China’s Long Debate Over Personal Bankruptcy System

Like many non-public entrepreneurs, Wang Yin took advantage of the cheap credit furnished by the authorities after the worldwide Financial Crisis a decade in the past. In 2009, the Wenzhou businesswoman borrowed 450 million yuan ($ sixty three .5 million) from seven neighborhood banks and poured it into the own family’s chrome steel factories. Wang, […]

NYC’s Largest Bareburger Franchisee Files for Bankruptcy Again Amid Legal Battle

The proprietor of five Bareburger locations around Manhattan, currently in a bitter dispute with Bareburger over claims the company tanked his business on cause to take it over, filed for bankruptcy on his fourth area—months after submitting for 3 others, court docket documents indicate. Michael Pitsinos—who reportedly dropped $10 million to open the Bareburgers beginning […]

Three Small-Town Kansas Hospitals Declare Bankruptcy After Months Of Struggling

Three Kansas hospitals are among six hospitals as soon as run by using a North Kansas City-primarily based business enterprise which have filed for Chapter 11 bankruptcy protection. Two of the 3, Horton Community Hospital and Oswego Community Hospital, have closed in a previous couple of weeks. The 0.33, Hillsboro Community Hospital, remains open underneath […]

Purdue Pharma says financial disaster ‘is an choice’

HUNTINGTON – As towns and states across the country grapple with the opioid epidemic and point the finger on the drug manufacturing and distribution industries, Purdue Pharma says financial ruin is an “option,” The Washington Post reports. The metropolis of Huntington and Cabell County have filed two of more than 1,six hundred lawsuits filed against […]

F+W Media, Citing Debt, Decline And Mismanagement, Files For Bankruptcy Protection

F+W Media, going through close to-time period liquidity problems with simplest approximately $2.5 million in coins available and $one hundred and five.2 million in amazing debt, yesterday filed for protection below Chapter 11 of the federal financial ruin code, mentioning in numerous files an excellent hurricane of secular enterprise decline, poor investments, or even mismanagement. The […]

Shopko final all final shops after failing to find a client

Shopko is last what stays of its 363 stores after failing to find a consumer The store declared financial disaster in January and closed approximately one hundred stores on the time An investor group has purchased Shopko’s optical business of fifty one centers for $480 million Shopko Stores is shuttering what stays of its 363 […]

Windstream, ISP with 1 million customers, files for financial ruin

The financial disaster changed into spurred via a court ruling from February 15 that would value Windstream masses of hundreds of thousands of dollars. The business enterprise stated the financial ruin will assist prevent negative affects on customers. Windstream filed petitions for reorganization beneath Chapter eleven of america Bankruptcy Code in US Bankruptcy Court for […]

Louisville producer files for financial disaster protection

A Louisville producer that serves aviation businesses has filed for Chapter 11 financial disaster safety. Louisville-primarily based S.T.A.P. Industries Inc. Made a filing in U.S. Bankruptcy Court for the Western District of Kentucky in advance this month. The filing indicates that the organisation has fewer than forty nine creditors and has belongings and liabilities of […]

Government requested banks to shop Jet Airways, keep away from financial disaster: Sources

India’s authorities has asked nation-run banks to rescue privately held Jet AirwaysNSE three.43 % without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to ward off thousands of job losses weeks before a widespread election, human beings within the administration instructed Reuters. The finance ministry has in the past year sought frequent updates […]

Ericsson Teaches Anil Ambani – and India – a Lesson

Anil Ambani’s now not going to jail in the end, and Ericsson AB got its money. The Swedish company’s legal professionals ought to take a bow. While the destiny of the Indian mogul’s shrinking empire stays shrouded in uncertainty, as minimum questions over his close to-time period residing arrangements were given responded on Monday. Ambani thanked […]