All posts tagged "Bankruptcyandinsolvency"

NEW YORK — Rudy Giuliani’s Chapter 11 bankruptcy bid may see him go up against a crowd of creditors currently planning to join forces — and could end up policing every penny he spends if they succeed, the Daily News learned Tuesday. Hunter Biden, a fired Staten Island grocery store worker, defamed Georgia election volunteers, voting machine companies, Giuliani’s former assistant turned sexual assault accuser Noelle Dunphy, and several high-powered law firms are among the eclectic list of creditors the ex-mayor says are looking to drain his accounts. Federal bankruptcy officials on Dec. 22 info......

SAN DIEGO — The Roman Catholic Diocese of San Diego is warning it may have to file bankruptcy in the future because of the potential fallout from hundreds of pending lawsuits alleging sexual abuse by clergy over the last 75 years. The warning comes nearly 15 years to the day since the diocese last sought the sanctuary of the bankruptcy code, filing for Chapter 11 reorganization in the face of 144 claims of sexual abuse by clergy. The bankruptcy was dismissed eight months later, after the diocese reached a settlement with the victims for $198 million. Now the diocese might have to go down the s......

Phoenix Services, a Radnor, Pennsylvania, company that keeps the largest U.S. steel mills running by recycling their molten slag, is in its sixth month of bankruptcy reorganization, as tons of waste pile up at its clients' plants. But why? Was Phoenix forced to seek Chapter 11 protection by inflation, Fed rate hikes, the Ukraine war and other factors beyond its control that have made familiar business arrangements unsustainable? Or did Phoenix and its financiers, led by its private-equity owner Apollo Global Management, use economic conditions as a pretext to rip up contracts and try to pass r......

PHILADELPHIA — Camp Trexler drapes across 755 sylvan acres in the Poconos where, for a century, Boy Scouts have enjoyed swimming, making campfires and hiking. But the forested land, complete with lake, is expected to soon go up for sale with zoning that could transform it into a housing development amid the rural hamlet of Jonas in Polk Township, Pennsylvania. The camp's owner, the Minsi Trails Council of the Boy Scouts, is one of 250 local councils across the United States under pressure to pay toward a $2.5 billion national sex abuse settlement that led to the organization's bankruptcy. Resi......

A bankruptcy judge in Delaware has approved a $2.46 billion Chapter 11 reorganization plan for the Boy Scouts of America, a decision that will directly impact more than 80,000 sexual abuse survivors The Thursday ruling by Judge Laurie Selber Silverstein comes more than two years after BSA filed for bankruptcy protection amid a large number of sexual abuse lawsuits that had been filed by Scouts who had been sexually abused as children by the organization’s leaders and volunteers. The Coalition of Abused Scouts for Justice celebrated the “historic day for tens of thousands of survivors of childh......

Alex Jones has been accused of funneling millions of dollars to himself and his relatives while claiming bankruptcy in a bid to avoid compensating families of the Sandy Hook Elementary School shooting victims. The families of nine Sandy Hook victims filed a motion on Thursday in a federal bankruptcy court in Houston, requesting that Jones give up control of Free Speech Systems, the parent company of his far-right, conspiracy website Infowars. The bombastic internet personality previously used the platform to declare the 2012 massacre a hoax involving crisis actors, triggering a series of defam......