Latest Corporate bankruptcy News

Judge approves Wyoming, Montana coal mine bankruptcy sale

Aug. 19, 2019 1:21 PM EDT

GILLETTE, Wyo. (AP) — A judge has approved the sale of three mines in Wyoming and Montana owned by a bankrupt coal company. Farmington, New Mexico-based Navajo Transitional Energy Co. will pay Gillette-based Cloud Peak Energy Corp. $15.7 million under the deal approved Monday by U.S. Bankruptcy Judge Kevin...

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...

Indiana-based payroll company seeks bankruptcy protection

Aug. 13, 2019 1:28 PM EDT

ELKHART, Ind. (AP) — An Indiana-based payroll processing company has filed for Chapter 11 bankruptcy protection, blaming its financial woes on a "complex scheme" orchestrated by its founder. Interlogic Outsourcing Inc. sought Chapter 11 protection in documents filed Saturday in federal bankruptcy court in...

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...

Wyoming energy company's asset auction delayed for 2nd time

Aug. 8, 2019 9:24 PM EDT

GILLETTE, Wyo. (AP) — A scheduled auction of a Wyoming energy company's assets has been delayed again. The Gillette News Record reports the Thursday auction for Cloud Peak Energy Corp. has been rescheduled for Aug. 15. The Gillette-based firm operates the Antelope and Cordero Rojo coal mines in Wyoming and...

Louisiana files injunction to stop film company's lawsuits

Aug. 8, 2019 3:57 PM EDT

NEW ORLEANS (AP) — A Mississippi-based film production company has filed two lawsuits against the Louisiana Economic Development department seeking $91 million. The Advocate reports the state agency filed an injunction July 31 in New Orleans to stop the litigation. Element Pictures LLC says it was a...

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...