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Stories 1 - 20 |
Alex Jones Battles
for $1.3M Salary
Dec 20, 2022 12:53 PM CST
In Bankruptcy, Alex Jones Battles for $1.3M Salary
He asks judge to order Infowars' parent firm to go back to paying him $54K biweekly, up from $20K
- A salary of $10,000 a week isn't enough for a bankrupt Alex Jones, who has asked a judge for almost three times that amount. The Infowars host on Monday requested that federal bankruptcy Judge Christopher Lopez restore the $1.3 million annual salary he received from Infowars' parent...
Alex Jones Files
Dec 2, 2022 10:37 AM CST
Alex Jones Files for Bankruptcy
He claims his liabilities are a thousand times higher than his assets
- Alex Jones, whose critics have long accused him of being morally bankrupt, has filed for personal bankruptcy. In a Chapter 11 bankruptcy filing Friday in the southern district of Texas, the Infowars founder cited assets between $1 million and $10 million and debts one thousand times that, between $1 billion...
Collapse of Crypto Exchange
Is Taking a Toll on Bitcoin
Nov 11, 2022 9:40 AM CST
Collapse of Crypto Exchange Is Taking a Toll on Bitcoin
FTX files for bankruptcy, and the drama is hurting the value of the top cryptocoin
- Embattled cryptocurrency exchange FTX—short billions of dollars—is seeking bankruptcy protection following its collapse this week. Meanwhile, FTX and its CEO and founder Sam Bankman-Fried are under investigation by the DOJ and the SEC to determine whether any criminal activity or securities offenses were committed, per the AP . The...
Judge Approves $2.46B Plan
in Abuse Case Against Scouts
Sep 8, 2022 6:50 PM CDT
Judge Approves $2.46B Plan in Abuse Case Against Scouts
More than 80,000 men have filed claims
- A bankruptcy judge on Thursday approved a $2.46 billion reorganization plan proposed by the Boy Scouts of America, which would allow it to keep operating while compensating tens of thousands of men who say they were sexually abused as children while involved in Scouting. Although legal hurdles remain, the...
Files for Bankruptcy
Jul 14, 2022 8:26 AM CDT
Cryptocurrency Lender Files for Bankruptcy
It could take years for Celsius customers to get any money back
- One of the biggest cryptocurrency lenders has become the latest industry giant to be toppled by this year's massive crash in crypto prices. Celsius Networks, which froze customer accounts a month ago, has filed for Chapter 11 bankruptcy protection and it's not clear when, or if, its customers...
New Mega Cruise Ship No One
Wants Is Headed for Scrapyard
Jun 22, 2022 12:40 PM CDT
New Mega Cruise Ship No One Wants Is Headed for Scrapyard
Owner of unfinished Global Dream II files for bankruptcy, without a buyer for vessel
- The Global Dream II's maiden voyage will be one its builders probably didn't anticipate: from the shipyard to the scrapyard. Intended to be "one of the world's largest liners," the cruise ship was designed to transport 9,000 passengers and was nearing completion in a...
A Cosmetics Giant
Files for Bankruptcy
Jun 16, 2022 11:59 AM CDT
A Cosmetics Giant Files for Bankruptcy
Iconic Revlon is struggling to deal with debt, supply issues, changing tastes
- Revlon, the 90-year-old multinational cosmetics company, has filed for Chapter 11 bankruptcy protection, weighed down by rising debts, global supply chain disruptions, and new rivals. With household names like Almay to Elizabeth Arden, Revlon has been a mainstay on store shelves for decades, the AP reports. And it's a...
Is Going to Prison
Apr 29, 2022 10:20 AM CDT
Boris Becker Is Going to Prison
Tennis great gets 2.5 years for financial offenses
Boris Becker is going to prison. A judge in London sentenced the former tennis star to 2½ years behind bars on Friday for shady financial moves during bankruptcy, reports the AP . It could have been worse for the 54-year-old, however: He faced up to seven years for the offenses....
Apr 18, 2022 6:49 AM CDT
Infowars Files for Bankruptcy
Move by Alex Jones comes amid legal losses over his Sandy Hook hoax claims
- Alex Jones' legal and financial trouble keeps mounting. His Infowars site has filed for bankruptcy after Jones lost three lawsuits to relatives of victims in the Sandy Hook school shooting, reports Bloomberg . Jones initially spread the conspiracy theory that the shooting was a hoax, though he has since recanted. Victims'...
Tried to Conceal
Mar 22, 2022 9:20 AM CDT
Prosecutors: Boris Becker Tried to Conceal Tennis Trophies
Wimbledon champ is on trial, said to have 'acted dishonestly' in hiding assets during bankruptcy
- Former tennis champion Boris Becker went on trial Monday in London for allegedly concealing property—including nine trophies—from bankruptcy trustees and dodging his obligation to disclose financial information to settle his debts. Prosecutors said Becker, 54, "acted dishonestly" when he hid or failed to hand over assets before...
