Bankruptcy

Oregon dairy’s bankruptcy filing cancels cattle auction

BOARDMAN, Ore. (AP) — Oregon’s newest large dairy has filed for bankruptcy a day before thousands of its cattle was set to be sold to repay a major creditor. The Capital Press reports that Lost Valley Farm filed for Chapter 11 bankruptcy late Thursday. The auction set for Friday was called off. This month, an Oregon judge ordered the dairy farm owner, Greg te Velde, to cooperate with an auction. The creditor, Rabobank, sued seeking to foreclose on the dairy’s…

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Boardman mega-dairy files for bankruptcy

April 28, 2018 9:44 am BOARDMAN, Oregon — The Lost Valley Farm near Boardman has thousands of head of cattle and they were scheduled to be auctioned in a bank foreclosure, but that has now been put on hold indefinitely. The Statesman Journal reports the owner, Greg te Velde, has filed for bankruptcy. It’ll affect Morrow County — it’s owed $360,000 back in taxes. Te Velde lists liabilities between $100 million and $500 million dollars. There are more than 200…

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Assam Co. insolvency deadline set for July 23

The National Company Law Tribunal’s Guwahati Bench has extended the last date for the corporate insolvency process for Assam Company (India) Ltd. to July 23, 2018. This is the first major tea company to face insolvency proceedings. Significantly, industry players have expressed apprehension that other tea companies may also face similar proceedings. ACIL has tea and oil and gas business with 16 gardens in Assam, with an output of 11.1 million kg recorded in 2016, which dropped to 9.7 million…

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Several Harapan candidates fall even before starting GE14 battle

UPDATED 3.12PM | GE14 | At least six Pakatan Harapan candidates were disqualified even before they could begin their 14th general election battle. The most high-profile disqualification was PKR vice-president Tian Chua in Batu, who was the parliamentary constituency’s incumbent for 10 years. He was disqualified due to a RM2,000 fine imposed on him last month although a similar fine in 2010 did not get him disqualified from contesting in the last general election. In the Johor state seat of…

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Bankrupt PPBM member disallowed from contesting in Bukit Pasir | New Straits Times

PAGOH: The Election Commission today rejected an application by a Parti Pribumi Bersatu Malaysia (PPBM) member to contest the Bukit Pasir state seat on grounds that he is a bankrupt. Pizi Jihat, who filed his nomination papers under the PKR ticket, learned of his fate following an official announcement by Returning Officer Zainon Adani at 12.15pm. Following his disqualification, the Bukit Pasir state seat will see a straight fight between Pas candidate Captain (Retd) Najib Lep and Barisan Nasional candidate…

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McKinsey Is Big in Bankruptcy—and Highly Secretive

The hearing in a Richmond, Va., federal bankruptcy court was jammed. Alpha Natural Resources Inc., a coal producer, had filed for chapter 11 protection, and dozens of creditors were there to find out how the company’s assets would be divvied up. The company and its advisers, including the restructuring unit of McKinsey & Co., had devised a reorganization plan that would split the company in two. In exchange for their defaulted loans, secured lenders would receive ownership stakes in a…

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Hasbro: Toys R Us bankruptcy hurt our revenue

The bankruptcy of Toys R Us is hurting Hasbro’s bottom line to the tune of nearly $100 million. That’s the revenue loss for the toymaker in the first quarter, according to the New York Post. Shares took a deep dive following the news, dropping nearly 8 percent. Hasbro is laying the financial dip on Toys R Us’ unsold inventory and liquidation event.   Source link

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Insolvency: Liberty House offers over Rs 260 bn for Bhushan Power

UK-based Liberty House has offered over Rs 260 billion for acquiring the stressed assets of Bhushan Power & Steel, leading Tata Steel and JSW in the race. The NCLT has asked Bhushan Power lenders, led by PNB, to consider the bid submitted by Liberty House for the debt-ridden company. It owes about Rs 450 billion to the lenders. “In the meeting of CoC held on Friday, the bid of Liberty House was opened. The…

