Tag Archives: bankruptcy

OxyContin maker Purdue Pharma files for bankruptcy as part of opioids settlement

OxyContin maker Purdue Pharma files for bankruptcy as part of opioids settlementOxyContin maker Purdue Pharma filed for bankruptcy protection Sunday, days after reaching a tentative settlement with many state and local governments



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Imran Khan accuses India and Israel of moral bankruptcy over election annexation pledges

Imran Khan accuses India and Israel of moral bankruptcy over election annexation pledgesImran Khan has accused India's leaders of moral bankruptcy for trying to win votes by annexing Kashmir, after Narendra Modi pledged to remove its special autonomous status if re-elected. In outspoken remarks just days before voting begins in India's upcoming election, Mr Khan said Mr Modi was flouting a United Nations resolution and his own constitution with his manifesto pledge. Pakistan's prime minister also attacked Benjamin Netanyahu, Israel's prime minister, after he promised to annex Israeli settlements in the occupied West Bank if he is re-elected on Tuesday. “Don't their people feel a sense of outrage and wonder at how far they will go simply to win an election?” Mr Khan asked. Mr Modi earlier this week told a crowd at Hindu nationalist Bharatiya Janata Party headquarters he would scrap the autonomous status Jammu and Kashmir has had since 1954. He would also remove laws that prevent outsiders from buying property in the state. When ldrs in Israel & India show a moral bankruptcy in their readiness to annex occupied West Bank & IOK in defiance of int law, UNSC resolutions & their own Constitution for votes, don't their ppl feel a sense of outrage & wonder how far they will go simply to win an election?— Imran Khan (@ImranKhanPTI) April 9, 2019 Scrapping the protections would help integration with the rest of the country, the BJP has argued. However political leaders in Muslim-majority Kashmir, where Indian forces are fighting a fierce armed insurgency, have predicted the repeal would stoke further unrest. Kashmir and tensions with Pakistan have become a key election battleground in the election after a suicide bombing killed at least 40 Indian paramilitary police in the region in February. Both countries claim the disputed territory Kashmir, and it has been at the the heart of military tensions between the neighbours for decades. Mr Modi's manifesto pledge on Kashmir risks a backlash in the region Credit: Reuters Mr Modi's decision to launch a retaliatory air strike inside Pakistan after the bombing was claimed by the Pakistan-based Jaish-e-Mohammad militant group led him to pose as a strong national security candidate. The clash is thought to have helped Mr Modi's electoral chances by distracting from his failed economic promises. But Mr Khan has accused the BJP of “whipping up war hysteria” to win the election. Pakistan's government has accused India of plotting further military action to win votes, claiming it has “reliable intelligence” that India will attack again this month. Voting in India's general election begins on Thursday but, with around 900 million people eligible to vote, the polls will be held around the country over coming weeks, and the votes will be counted on May 23.



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PG&E files for bankruptcy amid California wildfire lawsuits, citing billions in claims

PG&E files for bankruptcy amid California wildfire lawsuits, citing billions in claimsThe utility filed bankruptcy documents despite investigators determining last week that its equipment was not to blame for a 2017 fire that killed 22.



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PG&E plans to file for Chapter 11 bankruptcy as Camp Fire investigation continues

PG&E plans to file for Chapter 11 bankruptcy as Camp Fire investigation continuesPacific Gas & Electric plans to enter bankruptcy as investigators continue to look into the utility's possible involvement in causing the Camp Fire.



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PG&E, utility tied to California wildfires, to file for bankruptcy

PG&E, utility tied to California wildfires, to file for bankruptcyPacific Gas and Electric, the utility company that has been tied to deadly wildfires in California, said Monday it plans to file for bankruptcy protection at the end of the month. The San Francisco-based company said its decision to reorganize under Chapter 11 is linked to more than $ 30 billion in claims it is facing over the so-called 2018 Camp Fire in Northern California — the deadliest in the state’s modern history — that left 86 people dead. The utility has also been sued over blazes in 2017 that devastated the wine region in Northern California and left more than 40 people dead.



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PG&E ex-CEO receives $2.5 million in severance as company announces plans for bankruptcy

PG&E ex-CEO receives $  2.5 million in severance as company announces plans for bankruptcyThe ex-PG&E CEO resigned Sunday ahead of the utility's impending bankruptcy due to potential liability for its role in recent California wildfires.



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Sears chairman Eddie Lampert offers to buy Sears out of bankruptcy, including 500 stores

Sears chairman Eddie Lampert offers to buy Sears out of bankruptcy, including 500 storesThe chairman and largest investor in Sears Holdings is offering to buy the retailer out of bankruptcy, including 500 of its remaining stores.



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USA Gymnastics, reeling from abuse claims, files for bankruptcy

USA Gymnastics, reeling from abuse claims, files for bankruptcyThe organization’s chairwoman, Kathryn Carson, cited the lawsuits in the decision to seek protection from creditors in federal bankruptcy court in Indianapolis. “Our organization is a financially solid going concern but for the hundred lawsuits that we do have out there,” Carson said on a conference call with reporters. Nassar was sentenced to up to 300 years in prison in two different trials in Michigan last February after more than 350 women testified about abuse at his hands, including Olympic champions Aly Raisman and Jordyn Wieber.



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Sears' bankruptcy will have ripple effect, not all of it bad

Sears' bankruptcy will have ripple effect, not all of it badNEW YORK (AP) — Sears' Chapter 11 bankruptcy filing will have ripple effects on everything from landlords to suppliers to workers.



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Sears, the once-mighty US retailer, files for bankruptcy

Sears, the once-mighty US retailer, files for bankruptcySears, an anchor of retail life for generations of Americans, filed for bankruptcy on Monday and said it was closing almost 150 stores, the latest marquee victim of the online era. Sears Holdings Corporation, also the parent company for Kmart, which merged with Sears in 2005, said in a statement it had filed for bankruptcy protection in Manhattan. Shares in the Sears plunged almost 24 percent on Wall Street.



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