Corporate bankruptcy

FILE - In this Jan. 22, 2020, file photo a store front is closed below an Express retail clothing store in Valley West Mall in West Des Moines, Iowa. On Tuesday, Jan. 28, the Conference Board reports on U.S. consumer confidence for January. (AP Photo/Andrew Harnik, File)
February 03, 2020 - 8:33 am
A consortium of buyers, including mall owners Simon Property Group and Brookfield Property Partners, is bidding $81 million for Forever 21, the ubiquitous mall staple that filed for bankruptcy protection in September. Simon and Brookfield are Forever 21's biggest landlords. The other bidder is...
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January 30, 2020 - 4:17 pm
USA Gymnastics has filed a bankruptcy plan that includes an offer of $215 million for sexual abuse survivors to settle their claims against the embattled organization. The $215 million total is the amount USA Gymnastics' insurance carriers are willing to provide the sport's national governing body...
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FILE - This Nov. 1, 2019, file photo shows flames from a backfire on a hillside as firefighters battle the Maria Fire in Santa Paula, Calif. California Gov. Gavin Newsom is urging a federal judge to reject Pacific Gas and Electric's blueprint for getting out of bankruptcy and renewing his threat to lead a bid to turn the beleaguered utility into a government-run operation. PG&E is trying to dig out of a financial hole created by more than $50 billion in claims stemming from a series of catastrophic wildfires that have been blamed on the San Francisco company. (AP Photo/Noah Berger, File)
January 29, 2020 - 8:12 pm
SAN FRANCISCO (AP) — Pacific Gas & Electric attorneys on Wednesday assured a federal judge the utility will emerge from bankruptcy by its June deadline, even as California Gov. Gavin Newsom vowed to follow through on his threat to have the state take over the nation's largest utility. The...
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ADDS DATE AND LOCATION - This Sept. 29, 2018, photo provided by Garrett Hade shows shows Hade at Recovery Fest in Pawtucket, R.I., hosted by the Above The Noise Foundation. Hade said he has been sober for nearly five years after a long odyssey through addiction that began with OxyContin when he was a teenager in Florida. As an organizer with the Recovery Advocacy Project, Hade said he's telling people that they'll be able to make claims against Purdue Pharma. (Garrett Hade via AP)
January 24, 2020 - 3:37 pm
State and local governments have been leading the legal fight against the opioid industry, seeking payouts to help them deal with the fallout from the nation's addiction crisis. Average Americans are about to get their shot. On Friday, the federal judge overseeing the bankruptcy case of Purdue...
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FILE - This June 25, 2017 file, photo shows TK Holdings Inc. headquarters in Auburn Hills, Mich. Takata is recalling 10 million more front air bag inflators sold to 14 different automakers because they can explode with too much force and hurl shrapnel. The recall is the last one the bankrupt company agreed to in a 2015 settlement with U.S. safety regulators. It could bring to a close the largest series of recalls in U.S. history. (AP Photo/Paul Sancya, File)
January 08, 2020 - 5:52 pm
DETROIT (AP) — Takata is recalling 10 million more front air bag inflators sold to 14 different automakers because they can explode with too much force and hurl shrapnel. The recall is the last one the bankrupt company agreed to in a 2015 settlement with the U.S. safety regulators. It could bring...
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December 16, 2019 - 7:51 pm
The wealthy owners of OxyContin maker Purdue Pharma started taking far more money out of the company after it was fined for misleading marketing of the powerful prescription painkiller. A court filing made by the company Monday evening shows Purdue made payments for the benefit of members of the...
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FILE - In this April 12, 2019, file photo, California Gov. Gavin Newsom answers a reporter's question about a report he presented concerning the worsening wildfires in the state, during a news conference, in Rancho Cordova, Calif. Newsom has rejected a $13.5 billion settlement that Pacific Gas & Electric struck just last week with thousands of people who lost homes, businesses and family members in a series of devastating fires that drove the nation's largest utility into bankruptcy. (AP Photo/Rich Pedroncelli, File)
December 16, 2019 - 4:49 pm
SAN FRANCISCO (AP) — Pacific Gas & Electric Co. will have to quickly overhaul a complex plan addressing more than $50 billion in wildfire claims to gain California Gov. Gavin Newsom's support in time to meet a make-or-break deadline for getting out of bankruptcy. That sobering reality hit PG...
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Democratic presidential hopeful Elizabeth Warren speaks during a town hall, Sunday, Dec. 8, 2019, in Charleston, S.C. (AP Photo/Meg Kinnard)
December 08, 2019 - 7:32 pm
WASHINGTON (AP) — Elizabeth Warren was paid at least $1.9 million for legal work stretching back three decades, her campaign disclosed Sunday night, amid calls from a chief Democratic presidential rival that the Massachusetts senator should be more forthcoming about her past corporate clients. In...
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FILE - In this Nov. 9, 2018 file photo, Pacific Gas & Electric crews work to restore power lines in Paradise, Calif. California Gov. Gavin Newsom has rejected Friday, Dec. 13, 2019, a bankruptcy reorganization plan that Pacific Gas and Electric reached just last week with thousands of wildfire victims. Newsom says in a five-page letter to PG&E CEO William D. Johnson that the plan's most important elements are providing safe and reliable power to its customers. (AP Photo/Rich Pedroncelli, File)
December 07, 2019 - 12:15 am
LOS ANGELES (AP) — Pacific Gas and Electric announced Friday it has reached a tentative $13.5 billion settlement resolving all major claims related to the deadly, devastating Northern California wildfires of 2017-2018 that were blamed on its outdated equipment and negligence. The utility says the...
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FILE - This June 17, 2019, file photo shows 5-mg pills of Oxycodone. The judge overseeing the bankruptcy case of OxyContin maker Purdue Pharma will consider Wednesday, Dec. 4, 2019 whether the company's CEO should get a bonus equal to half his $2.6 million salary. (AP Photo/Keith Srakocic, File)
December 04, 2019 - 5:34 pm
WHITE PLAINS, N.Y. (AP) — More time is needed to sort out whether the CEO of OxyContin maker Purdue Pharma should receive a $1.3 million bonus next year, but the company should be allowed to pay about $35 million in bonuses to 682 other employees, the judge overseeing the company's bankruptcy case...
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