Tag Archives: Bankruptcy

Jeff Bezos to Step Down as Amazon C.E.O.

Amazon founder Jeff Bezos announced that he would be stepping down as C.E.O. after building the company into a $1.7 trillion behemoth that became known as “the everything store,”. In the process, he upended the retail industry, turned Amazon into … Continue reading

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N.R.A. Declares Bankruptcy and Seeks to Exit New York

Seeking an end-run around an investigation by the New York attorney general, the National Rifle Association said that it was declaring bankruptcy and would reincorporate in Texas. The group’s effort to circumvent New York’s legal jurisdiction raised immediate questions from … Continue reading

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DeVos Suspends Student Federal Loan Payments through January

The Trump administration on Friday suspended all federal student loan payments through the end of January and kept interest rates at 0 percent, extending a moratorium that started early in the pandemic but was set to expire at the end … Continue reading

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CONSUMER FINANCIAL PROTECTION BUREAU AND MULTIPLE STATES ENTER INTO SETTLEMENT WITH NATIONSTAR MORTGAGE, LLC FOR UNLAWFUL SERVICING PRACTICES

Today the Consumer Financial Protection Bureau (Bureau) filed a complaint and proposed stipulated judgment and order against Nationstar Mortgage, LLC, which does business as Mr. Cooper (Nationstar).  The Bureau’s action is part of a coordinated effort between the Bureau, a … Continue reading

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Theater Chain AMC Says It Could Run Out of Cash by Year-End

The world’s largest movie-theater company may run out of cash by year’s end if it doesn’t raise additional funds or get more people back to theaters following pandemic shutdowns that have disrupted businesses dependent on consumers gathering in public spaces, … Continue reading

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Restaurant that Ignored COVID-19 Rules in Pennsylvania Files for Bankruptcy

A Brentwood, Pa., restaurant ordered to close for ignoring COVID-19 masking requirements has filed for chapter 11 bankruptcy, the Pittsburgh Post-Gazette reported. The Crack’d Egg filed the petition on Friday in U.S. Bankruptcy Court in Pittsburgh, and it will continue to operate … Continue reading

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Quiksilver Owner Sued over Oaktree-Backed Rescue Deal

Investors sued Boardriders Inc., the company behind the Quiksilver and Billabong brands, over a $431 million rescue financing package they said elevated the interests of a select group of lenders. Intermediate Capital Group PLC, York Capital Management and other lenders … Continue reading

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Mallinckrodt Files for Bankruptcy Amid Opioid Suits

Mallinckrodt Plc became the third major opioid maker to go bankrupt after allegedly profiting by fueling the U.S. opioid epidemic. The drug company said that it filed for chapter 11 protection in Delaware after getting creditors and claimants to agree … Continue reading

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KEPP Program – Landlords and Tenants Apply for up to $5,000 per household

Home has never been more important. Our homes have always provided shelter, but in the midst of the COVID pandemic, home has become so much more. Home is where we receive our health care, educate our children, conduct business, and connect virtually … Continue reading

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U.S. Railroad Amtrak Warns of 2,400 Additional Job Losses Without New Bailout

U.S. government-supported passenger railroad Amtrak said that without a new bailout it could be forced to cut more spending and train services, which could lead to the loss of another 2,400 jobs. In November, Amtrak told Congress it needs up … Continue reading

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