Corporate bankruptcy

August 16, 2019 - 6:03 pm
SAN FRANCISCO (AP) — A judge presiding over Pacific Gas and Electric's bankruptcy case agreed Friday to allow a state jury to decide whether the power company's equipment ignited a devastating wildfire in California wine country nearly two years ago. State fire investigators have already determined...
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FILE - In this June 26, 2018, file photo the General Electric logo appears above a trading post on the floor of the New York Stock Exchange. General Electric’s stock is tanking after a report which claims the company has been misleading investors. Investigator Harry Markopolos accused GE Thursday, Aug. 15, of engaging in accounting fraud worth $38 billion. He said GE is heading for bankruptcy and is hiding $29 billion in long-term care losses. (AP Photo/Richard Drew, File)
August 15, 2019 - 1:17 pm
NEW YORK (AP) — A whistleblower who warned regulators about Bernard Madoff's Ponzi scheme is now accusing General Electric of misleading investors, sending the company's stock on a downward spiral. Investigator Harry Markopolos accused GE on Thursday of engaging in accounting fraud worth $38...
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FILE - In this July 16, 2019, file photo a pedestrian reflect in a store window at Barneys department store in New York. has filed for Chapter 11 bankruptcy protection, becoming the latest retailer unable to withstand the consumer shift to online shopping and high rents. Barneys said it’ll use the bankruptcy process to review store leases to best optimize its operations. The company also announced Tuesday, Aug. 6, that it has secured $75 million in new capital to facilitate a going concern sale process. (AP Photo/Bebeto Matthews, File)
August 06, 2019 - 4:59 am
NEW YORK (AP) — Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online and real estate costs soar. The iconic clothier founded almost a century ago will keep the doors open at its 10-story Madison Avenue store, but its secured $75...
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July 31, 2019 - 3:44 am
RICHMOND, Va. (AP) — A blood-testing company filed for bankruptcy and says it's cutting jobs because Medicare payments have been withheld over allegations of fraud. The Richmond Times-Dispatch reports True Health Diagnostics LLC filed for Chapter 11 bankruptcy protection this week and notified...
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July 24, 2019 - 8:23 am
SAN FRANCISCO (AP) — Insurance companies contending that Pacific Gas & Electric owes them more than $20 billion from wildfire claims want to take over the California utility and pull it out of bankruptcy. The insurers filed court documents Tuesday to end PG&E's exclusive right to file a...
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July 23, 2019 - 8:01 pm
SAN FRANCISCO (AP) — Insurance companies that say Pacific Gas & Electric owes them more than $20 billion from wildfire claims wants to take over the California utility and pull it out of bankruptcy. The group of insurers filed court documents Tuesday seeking to end PG&E's exclusive right to...
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FILE - This undated file photo shows Barrick Goldstrike Mines' Betze-Post open pit near Carlin, Nev. A three-judge panel with the U.S. Court of Appeals for the District of Columbia ruled Friday, July 19, 2019, that state and federal programs ensure mining companies take financial responsibility for their pollution. (Adella Harding/The Daily Free Press via AP, File)
July 19, 2019 - 3:54 pm
BILLINGS, Mont. (AP) — A U.S. appeals court panel sided with the Trump administration Friday in a mining pollution dispute, ruling that state and federal programs already in place ensure that companies take financial responsibility for future cleanups. The ruling came after the administration was...
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A crane operator works equipment on a roadway near Barneys department store, Tuesday July 16, 2019, in New York. The luxury retailer could be joining a growing list of retailers that have filed for bankruptcy. (AP Photo/Bebeto Matthews)
July 16, 2019 - 1:15 pm
NEW YORK (AP) — Barneys New York may soon join the ever lengthening list of retail stores seeking protection in bankruptcy. The luxury clothing company, faced with high rents and a shifting consumer landscape, is evaluating options that may include a bankruptcy filing. That's according to a source...
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Assemblyman Chris Holden, D-Pasadena, center, shakes hands with Assemblyman Chad Mayes, R-Yucca Valley, after their wildfire measure they co-authored, along with Assemblywoman Autumn Burke, D-Inglewood was approved by the Assembly in Sacramento, Calif., Thursday, July 11, 2019. The bill, AB1054, aimed at stabilizing the state's electric utilities in the face of devastating wildfires caused by their equipment, was approved overwhelmingly and now goes to the governor. At left is state Sen. Bill Dodd, D-Napa, who carried the measure in the Senate. (AP Photo/Rich Pedroncelli)
July 11, 2019 - 3:50 pm
SACRAMENTO, Calif. (AP) — California lawmakers approved a multibillion-dollar plan Thursday to shore up the state's biggest electric utilities in the face of catastrophic wildfires and claims for damage from past blazes caused by their equipment. It requires major utilities to spend at least $5...
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FILE - This Dec. 16, 2017 file photo provided by the Santa Barbara County Fire Department shows flames burning near power lines in Montecito, Calif. Pacific Gas & Electric's key lenders have offered a $30 billion plan to pull the utility out of bankruptcy, and give the tarnished company a new name. The Sacramento Bee reports the proposal filed Tuesday, June 25, 2019 in U.S. Bankruptcy Court would set aside up to $18 billion to pay claims on the 2017 and 2018 wildfires caused by PG&E equipment. The plan would rebrand PG&E as Golden State Power Light & Gas Company. (Mike Eliason/Santa Barbara County Fire Department via AP, File)
June 25, 2019 - 2:45 pm
SACRAMENTO, Calif. (AP) — Pacific Gas & Electric's key lenders on Tuesday offered a $30 billion plan to pull the utility out of bankruptcy and give the tarnished company a new name. The proposal filed in U.S. Bankruptcy Court would set aside up to $18 billion of that $30 billion to pay claims...
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