Drugmaker Mallinckrodt (MNK) – Get Report became the third major opioid producer to file for bankruptcy, weighed down by thousands of U.S. lawsuits from states, cities and counties that have blamed drugmakers and distributors for the epidemic of overdose deaths. “After many months of deliberation, negotiation and consideration of alternatives, Mallinckrodt’s […]
bankruptcy
Better Housing Foundation to sell suburban Chicago apartments in bankruptcy auction
It’s the fourth of five affordable housing portfolios owned by the Ohio charity to wind up in Chapter 11 this year, the result of a disastrous acquisition spree fueled by $170 million in bonds. The Better Housing Foundation has attracted thousands of building code violations in Chicago and the attention […]
New York Region Sees 40% Bankruptcy Surge, Braces for More
“By late fall, there will be an avalanche of bankruptcies,” said Al Togut, a lawyer who has handled insolvencies for small businesses and huge corporations like Enron. “When the cold weather comes, that’s when we’ll start to see a surge in bankruptcies in New York City.” New York City and […]
Are you financially stressed right now? What to know about options, from debt negotiation to bankruptcy
The COVID-19 pandemic and economy-shutting measures to contain it came on quickly, over a matter of weeks. But the financial fallout — from job losses, reduced hours or wages, higher medical bills, mounting credit card bills and more — could linger as an unfortunate reminder for years to come. © Getty Images/iStockphoto […]
Are you financially stressed right now? What to know about options, from debt negotiation to bankruptcy – News – The Enterprise, Brockton, MA
Even before the pandemic, when the economy was humming, many people were struggling with their finances. The COVID-19 pandemic and economy-shutting measures to contain it came on quickly, over a matter of weeks. But the financial fallout – from job losses, reduced hours or wages, higher medical bills, mounting credit […]
Liz Weston: Fear of bankruptcy holds too many people back | Local Business
“There’s a misunderstanding about how bankruptcy works and what it would take from you,” Cox says. The vast majority of people who file the most common type of bankruptcy, Chapter 7, don’t have to give up any of their possessions. The types and amount of property you can keep vary […]
Second Wind Consultants Saves 2000 Small Businesses with UCC Article 9 Law That Prevents Bankruptcy, Removes Debt, Preserves Jobs.
Second Wind Consultants, as reported in Bloomberg Businessweek 8/19/2020, invokes the Uniform Commercial Code (UCC) Article 9 law to offer a solution that saves US small businesses and jobs, without further government assistance (PPP, EIDL) and without bankruptcy or courts. This is a game changer that can save small businesses […]
Neiman Marcus’ bankruptcy exit has been approved, and now the big second chance begins
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Neiman Marcus finally has the new start it’s needed for years. The Dallas-based luxury retailer’s reorganization plan was approved by a U.S. Bankruptcy Court on Friday, saving the storied retailer from its unsustainable debt and giving it a fighting chance in a constantly changing retail environment that has been complicated […]
Business and personal bankruptcy filings in the US slowed in August
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. The pace of business bankruptcy filings in the U.S. slowed significantly in August from previous months, though chapter 11 filings were up from last year as the coronavirus pandemic continued to roil the economy. A total of […]