bankrupt News

Business Asks Government to Act to Avert ‘Devastating’ Hit

WASHINGTON — The nation’s largest business organization is asking government leaders to act rapidly to help companies have access to cash and avert a “potentially devastating” hit to the economy as the coronavirus pandemic forces closures and quarantines worldwide. In …

Takata Triggers U.S. Car Recall for Another 10 Million Air Bags

Another 10 million air bag inflators made by now-defunct Takata Corp. must be repaired in what could be the last major wave of the auto industry’s largest-ever safety recall crisis. The callback disclosed on Wednesday represents the final phase in …

Purdue’s Sacklers Ask to Publish Defense to Clear Their Name

Purdue Pharma LP’s billionaire owners went on the offensive against what they call unfair press treatment that’s based on the false assumption they helped trigger the U.S. opioid epidemic. The Sackler family, whose bankrupt company developed the OxyContin painkiller, asked …

PG&E Wins Court Sign-Off on Fire Deals, Now Faces Governor

PG&E Corp. won court approval for two multibillion-dollar wildfire settlements that will serve as the centerpiece of the bankrupt utility giant’s restructuring plan. It’s still working on winning over California’s governor. On Tuesday, the judge overseeing PG&E’s Chapter 11 case …

PG&E Warns 750,000 Californians More Blackouts May be Near

California utility giant PG&E Corp. said it may cut the lights to more than 750,000 people across Northern California as the National Weather Service posted “red flag” warnings for high winds across the region. The bankrupt power company said Tuesday …