Corporate bankruptcy

February 25, 2020 - 10:06 am
The generic drugmaker Mallinckrodt has a tentative $1.6 billion deal to settle lawsuits over its role in the U.S. opioid crisis, it announced Tuesday. The deal is intended to end hundreds of lawsuits faced by the company over opioids. The company said that it had an agreement with a key committee...
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FILE - In this Feb. 11, 2020, file photo a Pacific Gas & Electric truck leaves the company's Oakland Service Center in Oakland, Calif. Pacific Gas and Electric said Tuesday, Feb. 18, that it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. (AP Photo/Ben Margot, File)
February 18, 2020 - 2:05 pm
Pacific Gas and Electric says it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. The nation's largest utility shared its rosy outlook on Tuesday, along...
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In this Wednesday, Feb. 12, 2020, photo, a statue stands outside the Boys Scouts of America headquarters in Irving, Texas. The Boy Scouts of America has filed for bankruptcy protection as it faces a barrage of new sex-abuse lawsuits. The filing Tuesday, Feb. 18, in Wilmington, Delaware, is an attempt to work out a potentially mammoth compensation plan for abuse victims that will allow the 110-year-old organization to carry on. (AP Photo/LM Otero)
February 18, 2020 - 6:21 am
Barraged by hundreds of sex-abuse lawsuits, the Boy Scouts of America filed for bankruptcy protection Tuesday in hopes of working out a potentially mammoth victim compensation plan that will allow the 110-year-old organization to carry on. The Chapter 11 filing in federal bankruptcy court in...
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A customer steps out of a Pier 1 Imports store which was having a closeout sale, Monday, Feb. 17, 2020, in Larchmont, N.Y. Home goods retailer Pier 1 Imports Inc. filed for bankruptcy protection Monday after years of sliding sales. The Fort Worth, Texas-based company, which was founded in 1962, has recently struggled with increased competition from online retailers such as Wayfair. (AP Photo/Julie Jacobson)
February 17, 2020 - 4:16 pm
Pier 1 Imports Inc. — the once-trendy supplier of home goods like papasan chairs and throw pillows — filed for bankruptcy protection Monday after years of sliding sales. The Fort Worth, Texas-based company has been struggling with increased competition from budget-friendly online retailers like...
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FILE - This Oct. 14, 2009 file photo, shows copies of the McClatchy Co. owned Miami Herald newspaper in Miami. McClatchy Co., the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers across the country is filing for bankruptcy protection. McClatchy Co. said Thursday, Feb. 13, 2020, that it will continue to run normally as it pursues approval of its restructuring plan under Chapter 11. (AP Photo/Wilfredo Lee, File)
February 13, 2020 - 12:06 pm
NEW YORK (AP) — McClatchy, the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers, has filed for bankruptcy protection as it struggles to pay off debt while revenue shrinks because more readers and advertisers are going online. McClatchy said Thursday that its 30...
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PGE Truck
AP News
February 11, 2020 - 2:39 pm
SAN FRANCISCO (AP) — Pacific Gas & Electric's plan to emerge from bankruptcy faced another threat from California Gov. Gavin Newsom during a Tuesday court hearing that set the stage for a potentially dramatic showdown later this month. Newsom's lawyers told U.S. Bankruptcy Judge Dennis Montali...
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February 04, 2020 - 11:21 am
SAN FRANCISCO (AP) — A federal judge on Tuesday approved a settlement that moves Pacific Gas & Electric closer to getting out of bankruptcy, but the troubled utility still must navigate nettlesome obstacles being put up by the state of California. U.S. Bankruptcy Judge Dennis Montali signed off...
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FILE - In this Jan. 22, 2020, file photo a store front is closed below an Express retail clothing store in Valley West Mall in West Des Moines, Iowa. On Tuesday, Jan. 28, the Conference Board reports on U.S. consumer confidence for January. (AP Photo/Andrew Harnik, File)
February 03, 2020 - 6:33 am
A consortium of buyers, including mall owners Simon Property Group and Brookfield Property Partners, is bidding $81 million for Forever 21, the ubiquitous mall staple that filed for bankruptcy protection in September. Simon and Brookfield are Forever 21's biggest landlords. The other bidder is...
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FILE - This Nov. 1, 2019, file photo shows flames from a backfire on a hillside as firefighters battle the Maria Fire in Santa Paula, Calif. California Gov. Gavin Newsom is urging a federal judge to reject Pacific Gas and Electric's blueprint for getting out of bankruptcy and renewing his threat to lead a bid to turn the beleaguered utility into a government-run operation. PG&E is trying to dig out of a financial hole created by more than $50 billion in claims stemming from a series of catastrophic wildfires that have been blamed on the San Francisco company. (AP Photo/Noah Berger, File)
AP News
January 29, 2020 - 6:12 pm
SAN FRANCISCO (AP) — Pacific Gas & Electric attorneys on Wednesday assured a federal judge the utility will emerge from bankruptcy by its June deadline, even as California Gov. Gavin Newsom vowed to follow through on his threat to have the state take over the nation's largest utility. The...
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ADDS DATE AND LOCATION - This Sept. 29, 2018, photo provided by Garrett Hade shows shows Hade at Recovery Fest in Pawtucket, R.I., hosted by the Above The Noise Foundation. Hade said he has been sober for nearly five years after a long odyssey through addiction that began with OxyContin when he was a teenager in Florida. As an organizer with the Recovery Advocacy Project, Hade said he's telling people that they'll be able to make claims against Purdue Pharma. (Garrett Hade via AP)
January 24, 2020 - 1:37 pm
State and local governments have been leading the legal fight against the opioid industry, seeking payouts to help them deal with the fallout from the nation's addiction crisis. Average Americans are about to get their shot. On Friday, the federal judge overseeing the bankruptcy case of Purdue...
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