Latest Corporate bankruptcy News

Priest donates to miners affected by Blackjewel bankruptcy

Jul. 15, 2019 6:18 PM EDT

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

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....

Ex-executive at bankrupt private equity firm pleads guilty

Jun. 28, 2019 5:04 PM EDT

NEW YORK (AP) — A former top executive at a Dubai-based emerging markets firm that coaxed the Bill & Melinda Gates Foundation and the U.S. government to invest in feel-good projects pleaded guilty Friday, saying he was wrong to be silent as his firm exaggerated its finances to win over new investors....

PG&E's lenders offer billions, new name to rebrand utility

Jun. 25, 2019 5:46 PM EDT

SACRAMENTO, Calif. (AP) — Pacific Gas & Electric's key lenders on Tuesday offered a $30 billion plan to pull the utility out of bankruptcy and give the tarnished company a new name. The proposal filed in U.S. Bankruptcy Court would set aside up to $18 billion of that $30 billion to pay claims on the...

Lakeway Publishers: No plans to close papers in bankruptcy

Jun. 21, 2019 4:47 PM EDT

MORRISTOWN, Tenn. (AP) — Lakeway Publishers says it does not plan to close any newspapers as part of a Chapter 11 bankruptcy and restructuring. The company owns community newspapers and websites in Tennessee, Missouri and Virginia. They include the Citizen Tribune in Morristown, Tennessee. Lakeway filed...

MediaNews plans to cut 81 jobs at Reading Eagle

Jun. 19, 2019 3:40 PM EDT

The new owners of the Reading Eagle plan to lay off more than a third of the staff after they assume control of the 150-year-old newspaper and the company's other assets later this month. MediaNews Group stepped forward to buy the Reading Eagle Co. for $5 million after the family-owned company filed for...