Banking

Why medical debt – and bankruptcy – are growing problems

Extremely high medical costs are often blamed for pushing many Americans out of business. According to the Consumer Financial Protection Bureau, some 43 million Americans have unpaid medical debts on their credit reports. Medical debt is not like other debt. This is not because of reckless purchases, but often because …

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Military exercise causes strange lights in Denver skies

This is an archived article and the information in the article may be out of date. Please look at the history’s timestamp to see when it was last updated. DENVER – A military drill caused the strange flashing lights over the Denver metro area on Saturday night, military officials said. …

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Definition of discharge from bankruptcy

What is a bankruptcy discharge? A bankruptcy discharge, also known as a bankruptcy discharge, refers to a permanent court order that releases a debtor from personal liability for certain types of debt. It is sometimes called simply a discharge and comes at the end of a bankruptcy. After its issuance, …

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As the pandemic erupted, British miners paid off

By Adriano Marchese Among UK business heavyweights, blue chip miners have been the crown jewel for investors last year. By the end of 2020, the biggest miners of the FTSE 100 paid out massive dividends – some even handing out record payouts – at a time when the coronavirus was …

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Protective court faq – Lexology

What is the Court of Protection? The Protective Court is a court established under the Mental Capacity Act 2005 with jurisdiction over the property, financial affairs and personal welfare of those who lack mental capacity. The Protection Court has the power to decide who does not have the capacity to …

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US Chapter 15: Recognition of the Indonesian Reorganization Plan

On September 14, 2020, the US Bankruptcy Court for the Southern District of New York recognized the restructuring plan overseen by an Indonesian court for Indonesian textile group Duniatex (“Duniatex Group”) under Chapter 151. Chapter 15 is a powerful and accessible tool of protection under the US Bankruptcy Code for …

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Cici pizza buffet chain files for bankruptcy

By Jordan Valinsky | CNN Affairs Cici’s, a restaurant chain known for its pizza buffets, has filed for bankruptcy. In a court case Monday night, Cici blamed his Chapter 11 case on the “Unpredictable and unprecedented scale” of the pandemic, which has decimated its results and the demand of its …

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Intelsat declares bankruptcy

Satellite communications provider Intelsat declared bankruptcy on May 13, although its subsidiary that provides services to the Defense Ministry is not part of the Chapter 11 proceedings. CEO Stephen Spengler called the action a positive step, saying it gave the company more financial flexibility for the Federal Communication Commission to …

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AG settles with the debt collector; Cambridge and Malden bank merger complete

Attorney General Maura Healey settled Thursday with a medical debt collection agency accused of exposing the personal information of at least 7 million people nationwide, including 113,000 residents of Massachusetts. Forty-one attorneys general reached an agreement with the Retrieval-Masters Creditors Bureau, which operated as the American Medical Collection Agency and …

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Lawyers announce wave of bankruptcies | Economic news

For the millions of Americans who saw their finances shattered by the pandemic, federal stimulus payments, improved unemployment benefits, and the many moratoriums imposed on debt might have seemed like a godsend when they were first announced. . But what happens when these programs expire? On the one hand, bankruptcy …

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Debt settlement vs bankruptcy: pros and cons

Dear Liz: I owe a credit card company about $ 16,900. I haven’t been able to make payments for almost two years and have no money. They recently sent me a proposal to repay the entire amount at 30 cents on the dollar by making 24 payments of just over …

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CARES Act Expands Access to Chapter 11 Bankruptcy Relief

A new law raises the debt threshold of companies to request a simplified reorganization By now, you’ve probably heard – and perhaps benefited from – Federal Coronavirus Assistance, Relief and Economic Security, or CARES. Naturally, much of the law’s focus has been on much-needed loans and other programs to help …

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Oasis exits bankruptcy with $ 1.8 billion less in debt, new symbol

Houston-based Oasis Petroleum Inc., which operates the Permian and Williston basins, completed a financial restructuring and emerged from bankruptcy. The independent, who filed Chapter 11 protection in late September, said it had reduced its debt before asking for $ 1.8 billion. It trades on the Nasdaq under “OAS”. “Oasis is …

