Tag #Bankruptcy

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dailymail.co.uk

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Sep 22, 04:16

Alabama Nursing Home Closure Highlights US Healthcare Crisis

Federal and state regulators shut down Magnolia Ridge, a 148-bed nursing home in Glendale, Alabama, impacting 100 patients, due to sustained poor performance and the parent company Genesis Healthcare's bankruptcy.

Alabama Nursing Home Closure Highlights US Healthcare Crisis

Federal and state regulators shut down Magnolia Ridge, a 148-bed nursing home in Glendale, Alabama, impacting 100 patients, due to sustained poor performance and the parent company Genesis Healthcare's bankruptcy.

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How did Genesis Healthcare's financial struggles contribute to Magnolia Ridge's closure?

Genesis Healthcare, facing $8 million in monthly lawsuit costs due to alleged negligence, filed for bankruptcy in July. While the closure isn't directly linked to the bankruptcy, Genesis chose not to contest the regulators' decision, highlighting the severity of the facility's issues.

cbsnews.com

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Sep 18, 04:16

Rising US Credit Card Debt Fuels Demand for Debt Relief Options

With US credit card debt exceeding \$1.2 trillion in Q2 2025, many Americans are exploring debt relief strategies like consolidation, credit counseling, debt settlement, and bankruptcy due to high-interest rates and financial strain.

Rising US Credit Card Debt Fuels Demand for Debt Relief Options

With US credit card debt exceeding \$1.2 trillion in Q2 2025, many Americans are exploring debt relief strategies like consolidation, credit counseling, debt settlement, and bankruptcy due to high-interest rates and financial strain.

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What are the main debt relief options available to consumers, and what are their key features?

Debt relief options include debt consolidation (combining debts into one loan), credit counseling (creating a debt management plan), debt settlement (negotiating a lower payoff amount), and bankruptcy (legal debt elimination or restructuring). Each offers varying degrees of immediate relief but impacts credit scores and long-term financial health differently.

nos.nl

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Sep 8, 22:22

Dutch Municipalities Seek Legal Action Against Bankrupt Groupcard

Over 120 Dutch municipalities are exploring legal action against the bankrupt Groupcard company, aiming to recover funds totaling nearly a million euros intended for social programs; the company lacked necessary licenses and misappropriated funds held in trust.

Dutch Municipalities Seek Legal Action Against Bankrupt Groupcard

Over 120 Dutch municipalities are exploring legal action against the bankrupt Groupcard company, aiming to recover funds totaling nearly a million euros intended for social programs; the company lacked necessary licenses and misappropriated funds held in trust.

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What is the immediate impact of Groupcard's bankruptcy on participating municipalities?

The bankruptcy of Groupcard has resulted in the loss of approximately one million euros across numerous municipalities. These funds were allocated for social programs benefiting low-income residents, intended for initiatives like purchasing energy-efficient appliances and home insulation. Municipalities are now facing financial shortfalls and disrupted social programs.

t24.com.tr

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Sep 2, 13:20

Turkish Companies' Bankruptcy Filings Surge Amidst Economic Hardship

Amidst a tightening market, Turkish companies filed 1,833 bankruptcy petitions in the first eight months of 2025, exceeding the total number of filings for all of 2024 (1,723), indicating a significant increase in financial distress.

Turkish Companies' Bankruptcy Filings Surge Amidst Economic Hardship

Amidst a tightening market, Turkish companies filed 1,833 bankruptcy petitions in the first eight months of 2025, exceeding the total number of filings for all of 2024 (1,723), indicating a significant increase in financial distress.

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How has the number of bankruptcy-related court decisions changed in 2025 compared to 2024?

Provisional injunctions for bankruptcy increased by 87% year-on-year (1,833 in 2025 vs. 1,723 in 2024). Final injunctions also rose by 188%, reaching 1,040. Conversely, confirmation rulings, indicating the approval of a bankruptcy plan, decreased by 12%.

theglobeandmail.com

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Aug 30, 04:15

Spirit Airlines Re-enters Bankruptcy

Spirit Airlines, a Florida-based budget carrier, filed for Chapter 11 bankruptcy protection for the second time in a year, citing mounting losses and dwindling cash despite a previous restructuring effort.

Spirit Airlines Re-enters Bankruptcy

Spirit Airlines, a Florida-based budget carrier, filed for Chapter 11 bankruptcy protection for the second time in a year, citing mounting losses and dwindling cash despite a previous restructuring effort.

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What were the primary financial reasons behind Spirit Airlines' second bankruptcy filing?

Spirit Airlines reported a $246 million net loss in the three months ending June, and faced a cash crunch, borrowing its entire $275 million revolving credit facility. The company's operating expenses reached 118% of its revenue, indicating a failure to address its cost structure.

us.cnn.com

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Aug 30, 04:15

Spirit Airlines Re-enters Chapter 11 Bankruptcy

Spirit Airlines, a U.S. budget carrier, filed for Chapter 11 bankruptcy protection on Friday, citing dwindling cash and losses despite a previous restructuring in March, impacting flights and operations.

Spirit Airlines Re-enters Chapter 11 Bankruptcy

Spirit Airlines, a U.S. budget carrier, filed for Chapter 11 bankruptcy protection on Friday, citing dwindling cash and losses despite a previous restructuring in March, impacting flights and operations.

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What is the immediate impact of Spirit Airlines' bankruptcy filing on its operations and customers?

Spirit Airlines' flight operations, ticket sales, and reservations will continue. However, the bankruptcy filing introduces uncertainty for the airline's future and could affect customers through potential changes in services or fares.

forbes.com

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Sep 21, 07:18

Tenth Circuit Affirms Denial of Discharge for Fraudulent Transfers to Oklahoma Wealth Preservation Trust

The Tenth Circuit affirmed a bankruptcy court's denial of discharge to Dustin Wheeler for pre-petition transfers of two properties to his Oklahoma wealth preservation trust, finding the transfers violated Bankruptcy Code § 727(a)(2)(A) despite their low value and Wheeler's claim of replenishing the ...

