, as are the owner of Men’s Wearhouse and Jos ByThe Associated Press August 3, 2020, 12:45 PM • 2 minute read Share on FacebookShare on TwitterEmail this article NEW YORK — Lord & Taylor, America’s oldest retailer, is filing for bankruptcy protection, …

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Intelsat files for bankruptcy because 5G couldn’t save it

Text size Intelsat 35th launch Courtesy of Intelsat Intelsat filed for debt restructuring of around $15 billion, ending a controversial chapter in the US 5G saga. The satellite operator filed for chapter 11 bankruptcy late Wednesday, and secured $1 billion in debtor-in-possession financing to help pay for operations during its …

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US distribution giant Guitar Center reportedly preparing to file for bankruptcy this weekend

US retail giant Guitar Center is reportedly preparing to file for Chapter 11 bankruptcy this weekend. As reported by Bloomberg, the chain and its private equity owner Ares Management are finalizing bankruptcy terms with the support of most of its creditors. That could lead to the company filing for pre-packaged …

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The famous Providence restaurant, Gracie, files for bankruptcy; plans to reopen

PROVIDENCE, RI (WPRI) — One of Providence’s best-known restaurants has filed for bankruptcy as restrictions related to the coronavirus pandemic weigh heavily on one of the capital’s most important industries. Court documents show that Gracie’s Ventures Inc., the parent company of Gracie’s on Washington Street as well as neighboring café …

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Manolo Blahnik files for bankruptcy against former US partner – Trade Observer

famous shoe brand Manolo Blahnik filed an involuntary complaint bankruptcy petition versus his U.S. partner over $600,000 in unpaid goods, Commercial Observer has learned. Calzaturificio Re Marcelloitalian cobbler belonging to Blahnikfiled the chapter 7 involuntary petition versus Manolo BlahnikUSAwhich is owned by the retailer’s long-time partner, George Malkemus III. The …

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Liquidation of a business and filing for bankruptcy in the UAE

the UAE Bankruptcy Law has recently seen a change. In the past, insolvencies required companies in the UAE to consensually restructure a debtor’s debts. In addition, largely untested legislation previously pushed companies and their partners into moderate insolvencies due to limiting procedures. The new bankruptcy law is a game-changer, bringing …

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Westchester County’s largest hotel project in 20 years files for bankruptcy

D’Wayne Prieto and 115 Cedar Street in New Rochelle (Linkedin, Google Maps) UPDATE, September 21, 10:18 a.m.: A hotel project seen as a catalyst for the revitalization of downtown New Rochelle just filed for Chapter 11 bankruptcy. A company, WP Realty Acquisition III, linked to a luxury Wyndham hotel planned …

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Omar reintroduces bill to cancel rent and mortgage payments during pandemic

Rep. Ilhan Omar (D-Minn.) introduced a bill Thursday for the second time that would ensure full exemption from paying rent and mortgage payments throughout the coronavirus pandemic. Under the bill, titled the Rent and Mortgage Cancellation Actthere would be no accumulation of debt for tenants or landlords, as well as …

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Justice Department Blocks ‘Essential’ Marijuana Workers From Bankruptcy Protection

The Department of Justice is blocking struggling cannabis companies and their employees from going bankrupt to deal with the coronavirus-related downturn, even in states that determine medical marijuana to be an essential industry during the pandemic. Department policy means the financial safety net that bankruptcy offers consumers who fall behind …

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Increase in farm debt and bankruptcies

The year 2019 stands out for farmers for all the wrong reasons. Late sowing followed by a wet autumn made harvesting difficult. Nationally, farm bankruptcies are on the rise, and there are concerns that they will continue this trend after a difficult year. But North Dakota might be the anomaly. …

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J. Crew hides in Richmond Bankruptcy Court

A J.Crew store. (Courtesy of Wiki Commons) With much of Richmond’s economy remaining in coronavirus limbo, local business bankruptcy lawyers were cast a big fish Monday – and it’s a gift that will continue to be given for the foreseeable future. . J. Crew, the New York-based national clothing retailer …

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FERC Appeals Chap. 11 Plan Abandonment Pipeline Offers Would Be Accepted

