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Hertz To Pay $168 Million to Settle With Customers Wrongly Accused of Stealing Cars
Due to a glitch in Hertz’s system, the company mistakenly accused customers of stealing rented cars.
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Owner of Regal Cinemas Confirms It's Considering Bankruptcy
Cineworld Group PLC, one of the world’s largest movie theater chains, said Monday that it is considering filing for Chapter 11 bankruptcy protection in the U.S. and similar actions elsewhere.
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Why Sri Lanka Is in Turmoil and What's Next for the Country
Sri Lanka’s president, who had announced he would resign Wednesday, has fled the country after months of turmoil culminated in protesters converging on the presidential palace.
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Alex Jones' Infowars Files for Bankruptcy Amid Lawsuits Over Sandy Hook ‘Hoax' Claims
Infowars filed for Chapter 11 bankruptcy protection as the website’s founder and conspiracy theorist Alex Jones faces defamation lawsuits over his comments that the Sandy Hook Elementary School shooting was a hoax.
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Cruise Takes Unexpected Turn After Miami Judge Orders Ship's Seizure Over Unpaid Bills
A Miami judge issued a warrant that gives authorities the ability to seize the Crystal Symphony ship on U.S. waters.
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NBA Star Antoine Walker Bounced Back From Bankruptcy in Two Years. Here's His Advice for Rebuilding Finances
Today, Walker helps others avoid the money woes he’s overcome. He’s a consultant with a company that focuses on teaching athletes how to manage their money.
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Will Puerto Rico's Debt-Restructuring Deal End the Largest Bankruptcy in US History?
If courts confirm the agreement, it would effectively cut annual public debt payments from $3.3 billion to $1.1 billion.
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Most Expensive Home in America Defaults on $165 Million in Debt, Heads for Sale
The 105,000-square-foot Bel Air estate, known as “The One,” was placed into receivership by the Los Angeles County Superior Court.
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Boy Scouts Get Conditional Approval of $850M Bankruptcy Deal
A bankruptcy judge has approved a proposal by the Boy Scouts of America to set up an $850 million fund to compensate tens of thousands of men who say they were sexually abused as youngsters by scout leaders
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Schumer Wants NRA Investigated for Bankruptcy Fraud
Senate Majority Leader Chuck Schumer on Sunday called on the Justice Department to investigate the National Rifle Association for bankruptcy fraud, saying the financially stable gun-rights group abused the system when it sought bankruptcy protection in the wake of a New York lawsuit seeking to put it out of business.
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With Bankruptcy Tossed, What's Next for the NRA?
A judge has rejected the National Rifle Association’s bankruptcy bid, blocking its plan to reincorporate in Texas. Now the gun rights group is back to fighting New York regulators in a lawsuit that threatens to put it out of business. A federal bankruptcy judge in Dallas dismissed the NRA’s case on Tuesday. He ruled that the organization’s leadership sought Chapter...
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Hertz Shares Surge by More Than 50% After Selecting $6 Billion Turnaround Bid
Shares of Hertz skyrocketed by as much as 68% after it selected a $6 billion turnaround bid that provides a rare payout to shareholders.
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Barnes & Noble Owner Buys Stationery Retailer Paper Source Out of Bankruptcy
Elliott Investment Management, the owner of Barnes & Noble, said Tuesday it will acquire gift and stationery retailer Paper Source.
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Paper Source Vendors Left Pleading for Payment as Executives Seek $1M in Bonuses
In the heart of the pandemic, when thousands of the nation’s retail stores were closed, the stationery chain Paper Source paid its top seven executives a combined $1.47 million in bonuses, NBC News reports.
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JC Penney's Interim CEO Sees Green Shoots Emerging as Department Store Chain Plots Post-Bankruptcy Turnaround
Just a few months into serving as interim CEO of J.C. Penney, Stanley Shashoua said he sees signs of growth in the business.
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Sex Abuse Survivors Agree to Extend Temporary Halt on Boy Scout Lawsuits
The committee representing child sex abuse survivors in the Boy Scouts of America bankruptcy case has agreed to the extension of an injunction halting lawsuits against local Boy Scouts councils.
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Mall Owner Washington Prime Reportedly Preparing to File for Bankruptcy Protection
U.S. shopping mall owner Washington Prime Group is preparing to potentially file for Chapter 11 bankruptcy protection, Bloomberg reported Thursday.
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Alamo Drafthouse Files for Chapter 11 Bankruptcy, Will Sell Assets to Altamont Capital and Fortress Investment
Texas-based cinema chain Alamo Drafthouse is the latest theater group to file for Chapter 11 bankruptcy.
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Op-Ed: Reform Our Bankruptcy Laws Before a Tsunami of Covid Debt Comes Due
When collection moratoria end, there will be a tsunami of foreclosures, evictions, and collection actions, writes Georgetown University Law Professor Adam J. Levitin.
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The 10 Biggest Retail Bankruptcies of 2020
This year, Neiman Marcus and J.C. Penney joined the ranks of some of the biggest retail bankruptcies on record, including Sears, Toys R Us and Circuit City.