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Seán Dunne’s bankruptcy should not be extended, court told

Businessman Seán Dunne’s Irish bankruptcy should not be extended given the conduct of the official administering it, counsel for the businessman has told the High Court. Barra McGrory QC, for Mr Dunne, argued the behaviour of official assignee Chris Lehane during the bankruptcy process fell far below what was expected and the court should not accept his request to “inflict punishment” on the businessman. Any extension to Mr Dunne’s bankruptcy would breach his property rights, he argued. Mr McGrory was…

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Green extends aggregation program with FirstEnergy despite utility’s pending bankruptcy – News – The Suburbanite

Brian Lisik TheSuburbanite.com correspondent GREEN  The city has opted to extend its electrical aggregation program with FirstEnergy Solutions in spite of reports that FirstEnergy is entering bankruptcy proceedings. Prior to Council’s April 10 approval of the extension, Councilman Stephen Dyer asked what, if any effect the pending Chapter 11 bankruptcy will have on aggregation programs with its customers. Brenda Fargo, of Strategic Aggregation Consultants, said FirstEnergy expects no changes in the near future and that the bankruptcy proceedings…

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Infinity War’s Sebastian Stan almost went bankrupt but was saved by an old pay cheque

Sebastian Stan might now be in one of the biggest movies of all time in Avengers: Infinity War, but his career hasn’t always been smooth sailing. In an interview with GQ, he revealed that he almost went bankrupt before a previous role ended up saving him from receiving the bad news. “I went out for everything. I went out for John Carter of Mars, which ended up being my buddy Taylor [Kitsch], and then that movie was what it was,”…

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Ruias add a Rs 32,000 crore twist to this year’s biggest bankruptcy tussle

MUMBAI: Numetal, in which a Ruia family member is part-owner, has increased its offer for Essar Steel by more than 75% to match ArcelorMittal’s superior bid in the first round, said two persons familiar with the matter. In a letter to lenders, Numetal said it would now offer Rs 32,000 crore for the bankrupt steel company, said the persons quoted above. ArcelorMittal and Numetal are the only two bidders for Essar Steel, which is facing claims of about Rs 49,000…

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Essar Steel: Ruias add a Rs 32,000 crore twist to this year’s biggest bankruptcy tussle

MUMBAI: Numetal, in which a Ruia family member is part-owner, has increased its offer for Essar Steel by more than 75% to match ArcelorMittal’s superior bid in the first round, said two persons familiar with the matter. In a letter to lenders, Numetal said it would now offer Rs 32,000 crore for the bankrupt steel company, said the persons quoted above. ArcelorMittal and Numetal are the only two bidders for Essar Steel, which is facing claims of about Rs 49,000…

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How Marvel Bounced Back From Bankruptcy to Become Hollywood’s Biggest Brand

How Marvel Bounced Back From Bankruptcy to Become Hollywood’s Biggest Brand Marvel Studios’ interconnected universe of films, now spanning 10 years and 19 individual projects, has earned $6 billion in domestic box office and nearly $15 billion worldwide, according to data from Box Office Mojo. That ain’t bad considering that in 1996 Marvel mired in bankruptcy, and a decade later banked its nascent film franchise on a second-tier superhero called Iron Man. “There was a lot of skepticism in the…

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Former Trenton councilwoman, mayoral candidate Annette Lartigue filed for bankruptcy

TRENTON >> Annette Lartigue, the only woman running in the city’s mayoral race, filed for bankruptcy in 2013 claiming nearly $300,000 in debts, according to court records. Lartigue called the bankruptcy case “old news” and accused opponents in the upcoming mayoral race of tipping off The Trentonian. The newspaper discovered publicly available federal court filings on its own while vetting the seven mayoral candidates in this year’s race with Election Day fewer than two weeks away. Lartigue explained Thursday she…

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