By Morgan Conley (January 7, 2021, 5:45 PM EST) – Federal Energy Regulatory Commission opposes approval of Extraction Oil & Gas’s Chapter 11 plan that allowed the company to drop contracts to pipeline, just weeks after opposing the Delaware bankruptcy court’s power to rule over FERC-approved transactions without regulator approval. …

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JCPenney goes bankrupt after decades of struggling to reinvent itself

JCPenney has closed nearly 200 locations in the past five years, including this one in Roanoke … [+] Rapids, North Carolina. However, it still has a sprawling fleet of 850 stores. ANDREW CABALLERO-REYNOLDS/AFP via Getty Images JCPenney has filed for bankruptcy, pushed to the brink by a pandemic that has …

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North Carolina Commercial Receivership Law: What Creditors Need to Know About the New Law

December 30, 2020 The law, led by the Bankruptcy Section of the North Carolina Bar Association, takes effect Jan. 1, 2021, and provides North Carolina creditors with a stronger and more current remedy in the event of a receivership. What is a receivership? A receivership is a …

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Retail has been on life support – coronavirus could pull the plug

With hundreds of thousands of stores closed across the country, the coronavirus pandemic is accelerating dramatic changes in the retail industry that were underway long before the viral outbreak hit the United States, analysts say. . “Retail has been on life support,” said Ian Ross, director of commercial property investment …

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Pandemic is killing America’s favorite workwear brands: list

A Ralph Lauren store in the Georgetown neighborhood on June 2, 2020 in Washington, DC OLIVIER DOULIERY/AFP via Getty Images In the middle of 2020, a year like no other, the devastating coronavirus pandemic has forced dozens of clothing retailers bankrupt. Brands that sell clothes aimed at office workers have …

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Why States Can’t Go Bankrupt

Comments by Senate Majority Leader Mitch McConnell suggesting he would let states go bankrupt have sparked a firestorm of controversy. The coronavirus pandemic has wreaked havoc on state economies, depriving states of needed revenue from sales and income taxes. Legal experts say states aren’t allowed to file for bankruptcy, but …

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Year-round bankruptcy filings to block UCC sale of Denizen Bushwick to Brooklyn – Trade Observer

Yoel Goldmanit’s Year round management filed for Chapter 11 bankruptcy in an effort to avoid a Uniform Commercial Code (UCC) foreclosure sale on its mega-housing development in Brooklyn Denizen Bushwickaccording to a filing filed late yesterday in the United States District Court for the Southern District of New York. The …

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Fixed-rent leases protected in the event of bankruptcy

In a ruling with implications for millions of renters, New York state’s highest court ruled Thursday that a lease for a rent-regulated apartment is public property and cannot be seized as an asset in a personal bankruptcy. In a 5-2 vote, the Court of Appeals ruled that a stabilized rent …

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Paddle8 bankruptcy proceedings take a heated turn with allegations of ‘reckless’ leadership and ‘disloyalty’ + other news

Art Industry News is a daily summary of the most important developments in the art world and the art market. Here’s what you need to know on Monday, September 28. NEED TO READ Museum administrator defends Guston’s delay – Ford Foundation President Darren Walker, who sits on the board of …

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Are gas royalty owners buyers or sellers? In a legal battle over royalties, the answer to this question could make all the difference for landowners

State AG says drillers have greater bargaining power. Companies say consumer protection law doesn’t cover someone selling drilling rights Rachel McDevitt Rachel McDevitt is a reporter for StateImpact Pennsylvania at WITF. Rachel joined WITF in 2017 as the host of All Things …

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Puerto Rico files for largest US municipal bankruptcy

Puerto Rico has filed for bankruptcy. It is the largest municipal bankruptcy filing ever recorded in the United States. Puerto Rico currently owes its creditors a huge $70 billionmuch higher than Detroit’s Bankruptcy of 18 billion dollars in 2013. “Given the deficit we inherited, it is my responsibility to ensure …

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Guitar Center to file for bankruptcy after announcing deal to reduce debt

Guitar Center, Inc.the global leader in the distribution of musical instruments, today announced that it has entered into a comprehensive restructuring support agreement (the “RSA”) with its key stakeholders, including its sponsor, a fund managed by the group investment capital of Management company Aresnew capital investors Brigade Capital Management and …

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Big Changes for Small Businesses Coming in Chapter 11 Bankruptcy | Lowndes

