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Sacklers agree to $6 billion bankruptcy settlement at Purdue over opioid crisis

Jhe members of the Sackler family, owners of Purdue Pharma, have agreed to a $6 billion settlement of a hotly contested bankruptcy plan, which will see state governments and tens of thousands of people compensated for the the company’s role in the opioid crisis. The deal comes after years of litigation over the marketing of […]

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Recent Hertz Delaware Bankruptcy Court Ruling Maintains Uncertainty Surrounding Repair Premium Claims – Insolvency/Bankruptcy/Restructuring

Over the past decade, there have been several court rulings on whether particular compensation bonuses should be allowed as part of a creditor’s claim in bankruptcy, such as Momentive,1 EFH,2 American Airlines,3 and Ultra Petroleum.4 While these and other decisions set out the legal standards to be applied and resolve the specific claims at issue, […]

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Texas bankruptcy lawsuit begins with energy bill over $2 billion after 2021 winter storm

Electrical Reliability Council of Texas (ERCOT) Command Center in Taylor, Texas August 14, 2012. REUTERS/Julia Robinson Join now for FREE unlimited access to Reuters.com Register Grid operator says high prices are part of the energy system Texas’ largest electric co-op says bill expected to be $770 million The names of companies and law firms listed […]

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BSA Reaches Settlement With Official Abuse Plaintiffs Committee

DOVER, Del. (AP) — Two years after seeking Chapter 11 protection amid a flood of child sex abuse lawsuits, the Boy Scouts of America has reached a tentative settlement with an official bankruptcy committee representing more of 80,000 men who say they were molested as children by scout leaders and others. The settlement announced Thursday […]

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Editorial: Ending Free Passes to Bankruptcy Court | Editorial

Not so long ago, in malls and malls across the region, shoppers could count on Dress Barns, Lane Bryants, Ann Taylors, Justices and other clothing stores operated by Ascena Retail Group. Five years ago, the retailer operated nearly 5,000 brick-and-mortar locations catering to women, teens and tweens. By 2020, that number had been halved and […]

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Pensacola bankruptcy attorneys discuss house hunting after bankruptcy

Pensacola, Florida – Whatever a person’s New Year’s goals and resolutions are, now is the time to dive straight into the process of achieving them. While some people have goals to lose weight, read a number of books, be more social, or spend more time with family, others have financial goals, such as buying a […]

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Investors slam former owner, bankruptcy trustee in Aspirity Energy fraud allegations

Two years after Aspirity Energy filed for bankruptcy, the US trustee tasked with liquidating the bankrupt Minneapolis energy company had owner Tim Krieger on the witness stand – under oath. But during a nearly three-hour review, Krieger frustrated the veteran bankruptcy attorney at almost every turn. Citing his Fifth Amendment right not to incriminate himself […]

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Insurers pushed to settle Archdiocese abuse claims

Copyright © 2022 Albuquerque Journal As the Archdiocese of Santa Fe’s bankruptcy reorganization enters its fourth year without resolution, pressure mounts for church insurance companies to pay a larger share of the payout to nearly 400 survivors of child sexual abuse. The archdiocese and plaintiffs alleging abuse by priests and other clergy reached a tentative […]

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Judge approves deal to resolve Puerto Rico bankruptcy

MIAMI — Puerto Rico on Tuesday received approval from a federal judge to emerge from bankruptcy in the largest public sector debt restructuring deal in U.S. history, nearly five years after the financially troubled territory said it could not repay its creditors. Since Puerto Rico went bankrupt, its economic crisis has only been worsened by […]

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USA Gymnastics’ $380 million bankruptcy plan is approved (1)

USA Gymnastics’ Chapter 11 plan to settle hundreds of sexual abuse claims by paying victims $380 million, largely from insurance proceeds, has received bankruptcy court approval. the plan, backed by the 476 abuse survivors who voted, allows the sports organization to complete a bankruptcy filing following revelations that team doctor Larry Nassar sexually abused hundreds […]

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J&J, Purdue Uproar Spurs House Panel to move bankruptcy review

The House Judiciary Committee voted in favor of a bill to overhaul the corporate bankruptcy system following public outcry over the Purdue Pharma LP and Johnson & Johnson cases. The committee approved the Non-Debtors Discharge Prohibition Act (HR 4777) on a 23-17 vote Wednesday, sending the bill to the House. All Republicans on the committee […]

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reality TV stars with money problems | Gallery

From the editors of Wonderwall.com 6:21 am PST, February 28, 2019 Just because you’re a TV star doesn’t mean you don’t have to face financial problems. To take Tori spelling, for example. The daughter of legendary TV producer Aaron Spelling may have been a Hollywood star turned reality star, but in July 2016, the state […]

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Chris Tucker pays huge tax bill, representative says

Photos: celebrity tax problems Celebrity tax problems – Comedic actor Chris Tucker was able to strike a deal with the IRS after the government filed a $ 2.5 million tax lien against him. According to a representative for Tucker, the “Silver Linings Playbook” star drafted the resolution on Friday, August 29, leading to a settlement. […]