Bankruptcy

A federal bankruptcy judge is expected to rule Wednesday on whether to accept a settlement between OxyContin maker Purdue Pharma, the states and thousands of local governments over an opioid crisis that has killed a half-million Americans over the last two decades.

A bankruptcy judge has approved an $850 million settlement from the Boy Scouts of America as the yearslong lawsuit begins to show some resolution for tens of thousands of victims of sexual abuse.

A bankruptcy judge on Thursday approved a proposal by the Boy Scouts of America to enter into an agreement that includes an $850 million fund to compensate tens of thousands of men who say they were sexually abused as youngsters by Scout leaders and others.

Tiger Woods' former mistress Rachel Uchitel filed for bankruptcy in 2020 but an attorney for the pro golfer is contesting it.

A member of the Sackler family that owns OxyContin maker Purdue Pharma says the billionaires will not agree to a settlement unless it includes liability protections for the heirs against waves of lawsuits over the opioid crisis.

Attorneys for the Boy Scouts of America are asking a Delaware judge to approve an $850 million agreement that is the foundation of the group's plan to emerge from bankruptcy.

In July 2021, a federal court ruled that private student loans can be discharged in bankruptcy. But student loan refinancing may offer a better way to manage your college debt without significantly damaging your credit score.

Retailer Johnson & Johnson is reportedly considering spinning off liabilities from its Baby Powder unit due ongoing litigation, with plans to seek bankruptcy protection for that new business.

The trustee overseeing the bankruptcy of the disastrous Fyre Festival has filed court papers seeking permission to start distributing the funds that have been recovered in the wake of the musical jamboree’s famous flameout in 2017.

Hertz Global Holdings, Inc. announced that it has emerged from Chapter 11 bankruptcy, painting a rosy picture of the future for the car rental company that was battered in the early days of the pandemic.

In 2016, the Del Vecchios approached TAL to invest $100 million into Brooks Brothers under an agreement that the family-run garment manufacturing company would be "made whole" of their investment.

Despite new owners, the woes continue for the ailing JCPenney, which has cut 650 jobs, according to Forbes.

Hertz Global Holdings Inc.

The NRA announced on Jan. 15 that it was seeking relief in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division. However, the organization has said it is looking to re-incorporate in Texas from New York, where it has been incorporated for 150 years.

The number of people seeking bankruptcy during the pandemic fell sharply last year as government aid propped up income and staved off housing and student-loan obligations.

In some of the country’s largest shopping malls like Palisades Center in West Nyack, NY, the strategy to add theme-park like attractions to make up for declining foot traffic looks less like a lifeline and more like a burden. 

The company originally planned to begin liquidation sales before the new year, with 15 stores slated to close by March. 

A prominent paparazzi agency has filed for Chapter 11 bankruptcy after a lengthy legal battle against Meghan Markle. 

U.S. prosecutors on Thursday charged the co-founders of uBiome Inc, a San Francisco biotechnology startup, with defrauding investors about its ability to expand clinical tests to monitor gut health and obtain reimbursements from insurers.