In the coming weeks, the Small Business Reorganization Act (the “SBRA”) will come into effect. As part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 – the most significant large-scale amendment to the bankruptcy code since its enactment – Congress amended the bankruptcy code to define certain …

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AMC Theaters Could Benefit From Bankruptcy Suggestions From Box Office Analysts

It’s no secret that 2020 has been terrible for movie theaters. AMC Theaters, the largest chain in the United States, has been on the verge of bankruptcy for months as the box office remains minimal. But, according to several analysts, the bankruptcy could prove beneficial for the company in the …

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Muji is the latest retailer to file for bankruptcy

Muji, which sells minimalist home decor, stationery and clothing, filed for Chapter 11 bankruptcy in Delaware on Thursday. The company plans to use the process to emerge with a renewed focus on online sales. “Muji has felt the devastating effects of the Covid-19 pandemic on in-store retail and, therefore, will …

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Greece may have to sell some of its islands, ancient ruins to pay its debt

Job : Jul 14, 2015 / 9:38 a.m. CDT / Update: Jul 14, 2015 / 9:38 a.m. CDT Old church of Oia with beautiful view of caldera and sea volcano on June 30, 2015 in Santorini, Greece. (Photo by Athanasios Gioumpasis/Getty Images) This is an archived article and the information …

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Bob’s big bet: the takeover of Lehman Brothers by Barclays 10 years later

When two days after Lehman Brothers filed for bankruptcy, Barclays announced it was buying the collapsed bank’s U.S. investment banking and capital markets businesses for just $250 million, the deal was widely considered like a coup. Bob Diamond, who had spent a decade transforming Barclays’ sleepy BZW investment bank into …

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Gabriel’s Liquor alleges state is blocking deal with Walmart

The owners of Gabriel’s Liquor and Don & Ben’s Liquor allege in a lawsuit filed this week in bankruptcy court that the state is blocking their efforts to sell stock in the company to Walmart – or any other publicly traded company. The dispute centers on a section of state …

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President Biden did not show strength by bombing Syria or on MBS. He made America look weak.

Some American traditions really need to die. Like Tom Brady (almost) still winning the Super Bowl. Or, perhaps more importantly, our crazy but deeply rooted idea that a new American president gains his wings the first time he drops bombs on the Middle East or South Asia, just like the …

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Covid led to a spike in business bankruptcies in 2020

The Covid-19 pandemic has led to a surge in bankruptcies among medium and large American companies. In 2020, 244 U.S. companies with liabilities exceeding $50 million filed for bankruptcy. That’s a nearly 70% increase from 144 filings in 2019, and the most since 2009, when 293 U.S. companies filed for …

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How Atlantic City Celebrated the Trump Plaza Implosion

With a bang: the beginning of the end of Trump Plaza in Atlantic City.Will Yakowicz A Minutes after 9 a.m. on a bitterly cold Tuesday morning on the boardwalk in Atlantic City, New Jersey, a car horn sounded and a flock of seagulls perched on the former Trump Plaza Hotel …

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LATAM Airlines Proposes New $2.45 Billion Financing Deal to US Bankruptcy Court

By Fabien Cambero, Aislinn Laing SANTIAGO, Sept 17 (Reuters) – LATAM Airlines has submitted a new $2.45 billion financing proposal amid its U.S. bankruptcy protection process, replacing a debtor-in-possession loan proposal that prompted the judge to reject the original plan earlier this month. LATAM, Latin America’s largest airline group, told …

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Calgary International Airport falls under the weight of $2.9 billion in debt

Breadcrumb Links Local company Business The project has made YYC one of the most indebted airports in Canada Publication date : Jul 09, 2020 • July 9, 2020 • 5 minute read • 21 comments The international terminal at Calgary International Airport was nearly deserted amid the COVID-19 pandemic on …

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The Washington Post fact-checked Bernie Sanders. It went wrong

Medical debt is a major factor in personal bankruptcy. It is a fact that Bernie Sanders highlights on the stump in support of his Medicare for All proposal. Sanders, who likes statistics more than stories, drives home the point with a big number. “500,000 people go bankrupt every year because …

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Bruno Mars crashes the big rap party at the Grammys

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. NEW YORK — The Grammy Awards looked set to make this year a triumphant year for rap at the …