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A look at municipal bankruptcies over the past 20 years

Editor’s Note: This analysis was updated on July 13, 2020, to clarify that the 21 local governments that filed for bankruptcy in Nebraska are special use districts and on July 7, 2020, to clarify the reference to operations of US Steel in Fairfield, Alabama. . On May 19, the town …

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Post-Brexit recognition of English insolvency judgments in Luxembourg and its effects on European restructuring – Insolvency / Bankruptcy / Restructuring

Luxembourg: Post-Brexit recognition of English insolvency judgments in Luxembourg and its effects on European restructuring December 03, 2020 Loyens & Loeff To print this article, simply register or connect to Mondaq.com. Struggling European debtors and creditors face uncertainty over UK debt and, more generally, their overall restructuring strategy. This uncertainty …

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Brazil’s new bankruptcy law will affect Florida investors

On January 23, Brazil adopted the Model Law on Cross-Border Insolvency, which was created by the United Nations Commission on International Trade Law (UNCITRAL) in 1997. This will now allow the United States to insolvency, restructur debts and liquidations (called “foreign proceedings”) to be formally recognized by Brazilian courts and …

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Christopher & Banks assesses strategic options, including bankruptcy

Dive brief: Women’s clothing seller Christopher & Banks has called in strategic advisers, including B. Riley Securities, to assess “available strategic alternatives” as its sales and cash flow remain under pressure. In his last quarterly report, the company, which operates around 450 stores, has issued a “going concern” warning that …

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Debt collector could face $ 21 million tab in data breach deal

Law360 (March 11, 2021, 8:12 p.m. EST) – Bankrupt collection agency Retrieval-Masters Creditors Bureau on Thursday agreed to implement data security practices and be liable for a potential payment of $ 21 million dollars to end a multi-state investigation into a month-long data breach that exposed the personal information of …

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Valaris prepares to emerge from bankruptcy as

Offshore drilling company Valaris, the world’s largest by fleet size, has received U.S. Bankruptcy Court approval for the South Texas District of its pre-arranged reorganization plan, and has agreed with the Korean Daewoo to delay delivery of two new drillships. The offshore driller filed for bankruptcy in August 2020, with …

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Bankruptcy: pros and cons – FindLaw

Declaring bankruptcy may seem like a big step in the wrong direction. Filers find debt relief, but also face new challenges in rebuilding credit and securing loans. It is also common to adjust to a reduced lifestyle after bankruptcy. But bankruptcy also offers tremendous relief to those buried under unsustainable …

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The fear of bankruptcy holds too many people back

The mystery is not why so many people file for bankruptcy each year. That’s why more people don’t. Each year, only a fraction of Americans who could benefit financially from bankruptcy actually seek redress. Economists say some don’t file because collectors don’t aggressively pursue them, while others may strategically delay …

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McConnell says he prefers state bankruptcy to more federal aid

WASHINGTON (Reuters) – U.S. Senate Majority Leader Mitch McConnell on Wednesday opened the door to allowing U.S. states to file for bankruptcy to deal with economic losses resulting from the coronavirus outbreak that are deepening big holes in their budgets. FILE PHOTO: U.S. Senate Majority Leader Mitch McConnell (R-KY) speaks …

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Firms Consider Cheaper, Faster Subchapter 5 Bankruptcies

More and more small and medium-sized enterprises (SMEs) have filed for bankruptcy using an expanded subchapter 5 process in an effort to take advantage of its lower costs and simpler steps. But it could be the wrong option if you’re not ready to act quickly, bankruptcy specialist Andrea Hartley told …

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Rubio’s files for bankruptcy protection

San Diego-based Rubio’s Restaurants, Inc. has filed for Chapter 11 bankruptcy because it seeks financial stability and better rental terms in a business environment uprooted by the pandemic. On Monday, the 37-year-old private company filed documents with the United States bankruptcy court for the District of Delaware in an effort …

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Wave of evictions, bankruptcies and lawsuits approaching

