Corporate bankruptcy

September 09, 2019 - 11:59 am
MEMPHIS, Tenn. (AP) — Discount retail and pharmacy chain Fred's Inc. is filing for bankruptcy and closing its stores over the next two months. The Memphis, Tennessee-based company said in a statement Monday that it has filed for chapter 11 bankruptcy and has begun liquidation sales at all of its...
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FILE - In this Friday, Aug. 17, 2018, file photo, Christine Gagnon of Southington, Conn., protests with other family and friends who have lost loved ones to OxyContin and opioid overdoses at Purdue Pharma LLP headquarters in Stamford, Conn. Gagnon lost her son Michael 13 months earlier. OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation’s deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday, Sept. 7, 2019, in a message to their counterparts across the country. (AP Photo/Jessica Hill, File)
September 08, 2019 - 8:55 pm
State and local governments have sought billions of dollars from Purdue Pharma as a way to hold the company and the family that owns it accountable for the nation's opioid epidemic, a potential payout that is now clouded in uncertainty after state attorneys general said settlement talks had broken...
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FILE - In this August 2018 file photo, family and friends who have lost loved ones to OxyContin and opioid overdoses protest outside Purdue Pharma headquarters in Stamford, Conn. OxyContin maker Purdue Pharma made headlines when it reached a landmark settlement with Oklahoma over the toll the opioids crisis has taken on that state. Attempts to do the same in a major federal case in Ohio are proving more difficult. (AP Photo/Jessica Hill, File)
September 07, 2019 - 5:37 pm
CLEVELAND (AP) — OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation's deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday in a message to their counterparts across the country. The breakdown puts the first...
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FILE - This Feb. 19, 2013 file photo shows OxyContin pills arranged for a photo at a pharmacy in Montpelier, Vt. State attorneys general and lawyers representing local governments said Tuesday, Aug. 27, 2019, they are in active negotiations with Purdue Pharma, maker of the prescription painkiller OxyContin, as they attempt to reach a landmark settlement over the nation's opioid crisis. (AP Photo/Toby Talbot, File)
August 28, 2019 - 10:53 am
COLUMBUS, Ohio (AP) — Purdue Pharma and the thousands of state and local governments suing the maker of OxyContin over the nation's deadly opioid crisis are negotiating a $10 billion to $12 billion settlement under which the Sackler family would give up ownership of the company, according to...
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August 16, 2019 - 9:03 pm
SAN FRANCISCO (AP) — A judge presiding over Pacific Gas and Electric's bankruptcy case agreed Friday to allow a state jury to decide whether the power company's equipment ignited a devastating wildfire in California wine country nearly two years ago. State fire investigators have already determined...
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August 06, 2019 - 9:41 am
LONDON (AP) — Belfast-based consultancy BDO Northern Ireland Partners says it will oversee the administration of the shipyard that built the Titanic after the firm ran out of money. Harland and Wolff appointed BDO as administrators after its Norwegian parent company, Dolphin Drilling, failed to...
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August 05, 2019 - 1:09 pm
LONDON (AP) — Harland and Wolff, the Belfast shipyard that built the Titanic, is facing administration. The shipyard is facing bankruptcy after its Norwegian parent company Dolphin Drilling failed to find a buyer. The shipyard was famed for constructing the doomed Titanic, which sank on its maiden...
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July 31, 2019 - 6:44 am
RICHMOND, Va. (AP) — A blood-testing company filed for bankruptcy and says it's cutting jobs because Medicare payments have been withheld over allegations of fraud. The Richmond Times-Dispatch reports True Health Diagnostics LLC filed for Chapter 11 bankruptcy protection this week and notified...
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FILE - This Nov. 15, 2018, aerial file photo shows the remains of residences leveled by the Camp wildfire in Paradise, Calif. A group of insurance companies are offering a plan to take over Pacific Gas & Electric, the latest to offer competing proposals to pay the utility's wildfire liabilities and pull it out of bankruptcy. In court filings Tuesday, July 23, 2019, the insurers said PG&E Corp. owes them more than $20 billion in claims paid to victims of recent California wildfires caused by PG&E equipment and offered a "viable path" to emerge from bankruptcy. (AP Photo/Noah Berger, File)
July 24, 2019 - 7:40 pm
SAN FRANCISCO (AP) — A federal judge agreed Wednesday to give California officials two weeks to sort out competing proposals to seize control of Pacific Gas & Electric and pull the utility out of a bankruptcy tied to billions in wildfire claims. U.S. Bankruptcy Judge Dennis Montali's decision...
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July 23, 2019 - 11:01 pm
SAN FRANCISCO (AP) — Insurance companies that say Pacific Gas & Electric owes them more than $20 billion from wildfire claims wants to take over the California utility and pull it out of bankruptcy. The group of insurers filed court documents Tuesday seeking to end PG&E's exclusive right to...
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