Tag #Bankruptcy

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cbsnews.com

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Apr 3, 22:16

Debt Relief Options for High-Debt Individuals

High inflation and interest rates are making it difficult for people with significant debt to get ahead; credit counseling, debt forgiveness and bankruptcy are presented as options to alleviate financial distress for those owing \$10,000 or more.

Debt Relief Options for High-Debt Individuals

High inflation and interest rates are making it difficult for people with significant debt to get ahead; credit counseling, debt forgiveness and bankruptcy are presented as options to alleviate financial distress for those owing \$10,000 or more.

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How do credit counseling and debt settlement differ in their approaches, timelines, and long-term consequences for credit scores?

Credit counseling agencies negotiate lower interest rates (averaging 7-8%) and monthly payments with creditors, often waiving fees. Debt settlement involves negotiating a lower payoff amount but may result in lawsuits if funds aren't available and negatively impacts credit scores for seven years. Bankruptcy offers legal debt discharge but incurs filing and attorney fees.

theguardian.com

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Apr 2, 16:09

Judge Defies Recommendation, Removes Clergy Abuse Survivors from Settlement Committee

A judge overseeing the bankruptcy of the New Orleans Catholic archdiocese removed four clergy abuse survivors from a settlement negotiation committee, defying a US trustee's recommendation and sealing a report that investigated their attorney for violating a confidentiality order; survivors have los...

Judge Defies Recommendation, Removes Clergy Abuse Survivors from Settlement Committee

A judge overseeing the bankruptcy of the New Orleans Catholic archdiocese removed four clergy abuse survivors from a settlement negotiation committee, defying a US trustee's recommendation and sealing a report that investigated their attorney for violating a confidentiality order; survivors have los...

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What are the immediate consequences of Judge Grabill's decision to remove the abuse survivors from the settlement negotiation committee?

Four survivors of clergy abuse were ousted from a committee negotiating a settlement in the New Orleans Archdiocese bankruptcy. Judge Meredith Grabill ignored a US trustee's recommendation against their removal, a decision now criticized as undermining their trust in the judicial process and potentially delaying the bankruptcy resolution. This action follows the sealing of a report that investigated the survivors' attorney for allegedly violating a confidentiality order.

bbc.com

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Apr 1, 07:18

Vietnam's Renewable Energy Sector Faces Bankruptcies Over EVN's Price Changes

Vietnam's EVN plans to retroactively change electricity prices for 173 solar and wind power projects, potentially causing widespread bankruptcies and \$7.8 billion in bad debt, according to the VCCI, which accuses EVN of violating contracts and jeopardizing future investment in renewable energy.

Vietnam's Renewable Energy Sector Faces Bankruptcies Over EVN's Price Changes

Vietnam's EVN plans to retroactively change electricity prices for 173 solar and wind power projects, potentially causing widespread bankruptcies and \$7.8 billion in bad debt, according to the VCCI, which accuses EVN of violating contracts and jeopardizing future investment in renewable energy.

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Affordable and Clean Energy

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How do the proposed changes in electricity pricing impact foreign investment and Vietnam's broader economic goals?

The Vietnam Chamber of Commerce and Industry (VCCI) has warned that EVN's plan to revise electricity prices retroactively violates contracts and threatens the financial viability of numerous renewable energy projects. This action contradicts Vietnam's commitment to attracting foreign investment in renewable energy and its goal of becoming a high-tech manufacturing hub. The VCCI letter highlights that these projects, totaling \$15 billion in investment, rely on previously agreed-upon electricity prices.

edition.cnn.com

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Mar 31, 10:10

23andMe Files for Bankruptcy Amid Data Privacy Concerns

23andMe, a genetic testing service with 15 million customers, filed for Chapter 11 bankruptcy on March 23, 2025, due to declining revenue and mounting losses since its 2021 IPO, prompting concerns about the privacy of user data amid a potential sale.

23andMe Files for Bankruptcy Amid Data Privacy Concerns

23andMe, a genetic testing service with 15 million customers, filed for Chapter 11 bankruptcy on March 23, 2025, due to declining revenue and mounting losses since its 2021 IPO, prompting concerns about the privacy of user data amid a potential sale.

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What are the long-term implications of 23andMe's bankruptcy for data privacy in the consumer genetic testing market?

