Latest Corporate bankruptcy News

Hearing ordered as miners protest by blocking coal trains

Aug. 23, 2019 4:07 PM EDT

CHARLESTON, W.Va. (AP) — A judge has ordered an evidentiary hearing within two weeks on a protest involving coal miners who have blocked trains transporting coal. News outlets report lawyers for Blackjewel LLC and the U.S. Labor Department were in court Friday in Charleston. Miners have camped out on train...

Jury to decide PG&E's role in California wine country fire

Aug. 16, 2019 9:03 PM EDT

SAN FRANCISCO (AP) — A judge presiding over Pacific Gas and Electric's bankruptcy case agreed Friday to allow a state jury to decide whether the power company's equipment ignited a devastating wildfire in California wine country nearly two years ago. State fire investigators have already determined the...

The Latest: Jury to decide PG&E role in wine country fire

Aug. 16, 2019 8:22 PM EDT

SAN FRANCISCO (AP) — The Latest on rulings issued by the judge presiding over PG&E's bankruptcy case (all times local): 5:15 p.m. A state jury will get to decide whether Pacific Gas and Electric equipment ignited a deadly wildfire in California wine country nearly two years ago. State fire...

Whistleblower accuses GE of fraud, misleading investors

Aug. 15, 2019 6:11 PM EDT

NEW YORK (AP) — A whistleblower who warned regulators about Bernard Madoff's Ponzi scheme is now accusing General Electric of misleading investors, sending the company's stock on a downward spiral. Investigator Harry Markopolos accused GE on Thursday of engaging in accounting fraud worth $38 billion,...

Coal company compliance over wage bonds under investigation

Aug. 14, 2019 7:29 PM EDT

FRANKFORT, Ky. (AP) — Kentucky Attorney General Andy Beshear says his office will investigate whether coal companies are posting performance bonds intended to secure employee wages. News outlets report Blackjewel LLC hadn't posted the bond with the Kentucky Labor Cabinet when it filed for bankruptcy July...

Kentucky's Cambrian Coal files for Chapter 11 bankruptcy

Aug. 9, 2019 5:59 PM EDT

PIKEVILLE, Ky. (AP) — Another Kentucky coal producer has filed for Chapter 11 bankruptcy protection. The Lexington Herald-Leader reports Cambrian Coal LLC plans to auction off most of its assets next month, if it gains court approval. Nearly 700 people are employed by Cambrian at three major mining...

Barneys New York secures fresh new financing

Aug. 7, 2019 6:29 PM EDT

NEW YORK (AP) — Barneys New York has secured fresh new financing that will enable the luxury retailer to have more time to find a buyer. The New York-based chain filed for Chapter 11 bankruptcy Tuesday and announced it would keep five stores open, including its flagship Madison Avenue location. It would...

Judge approves sale of Blackjewel coal assets

Aug. 6, 2019 7:39 PM EDT

CHARLESTON, W.Va. (AP) — A federal judge has approved Contura Energy's bid for three mines owned by the bankrupt Blackjewel coal company. A Blackjewel spokesman said U.S. District Judge Frank Volk in West Virginia approved the sale Tuesday. The deal still needs the federal government's approval before it's...

Business Highlights

Aug. 6, 2019 5:15 PM EDT

___ A heightened US-China financial war imperils global economy WASHINGTON (AP) — Just what the fragile global economy didn't need: An unpredictable escalation in President Donald Trump's trade war with China, one that spreads the conflict to currency markets, threatens to involve other countries and...

Barneys seeks bankruptcy protection, closes most stores

Aug. 6, 2019 4:36 PM EDT

NEW YORK (AP) — Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online. The iconic clothier founded almost a century ago will keep the doors open at its 10-story Madison Avenue store, but it has secured $75 million in financing to pay...