Tenth Circuit Affirms Denial of Discharge for Fraudulent Transfers to Oklahoma Wealth Preservation Trust

The Tenth Circuit affirmed a bankruptcy court's denial of discharge to Dustin Wheeler for pre-petition transfers of two properties to his Oklahoma wealth preservation trust, finding the transfers violated Bankruptcy Code § 727(a)(2)(A) despite their low value and Wheeler's claim of replenishing the ...

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How did the court address Wheeler's claims regarding trust replenishment and the advice of counsel?

The court noted that Oklahoma law no longer requires trust replenishment and that any transfer under the WPT statute is subject to the UFTA. The court dismissed the 'advice of counsel' defense because Wheeler failed to disclose a judgment against him, rendering that advice potentially flawed and irrelevant.

cnn.com

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Sep 12, 13:23

Tricolor Auto Lending Bankruptcy: Limited Systemic Risk, Significant Borrower Impact

Tricolor, a major subprime auto lender focusing on borrowers lacking credit history or social security numbers, filed for bankruptcy, planning liquidation; this impacts borrowers and Tricolor's investors, but poses minimal threat to the broader financial system.

Tricolor Auto Lending Bankruptcy: Limited Systemic Risk, Significant Borrower Impact

Tricolor, a major subprime auto lender focusing on borrowers lacking credit history or social security numbers, filed for bankruptcy, planning liquidation; this impacts borrowers and Tricolor's investors, but poses minimal threat to the broader financial system.

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What is the immediate impact of Tricolor's bankruptcy on borrowers and investors?

Tricolor's bankruptcy directly affects its borrowers, many of whom are undocumented immigrants, potentially leading to vehicle repossession. Investors, including JPMorgan Chase, Barclays, and Fifth Third Bank, face financial losses; Fifth Third expects a charge of up to $200 million.

theguardian.com

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Sep 8, 22:21

New Orleans Archdiocese Raises Clergy Abuse Settlement Offer to $230 Million

The Roman Catholic Archdiocese of New Orleans increased its settlement offer for clergy sexual abuse victims from $180 million to $230 million, with the possibility of further increases pending negotiations with its insurer, Travelers.

New Orleans Archdiocese Raises Clergy Abuse Settlement Offer to $230 Million

The Roman Catholic Archdiocese of New Orleans increased its settlement offer for clergy sexual abuse victims from $180 million to $230 million, with the possibility of further increases pending negotiations with its insurer, Travelers.

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What is the immediate impact of the increased settlement offer on the clergy abuse victims?

The $230 million offer, exceeding the initial $180 million, provides a minimum payment to victims. However, some attorneys still advise rejection, aiming for $300 million and pursuing additional funds from Travelers. The offer aims to appease a significant group of victims who were previously advised to reject the lower amount.

lefigaro.fr

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Sep 2, 13:19

Tupperware France Exits Safeguard Procedure, Targets €100M Revenue

Tupperware France, acquired in March by entrepreneur Cédric Meston, has exited its safeguard procedure and aims to reach €100 million in revenue by year-end, expanding across five European markets.

Tupperware France Exits Safeguard Procedure, Targets €100M Revenue

Tupperware France, acquired in March by entrepreneur Cédric Meston, has exited its safeguard procedure and aims to reach €100 million in revenue by year-end, expanding across five European markets.

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How does Tupperware France plan to achieve its ambitious revenue target?

Tupperware France plans to achieve its target by re-engaging its independent sales network, aiming to remobilize over 20,000 consultants across Europe (2,500 in France). The company also intends to diversify its product line beyond plastic containers, offering stainless steel and glass alternatives.

npr.org

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Aug 30, 16:17

Spirit Airlines Re-enters Bankruptcy

Budget airline Spirit Airlines filed for a second bankruptcy protection on Friday, citing challenges in rebounding from the pandemic and facing increased competition, despite previous restructuring efforts.

Spirit Airlines Re-enters Bankruptcy

Budget airline Spirit Airlines filed for a second bankruptcy protection on Friday, citing challenges in rebounding from the pandemic and facing increased competition, despite previous restructuring efforts.

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What is the immediate impact of Spirit Airlines' second bankruptcy filing on its operations and customers?

Spirit Airlines plans to continue normal operations during the restructuring, ensuring that flights remain operational, and customers can still book trips and use their tickets, credits, and loyalty points. Employees and contractors will also continue to receive their payments.

abcnews.go.com

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Aug 30, 01:17

Spirit Airlines Files for Chapter 11 Bankruptcy Again

Spirit Airlines, a Florida-based budget airline, has voluntarily filed for Chapter 11 bankruptcy for the second time in less than a year, citing the need for a comprehensive restructuring to address its financial and operational challenges and improve its long-term success.

Spirit Airlines Files for Chapter 11 Bankruptcy Again

Spirit Airlines, a Florida-based budget airline, has voluntarily filed for Chapter 11 bankruptcy for the second time in less than a year, citing the need for a comprehensive restructuring to address its financial and operational challenges and improve its long-term success.

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What is the immediate impact of Spirit Airlines' Chapter 11 filing?

Spirit Airlines' Chapter 11 filing will allow the airline to restructure its finances and operations under court supervision. The airline assures customers that Labor Day travel will not be impacted and that flights will operate normally. The restructuring plans include a redesign of its network, fleet optimization, cost reduction, and strategic realignment to better compete.

Showing 1 to 12 of 204 results