The bankruptcy filing highlights the inherent risks and vulnerabilities of consumer genetic data. Growing privacy concerns, amplified by a recent data breach and the potential sale of the company, have prompted legal action, including calls from state attorneys general for customers to delete their data. The surge in help page visits regarding data deletion underscores these concerns and the challenging regulatory landscape facing the genetic testing industry.

cnn.com

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Mar 30, 16:08

23andMe Files for Bankruptcy Amidst Data Breach and Financial Struggles

23andMe, a genetic testing company with 15 million customers, filed for Chapter 11 bankruptcy on March 23, 2025, due to declining revenue, a data breach, and an unsustainable business model; the company is facing calls for data deletion from concerned customers and regulators.

23andMe Files for Bankruptcy Amidst Data Breach and Financial Struggles

23andMe, a genetic testing company with 15 million customers, filed for Chapter 11 bankruptcy on March 23, 2025, due to declining revenue, a data breach, and an unsustainable business model; the company is facing calls for data deletion from concerned customers and regulators.

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How did 23andMe's business model and financial performance contribute to its current crisis?

The company's struggles stem from a lagging growth in new subscriptions and an unsustainable business model heavily reliant on direct-to-consumer sales of genetic testing kits. Despite a past collaboration with GSK and a substantial investment, 23andMe has consistently reported substantial net losses, totaling $666 million last fiscal year and $174 million in the first nine months of fiscal 2025. This financial instability, coupled with the data breach, has fueled consumer concerns and calls for data deletion.

zeit.de

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Mar 29, 07:13

Brandenburg Insolvencies Rise 9%, Sparking Policy Debate

Brandenburg experienced a 9% increase in insolvencies in 2024, totaling 3,680 cases and affecting 3,176 employees, prompting debate over economic support policies, with the SPD focusing on infrastructure investment and the AfD advocating for an end to Russia sanctions.

Brandenburg Insolvencies Rise 9%, Sparking Policy Debate

Brandenburg experienced a 9% increase in insolvencies in 2024, totaling 3,680 cases and affecting 3,176 employees, prompting debate over economic support policies, with the SPD focusing on infrastructure investment and the AfD advocating for an end to Russia sanctions.

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How do differing political viewpoints influence the proposed solutions to the rising insolvency rates in Brandenburg?

The rise in insolvencies has sparked debate over economic support policies. While the SPD's Minister Keller emphasizes infrastructure investment and reduced bureaucracy to stimulate growth, the AfD blames sanctions against Russia and calls for their end, along with lower energy costs and reduced bureaucracy.

jpost.com

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Apr 2, 04:14

23andMe Bankruptcy: 15 Million Users' Genetic Data Up for Sale

Bankrupt ancestry company 23andMe is selling its database of 15 million users' genetic information, including data from Ashkenazi Jews, prompting privacy concerns and calls to delete data due to the company's poor data security record and undisclosed data-sharing agreements.

23andMe Bankruptcy: 15 Million Users' Genetic Data Up for Sale

Bankrupt ancestry company 23andMe is selling its database of 15 million users' genetic information, including data from Ashkenazi Jews, prompting privacy concerns and calls to delete data due to the company's poor data security record and undisclosed data-sharing agreements.

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What are the immediate consequences of 23andMe selling its genetic data, especially for the 15 million users whose data is now at risk?

23andMe, declared bankrupt last week after a data breach lawsuit, is selling its database containing the genetic information of 15 million people, including many Ashkenazi Jews. This raises serious privacy concerns, especially given the company's history of data security issues and undisclosed data-sharing agreements. Privacy experts urge users to delete their data immediately.

cbsnews.com

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Apr 2, 22:16

Consequences of Unsecured Loan Default and Available Debt Relief Options

Defaulting on an unsecured loan leads to late fees, credit score damage, collection calls, potential lawsuits, and impacts future credit and employment; however, debt consolidation, forgiveness, management, or bankruptcy offer potential solutions.

Consequences of Unsecured Loan Default and Available Debt Relief Options

Defaulting on an unsecured loan leads to late fees, credit score damage, collection calls, potential lawsuits, and impacts future credit and employment; however, debt consolidation, forgiveness, management, or bankruptcy offer potential solutions.

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What options exist for resolving unmanageable unsecured loan debt?

