Bankruptcy

Indian-American yoga teacher pleads bankruptcy amid sexual allegations

Chicago:  Bikram Choudhury Yoga Inc, the studio that popularized doing yoga in sauna heat, has filed for US Chapter 11 bankruptcy, dogged by $16.7 million in legal judgements and numerous lawsuits and allegations of sexual misconduct. Founder Bikram Choudhury, who built a worldwide following with classes of 26 yoga postures in rooms heated to 105 degrees Fahrenheit (40.6 degree Celsius), has been accused of sexual assault by his yoga practitioners, students, instructors and teacher trainees. The Simi Valley, California-based company,…

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Famous Indian-American yoga teacher accused of sexual abuse pleads bankruptcy

Founder Bikram Choudhury, who built a worldwide following has been accused of sexual assault. Chicago:  Bikram Choudhury Yoga Inc, the studio that popularized doing yoga in sauna heat, has filed for US Chapter 11 bankruptcy, dogged by $16.7 million in legal judgements and numerous lawsuits and allegations of sexual misconduct. Founder Bikram Choudhury, who built a worldwide following with classes of 26 yoga postures in rooms heated to 105 degrees Fahrenheit (40.6 degree Celsius), has been accused of sexual assault…

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Bikram Yoga files for bankruptcy amid harassment claims

The heat of legal troubles has proved too much for Bikram Yoga, which has filed for Chapter 11 bankruptcy. The company based in Simi Valley, California said in court filings Thursday that it has liabilities of $50million and assets of $1million, as it sought protection from a slew of court judgments totaling some $16.7million. Founder Bikram Choudhury, who built a cult following around his yoga program in rooms heated over 100 degrees, has been accused of sexual assault by his yoga…

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Bikram Choudhury, hot yoga guru, seeks US bankruptcy

Chicago: Bikram Choudhury Yoga, the studio that popularised doing yoga in sauna heat, has filed for US Chapter 11 bankruptcy after being dogged by $US16.7 million ($23.4 million) in legal judgements and numerous lawsuits and allegations of sexual misconduct. Founder Bikram Choudhury, who built a worldwide following with classes of 26 yoga postures in rooms heated to 40.6, has been accused of sexual assault by his yoga practitioners, students, instructors and teacher trainees. Bikram Choudhury, front, teaches a hot yoga class…

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$80M in claims won’t be paid in Northern Beef bankruptcy

Almost $80 million that more than 100 businesses, investors, government entities and others claim they’re owed won’t be paid out in bankruptcy proceedings for the Northern Beef Packers plant in South Dakota. The American News reports that court documents show there’s slightly more than $1 million available to pay a long list of bills. Attorney Forrest Allred, the bankruptcy trustee, tells the newspaper that the available money will cover administration fees, wage claims and some back taxes. Northern Beef operated…

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BRIEF-SBI bankruptcy cases provisioning ratio at over 50 pct as of end-Sept: chairman

Nov 10 (Reuters) – State Bank Of India * Chairman says bankruptcy cases provisioning ratio is over 50 percent as of end of September * Chairman says corporate credit growth remains muted * Chairman says watchlist for potential default accounts has come down to 210 billion rupees from 240 billion rupees * Exec says in second RBI list for potential bankruptcies, already provided for 75 percent * Exec says most bad loan recoveries coming from retail and SMEs * Exec…

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Pacifica Radio Board Secretly OKs Bankruptcy Filing & Seeks NY Signal Swap : Indybay

In secret meetings on Sept. 28 and Oct. 5, the Pacifica Foundation National Board, which governs the 5-station nonprofit progressive radio network, voted over strong opposition to authorize its executives to file for Chapter 11 bankruptcy and initiate an effort to make a lucrative deal to swap the frequency of iconic New York station WBAI with another station holding a less desirable signal position. Implementation was delegated to Bill Crosier, Pacifica Interim Executive Director (IED) and a Houston national board…

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Bankrupt Samoans are heartened by offers of support and determined to show their worth on the field

Tough times have descended on Samoan rugby off the pitch but captain Chris Vui is adamant the tough-minded players can still produce the goods on it. Even so, he says, it has been heartening to feel the international outpouring of support since the Samoan Rugby Union announced that it was effectively bankrupt and did not have money to meet some immediate commitments. Reaction has been swift. Players and the RFU in England will be giving money to the side as…

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Alok Industries: Reliance Industries may buy unit of bankruptcy-hit Alok

Reliance Industries Ltd (RIL) may be looking at buying part of textile maker Alok Industries Ltd, three people familiar with the development said. The interest may be focused on the polyester yarn unit, they said. Alok Industries is one of 12 large accounts identified by the Reserve Bank of India in June for bankruptcy proceedings after having defaulted on loans. “All the business is not of interest to Reliance because it would not add synergies, but one or two divisions…

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Gonzales-based Crown Crafts’ profit dips on major customer bankruptcy, acquisition costs | Business

The bankruptcy of a major customer and acquisition costs lowered the quarterly results of Crown Crafts, the Gonzales-based baby products company. Crown reported net income of $725,000, or 7 cents per share, for its second quarter, which ended Oct. 1. A year earlier, the company earned $999,000, or 10 cents per share. Crown’s most recent results included $427,000 in credit coverage fees on a retailer that filed for bankruptcy and $212,000 in costs associated with the acquisition of Carousel Designs. Crown…

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Bankrupt Samoa Rugby Union faces scrutiny

WELLINGTON – World Rugby said Thursday it will look at the game’s governance in Samoa after administrators in the Pacific nation admitted they were bankrupt and could not pay their bills. Samoa Rugby Union chairman Tuilaepa Sailele Malielegao pleaded with the public for financial support this week, launching a fundraising radio phone-in. “We are bankrupt. In other words we are insolvent,” Malielegao, who is also the country’s prime minister, told the Samoa Observer. “It means the union cannot continue to…

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Raleigh business goes bankrupt, employees not paid

RALEIGH, North Carolina (WTVD) — Employees of Raleigh-based Total Outsourced Systems Inc. told ABC11 they have not received their final paychecks after the business unexpectedly closed November 3, filing for bankruptcy. Kellee E., a Raleigh mom of three who’d worked for the 24-hour call center for more than two years, said she put in a full day’s work at the Total Outsourced Systems office on Trust Drive last Friday. Soon after she got home, she got a call from a…

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