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First arguments heard in developer’s disputed bankruptcy

A creditor of a former Northwestern Arkansas real estate developer and his wife argued in Dallas bankruptcy court on Monday that the couple hid assets in an effort to obstruct, delay and defraud their creditors. On the first day of the trial of Bill Schwyhart and his wife Carolyn, the …

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Do the Bankruptcy Figures Show the Overall Picture of the Farm Economy? | 2019-03-05 | Agri Pulse

Chapter 12 farm bankruptcies have reached heights not seen in a decade in some states, sparking alarms as some wonder if the farm economy could be heading for a crisis similar to the one that occurred in the 1980s. A closer look at the numbers tells a different story. Farm …

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The Family Farmer Assistance Act of 2019: Will raising the debt limit lead to increased Chapter 12 filings? | Bradley Arant Boult Cummings LLP

The United States Senate passed the “Support for Family Farmers Act 2019(HR 2336), which significantly increases the debt limit for agricultural producers seeking relief under Chapter 12 of the United States Bankruptcy Code. The bipartisan legislation, which passed the U.S. House of Representatives in June and is expected to be …

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U.S. bankruptcy filings hit 35-year low on government pandemic relief

WASHINGTON (Reuters) – U.S. bankruptcy filings for 2020 hit their lowest level since 1986 as a flood of government support programs at least temporarily offset the brunt of the coronavirus pandemic and a related recession, a reported Epiq AACER on Friday. The compilation of company bankruptcy cases showed Chapter 11 …

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Wave of bankruptcies under construction, driven by the pandemic

As the federal government shapes the next round of economic relief, families and businesses are trying to figure out what it will take to get through this crisis. Some companies are already looking to bankruptcy to give them the time and flexibility to reorganize and reset. Many people will probably …

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AMC’s pandemic survival is boosted by commercial mania

Shares of the cinema chain catapulted 300% on Wednesday as frenzied retail traders bet on AMC as the next meme stock, cheered by posters on the Reddit forum WallStreetBets where rookie investors gathered to s encourage each other to fuel GameStop Corp’s dizzying rally. . “AMC is clearly next,” wrote …

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Joe Biden seeks forgiveness of student loans and changes to Medicare

Presumptive Democratic presidential nominee Joe Biden released a new plan on Thursday to cancel and eliminate student loan debt for millions of student borrowers. According to Forbes, Biden’s plan would forgive all undergraduate federal student loan debt for borrowers who attended public colleges and universities, historically black colleges and universities, …

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Seadrill files for bankruptcy protection again

Offshore drilling rig contractor Seadrill has filed for bankruptcy in a court in the US state of Texas, it said on Wednesday, the second time in four years that the company has started a so-called Chapter 11 restructuring. The Oslo-listed group controlled by Norwegian-born billionaire John Fredriksen went back to …

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South African Denel does not plan to seek further bailouts

Through alexander winner, Joe Bavier * A state-owned arms company grappling with a liquidity crunch * Facing large debt maturities next month * Acting CEO says there’s no need to protect against bankruptcy *Hopes to close equity partnerships by April JOHANNESBURG, Aug 27 (Reuters) – South African public defense firm …

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NRA bankruptcy shows high cost of betrayal

Amid litigation, investigations and the threat of disbandment, the NRA’s most serious threat may be outcast members like Mike Chapdelain. From a small shooting sports group to one of the most powerful lobbying groups in the country, the association has risen to power through its huge grassroots base. As gun …

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Wirecard Files for Insolvency – The New York Times

Wirecard, the struggling German company that has become embroiled in a scandal over a $2.1 billion shortfall, said on Thursday it would file for insolvency. The electronic payments company said the “imminent insolvency and over-indebtedness” forced it to file a request for the initiation of legal proceedings in Munich to …

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Revlon avoids bankruptcy with $236 million debt swap deal

By Elise Hansen (November 12, 2020, 11:32 AM EST) — Cosmetics company Revlon said Thursday it avoided bankruptcy proceedings by reaching a $236 million debt swap agreement with holders of obligations. Revlon Inc. said bondholders have agreed to deliver about $236 million in principal of bonds due in 2021, or …

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J Crew goes bankrupt, weighed down by $2 billion in debt