The severity of consequences for unsecured loan default rises progressively: initial penalties lead to credit damage, then aggressive collections, and finally, legal action with significant financial and career repercussions. Understanding this progression is vital for proactive debt management.

elpais.com

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Apr 1, 07:18

Judge Rejects Johnson & Johnson's Third Bankruptcy Attempt over Talc Lawsuits

A US federal judge rejected Johnson & Johnson's third attempt to use bankruptcy to create a $11 billion trust fund for women claiming talc-related cancer, citing irregularities in the approval process where only 75% of claimants approved the deal. The judge stated that the best course of action was ...

Judge Rejects Johnson & Johnson's Third Bankruptcy Attempt over Talc Lawsuits

A US federal judge rejected Johnson & Johnson's third attempt to use bankruptcy to create a $11 billion trust fund for women claiming talc-related cancer, citing irregularities in the approval process where only 75% of claimants approved the deal. The judge stated that the best course of action was ...

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What were the key reasons behind the judge's rejection of Johnson & Johnson's bankruptcy plan to address talc-related lawsuits?

A US federal judge rejected Johnson & Johnson's third attempt to use bankruptcy to create a multibillion-dollar trust fund for women claiming talc-related cancer. The company offered $6.475 billion (or $9 billion over 25 years) for ovarian cancer claims, totaling approximately $11 billion with other claims. This was rejected due to irregularities in the approval process, where only 75% of claimants approved the deal, according to Judge Christopher Lopez's 57-page ruling.

edition.cnn.com

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Mar 30, 16:09

23andMe's Bankruptcy Filing Raises Privacy Concerns Over Genetic Data

23andMe, a genetic testing company with 15 million customers, filed for Chapter 11 bankruptcy on March 23, prompting privacy concerns about its vast genetic data, which is valuable for marketing and medical research, despite existing legal protections like the Genetic Information Nondiscrimination A...

23andMe's Bankruptcy Filing Raises Privacy Concerns Over Genetic Data

23andMe, a genetic testing company with 15 million customers, filed for Chapter 11 bankruptcy on March 23, prompting privacy concerns about its vast genetic data, which is valuable for marketing and medical research, despite existing legal protections like the Genetic Information Nondiscrimination A...

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How might the sale of 23andMe's genetic database impact marketing practices and healthcare research, given its potential for personalized approaches?

The sale of 23andMe's genetic data raises significant privacy concerns, especially given its potential uses in marketing, healthcare research, and personalized medicine. Experts highlight the data's enduring value and the lack of comprehensive regulations to prevent misuse. The Genetic Information Nondiscrimination Act offers limited protection, leaving gaps in areas like disability insurance.

zeit.de

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Mar 29, 01:13

Trump Pardons Fraud-Convicted Nikola Founder

Former US President Donald Trump pardoned Trevor Milton, the founder of bankrupt electric truck maker Nikola, who was convicted of fraud in 2022 for misleading investors about the company's technology, despite a recent court request for $661 million in restitution to shareholders; Nikola subsequentl...

Trump Pardons Fraud-Convicted Nikola Founder

Former US President Donald Trump pardoned Trevor Milton, the founder of bankrupt electric truck maker Nikola, who was convicted of fraud in 2022 for misleading investors about the company's technology, despite a recent court request for $661 million in restitution to shareholders; Nikola subsequentl...

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What role did false advertising and misleading statements play in Nikola's downfall, and how did these actions impact investors and creditors?

The pardon comes after Milton's 2022 conviction for misleading investors about Nikola's technology, including staging a video of a truck rolling downhill to simulate movement. The Justice Department had recently sought $661 million in restitution from Milton to shareholders. Milton's $2 million in political donations, largely to Trump's Republican Party, adds another layer to the controversy.

nos.nl

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Mar 28, 22:10

Bax Music Files for Bankruptcy

Bax Music, the largest online music retailer in the Benelux, filed for bankruptcy protection due to substantial debt stemming from internal shareholder conflicts, the COVID-19 pandemic's impact on the music industry, and a €10 million fire.

Bax Music Files for Bankruptcy

Bax Music, the largest online music retailer in the Benelux, filed for bankruptcy protection due to substantial debt stemming from internal shareholder conflicts, the COVID-19 pandemic's impact on the music industry, and a €10 million fire.

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What are the immediate consequences of Bax Music's bankruptcy filing for its employees, customers, and suppliers?

Bax Music, a prominent Benelux music retailer, has filed for bankruptcy protection. This follows a disagreement among shareholders regarding a restructuring plan and the sale of the company. The company, known for its large online presence and physical store, cites the impact of the COVID-19 pandemic and a significant fire as contributing factors.

Showing 85 to 96 of 204 results