Boy Scouts Reach
in Bankruptcy Case
Jul 2, 2021 12:06 AM CDT
Boy Scouts Reach Pivotal Agreement in Bankruptcy Case
It would be one of the largest sums in US history involving sexual abuse cases
- The Boy Scouts of America have reached an $850 million agreement with attorneys representing some 60,000 victims of child sex abuse in what could prove to be a pivotal moment in the organization’s bankruptcy case, the AP reports. The settlement would mark one of the largest sums in...
Judge Shoots Down
May 11, 2021 5:32 PM CDT
Judge Shoots Down NRA Bankruptcy
He accuses 'solvent' group of trying to use filing to dodge New York lawsuit
- The National Rifle Association's attempt to use bankruptcy to leave New York and reorganize in Texas was shot down by a federal judge in Dallas Tuesday. US Bankruptcy Judge Harlin Hale, ruling after a 12-day trial that concluded May 3, said the gun rights group's bankruptcy wasn't...
Many Have Lukewarm Reaction
to OxyContin Maker's Offer
Mar 17, 2021 12:02 PM CDT
Many Have Lukewarm Reaction to OxyContin Maker's Offer
$10B plan calls for turning the pharmaceutical giant into a new company
- Some state attorneys general and opioid addiction activists pushed back Tuesday against a settlement offer from OxyContin maker Purdue Pharma, saying it didn't include enough money and goes too far in protecting the company and family members who own it from future liability. A group of nearly half the...
It's Bankruptcy Time
Nov 22, 2020 1:00 PM CST
Guitar Center: It's Bankruptcy Time
The nation's biggest musical instrument retailer files for Chapter 11
- The Guitar Center filed for Chapter 11 bankruptcy Saturday as yet another US retailer revealed its pandemic financial woes, Reuters reports. In a bankruptcy filing , the 61-year-old company said it plans to stay afloat with up to $165 million in fresh equity investments and a debt reduction of nearly $800...
Casualty of COVID
Nov 2, 2020 10:00 AM CST
Another Corporate Casualty of COVID
Friendly's restaurant chain, known for its ice cream sundaes, has filed for Chapter 11
- Friendly's Restaurants, an East Coast dining chain known for its sundaes, is filing for bankruptcy protection. The company, which runs its restaurants under the parent company FIC Restaurants Inc., will sell substantially all of its assets to the restaurant company Amici Partners Group, per the AP . All 130 of...
COVID's 'Unprecedented Impact'
Drives Another Big Bankruptcy
Oct 7, 2020 10:00 AM CDT
COVID's 'Unprecedented Impact' Drives Another Big Bankruptcy
Ruby Tuesday reduced to 236 restaurants
- Ruby Tuesday has filed for bankruptcy, partly blaming the "unprecedented impact" of the coronavirus pandemic, though it was struggling well before March. The classic American dining chain will permanently shutter 185 restaurants across the US, according to a Wednesday release. Another 236 restaurants will continue operating. "This announcement...
JCPenney Nearly Sold
After 'Screaming Matches'
Sep 9, 2020 4:48 PM CDT
JCPenney Nearly Sold After 'Screaming Matches'
The department store chain negotiates a $1.75B deal
- Looks like JCPenney has found itself a buyer. The dying department store chain—which filed for Chapter 11 bankruptcy protection back in May—has struck a tentative deal with a group of lenders and mall owners,
reports. Brookfield Property Partners, Simon Property Group, and bankruptcy lenders are expected...
Aug 3, 2020 12:45 AM CDT
'Nation's First Department Store' Files for Bankruptcy
Lord & Taylor files for Chapter 11
- Another big retail name is going under amid the coronavirus pandemic: Lord & Taylor filed for Chapter 11 bankruptcy protection Sunday. However, as the
New York Times
reports, the department store chain had been struggling even before COVID-19. Clothing rental start-up Le Tote bought Lord & Taylor last year, and...
COVID Brings Another
Retailer to Chapter 11
Jul 23, 2020 11:44 AM CDT
COVID Brings Another Retailer to Chapter 11
Parent company of Ann Taylor, Lane Bryant seeks bankruptcy protection
- The pandemic has pushed another big-name retailer into bankruptcy. The parent company of Ann Taylor and Lane Bryant filed for Chapter 11 protection on Thursday. The Ascena Retail Group plans to close about 1,100 stories across the country, including all of its Catherines stores and many of its Justice...
200-Year-Old Firm Becomes
Latest Pandemic Victim
Jul 8, 2020 2:44 PM CDT
200-Year-Old Firm Becomes Latest Pandemic Victim
Brooks Brothers has filed for bankruptcy
- Brooks Brothers, the 200-year-old company that dressed nearly every US president, filed for bankruptcy protection Wednesday, the latest major clothing seller to be toppled by the coronavirus pandemic. Founded in New York in 1818, Brooks Brothers survived two world wars and the Great Depression and even managed to stay afloat...
Stories 1 - 20 |
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