Latest Corporate bankruptcy News

Group seeks to convert old railroad line to recreation trail

Oct. 19, 2021 12:38 PM EDT

PIERRE, S.D. (AP) — Advocates of a new outdoor recreational project in southeast South Dakota are asking state regulators for permission to convert an old railroad line into a trail for cyclists, hikers and horseback riders. The Friends of the Tabor to Platte Rail to...

After Alitalia's demise, ITA airline launches with new look

Oct. 15, 2021 12:02 PM EDT

ROME (AP) — Italy’s new national airline, ITA Airways, flew its inaugural flights Friday and unveiled its brand and logo, recycling the red, white and green of its Alitalia origins as it tries to chart a new future while competing with low-cost airlines. ITA, or Italy...

Today in History

Oct. 15, 2021 00:04 AM EDT

Today in History Today is Friday, Oct. 15, the 288th day of 2021. 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...

Alitalia makes final flights but ITA buys the Alitalia brand

Oct. 14, 2021 16:25 PM EDT

ROME (AP) — Italy’s bankrupt national airline, Alitalia, made its final flights Thursday before formally folding, marking the end of business for the 74-year-old carrier and an end of an era for Italy. A flight attendant at Rome's Fiumicino-Leonardo da Vinci Airport...

Judge: Purdue Pharma can resume groundwork on its settlement

Oct. 13, 2021 20:53 PM EDT

A federal judge on Wednesday allowed Purdue Pharma to resume its work carrying out the recent $10 billion settlement plan that allowed the Oxycontin maker to emerge from bankruptcy. The decision from U.S. District Court Judge Colleen McMahon denied a request from an arm...

North Dakota oil executive pleads guilty in fraud scheme

Oct. 13, 2021 16:24 PM EDT

BISMARCK, N.D. (AP) — A former North Dakota oilfield executive pleaded guilty Wednesday to fraud charges for misleading shareholders about his company's value, in a scheme that eventually forced it to go bankrupt and led to more than $886 million in losses. Joseph...

Opponents target Ted Budd, Trump's choice in GOP Senate race

Oct. 05, 2021 12:35 PM EDT

MOUNT AIRY, N.C. (AP) — Former President Donald Trump's endorsement has Rep. Ted Budd playing defense in North Carolina's GOP Senate primary, as opponents accuse him of benefiting from a bankruptcy that cost farmers millions and being beholden to a conservative political action committee. ...

Saudi conglomerate to repay $1.9B to banks after law change

Sep. 15, 2021 11:50 AM EDT

DUBAI, United Arab Emirates (AP) — A Saudi company that owes billions of dollars will pay banks back $1.9 billion after an agreement was reached with creditors following more than decade of efforts, according to a news report on Wednesday. The website of the Abu...

Editorial Roundup: Pennsylvania

Sep. 08, 2021 09:04 AM EDT

Philadelphia Inquirer. Sept. 6, 2021. Editorial: 20 years after 9/11, reflecting on grief, justice, and vengeance By the time the sun set on the evening of Sept. 11, 2001, a wounded, grieving nation wept. The full magnitude of the loss of life...

US reaches deal with former state health care contractor

Aug. 26, 2021 14:08 PM EDT

WILMINGTON, Del. (AP) — Federal prosecutors have reached consent judgments with a company accused of fraud while providing mental health and substance abuse treatment services at community clinics throughout Delaware, authorities said Thursday. Connections Community...