bankruptcy News

3M Agrees to Pay $6 Billion in US Military Earplug Lawsuit Settlement

3M has agreed to pay $6.01 billion to settle lawsuits by U.S. military veterans and service members who say they suffered hearing loss from using the company’s earplugs, the company and lawyers for the plaintiffs announced on Tuesday. The deal …

Montana Clinic Files for Bankruptcy Following $6 Million Judgment over False Asbestos Claims

BILLINGS, Mont. (AP) — A health clinic in a Montana town plagued by deadly asbestos contamination has filed for bankruptcy protection after a judge ordered it to pay the government almost $6 million in penalties and damages for submitting false …

J&J Fights to Save Legal Tactic That Would End Cancer Suits

Johnson & Johnson wrapped up a trial today to determine if the health care giant is misusing the bankruptcy system for the second time in less than two years in a bid to force an end to about 40,000 cancer …

Boy Scouts Bankruptcy Plan in Effect; Appeals Likely Go on

DOVER, Del. (AP) – The Boys Scouts of America’s $2.4 billion bankruptcy reorganization plan took effect Wednesday. But more time will be needed before survivors of child sexual abuse at the hands of Boy Scout leaders and volunteers begin receiving …

J&J Talc Unit 2nd Bankruptcy Must Be Dismissed, Lawyers Say

Johnson & Johnson’s second attempt to resolve talc lawsuits in bankruptcy should be dismissed as an unprecedented fraud designed to deny plaintiffs just compensation, lawyers representing cancer victims argued in a Monday court filing. The attorneys contend J&J defied a …

Boy Scouts Bankruptcy Plan Headed to Federal Appeals Court

DOVER, Del. (AP) — Attorneys for several insurance companies are appealing a federal judge’s decision to uphold the confirmation of a $2.4 billion bankruptcy reorganization plan for the Boy Scouts of America. In an emergency motion filed Friday, attorneys for …

Judge Denies Insurers’ Appeal in Boy Scouts Reorganization Plan

A federal judge on March 28 denied an appeal, largely made by insurers, to strike down the Boy Scouts of America’s nearly $2.5 billion reorganization plan approved last year to allow the organization to settle tens of thousands of sexual …

Parent of Silicon Valley Bank Seeks Bankruptcy Protection

The parent of Silicon Valley Bank, seized last week by the U.S., is filing for Chapter 11 bankruptcy protection. SVB Financial Group, along with its CEO and its chief financial officer, were targeted this week in a class action lawsuit …

Albany Diocese Files for Bankruptcy Amid Sexual Abuse Lawsuits

The Roman Catholic Diocese of Albany has filed for Chapter 11 bankruptcy protection in New York as it, like other dioceses in the state, faces hundreds of lawsuits by survivors of sexual abuse by priests. Bishop Edward B. Scharfenberger of …

Gun Dealer Sued by Kansas City Settles for $150K

KANSAS CITY, Mo. (AP) — Kansas City has reached a settlement with one of the gun dealers it accused in a lawsuit of contributing to surging violence in the region by ignoring evidence that firearms were being sold illegally. Kansas …