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#Bankruptcies

Diddy is looking to buy Sean John out of bankruptcy with $3M offer

Diddy is looking to save the day and buy Sean John out of bankruptcy. The business mogul founded the fashion and lifestyle brand in 1998 and sold the majority of the company in 2016 to Global Brands Group USA. According to a legal filing obtained by TMZ on Thursday, Dec. 2, 2021, SLC Fashion LLC, a company associated with Combs, has offered to purchase back the company for $3.3 million.
CELEBRITIES
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Times Union

Churchill: Central Warehouse saga rolls on (and on and on)

ALBANY — For years, Evan Blum was cagey about what he had planned for the Central Warehouse because, he eventually told me, he was afraid somebody would steal his idea for the building. But in May, when it became known that Albany County planned to take ownership of the property...
ALBANY, NY
Picture for Churchill: Central Warehouse saga rolls on (and on and on)
TRENDING TOPICS

PBF Energy officials toured for-sale Lyondell Houston refinery -sources

HOUSTON (Reuters) - Officials from independent U.S. refiner PBF Energy last week toured LyondellBasell Industries’ Houston refinery, which went up for sale in September, people familiar with the matter said on Friday. Representatives of other companies have not yet toured the 263,776 barrel-per-day (bpd) refinery located along the Houston Ship...
HOUSTON, TX
stcroixsource.com

Failed Bidder Contests Limetree’s Sale to St. Croix Energy

A backup bidder has objected to the proposed sale of Limetree Bay Refinery to St. Croix Energy in an emergency motion seeking to delay the Dec. 7 sale hearing in the U.S. Bankruptcy Court for the Southern District of Texas. Bay Ltd. contends in its motion that St. Croix Energy’s...
ENERGY INDUSTRY
vervetimes.com

Reliance Capital to be declared bankrupt – Navshakti

Anil Ambani of the Reliance Group, once one of India’s leading industrialists, is now in deep trouble. It is learned that the RBI has started the process of declaring his Reliance Capital bankrupt. The RBI has sought permission from the National Company Law Tribunal. According to a report, the RBI...
BUSINESS
tellerreport.com

Companies rescued by the ICO begin to file for bankruptcy

This year and, especially, in recent months, are companies that have been beneficiaries of. bank loans guaranteed by the Official Credit Institute. Take advantage of this offer for a limited time and access all web content. I love you. If you prefer. Are you already Premium?. Log in. Cancel whenever...
MARKETS
tbsnews.net

Envoy Textiles to raise Tk87cr

The money raised will finance an upcoming project expansion programme and to repay a portion of high-cost borrowing. Envoy Textile Limited – a 100% export-oriented denim manufacturing company – has decided to issue 8.7 crore preference shares at a face value of Tk10. The company expects to raise Tk87 crore...
BUSINESS
pakistanchristian.tv

Musk warns of SpaceX bankruptcy in an email. Missile launch and Starlink – VTM.cz may be in danger

SpaceX CEO Elon Musk described the critical situation regarding the production of engines for its rockets. The e-mail, which he sent to all employees, shows that production problems seriously threaten the Starship project and the Starlink satellite Internet service. Musk acknowledges the possibility of bankruptcy if these problems are not resolved. I brought the details American television station CNBC.
AEROSPACE & DEFENSE
publicistpaper.com

What Will Be The Competitive Constraints after the 2020 Pandemic?

As the virus swept across the world, we leaped forward to make sense of our situation. We realized that the pandemic will leave a long-term, even subtle impact on our health. The progression of its Farwell will be slow and unraveling. Understanding this for a fact, we now think ahead...
PUBLIC HEALTH

Riverbed Technology nets approval of $1bn debt-cutting plan

(Reuters) - Riverbed Technology, a San Francisco-based information technology company, secured bankruptcy court approval on Friday of its reorganization plan that reduces its debt by $1.1 billion. U.S. Bankruptcy Judge Craig Goldblatt in Wilmington, Delaware, signed off on the plan just 17 days after the company filed for Chapter 11...
WILMINGTON, DE

Sean Combs Puts In a $3.3 Million Bid to Buy Back Sean John Out of Bankruptcy

The man who started the clothing line Sean John and sold it several years ago wants to purchase it back now that the company that currently owns it has filed for bankruptcy. According to Bloomberg, Sean Combs, former owner and creator of the Sean John brand, has recently placed a bid of $3.3 million to buy back the assets of Sean John, the fashion and lifestyle brand that the entrepreneur started in 1998. GBG USA Inc., a now-bankrupt brand management firm, owns 90% of the Sean John brand through a joint venture with Combs, according to court papers filed Wednesday.
BUSINESS
bizjournals

The week in bankruptcies: Minnesota travel co. flies through Houston bankruptcy court with speedy plan

Houston-area bankruptcy courts recorded some more business filings — including one with debts over $1 billion — heading into the Thanksgiving holiday. Year to date through Nov. 26, 2021, the court recorded 149 Chapter 7 or Chapter 11 business bankruptcy filings, a 67% decrease from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’s assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor obligations with the goal to remain a going concern.
MINNESOTA STATE
Ironton Tribune

Bankruptcy is option for medical bills

Dear Lawyer Mark: I’m in trouble and need some advice. My wife and I have been having some pretty bad financial problems, and they just got worse. My wife just got real sick and her medical bills are huge. We don’t got insurance, and there’s no way we can pay for them.
IRONTON, OH
emporiaindependentmessenger.com

Emporia to join other localities in settlement of opioid related claims

In September, the City of Emporia announced it would participate in the Mallinckrodt Bankruptcy plan as a part of an opioid settlement plan. The Emporia City Council recently approved a resolution of the City’s participation against other companies facing opioid-related claims. McKesson, Cardinal Health, Amerisource Bergen, and Janssen negotiated proposals...
EMPORIA, VA
gastroenterologyadvisor.com

States Claim Sackler Family Members Are Abusing Bankruptcy Process

HealthDay News — A settlement that gives protections to Sackler family members who own Purdue Pharma should be rejected, a group of states told a federal judge on Tuesday. The settlement was reached in thousands of lawsuits against OxyContin maker Purdue Pharma for its role in the U.S. opioid epidemic that has claimed more than 500,000 lives in the past two decades.
LAW
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