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What we read this week [August 30, 2022] – Insolvency/Bankruptcy

August 31, 2022 Mayer Brown To print this article, all you need to do is be registered or log in to Mondaq.com. Judge David Jones of the Southern District of New York denied a request to create a formal committee of shareholders in Revlon’s Chapter 11 proceedings, as reported Reuters. The debtor’s attorney […]

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Following bankruptcy, TRX founder Randy Hetrick acquires the company

After buying TRX out of bankruptcy, its founder Randy Hetrick is back at the helm. For context: Founded in 2014, TRX is known for its suspension training straps, sold in over 30 countries and certifying 300,000 trainers based on its patented equipment. In 2018, TRX was acquired through private equity, and in 2020 – the […]

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Truth Social is heading for bankruptcy

According to a Washington Post report, the prospects for survival of Donald Trump’s Truth Social are increasingly bleak, with the company that planned to take the social media platform public now suggesting that probable bankruptcy looms on the horizon. As the report points out, Truth Social has failed to pay web hosting fees to the […]

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Former Broncos backup QB files for bankruptcy at Cherry Hills mansion – Greeley Tribune

A former Denver Broncos fourth-string quarterback has filed for bankruptcy on an 18,000-square-foot home in Cherry Hills Village that has 10 bathrooms. But the bank to which he owes $5.4 million wants the Chapter 11 case thrown out. He claims he only filed for bankruptcy on August 16 only to end the foreclosure sale of […]

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Older people and skilled nursing are paving the way for healthcare bankruptcy filings

(Credit: PM Images/Getty Images) Bankruptcy filings in the healthcare sector have risen 25% this year overall, with the aged care sector – including senior living and skilled nursing – leading the way, results show. of an investigation new investigation by healthcare restructuring consultancy Gibbins Advisors. And this trend is expected to continue into 2023, due […]

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The History of the World’s Largest Air Cooler Manufacturer, Symphony

Symphony Limited’s heritage dates back to 1988 when having an air cooler at home was considered a luxury in India. Over the years, Symphony founder Achal Bakeri (62) has kept his cool despite the many headwinds facing the company – from starting up in a nascent market, multiple product failures, bankruptcy to increased competition and […]

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Could this machine shop bankruptcy signal more problems for the automotive supply chain?

The company has between $1 million and $10 million in liabilities and less than $50,000 in assets, according to the filing. “The global COVID-19 pandemic has had a lasting impact on Debtor’s operations,” according to a motion filed by Scott Kwiatkowski, an attorney representing Cammand. “…Due to the inability to manage a second shift and […]

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Grace Tame slams pedophile John Millwood for declaring bankruptcy and failing to pay damages to victim

Grace Tame has slammed a wealthy pedophile after he declared bankruptcy and avoided paying court-ordered compensation to his victim. Ms Tame targeted Tasmanian man John Wayne Millwood, 76, after it was revealed he had yet to pay his victim, known as ZAB, around $6 million in damages and interests. Millwood abused ZAB for six years […]

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Which 5th Circ. Means of decision of bankruptcy for the authority of the FERC

By Keturah Brown and Emily Mallen (August 11, 2022, 3:50 p.m. EDT) — In July, the United States Court of Appeals for the Fifth Circuit released its decision in Gulfport Energy Corp. vs. Federal Energy Regulatory Commission. Gulfport is the result of one of many FERC proceedings initiated in the early months of the COVID-19 […]

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Miami Business Bankruptcies Go Against the Tide

Written by Abraham Galvan on August 9, 2022 Advertising Unlike the rest of the United States, Miami’s business economy remains strong as bankruptcy filings tend to decline. Most midsize businesses are staying due to stimulus checks, moratoriums, PPP loans and other government programs where loans are meant to be forgiven, which is essentially free money […]

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Judge asks if feds considering ‘other form of action’ in bankruptcy investigation of former Milford strip club owner

BRIDGEPORT — A judge has given federal attorneys more time to review the finances of a former president of the Milford strip club who filed for bankruptcy after losing a $113,560 judgment to exotic dancers there. were working. U.S. bankruptcy judge Julie Manning ordered the case of Fairfield resident Joseph Regensburger, the former president of […]

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Bytex Steps In To Save GokuMarket From Bankruptcy – Bitcoin Planet Press Release

Press release PRESS RELEASE. Vancouver, Canada – AUGUST 4, 2022 – ByteXa Canada-based CeDeFi platform, acquires 1 million crypto users from GokuMarket, an insolvent European centralized exchange. After the crypto market crash, GokuMarket was left with the harsh realities of insolvency and ultimate bankruptcy. ByteX reached out by providing an alternative solution that would ultimately […]

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Bankruptcy and liquidation mark the end of an era for Altmeyer Home stores – Sourcing Journal

An 81-year-old family-run regional housewares chain filed for bankruptcy last month. On July 11, Altmeyer Home Stores voluntarily filed for Chapter 7 bankruptcy to wind down the company’s operations. The Delmont, Pa.-based bed and bath retailer listed $2.0 million in assets with liabilities of $791,791.50. The petition filed in a bankruptcy court for the Western […]

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Joan Laporta explains how Barcelona went ‘from bankruptcy to positive equity’

Barcelona president Joan Laporta gave an extensive interview to US media over the weekend, and one of the topics discussed was the state of the club’s finances. It was widely publicized how bad things got for Barca regarding their debt, and Laporta had to take drastic measures such as selling 25% of the club. the […]