Latest Corporate bankruptcy News

New owner of Wyoming coal mines moves to reinstate workers

Oct. 23, 2019 3:29 PM EDT

GILLETTE, Wyo. (AP) — The new owner of two Wyoming coal mines has offered to reinstate dozens of furloughed workers, but mine mechanic Christopher Orchard says he doesn't plan to return to his old job. Orchard was among more than 500 workers furloughed when Milton, West Virginia-based Blackjewel filed for...

West Virginia hospital files for bankruptcy protection

Oct. 23, 2019 1:33 PM EDT

WILLIAMSON, W.Va. (AP) — A West Virginia hospital has filed for bankruptcy protection. Williamson Memorial Hospital made the Chapter 11 filing Monday in federal bankruptcy court. Williamson-based Mingo Health Partners LLC bought the 76-bed hospital from Franklin, Tennessee-based Community Healthcare...

Lawyers advise business owners to create buy-sell agreements

Oct. 23, 2019 11:05 AM EDT

NEW YORK (AP) — When business partners start a company together, they may not want to think about what could happen to their enterprise if one of them dies or gets divorced. Attorneys and accountants advise their clients to be prudent and create a buy-sell agreement that will help to ensure that a stake in...

Deal for Wyoming mines called best-case for idled miners

Oct. 21, 2019 4:55 PM EDT

CHEYENNE, Wyo. (AP) — Two of the biggest U.S. coal mines have been sold, raising the possibility that hundreds of miners in Wyoming could return to work almost four months after the owner of the mines filed for bankruptcy protection. Tennessee-based Contura Energy announced Monday that Blackjewel closed...

Barneys pens deal to sell assets to Authentic Brands

Oct. 17, 2019 3:41 PM EDT

NEW YORK (AP) — Luxury chain Barneys New York has penned a deal to sell its assets for $271.4 million to Authentic Brands Group, a licensing company that owns such brands as Nine West and Aeropostale, and investment bank B. Riley Financial Inc., according to court documents filed late Wednesday. The deal...

FirstEnergy subsidiary wins bankruptcy plan approval

Oct. 17, 2019 12:01 PM EDT

TOLEDO, Ohio (AP) — A subsidiary of FirstEnergy Corp. that operates coal and nuclear plants in Ohio, Pennsylvania and West Virginia plans to emerge from bankruptcy protection by the end of the year after getting final approval from a federal judge. But FirstEnergy Solutions also warned this week that it...

Wichita lawyer sentenced in embezzlement case

Oct. 16, 2019 3:08 PM EDT

WICHITA, Kan. (AP) — A 69-year-old former Wichita attorney who stole hundreds of thousands of dollars from clients has been sentenced to three years in prison. Christopher O'Brien was sentenced Tuesday and was also ordered to pay $603,000 in restitution. O'Brien pleaded guilty in March to embezzling. Roger...

Today in History

Oct. 15, 2019 12:02 AM EDT

Today in History Today is Tuesday, Oct. 15, the 288th day of 2019. There are 77 days left in the year. Today's Highlight in History: On Oct. 15, 1991, despite sexual harassment allegations by Anita Hill, the Senate narrowly confirmed the nomination of Clarence Thomas to the U.S. Supreme Court, 52-48. On this...

Correction: Opioid Crisis-Purdue story

Oct. 14, 2019 4:55 PM EDT

WHITE PLAINS, N.Y. (AP) — In a story Oct. 11 about Purdue Pharma's bankruptcy case, The Associated Press reported erroneously the first name of the judge handling the case. It is Robert Drain, not Roberts Drain. A corrected version of the story is below: Judge will halt lawsuits against Purdue Pharma, its...

The Latest: Lawsuits paused against Purdue Pharma, Sacklers

Oct. 11, 2019 5:54 PM EDT

The Latest on the Purdue Pharma's bankruptcy case (all times local): 5:50 p.m. A judge has agreed to pause lawsuits against Purdue Pharma and the OxyContin maker's owners until next month with the intention of stopping suits longer so a settlement can be worked out to nearly 2,600 suits against the company. U.S....