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Latest News for: Bankrupt companies
Biblical Sunday toys have fetched $1,000
Atlantic City
20 Oct 2018
Question. For many years, I have owned a toy Noah’s Ark set that was received as a Christmas gift by my great-grandmother and her brother when they were children during the 1930s ... I am curious about the set’s maker and value ... Answer ... Although considered the largest toymaker in the world by 1912, Schoenhut was declared bankrupt in 1935. However, a year later the company was successfully re-opened and later purchased by the Trinca family ... ....
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Financier Lynn Tilton said to weigh sale of Dura Automotive
Crains Detroit Business 19 Oct 2018
The agreement involved three bankrupt investment funds Tilton and MBIA had created to originate loans for distressed companies owned by her turnaround firm ... She can resume her position if she can repay MBIA and other creditors with proceeds from selling or refinancing some of her portfolio companies ... Tilton has 25 operating companies, including Dura, MD Helicopters Inc....
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Involuntary Chapter 7 bankruptcy filing made against OneJet
Business Journal 19 Oct 2018
OneJet’s legal troubles increased this week as it was ordered to appear in U.S ... Chapter 7 bankruptcy filing involves a group of creditors petitioning the court to declare a company bankrupt. The involuntary bankruptcy involves a summons and can be contested by the company in question within 21 days. The summons was filed… ... ....
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Suit: Sears owes vendor over $800K, falsely represented finances to public
Chicago Sun-Times 19 Oct 2018
A swimwear clothing company is suing Sears Holdings Corp., claiming the now-bankrupt retail giant has skimped on paying for its merchandise ... Now, In Gear Fashions, which began business with Sears in 2012, alleges the defendants owe the clothing supplier $839,968.75 in unpaid goods and charges the company with breach of contract, unjust enrichment and fraudulent misrepresentation in the four-count lawsuit ... 28 to Oct ... But on Oct ... ....
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PLUGGING IN
The Oklahoman 19 Oct 2018
The company filed its responses on Friday to amended petitions that previously had been filed in Pittsburg County District Court by attorneys on behalf of at least two of the victims ... Say maintains the company categorically denies that it put profits over people ... "We are confident the legal process will exonerate our company.". Dakil to auction bankrupted properties ... Companies lauded for green efforts....
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Unilever to continue producing teabags after Sariwangi declared bankrupt
The Jakarta Post 18 Oct 2018
Consumer goods manufacturer PT Unilever Indonesia has said that it will continue to manufacture Sariwangi teabags after the court declared the company's manufacturers of the teabags bankrupt on Wednesday ... Unilever Indonesia corporate secretary Sancoyo Antarikso said the company was still producing the teabags with the help of a third party....
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ERP Iron Ore assets auctioned off
Duluth News Tribune 18 Oct 2018
The Minnesota and Indiana assets of bankrupt ERP Iron Ore were auctioned off Tuesday as the company entered purchase agreements with two bidders ... With ERP, Clarke had been trying to revive the bankrupt Magnetation operations since purchasing it in January 2017. The company wanted to restart pellet productions soon after closing on the sale, but ERP ......
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MoviePass Parent Company Under Investigation in New York After Fraud Accusation
The Wrap 18 Oct 2018
Shares of Helios and Matheson still sit below $1, dangerous territory for a publicly traded company ... And though there’s not a one-to-one causation for delisted companies going bankrupt, according to the SEC website, “In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange.”....
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BGR: Recent Oil Price Fall Offers Buy-In Opportunity
Seeking Alpha 18 Oct 2018
As the name implies, the BlackRock Energy & Resources Trust aims to deliver both current income and capital gains by investing in equity securities of energy and natural resources companies ... In this case, all four of the heavily-weighted companies are energy supermajors and admittedly none of them are likely to go bankrupt anytime soon, but an event such as a major oil spill is always a possibility....
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Reasons to not give up on Indian real estate
Live Mint 18 Oct 2018
In the automobile business, for instance, car manufacturers are the big boys with deep pockets and their rivals are other companies with similar traits, not roadside garage owners ... Indian software companies, which had those millions of workers, got a foot into the door at Fortune 500 companies ... The company went bankrupt in 2014 ... That was Tishman Speyer’s only project in the country and the company is now trying to exit it....
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Two big storms in two seasons. How will that affect Floridians' hurricane insurance?
Ravalli Republic
17 Oct 2018
Historically, major storms - or a string of them - have bankrupted the state's insurance firms and sent rates skyrocketing ... It would take a monster hurricane in a well-populated area to cause the kind of damage needed to raise rates statewide or bankrupt one of those companies, said Brian Schneider, senior director at Fitch Ratings. "We haven't seen a level of that loss yet that would impact these companies," he said....
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