bankruptcy News

Texas Power Firm Hit With $2.1 Billion Bill Files for Bankruptcy

The largest power generation and transmission cooperative in Texas filed for bankruptcy in the wake of power outages that caused an energy crisis during the winter freeze last month. Brazos Electric Power Cooperative filed for Chapter 11 in Texas after …

Wildfire Victims Sue Former PG&E Executives Alleging Neglect

SAN RAMON, Calif. (AP) — A trust representing more than 80,000 victims of deadly wildfires ignited by Pacific Gas and Electric’s rickety electrical grid is suing nearly two dozen of the utility’s former executives and board members, alleging they neglected …

Bankruptcy Judge Refuses to Halt Weinstein Co. Plan

WILMINGTON, Del. (AP) — The Delaware judge presiding over the Weinstein Co. bankruptcy has rejected a request by four women who have accused disgraced film mogul Harvey Weinstein of sexual misconduct to put her approval of the company’s bankruptcy plan …

Insurers Question Claims Process in Boy Scouts Bankruptcy

DOVER, Del. (AP) — The judge presiding over the Boys Scout of America bankruptcy is weighing a request by insurance companies for permission to serve document requests on 1,400 people who have filed sexual abuse claims and to question scores …

Attorneys Challenge Weinstein Co. Bankruptcy Plan Approval

DOVER, Del. (AP) — Four women who have accused disgraced film mogul Harvey Weinstein of sexual misconduct are appealing a Delaware judge’s approval of the Weinstein Co.’s bankruptcy plan. Attorneys filed the appeal in U.S. District Court in Delaware on …

Utility to Pay $2B Settlement in Deadly 2018 California Fire

LOS ANGELES (AP) — Southern California Edison will pay $2.2 billion to settle insurance claims from a deadly, destructive wildfire sparked by its equipment in 2018, the utility announced Monday. Edison, which acknowledged no wrongdoing, said the agreement covers all …

Mormon Church Sued for Alleged Role in Boy Scouts Sex Abuse

PHOENIX (AP) — The Church of Jesus Christ of Latter-day Saints was hit with several lawsuits Monday for allegedly covering up decades of sexual abuse among Boy Scout troops in Arizona, marking the latest litigation before the state’s end-of-year deadline …

Emergency Construction Starting on Michigan Dam That Failed

EDENVILLE, Mich. (AP) — Crews have started emergency construction work on a portion of a central Michigan dam that collapsed last spring and contributed to flooding that destroyed homes and forced the evacuations of about 10,000 people. Excavation work will …

Sex Abuse Victims Want Archdiocese Eliminated, Lawyer Says

ALBUQUERQUE, N.M. — An attorney for the Archdiocese of Santa Fe has claimed that alleged victims of clergy sexual abuse and their lawyers are seeking to eliminate the archdiocese in New Mexico by asking about the church’s holdings. Tom Walker, …

Century 21 Sells $175 Million Covid Claim Insurers Won’t Pay

There’s an unusual asset up for grabs in Century 21 Stores’ going-out-of-business sale: a stake in its long-shot legal fight against insurers. The New York department store company, which filed for bankruptcy in September, claims it’s owed more than $175 …