#bankruptcy

#bankruptcy

Katie Price declared bankrupt for the second time over 750,000 tax bill

She did not attend the hearing and owes substantial debt to HMRC. [ more ]

Reality TV star Katie Price fined for driving without license and insurance

Price faces consequences for multiple driving offenses and financial troubles [ more ]

Express Inc. filed for bankruptcy, leading to the closure of 95 stores, including several in NYC. [ more ]

Express plans to close 95 locations nationwide, including 16 in California due to bankruptcy. [ more ]

The Roman Catholic Diocese of Sacramento is filing for bankruptcy due to sexual abuse lawsuits.

The bankruptcy filing aims to fairly compensate victim-survivors of abuse. [ more ]

Pole Bicycles has filed for bankruptcy due to supply chain issues despite prior growth. [ more ]

The Metro Theater's attempts at revitalization have faced consistent setbacks.

The recent plan to convert the theater has fallen through due to bankruptcy and other complications. [ more ]

Crypto fraudster Sam Bankman-Fried's Bahamas real estate holdings valued at $222M to be sold to repay creditors.

Prosecutors allege Bankman-Fried used stolen funds to acquire luxury properties for friends and family. [ more ]

WeWork file legal motion to retain Constellation Place lease

Despite downsizing, WeWork continues operations in L.A. [ more ]

WeWork is exiting a landmark office location in Downtown Los Angeles due to unsuccessful negotiations with the landlord.

WeWork is strategically ending its operations at Gas Company Tower in line with the bankruptcy protection and lease renegotiations to save more than $1.5 billion. [ more ]

TA Partners filed for bankruptcy after facing distress due to loan defaults.

The bankruptcy filing relates to a development site in Playa Vista where a residential complex was planned. [ more ]

Giuliani opposes selling $3.5M Florida condo in bankruptcy case for podcast recordings.

Plan to relocate to Florida for podcasting to save on studio rent and grow broadcast income. [ more ]

Giuliani faces multiple legal challenges despite bankruptcy

His approach to lawyering draws criticism [ more ]

Rudy Giuliani claims that Trump's 2020 campaign owes him $2 million in legal fees.

Giuliani filed for bankruptcy in December after being ordered to pay $148 million in damages to election workers he defamed. [ more ]

Ionic Digital is acquiring bankrupt lender Celsius' mining assets to become one of the top miners in North America.

Ionic currently has 6 exahash per second of mining power and aims to reach 12.7 exahash per second by the end of the year. [ more ]

Celsius Network plans to focus solely on bitcoin mining after emerging from bankruptcy.

Regulators have influenced Celsius to scale down its business and focus on mining. [ more ]

Vice Media Group no longer publishing on its website

Layoffs impacting hundreds of employees [ more ]

Vice News stopped publishing news online, laid off hundreds.

Vice Media CEO's confusion raises concerns about leadership. [ more ]

Vice Media filed for bankruptcy and will lay off hundreds of employees, ceasing website publications.

Digital media companies face challenges in the advertising market, leading to staff layoffs for Vice and other brands. [ more ]

The San Francisco Art Institute, after declaring bankruptcy, has been sold to a nonprofit led by Laurene Powell Jobs.

The nonprofit plans to maintain the campus as an arts institute, including the famed Diego Rivera mural. [ more ]

Almond industry facing a slump due to dropping prices

Investor groups in the almond industry struggling with high debts [ more ]

Approval of restructuring deal for Diamond Sports Group by bankruptcy judge Christopher Lopez

Agreements with financing, settlement, Amazon for streaming rights, and hopes for long-term survival [ more ]

Scott Boras's reputation for letting his players linger on the market has yielded mixed results but has resulted in significant deals being done late in the offseason.

The ongoing bankruptcy of Diamond Sports Group is impacting the winter market, with clubs cutting back payroll due to uncertainty around broadcast revenue, affecting player signings. [ more ]

Diamond Sports Group is renegotiating in-market deals with the Guardians, Rangers, and Twins as part of its bankruptcy proceedings.

MLB expects all three organizations to sign one-year deals to remain on Diamond's Bally Sports networks for the 2024 season. [ more ]

New York City developer Nir Meir lived beyond his means with extravagant tastes like $10,000 sushi parties.

Meir faces charges of grand larceny, tax fraud, and bankruptcy, revealing a darker reality behind his glamorous lifestyle. [ more ]

Former subpostmaster ordered to repay shortfall

Family still dealing with aftermath after 20 years [ more ]

Local councils in the UK have been declaring bankruptcy due to extreme budget cuts.

The bankruptcies have resulted in a lack of adequate social care, transport, education, and housing services for constituents. [ more ]

Local authorities in England will receive an emergency bailout from the government to prevent bankruptcy.

Upper tier councils will receive an additional 500m for social care while lower tier districts will receive a boost of approximately 30 to 40m. [ more ]

Birmingham City Council plans to axe up to 600 posts in a wave of mass redundancies.

The council has issued a section 114 notice on September 5, effectively declaring bankruptcy. [ more ]

Cheshire East council is facing potential bankruptcy due to the scrapped HS2 northern leg

The council is seeking compensation for the losses and the opportunity cost to the borough

Councils across the country are warning of financial crises unless there is intervention to boost local government funding [ more ]

Medical debt is the leading cause of bankruptcies in the United States, and more than 2 in 5 American adults have some.

