Corporate bankruptcy

CORRECTS STATE TO OHIO NOT PENNSYLVANIA - Narcotics detective Ben Hill, with the Barberton Police Department, shows two bags of medications that are are stored in their headquarters and slated for destruction, Wednesday, Sept. 11, 2019, in Barberton, Ohio. Attorneys representing some 2,000 local governments said Wednesday they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation's opioid crisis. (AP Photo/Keith Srakocic)
September 11, 2019 - 6:51 pm
HARTFORD, Conn. (AP) — A tentative settlement announced Wednesday over the role Purdue Pharma played in the nation's opioid addiction crisis falls short of the far-reaching national settlement the OxyContin maker had been seeking for months, with litigation sure to continue against the company and...
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FILE - In this Dec. 12, 2017 file photo, city attorney Dennis Herrera, center, speaks at a news conference next to acting mayor London Breed, left, at City Hall in San Francisco. San Francisco officials are offering to buy Pacific Gas & Electric's power lines and other infrastructure in the city for $2.5 billion. Mayor London Breed and City Attorney Dennis Herrera presented the offer in a letter sent to the utility Friday, Sept. 6, 2019. (AP Photo/Jeff Chiu, file)
September 09, 2019 - 8:48 pm
SAN FRANCISCO (AP) — PG&E Corp. proposed Monday to resolve its bankruptcy case by offering nearly $18 billion to settle claims from devastating wildfires started by its equipment in recent years — an amount immediately criticized by victims who said less than half of that is intended for them...
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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)
KNSS News
September 08, 2019 - 8:49 am
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 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 - 1:19 am
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. The breakdown puts the first federal trial over the opioid epidemic on track to...
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August 16, 2019 - 8:03 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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FILE - In this June 26, 2018, file photo the General Electric logo appears above a trading post on the floor of the New York Stock Exchange. General Electric’s stock is tanking after a report which claims the company has been misleading investors. Investigator Harry Markopolos accused GE Thursday, Aug. 15, of engaging in accounting fraud worth $38 billion. He said GE is heading for bankruptcy and is hiding $29 billion in long-term care losses. (AP Photo/Richard Drew, File)
August 15, 2019 - 3:17 pm
NEW YORK (AP) — A whistleblower who warned regulators about Bernard Madoff's Ponzi scheme is now accusing General Electric of misleading investors, sending the company's stock on a downward spiral. Investigator Harry Markopolos accused GE on Thursday of engaging in accounting fraud worth $38...
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FILE - In this July 16, 2019, file photo a pedestrian reflect in a store window at Barneys department store in New York. has filed for Chapter 11 bankruptcy protection, becoming the latest retailer unable to withstand the consumer shift to online shopping and high rents. Barneys said it’ll use the bankruptcy process to review store leases to best optimize its operations. The company also announced Tuesday, Aug. 6, that it has secured $75 million in new capital to facilitate a going concern sale process. (AP Photo/Bebeto Matthews, File)
August 06, 2019 - 6:59 am
NEW YORK (AP) — Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online and real estate costs soar. The iconic clothier founded almost a century ago will keep the doors open at its 10-story Madison Avenue store, but its secured $75...
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August 05, 2019 - 7:53 am
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 - 5:44 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 - 12:33 pm
SAN FRANCISCO (AP) — Insurance companies contending that Pacific Gas & Electric owes them more than $20 billion from wildfire claims want to take over the California utility and pull it out of bankruptcy. The insurers filed court documents Tuesday to end PG&E's exclusive right to file a...
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