bankruptcy plan News

Judge Begins Key Hearing on Boy Scouts Bankruptcy Plan

DOVER, Del. (AP) — A Delaware judge on Tuesday began a key hearing that could determine whether the Boy Scouts of America can emerge from bankruptcy later this year with a reorganization plan that would compensate thousands of men who …

Judge Will Approve Purdue Pharma Bankruptcy Plan That Shields Sacklers

A U.S. judge said on Wednesday he would approve OxyContin maker Purdue Pharma LP’s bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company’s wealthy Sackler family owners from future opioid litigation. Bankruptcy Judge …

Purdue Pharma to Use Public Trusts, Sackler Cash to Settle Opioid Litigation

Purdue Pharma LP filed a bankruptcy plan on Monday that would resolve thousands of opioid lawsuits by restructuring the OxyContin maker into an entity that would steer profits to and require the company’s Sackler family owners to contribute nearly $4.3 …

PG&E Won’t Make Victims of Deadly Fire Pay Its Criminal Fine

PG&E Corp. won’t tap a fund for wildfire victims to pay $4 million in fines and expenses for involuntary manslaughter, avoiding a possible hurdle to its exit from bankruptcy. Insurers with claims against PG&E in bankruptcy agreed to wait 15 …

Sale of Philadelphia Refinery Nears; Foes Vow Long Legal Fight

NEW YORK — Opponents of Philadelphia Energy Solutions’ bankruptcy plan have vowed a long legal fight if a federal court this week approves a sale that would keep the largest East Coast oil refinery permanently shut while paying out bonuses …

Garlock Creditors Oppose Bankruptcy Asbestos Plan Proposal

The official committee representing creditors with asbestos claims against Garlock Sealing Technologies LLC will urge its constituents to vote against the company‚Äôs reorganization plan, even though Garlock said it pays claimants in full. The official representative of future asbestos claimants, …