American fashion retail icon J Crew has collapsed under the weight of $2 billion in debt and with all 492 stores closed due to the Covid-19 outbreak. The company, founded in 1947, entered Chapter 11 bankruptcy protection this week, allowing it to restructure its debt and business operations to survive …

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VR destination ‘Sandbox VR’ emerges from Chapter 11 bankruptcy after reorganization – Road to VR

Virtual reality arcades and other out-of-home VR destinations have been among the hardest-hit businesses during the COVID-19 pandemic. Sandbox VR, one of the best-funded in the industry, was no exception, as the company’s US subsidiary, Glostation USA Inc., filed for bankruptcy in August. It has now emerged that Glostation has …

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California Luxury Hotel Hits Ch. 11 With Rebranding Hopes

By Rick Archer (March 8, 2021, 5:16 PM EST) – California luxury hotel Fairmont San Jose has become another casualty of the COVID-19 pandemic, closing and entering Chapter 11 in Delaware bankruptcy court as that he is applying for a mortgage extension alongside a new management company and a new …

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VIVUS Announces Updated Agreement with Icahn Enterprises

CAMPBELL, Calif., June 02, 2020 (GLOBE NEWSWIRE) — VIVUS, Inc. (Nasdaq: VVUS; the “Company”), a biopharmaceutical company, today announced that it has updated its debt agreement with Icahn Enterprises Holdings LP (dba IEH Biopharma LLC), which holds approximately $170.2 million principal amount of the Company’s senior convertible debentures. Under the …

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The Evolution of Technology Adoption in Bankruptcy and Restructuring Opportunities: Key Questions Answered

Christophe MontaneSenior Vice President, Sales APACInternal links Christopher broached the subject of The Evolution of Technology Adoption in Bankruptcy and Restructuring Opportunities to ALB Virtual Forum on Cross-Border Debt Restructuring 2020 held on September 3, 2020. Although we were unable to get through the questions, we solicited answers from Christophe …

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Bankruptcy is an additional burden for some job seekers

WASHINGTON—Hundreds of thousands of Americans who have lost their jobs during the coronavirus pandemic may face an additional hurdle as they seek to re-enter the workforce: bankruptcy on their record. Federal law allows private employers to turn down an applicant for employment because of a prior bankruptcy filing, which employers …

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IBC: Receiving your contributions: Procedure for creditors to file under IBC

By Abhay Chandalia Micro, small and medium-sized enterprises (MSMEs) have a duel to fight. One is the growing competition and the other is the growing need for funds. Any uncollectible debtor will put considerable pressure on the activities of MSMEs. The recent Insolvency and Bankruptcy Code (IBC) has been a …

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Dozens of buyers contemplate bankruptcy of NPC International restaurants

More than 50 potential buyers are eyeing at least some of the massive number of restaurants operated by bankrupt franchisee Wendy’s and Pizza Hut NPC International, paving the way for a remarkably competitive auction set to begin later this month. One of those bidders is the largest restaurant franchisee in …

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Jim Dey | Illinois bailout could take the form of bankruptcy | Coronavirus

When a prominent Illinois lawmaker asked the federal government for $ 10 billion to help bail out public pensions in the struggling state, it sparked a wave of condemnation. Speaking for many, the Chicago Tribune blasted new Senate Speaker Don Harmon for using the coronavirus pandemic as an excuse to …

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Cities and counties face fiscal challenges in pandemic era – American City and County

Even before widespread recognition that the coronavirus pandemic is likely to wreak economic havoc on national and global economies, many cities and counties across the country faced significant financial challenges. Some of these pre-existing problems included: insufficient liquidity; excessive debt burden; insufficient reserves; declining income; and the unsustainable pension and …

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TooJay’s Original Gourmet Deli, which received PPP funds, files for bankruptcy

Photography courtesy of TooJay’s TooJay’s Original Gourmet Deli filed for federal bankruptcy this week, accusing the week-long coronavirus shutdown of putting what was otherwise a profitable business in the red. However, the company filed for debt protection shortly after receiving a $ 6.4 million federal loan under the Paycheck Protection …

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World’s second oldest airline Avianca bankrupted by coronavirus