The mystery of the dog that didn’t bark overnight – when it comes to the economic fallout from the COVID-19 pandemic – stands as a statistical absence. Since March, entire industries have been forcibly closed and workers have been placed on leave or sacked or put on reduced hours. It …

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Why Mitch McConnell’s idea of ​​state bankruptcy is so stupid

Mitch McConnell. Photo: Saul Loeb / AFP via Getty Images In an interview with Tory radio host Hugh Hewitt on Wednesday, Senate Majority Leader Mitch McConnell rejected calls for federal aid to states, asserting that states’ financial problems are closely linked to reckless decisions about public employee pension benefits and …

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JC Penney considers exit from bankruptcy

NEW YORK – JC Penney believes he will step out of bankruptcy protection before Christmas under a new property deal that would save tens of thousands of jobs. The besieged century-old retailer said on Wednesday it had filed a proposed asset purchase agreement with the two largest mall owners in …

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Reuters: Chesapeake Energy braces for possible bankruptcy

This is an archived article and the information in the article may be out of date. Please look at the history’s timestamp to see when it was last updated. (CNN) – In addition to the coronavirus pandemic, the oil crash could be catastrophic for over-indebted shale oil companies. the oil …

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Activists say order allows abortions | Local

INDIANAPOLIS – Anti-abortion conservatives are pushing back an executive order issued by Governor Eric Holcomb, calling it too weak to stop abortions during the public health emergency. “In Monday’s executive order, Governor Holcomb left many loopholes for abortionists to continue murdering babies,” said Amy Schlichter, executive director of Hoosiers for …

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Abortion restrictions pose political risk for Republicans in 2020

WASHINGTON (Reuters) – The decision by states like Alabama, Georgia and Ohio to impose drastic abortion restrictions could bolster Republican support among religious voters wary of President Donald Trump, but risks alienate the moderates, political experts said Wednesday. The American Flag and Alabama State Flag fly over the Alabama Governor’s …

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The debt ceiling increase in bankruptcy will expire | Kerr russell

In February 2020, Congress created a new subchapter of Chapter 11 of the Bankruptcy Code aimed at alleviating the burden and costs of reorganization for small businesses. This new Subchapter V, enacted under the Small Business Reorganization Act of 2019 (SBRA), has significantly streamlined the regular Chapter 11 process for …

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Speedcast comes out of Chapter 11 bankruptcy debt-free

Speedcast terminals. Photo credit: Speedcast Speedcast has successfully completed its restructuring process and exited Chapter 11 proceedings, the company said Thursday. Speedcast is now the property of Partners Centerbridge, LP and its subsidiaries. Centerbridge has invested $ 500 million of equity in the company and Speedcast now has a healthy …

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Can I Keep My Home After Filing Bankruptcy?

The answer, like so many others in law, is “it depends”. Most people who file for bankruptcy can keep their homes throughout the process, but some are not. Keeping your home is often the biggest worry in filing for bankruptcy – and which chapter to file for. This article will …

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Norwegian Air makes final restructuring offer to creditors

If approved by a sufficient number of creditors and the Irish High Court, the so-called scheme of arrangement will allow Norwegian to raise new capital and out of bankruptcy protection in Ireland and Norway. “This is an important step in the process of securing Norwegian’s future,” Chief Executive Officer Jacob …

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Guitar Center files for bankruptcy

UPDATE: November 23, 2020: Guitar Center filed for Chapter 11 bankruptcy Saturday to reach a previously announced deal to refinance its debt, inject new liquidity and get out of court proceedings before the end of the year. The deal includes $ 165 million in new equity investments from Ares Management, …

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What happens to women who cannot have an abortion

New study offers a powerful reminder of what really matters when it comes to economically empowering women: access to Abortion. Women who cannot have an abortion face significant financial hardship, including higher debts and increased bankruptcy and deportation rates, according to a groundbreaking working paper released last week by the …

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Neiman Marcus files for bankruptcy

