Latest Corporate bankruptcy News

Bankrupt US coal company secures short-term funding

Jul. 20, 2019 2:50 PM EDT

CASPER, Wyo. (AP) — A U.S. judge has approved funding to allow a bankrupt coal company to maintain basic operations for a few days. U.S. District Judge Frank Volk in West Virginia approved $2.9 million in debtor-in-possession financing Friday from two lenders to Milton, West Virginia-based Blackjewel LLC....

Appeals court upholds Trump move to drop mine pollution rule

Jul. 19, 2019 6:55 PM EDT

BILLINGS, Mont. (AP) — A U.S. appeals court panel sided with the Trump administration Friday in a mining pollution dispute, ruling that state and federal programs already in place ensure that companies take financial responsibility for future cleanups. The ruling came after the administration was sued by...

Barneys New York evaluating restructuring options

Jul. 16, 2019 4:20 PM EDT

NEW YORK (AP) — Barneys New York may soon join the ever lengthening list of retail stores seeking protection in bankruptcy. The luxury clothing company, faced with high rents and a shifting consumer landscape, is evaluating options that may include a bankruptcy filing. That's according to a source close to...

Priest donates to miners affected by Blackjewel bankruptcy

Jul. 15, 2019 8:45 PM EDT

HARLAN, Ky. (AP) — A priest in Kentucky handed out more than $20,000 on Monday to miners struggling to pay bills after the coal company they work for filed for bankruptcy protection. People crowded Holy Trinity Catholic Church in Harlan as Father Jim Sichko signed checks for more than 100 miners who are...

California backs effort to boost utilities during wildfires

Jul. 11, 2019 6:50 PM EDT

SACRAMENTO, Calif. (AP) — California lawmakers approved a multibillion-dollar plan Thursday to shore up the state's biggest electric utilities in the face of catastrophic wildfires and claims for damage from past blazes caused by their equipment. It requires major utilities to spend at least $5 billion...

Miners worried about pay during Blackjewel coal bankruptcy

Jul. 10, 2019 4:58 PM EDT

ROANOKE, Va. (AP) — Some Virginia miners for the coal company Blackjewel LLC say their paychecks are bouncing and they remain out of work as the company goes through bankruptcy proceedings. The Roanoke Times reports some workers say they're unsure if they still have jobs after reportedly being asked to...

Wyoming coal miners left wondering after bankruptcy filing

Jul. 7, 2019 11:58 PM EDT

GILLETTE, Wyo. (AP) — Wyoming coal workers who were locked out of their jobs after a company filed for bankruptcy protection are wondering whether they'll ever be called back to work. The West Virginia-based Blackjewel LLC has 580 employees at two open-pit mines in northeastern Wyoming, Eagle Butte and...

Coal CEO to resign as part of company's bankruptcy deal

Jul. 3, 2019 6:27 PM EDT

CHARLESTON, W.Va. (AP) — A federal judge has approved a $5 million lifeline to help one of the country's largest coal producers navigate bankruptcy on the condition that its CEO step down. Court documents filed Wednesday said the financing from Riverstone Credit Partners will go toward providing security...

Blackjewel CEO confident bankrupt coal operator will rebound

Jul. 2, 2019 6:57 PM EDT

CHARLESTON, W.Va. (AP) — The CEO of one of the nation's largest coal producers says he's confident the company will bounce back despite the shutdown of several mines after it filed for federal bankruptcy protection. Milton-based Blackjewel LLC filed for Chapter 11 bankruptcy protection Monday in U.S....

Philadelphia hospital owners file for bankruptcy protection

Jul. 1, 2019 9:25 AM EDT

PHILADELPHIA (AP) — The parent company of a Philadelphia hospital that began curtailing services over the weekend has filed for bankruptcy protection. The Chapter 11 filing made late Sunday by Hahnemann University Hospital also includes St. Christopher's Hospital for Children in Philadelphia. Allen Wilen,...