Tag Archives: bankruptcy

Placeholder while article actions load Google’s Moscow-based subsidiary plans to file for bankruptcy, a company spokesperson said Wednesday, because Russia’s seizure of its assets has made it impossible to run its business in the country. It has also moved most of its employees out of the country, the company confirmed. The tech giant submitted a notice of intention to declare itself bankrupt, according to Reuters, which cited a filing in Russia’s federal register. Services such as… Source link

May 18 (Reuters) – The Russian subsidiary of Alphabet Inc’s (GOOGL.O) Google has filed for insolvency, according to a message posted on Russia’s official registry Fedresurs on Wednesday. The subsidiary was “submitting a notice of the intention to declare itself insolvent (bankrupt)”, the note said. “Since March 22, 2022, it foresees its own bankruptcy and inability to fulfil its monetary obligations, demands to pay severance payments and (or) the remuneration of staff working or previously… Source link

A California woman with more than $350,000 in student debt served as her own lawyer in personal bankruptcy and saw 98% of her loans discharged in the latest case in a growing trend. Court filings show that the Education Department (ED) and the Los Angeles-based woman, Mis Loe, agreed on August 30 that Loe would pay $7,200 of her $356,637.82 in outstanding loans (at a fixed monthly rate of $60 for 10 years or until October 1, 2031). Once Loe completes the $7,200 payment by October 2031,… Source link

While some progressive Democrats continue to push the president to cancel student loan debt, there’s a bipartisan effort underway to overhaul the student loan system in another way: by making bankruptcy discharges more accessible for student debtors. Senate Majority Whip Dick Durbin (D-IL), who chairs the Senate Judiciary Committee, and Senator John Cornyn (R-TX) announced a new bill called the “FRESH START Through Bankruptcy Act of 2021” last week to better enable borrowers to seek a student… Source link

Student borrowers with certain types of private loans inched closer to being able to discharge that debt in bankruptcy after a New York court ruling. On Thursday, the U.S. Court of Appeals for the Second Circuit sided with student debtor Hilal Homaidan against student loan giant Navient (NAVI), which had argued that private student loans could not be erased under the existing bankruptcy laws. A three-judge panel determined that certain private student loans can be discharged in certain cases… Source link

(Bloomberg) — Washington Prime Group Inc., a real estate investment trust that operates enclosed malls and strip centers across the U.S., filed for bankruptcy after the Covid-19 pandemic curtailed in-person shopping. The Chapter 11 filing in Houston will allow Washington Prime to continue operating while it seeks to implement a restructuring agreement that it reached with certain creditors, according to a board resolution filed with the bankruptcy petition. The company, which estimated its… Source link

The New York Times ‘No Victory Dance’: Veterans of Afghan War Feel Torn Over Pullout Was it worth it? After two decades of midnight watches and gut-twisting patrols down bomb-riddled roads, after all the deaths and bloodshed and lost years, that was the one inescapable question on Wednesday among many of the 800,000 Americans who have served in Afghanistan since 2001. “There’s no easy answer, no victory dance, no ‘we were right and they were wrong,’” said Jason Dempsey, 49, who… Source link

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said Thursday that his electric vehicle firm and Ford Motor Company (NYSE: F) were the only American carmakers not to have gone bankrupt out of the thousands of startups operating in the industry. What Happened: Musk reasoned on Twitter that while “prototypes are easy, production is hard [and] being cash flow positive is excruciating.” The entrepreneur also reacted to Twitter users who posted on the rivalry between the two companies’ trucks. Why It… Source link

Bloomberg Hertz to Sell to Knighthead, Certares to Exit Bankruptcy (Bloomberg) — Hertz Global Holdings Inc. received a bid from Knighthead Capital Management and Certares Management to purchase the rental-car company out of bankruptcy for as much as $4.2 billion, according to court documents.Under the plan, Knighthead and Certares would take control of Hertz when it emerges from its Chapter 11 reorganization, with the final value of the deal dependent on how much existing lenders participate… Source link

The Guardian A Texas city had a bold new climate plan – until a gas company got involved The fossil fuel industry is using the same playbook to fight city climate plans around the country People wait in long lines at HEB grocery store in Austin, Texas, on 17 February. Photograph: Montinique Monroe/Getty Images When the city of Austin drafted a plan to shift away from fossil fuels, the local gas company was fast on the scene to try to scale back the ambition of the effort. Like many cities… Source link