Business Events Bankruptcy

  • March 22- A major battery storage project that would help California replace three of its natural gas power plants may need to be scrapped as a result of PG&E Corp's bankruptcy, according to court documents filed this week. Because PG&E can reject contracts in bankruptcy, energy developer esVolta LP said in papers filed with the U.S. Bankruptcy Court in San...

  • *India gearing up for general election starting April. *India one of world's fastest-growing aviation markets. NEW DELHI, March 19- India's government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses weeks before a general election, two...

  • Pier 1, which has roughly 987 stores in the United States and Canada, has added debt restructuring specialists at Kirkland& Ellis LLP to a roster of advisers counseling the chain as it explores strategic alternatives, the sources said. As of December, the company had about $200 million in long-term debt. However, a bankruptcy filing is not yet on the horizon for...

  • March 13- Purdue Pharma's Chief Executive Officer Craig Landau said the company is considering bankruptcy, the Washington Post reported on Wednesday, as the OxyContin maker faces a slew of lawsuits alleging the drugmaker contributed to opioid epidemic sweeping the United States. Filing for Chapter 11 protection would halt the lawsuits and allow Purdue to...

  • DUBAI/ RIYADH, March 9- A Saudi court has approved an application by detained and indebted billionaire Maan al-Sanea and his company, Saad, to have their case resolved through the kingdom's new bankruptcy law, the company's financial adviser and two sources familiar with the matter told Reuters. Creditors have spent the past 10 years pursuing Saad, which is based...

  • SAUDI COURT APPROVES AL-SANEA AND SAAD'S FILING FOR FINANCIAL REORGANISATION UNDER BANKRUPTCY LAW.

  • NEW YORK, March 6- Sears is back into court, less than one month after emerging from bankruptcy protection. Craftsman had been an iconic Sears brand before Stanley paid about $900 million for it in March 2017, while giving Sears what it called a "limited" license to sell some Craftsman products. Sears emerged from Chapter 11 in February after longtime Chairman...

  • It said it has not been spared in the recent downturn in the retail sector, having lost money for six straight years as annual sales plunged 53 percent, to $104 million.

  • Here's what you need to know about Purdue Pharma and the opioid crisis

    Katie Zezima, Washington Post reporter who has been covering the opioid crisis for eight years, joins 'The Exchange' to discuss oxycontin maker Purdue exploring bankruptcy after being pressured for its role in the opioid crisis.

  • March 4- OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from roughly 2,000 lawsuits alleging the drugmaker contributed to the deadly opioid crisis sweeping the United States, people familiar with the matter said on Monday. "We will oppose any attempt to avoid our claims, and will continue...

  • Pedestrians walk past a Gymboree store in San Francisco, California.

    Children's apparel retailer Gymboree was able to sell its band to rival Children's Place, while Gap plans to acquire the bankrupt retailer's high-end children's clothing line Janie and Jack, a bankruptcy court document shows.

  • NEW YORK, March 1- PG&E Corp investor BlueMountain Capital Management LLC on Friday named 13 people it hopes to install as directors at the embattled power utility weeks after the company filed for bankruptcy in the wake of California's catastrophic wildfires. BlueMountain's slate includes former California Treasurer Phil Angelides who chaired the U.S....

  • Pacific Gas & Electric Co. (PG&E) employees work to fix downed power lines burned by wildfires in this aerial photograph taken above Santa Rosa, California, U.S., on Thursday, Oct. 12, 2017.

    Hedge fund and PG&E investor BlueMountain Capital announced Friday that it has nominated 13 candidates for election to the company's board.

  • Feb 21- PG&E Corp, which filed for bankruptcy last month in the wake of potential liabilities from California's catastrophic wildfires, on Thursday extended the deadline by which investors must file paperwork if they want to install their directors on the board. Investors will now have until March 1 to nominate director candidates, the utility said in a...

  • Payless ShoeSource filed for bankruptcy protection on Monday, a day after it began winding down its 2,500 U.S. stores.

  • The retailer has begun liquidation sales for its U.S. stores and is winding down its e-commerce operations.

  • The retailer will begin liquidation sales for its U.S. stores on Feb 17. It is also winding down its e-commerce operations.

  • The U.S. Court of Appeals for the First Circuit set a 90- day period to allow President Donald Trump and the U.S. Senate to constitutionally validate the appointments or reconstitute the board. U.S. District Court Judge Laura Taylor Swain, who is hearing the island's bankruptcy, ruled in July that the creation by the U.S. Congress of the oversight board under a law...

  • Feb 13- A key supplier of talc used in Johnson& Johnson's baby powder filed for Chapter 11 bankruptcy on Wednesday in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma. Imerys Talc America, the U.S. unit of French group Imerys SA, said it filed for bankruptcy because it lacks the financial...

  • Feb 13- A key supplier of talc used in Johnson& Johnson's baby powder filed for Chapter 11 bankruptcy on Wednesday in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma. In July, a Missouri jury ordered J&J to pay a record $4.69 billion to 22 women who said asbestos in talc caused ovarian...