Not only is the current COVID-19 virus affecting the lives of the tens of thousands of global citizens that it infects and sickens, but the subsequent economic downturn is gravely affecting countless individuals who would have otherwise been “unaffected” by this disease. The market is plummeting, many non-essential businesses are ordered to close down, schools …
Continue reading “Major Airlines Seek Government Assistance to Avoid Bankruptcy”
Over 3,000 men have come forward to sue the Boy Scouts of America, claiming they were molested when they were minors, under the care of the Boy Scouts. Many more are expected to come forward, now that the Boy Scouts of America non-profit has officially filed for bankruptcy. Our Las Vegas bankruptcy lawyers note that …
Continue reading “Boy Scouts of America Files for Bankruptcy Amid a Flurry of Sexual Abuse Lawsuits”
McClatchy Co. is hoping that the recent Chapter 11 bankruptcy filing will allow the company to restructure its debts (forgiving approximately 60% of all debt) and release much of its current pension obligations. If the court accepts the offer, the new owners would be those heading the hedge fund: Chatham Asset Management LLC. They would …
Continue reading “McClatchy: America’s Second-Largest Local News Company – Files for Bankruptcy”
It seems like only yesterday, the milk industry was thriving. With clever “Got Milk” campaigns supported by celebrities, catchy phrases such as “Milk, It Does a Body Good,” and mom’s own nurturing beliefs that milk was necessary to build strong bones and teeth — children in the U.S. included milk, and milk products, into their …
Continue reading “Another U.S. Dairy Companies Files for Bankruptcy”
Celadon Group’s recent filing for Chapter 11 Bankruptcy marks the largest ever trucking sector bankruptcy in history. And it was abrupt, leaving over 3,000 drivers jobless, stranded with their rigs, and far from home. Our experienced Las Vegas bankruptcy attorneys believe this is just the beginning of a much larger industry downturn. What Led to …
Continue reading “A Trucking Company’s Demise: New Trend in The Industry?”
The founder and former CEO of Faraday Future, Jia Yueting, filed for Chapter 11 bankruptcy in a Delaware court in an attempt to tackle his long list of debts in his home country: China. The mega-wealthy businessman owes over $3 billion to 100+ creditors. His company, Faraday Future, is an American startup company focusing on …
Continue reading “Faraday Future founder files for Chapter 11 Bankruptcy; owes China $3.6 Billion”
Forever 21 may or may not be so “forever.” The teenage mall staple just filed for Chapter 11 bankruptcy and is beginning the tedious process of restructuring after a fateful past few years. Experienced Las Vegas bankruptcy lawyers say they expect to see more retailers following suit. As part of the meticulous process of restructuring, …
Continue reading “Forever 21 Owes Over $20 Million to Mall Owners”
Earlier this month, Fred’s announced its decision to file for Chapter 11 bankruptcy and the shutting down of all its retail stores. The trend continues in an increasingly digital retail world: retailer after retailer can’t adapt to the growing world of e-commerce and deplete their resources as they struggle to stay afloat. Eventually, they drown …
Continue reading “Major Retailers Heading for Bankruptcy A Growing Trend”
Barneys New York, founded nearly a century ago, is fighting to keep open its 10-story flagship Madison Avenue store, after securing $75 million in financing to pay employees and vendors, all the while seeking a buyer. Their filing for Chapter 11 bankruptcy was shocking, but not unexpected given the current retail climate. Sister stores in …
Continue reading “Iconic High-End Retailer Barneys Files for Chapter 11 Bankruptcy”
The Las Vegas Monorail project has not had an easy past. Over seven years ago, The Las Vegas Monorail Co. filed for Chapter 11 bankruptcy, wiping out 98 percent of bondholder’s money. However, as of this month, the LV Monorail is planning to return to the municipal-bond market and has listed almost $20 million in …
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