Corporate bankruptcy

ADDS DATE AND LOCATION - This Sept. 29, 2018, photo provided by Garrett Hade shows Hade at Recovery Fest in Pawtucket, R.I., hosted by the Above The Noise Foundation. Hade said he has been sober for nearly five years after a long odyssey through addiction that began with OxyContin when he was a teenager in Florida. As an organizer with the Recovery Advocacy Project, Hade said he's telling people that they'll be able to make claims against Purdue Pharma. (Garrett Hade via AP)
January 24, 2020 - 4:37 pm
State and local governments have been leading the legal fight against the opioid industry, seeking payouts to help them deal with the fallout from the nation's addiction crisis. Average Americans are about to get their shot. On Friday, the federal judge overseeing the bankruptcy case of Purdue...
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FILE - This June 25, 2017 file, photo shows TK Holdings Inc. headquarters in Auburn Hills, Mich. Takata is recalling 10 million more front air bag inflators sold to 14 different automakers because they can explode with too much force and hurl shrapnel. The recall is the last one the bankrupt company agreed to in a 2015 settlement with U.S. safety regulators. It could bring to a close the largest series of recalls in U.S. history. (AP Photo/Paul Sancya, File)
January 08, 2020 - 8:43 am
DETROIT (AP) — Takata is recalling 10 million more front air bag inflators sold to 14 different automakers because they can explode with too much force and hurl shrapnel. The recall is the last one the bankrupt company agreed to in a 2015 settlement with the U.S. safety regulators. It could bring...
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FILE - In this Thursday, Sept. 12, 2019, file photo, cars pass Purdue Pharma headquarters in Stamford, Conn. A new court filing shows that the wealthy owners of OxyContin maker Purdue Pharma started taking far more money out of the company after it was fined in 2007 for misleading marketing of the powerful prescription painkiller. (AP Photo/Frank Franklin II, File)
December 16, 2019 - 10:24 pm
The wealthy owners of OxyContin maker Purdue Pharma started taking far more money out of the company after it was fined for misleading marketing of the powerful prescription painkiller. A court filing made by the company Monday evening shows Purdue made payments for the benefit of members of the...
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Protesters block traffic on Beale Street where a Pacific Gas & Electric building is located in San Francisco, Monday, Dec. 16, 2019. Pacific Gas & Electric will have to quickly reshuffle its board of directors and redraw a complex plan addressing more than $50 billion in potential wildfire claims to gain Gov. Gavin Newsom's support in time to meet a fast-approaching deadline to emerge from bankruptcy protection. (AP Photo/Jeff Chiu)
December 16, 2019 - 7:27 pm
SAN FRANCISCO (AP) — Pacific Gas & Electric Co. will have to quickly overhaul a complex plan addressing more than $50 billion in wildfire claims to gain California Gov. Gavin Newsom's support in time to meet a make-or-break deadline for getting out of bankruptcy. That sobering reality hit PG...
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Democratic presidential hopeful Elizabeth Warren speaks during a town hall, Sunday, Dec. 8, 2019, in Charleston, S.C. (AP Photo/Meg Kinnard)
December 08, 2019 - 8:32 pm
WASHINGTON (AP) — Elizabeth Warren was paid at least $1.9 million for legal work stretching back three decades, her campaign disclosed Sunday night, amid calls from a chief Democratic presidential rival that the Massachusetts senator should be more forthcoming about her past corporate clients. In...
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FILE - In this Nov. 9, 2018 file photo, Pacific Gas & Electric crews work to restore power lines in Paradise, Calif. California Gov. Gavin Newsom has rejected Friday, Dec. 13, 2019, a bankruptcy reorganization plan that Pacific Gas and Electric reached just last week with thousands of wildfire victims. Newsom says in a five-page letter to PG&E CEO William D. Johnson that the plan's most important elements are providing safe and reliable power to its customers. (AP Photo/Rich Pedroncelli, File)
December 07, 2019 - 1:15 am
LOS ANGELES (AP) — Pacific Gas and Electric announced Friday it has reached a tentative $13.5 billion settlement resolving all major claims related to the deadly, devastating Northern California wildfires of 2017-2018 that were blamed on its outdated equipment and negligence. The utility says the...
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FILE - This June 17, 2019, file photo shows 5-mg pills of Oxycodone. The judge overseeing the bankruptcy case of OxyContin maker Purdue Pharma will consider Wednesday, Dec. 4, 2019 whether the company's CEO should get a bonus equal to half his $2.6 million salary. (AP Photo/Keith Srakocic, File)
December 04, 2019 - 6:55 pm
WHITE PLAINS, N.Y. (AP) — More time is needed to sort out whether the CEO of OxyContin maker Purdue Pharma should receive a $1.3 million bonus next year, but the company should be allowed to pay about $35 million in bonuses to 682 other employees, the judge overseeing the company's bankruptcy case...
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FILE - In this Jan. 1, 2019, file photo, an empty shopping cart sits outside a Sears store in the Streets of Southglenn mall in Littleton, Colo. Nine months out of bankruptcy, Sears is limping into the holiday shopping season. (AP Photo/David Zalubowski, File)
December 04, 2019 - 3:07 pm
NEW YORK (AP) — Nearly 10 months out of bankruptcy, Sears is limping into the holiday shopping season. Eddie Lampert, the hedge fund billionaire who promised to save 425 Sears and Kmart stores and roughly 45,000 jobs when he bought the company out of bankruptcy, has seen his $5.2 billion lifeline...
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FILE - This June 25, 2017 file photo shows TK Holdings Inc. headquarters in Auburn Hills, Mich. Bankrupt air bag maker Takata is recalling about 1.4 million driver's side inflators in the U.S. because they could explode and hurl shrapnel. They also may not inflate properly to protect people in a crash. (AP Photo/Paul Sancya, File)
December 04, 2019 - 2:25 pm
DETROIT (AP) — A new and distinct problem has been discovered in air bags made by the now bankrupt company Takata which has led to at least one death. The recently discovered malfunction is different than the defect that led to at least 24 deaths and hundreds of injuries worldwide, though the...
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FILE - In this Dec. 4, 2018 file photo, following the Camp Fire, a patio umbrella stands among the wreckage of a Magalia, Calif., home. Recent wildfires have scorched communities in California leaving a new group of victims filing claims against a utility under bankruptcy protections. Thousands of wildfire survivors have filed claims against Pacific Gas & Electric, the utility whose equipment has been blamed for sparking deadly blazes. As the count of homes destroyed ticks up, some fear their chance for a payout from the bankrupt utility is dwindling. (AP Photo/Noah Berger, File)
November 23, 2019 - 12:06 pm
Lori Kennedy thought she was going to live a comfortable retirement in a modest home in wooded Magalia, California. But she woke up a year ago to a phone call and hurried evacuation orders, and in a matter of hours nearly every trace of her life was incinerated: the Christmas ornaments her children...
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