Bankrupt Companies

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Sears stays in business: Edward Lampert's hedge fund wins bankruptcy auction, saving retailer from liquidation

Orlando Sentinel 16 Jan 2019

Sears Chairman Edward Lampert won a bankruptcy auction for the company with a plan that will keep the bankrupt retailer in business and seek to save tens of thousands of jobs, according to a person with knowledge of the discussions. Lampert's bid prevailed over competing proposals from liquidators... ....

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SBI plans to sell Essar Steel's NPAs worth over Rs 15,000 crore to recover dues

The Times of India 16 Jan 2019

In September last year, SBI had withdrawn the process of sale of debt of Essar Steel to asset reconstruction companies (ARCs) after NCLAT asked lenders of the debt-ridden firm to consider the second round bid of Numetal and mining baron Anil Agarwal-led Vedanta ... of the company....

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SBI plans to sell Essar Steel's NPAs worth over Rs 15,000 cr to recover dues

The Times of India 16 Jan 2019

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Reid brags about successfully abusing his power

Las Vegas Review-Journal 16 Jan 2019

MGM Resorts International, one of the largest companies in Nevada, was hurting during the economic downturn. The company needed a $1.2 billion loan to complete its CityCenter project, but it couldn’t get financing. Without that loan, Wall Street analysts thought MGM might go bankrupt....

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From how putting down your phone can relieve stress to beating high blood pressure by eating beetroot... TV twin doctors Dr Xand and Chris van Tulleken share their anti-ageing secrets

This is Money 16 Jan 2019

Far too many of us are addicted to our phones. Xand spent 15 hours on his phone last week and more than four hours on Twitter alone, which feels like too much, though he insists it is mostly in the bathroom or waiting in a queue ... We ourselves do all of the above ... Of course, beetroot on its own isn't going to bankrupt the big drug companies ... ....

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Pension funds for bankrupt SOEs would face Constitutional Court challenge

Business Day 15 Jan 2019

Any attempt by the government to force pension funds to invest in bankrupt state-owned companies is likely to spark a Constitutional Court challenge, says one of SA’s largest fixed-income lenders ... some state-owned companies, citing poor governance....

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Forced pension fund investments in SOEs could lead to court challenge

Business Day 15 Jan 2019

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Crypto Mining Firm Giga Watt is Officially Out of Business

BitRSS 15 Jan 2019

Giga Watt, the Bitcoin mining company that declared itself as bankrupt two months ago, is now officially out of business, owing to “non-payments.” The downfall of the company started with it filing for bankruptcy at a local court, stating that ... ....

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Sears update: Lampert puts up enhanced bid, sources say, as auction stretches to 2nd day

Chicago Tribune 15 Jan 2019

Sears Chairman Edward Lampert presented a new bid for the company on Tuesday that included some concessions as talks to save the bankrupt retailer from liquidation continue, according to people with knowledge of the discussions. The new offer includes terms that are more favorable to the department... ....

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Lampert sweetens Sears bid as auction stretches to another day

Business Journal 15 Jan 2019

Sears Holdings Corp. Chairman Eddie Lampert presented a new bid for the bankrupt retailer on Tuesday, the second day of talks to rescue the company from liquidation ... However, Lampert’s updated offer is still valued around the same as before, at more than $5 billion, the report said. The… ... ....

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Microsoft’s fonts catch out another fraudster—this time in Canada

Ars Technica 15 Jan 2019

/ The Calibri font. Don't use this if you're forging anything written before 2007. (credit. Peter Bright). You'd think that people forging documents would have learned by now ... Whoops. McGoey was CEO of Look Communications when it collapsed and left him bankrupt. The company was liquidated, and McGoey was ordered to replay $5.6 million to creditors....

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PG&E’s bankruptcy will slow California’s climate efforts

Grist 15 Jan 2019

What happens when a state’s major partner in its green makeover suddenly goes bankrupt? California is about to find out because Pacific Gas & Electric Company, the largest power utility in the state, has said it will file for Chapter 11 by the end of the month ... the company....

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No clear path for California as massive PG&E utility nears bankruptcy

Independent online (SA) 15 Jan 2019

Such legislation would also let utilities shift some future fire-related costs to consumers so long as regulators find no negligence on the companies’ part ... Legislators representing areas devastated by wildfires have opposed any bailout for PG&E, saying its investors should absorb the costs - even if that means the company is bankrupted....