bankruptcy News

U.S. Military Members Suing 3M Seek Dismissal of Subsidiary’s Bankruptcy

Current and former U.S. military members suing 3M over allegedly defective military earplugs have asked a U.S. judge to dismiss 3M subsidiary Aearo Technologies‘ bankruptcy, accusing the company of using bankruptcy to shield itself from litigation, which has grown into …

3rd Circuit Rejects J&J Bankruptcy Strategy for Thousands of Talc Lawsuits

A U.S. appeals court on Monday shot down Johnson & Johnson’s attempt to offload tens of thousands of lawsuits over its talc products into bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy with the …

Boy Scouts, Catholic Dioceses Find Haven from Sex Abuse Suits in Bankruptcy

Lawmakers around the United States have tried to grant justice to victims of decades-old incidents of child sexual abuse by giving them extra time to file lawsuits. Now some of the defendants in these cases, including church and youth organizations, …

Rochester Diocese $55M Sex Abuse Settlement Does Not Include Insurance Amount

The Roman Catholic Diocese of Rochester will pay $55 million to survivors of sexual abuse committed by clergy members under a settlement announced by Rochester Bishop Salvatore Matano last week. The $55 million from the upstate New York diocese, its …

California’s Mosquito Fire to Cost Utility PG&E $100 Million

PG&E Corp. recorded a $100 million third-quarter charge for a California wildfire that its equipment may have sparked last month in the Sierra Nevada mountains. California’s biggest utility said the costs of the Mosquito Fire should be largely offset by …

E. Washington Rancher Sentenced for ‘Ghost Cattle’ Fraud

SPOKANE, Wash. (AP) — An eastern Washington rancher has been sentenced to 11 years in prison by a federal judge for a massive “ghost cattle” scam that defrauded Tyson Foods and another company out of more than $244 million. Cody …

PG&E Officials Reach $117M Settlement over California Wildfires

A $117 million settlement has been reached with former PG&E Corp PCG.N executives and directors who were accused in alawsuit of lax oversight of the utility’s safety measures prior to the 2017 North Bay and 2018 Camp fires, two of …

Spain’s Abengoa Wins Dismissal of US Shareholder Lawsuit Alleging Fraud

NEW YORK —A US judge on Tuesday dismissed a lawsuit by Abengoa SA shareholders accusing the Spanish engineering and energy company of conducting a massive accounting fraud between 2013 and 2015 that masked a liquidity crisis and culminated in bankruptcy. …

3M Combat Earplug Lawsuits to Proceed, Judge Rules, Despite Bankruptcy Case

3M Co. must face more than 230,000 lawsuits accusing it of selling defective earplugs to the U.S. military, after a U.S. judge on Friday ruled that the bankruptcy of a subsidiary did not stop lawsuits against the non-bankrupt parent company. …

Ruling Leaves Questions About Boy Scouts Bankruptcy Plan

DOVER, Del. (AP) — A Delaware bankruptcy judge has approved parts of the Boy Scouts of America’s reorganization plan but has rejected other provisions, saying in a ruling Friday that the organization has “decisions to make” regarding the plan. Judge …