It became such an institution that in 1983 Frederick Wiseman made a documentary about it titled, simply, “The shop. At that point, it was in the midst of a nationwide expansion that culminated in a public offering in 1999 by Harcourt General, the book publisher and then store owner. Six …

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Travelport wants to prevent lenders from taking over the business

Travelport Worldwide Ltd. asks court to prevent lenders from foreclosing money or taking control of the business over dispute with Elliott Management Corp., warning of possible bankruptcy if they are not restrained by an injunction . The Elliott-backed reservation platform filed documents in New York state court on Monday seeking …

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Norwegian abandons long haul as he fights for survival

Norwegian Air Shuttle will abandon its attempt to break into the long-haul air transport market as the low-cost carrier planned to exit bankruptcy protection, but wiping out existing shareholders, drastically reducing debt and raising new ones. capital. The low-cost airline will focus on short-haul flights in Europe after concluding that …

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Latin America catches global spotlight for airline bankruptcies

SAO PAULO (Reuters) – LATAM Airlines and Avianca Holdings AVT_p.CN survived the Great Depression, but just a few weeks of quarantine forced the two companies into bankruptcy, making Latin America the world’s number one spot in airline financial ruin. A Latam Airlines plane is seen at Guarulhos International Airport amid …

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At the request of NanoMech, its bankruptcy was rejected

A judge has dismissed the bankruptcy of Springdale-based NanoMech at the company’s request. In an order issued Tuesday, Judge John Dorsey of the Delaware District Bankruptcy Court granted the termination, noting that it was in the best interests of the debtor, the estate and those involved. The order also dismisses …

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Form 8-K SAUL CENTERS, INC. For: March 11

Enter Wall Street with StreetInsider Premium. Claim your 1-week free trial here. EXHIBITION INDEX Exposure The description No. 99.1 Press Release, dated March 11, 2021, from Saul Centers, Inc. Section 2: EX-99.1 (EX-99.1) On March 11, 2021, Saul Centers, Inc. (the “Company”, NYSE: BFS) declared a quarterly dividend of $ …

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Are Tangier factory centers a buy?

The last year has been terrible for the retail industry, at least for brick and mortar stores. Right in the middle of the storm were mall owners like Tangier factory centers (NYSE: SKT). That said, you can’t lump all the Shopping Mall Real Estate Investment Trusts (REITs) into one stack …

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Guitar Center Files Chapter 11 to reduce the debt load

Guitar Center, the country’s largest musical instrument retailer, has filed for bankruptcy to reduce its $ 1.3 billion debt amid a liquidity crunch caused by the coronavirus pandemic. The Chapter 11 filing is the “next step” in implementing a restructuring agreement with creditors that will reduce Guitar Center’s debt by …

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Rocket confirmations gain ground – Lexology

In the early evening of February 23, 2021, Belk Inc. and its affiliates (collectively, “Belk”) filed their Chapter 11 bankruptcy claims with the South Texas District Bankruptcy Court. Less than seventeen hours later, Judge Marvin Isgur confirmed the reorganization plan prepared by Belk. Belk is not the first Chapter 11 …

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Xscape Theaters Howell 14 goes bankrupt

The past 12 months have been tough for Jersey Shore businesses, especially those in the entertainment industry. After a year of limited capacity, one of Jersey Shore’s largest theaters has closed. Listen to JB afternoon on 92.7 WOBM and download our free 92.7 WOBM app. If you hear of any …

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Exploring WWE’s Rise to Wrestling Dominance

History is written by the winners, according to the old cliché. But when it comes to the story of the fight, the narrative you hear depends on who you ask. Tim Hornbaker’s Death of the territories: expansion, betrayal and war that changed professional wrestling forever, published in 2018 by ECW …

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It’s time to say goodbye because Hertz Stock is not a good buy

The dream of multi-bagger returns just won’t die, will it? While some loyal (or perhaps stubborn) traders continue to invest in Hertz Global (OTCMKTS:HTZGQ), it is becoming increasingly evident that Hertz stocks may never recover. Source: lumen-digital / Shutterstock.com I can’t blame anyone for wanting to keep the dream alive. …

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