Connecticut, New Jersey, and other local governments are using public money to purchase and forgive their residents' medical debt.

Programs to purchase and forgive medical debt can have a significant impact, as hospitals often sell the debt for pennies on the dollar. [ more ]

U.K. trade volumes are 15% lower since Brexit

Express and The Body Shop are preparing for potential bankruptcy [ more ]

China Evergrande, one of the world's biggest corporate debtors, has been ordered to liquidate in a Hong Kong court.

The bankruptcy and recovery process for Evergrande will be closely watched by global investors who have been losing confidence in China. [ more ]

Cano Health, a healthcare company in Miami, declared Chapter 11 bankruptcy and had one of its locations suspended by the state.

The company is facing financial difficulties and has been unable to pay rent, leading to lease terminations and eviction lawsuits against them. [ more ]

The NBA is facing accusations of gross negligence in its partnership with Voyager Digital Holdings.

Voyager Digital Holdings went bankrupt due to alleged mismanagement of funds. [ more ]

Rishi Sunak criticizes local councils for requesting permission to raise council tax by more than 5% amid funding shortfalls.

Councils in England are facing a funding crisis as their grant funding from central government has fallen by 40% from 2010 to 2020. [ more ]

The UK government has announced an additional £500 million to help local councils in England.

Many local councils in England are facing bankruptcy due to squeezed budgets. [ more ]

Women now make up the majority of U.S. law firm associates

Women lawyers are being promoted to leadership positions within their firms [ more ]

The US Supreme Court is considering whether the federal government should refund extra fees collected from bankrupt companies under a statute that was later declared unconstitutional.

The law in question increased the fees charged in bankruptcy cases supervised by the US Trustee Program. [ more ]

New York City plans to wipe out over $2 billion in medical debt for up to 500,000 residents.

The city is partnering with RIP Medical Debt to buy the debt in bulk and forgive the amounts for people with low incomes or financial hardships. [ more ]

New York City is launching an effort to wipe out $2 billion in medical debt for city residents.

The initiative is supported by $18 million over three years from the city and could help up to 500,000 New Yorkers with medical debt. [ more ]

SF's Anchor Brewing Co. is in the final days of the auction process to determine its future.

The auction winner is expected to be chosen by the end of January. [ more ]

The bankruptcy and closure of Anchor Brewing Company has led to the auctioning off of its parts, including the brewery, equipment, and intellectual property.

Anchor Brewing's assets are being offered in three separate categories: the brewery property, the equipment, and the intellectual property and beer recipes.

There are at least two interested local buyers who want to continue the Anchor Brewing brand, including a group of laid-off employees who are campaigning to buy the brand back and make it a co-op. [ more ]

Metropolitan Brewing, a beloved German-style brewery in Chicago, is closing its doors on December 17th.

The brewery filed for Chapter 11 bankruptcy due to low retail sales and a rent payment dispute.

The co-founders and owners have no plans to reopen the brewery in a new location. [ more ]

Smart device buyers can learn from VanMoof's bankruptcy and uncertain future.

VanMoof's e-bike, the X3, had features to prevent theft, but the company still declared bankruptcy. [ more ]

YouTube now supports RSS feeds for podcasters, solidifying its position as a top destination for podcasts.

YouTube's RSS integration allows podcasters to turn their episodes into YouTube videos, with access to ads and analytics. [ more ]

Rite Aid has received approval to sell its Elixir Solutions pharmacy-benefit manager business for $575 million to MedImpact Healthcare Systems.

MedImpact was the stalking horse bidder for Elixir during Rite Aid's bankruptcy filing.

The auction process in bankruptcy did not result in higher or better bids for Elixir. [ more ]

WeTrade Group's third-quarter financial statements were not signed and released by its management team.

The data included in the report is not true.

The company mistakenly reported having a deposit of $163 in a U.S. bank account instead of zero. [ more ]

Celsius Network plans to reduce the scope of its business following discussions with the SEC.

The company will create a new company focused on its bitcoin-mining business.

Celsius is waiting for SEC approval before executing its plan. [ more ]

Rudy Giuliani has been ordered to pay $148 million to two Georgia election workers he defamed after the 2020 election.

Declaring bankruptcy will not protect Giuliani from paying the judgment, as bankruptcy law protections do not apply to intentional harm. [ more ]

Trucking company Yellow rejects bid to buy and restructure its business, claiming it is not viable

Yellow's management plans to complete its own bankruptcy plan and sell off assets to different buyers [ more ]

The Supreme Court heard arguments over a bankruptcy deal for Purdue Pharma that would shield the Sackler family from additional opioid-related lawsuits.

The court's decision could have significant consequences for other cases that use the bankruptcy system to settle mass injury claims. [ more ]

SmileDirectClub is shutting down its global operations and no longer offering its aligner treatment through its telehealth platform.

Existing customers are left in limbo with cancelled orders and no customer care support. [ more ]

Capital Metro's drive to electrify its bus fleet has encountered challenges and high costs.

A company selling electric vehicles to Capital Metro has filed for bankruptcy, creating further obstacles. [ more ]