(Reuters) – Avianca Holdings AVT_p.CN, Latin America’s second-largest airline, filed for bankruptcy on Sunday after failing to meet a deadline for paying obligations, as its pleas for help from the Colombian government for coronaviruses have so far been unsuccessful. If he does not come out of bankruptcy, Bogota-based Avianca would …

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Trump administration wants comments on bankruptcy standards for student debt

The Trump administration has quietly announced plans to review the notoriously high standards borrowers must meet to get rid of federal student loans in bankruptcy. But it’s still too early to tell if that’s good news for distressed borrowers. In a note released on Tuesday, the Education Ministry asked the …

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Four rival shipyards join forces to save Perini Navi from bankruptcy – Robb Report

Two rival Italian motor yacht builders have formed a joint venture to acquire Perini Navi, one of the most iconic sailing brands in the Superyacht world. the Ferretti Group and Sanlorenzo sent a joint statement saying they would like to acquire Perini Navi from bankruptcy. The builder of several of …

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The 25 Least Admired Companies in the World – 24/7 Wall St.

Special report February 10, 2021 9:32 a.m. Last updated: February 10, 2021 9:34 a.m. Every year, companies irreversibly damage their public image, either by making decisions that harm their results, or by launching into a scandal that tarnishes their image. These financial and PR issues can cause consumers to rethink …

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Teresa Giudice and her boyfriend buy a new house in New Jersey

Real housewife Teresa Giudice and her boyfriend buy Clarence Manor, a mansion in Montville, New Jersey. Photo via Listing by Coldwell Banker Realty – Fort Lee Office. Where does Teresa Giudice live? Teresa Giudice and her boyfriend Luis Ruelas have reportedly bought a new home in Montville, Morris County, for …

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SVC Enters Chapter 7 Bankruptcy Proceedings Archives

BENNINGTON – The former Southern Vermont College filed for Chapter 7 bankruptcy, beginning the process of liquidating campus real estate and other assets that could include auctions. David Newell, chairman of the board, said the board was dissolved and members resigned this week after approving a request from the institution’s …

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Why does bankruptcy always sound like the ultimate taboo?

Failure is the new success, as they say in Silicon Valley. The entrepreneur who puts together a team of engineers and a mass of funding to start a new business is admired for his willingness to take a risk, whether or not the idea turns out to be the next …

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Iceland admits it may have ‘gone bankrupt’ in EU after rejecting membership | World | News

Against all odds, on Christmas Eve Prime Minister Boris Johnson struck a trade deal with the EU after nine months of tense Brexit negotiations. “It’s a good deal for all of Europe.” The deal is undoubtedly a huge triumph for the Prime Minister, who in December 2019 won an overwhelming …

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Student Loans and Bankruptcy: What You Need to Know | Put away student loans

You may have heard somewhere that student loans cannot be discharged in bankruptcy, but that’s a myth. While very difficult to do, it is possible, and you might consider going this route if you’ve exhausted all other options and meet the discharge criteria. Here’s what to know if you’re wondering …

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The number of bankruptcies doubled to reach 3,774 in fiscal year 20; manufacturing, construction most affected

The coronavirus outbreak has shattered the backs of manufacturing and construction industries over the past three months. But how did they do before that? Insolvency and Bankruptcy Board of India (IBBI) data for 2019-2020 gives a clear picture of the health of industries in India. Insolvency admissions in the last …

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Mediation sought in Bennington Arts Center disputes | Local news

BENNINGTON – Parties involved in litigation related to the former Bennington Center for the Arts are moving towards a formal mediation process, which could lead to the property being put up for sale. Like other former Southern Vermont College real estate, the West Road Arts Center and Theater was entered …

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How Bankruptcy Affects Funding for Colleges and Graduate Studies | Pay for college

Bankruptcy is a dirty word. One that equates to disaster and financial ruin or, as Merriam Webster puts it, “utter failure or impoverishment”. Bankruptcy is also an issue. It allows borrowers suffocated by medical bills, credit card debt and foreclosures to catch your breath and start rebuilding. Sometimes that’s their …

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MagazineBook Printer LSC Communications Files Chapter 11 Bankruptcy

As might be expected, even by its own prior confession, LSC Communications voluntarily filed a Chapter 11 reorganization application with the U.S. Bankruptcy Court for the Southern District of New York. The only surprise – perhaps accelerated by the financial fallout from COVID-19 – is that the announcement came on …

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