Barbie’s world shaken by bankruptcy

There’s trouble in toyland, and companies are blaming Toys R Us. Mattel, the maker of Barbie dolls and Hot Wheels cars, reported disappointing third-quarter results late Thursday and said it was hurt by Toys R Us’ Chapter 11 bankruptcy filing last month. Earlier this week, Hasbro, the maker of My Little Pony and Monopoly, also blamed weak results on the Toys R Us bankruptcy filing. Both companies said they temporarily slowed shipments to Toys R Us ahead of its bankruptcy,…

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True Religion Brand Jeans emerges from bankruptcy protection

LOS ANGELES (AP) — True Religion Brand Jeans has exited Chapter 11 bankruptcy protection in a move that reduces how much the retailer owes while giving it more time to pay it off. The Los Angeles-based company said Friday that its debt reorganization plan was approved by a bankruptcy court on Oct. 5. The plan reduces True Religion’s term loans from $471 million to $113.5 million and extends the time when the loans come due to 2022. CEO John Ermatinger…

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UK personal insolvencies hit 5-year high in gloomy sign for economy

27,807 people in England and Wales registered as insolvent between July and September LONDON The number of people registering as insolvent in England and Wales hit a five-year high in the third quarter, according to figures on Friday that hinted at trouble brewing in Britain’s consumer economy. The government’s Insolvency Service said 27,807 people in England and Wales registered as insolvent between July and September, up from 22,389 in the three months to June and marking the biggest total since…

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Highest number of insolvencies in five years – Euler Hermes

Image : shutterstock As many as 255 Polish companies became insolvent in Q3 2017, the highest number in five years. Since January, 673 companies became insolvent, which is a 14 percent increase y/y, said Euler Hermes in its report. The growth rate of insolvent firms will remain at a two-digit level for the remainder of the year. According to Euler Hermes, the reason for the growing rate of insolvencies is the result of the increasing production costs, mainly due to…

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UK personal insolvencies hit five-year high in gloomy sign for economy

By Andy Bruce LONDON (Reuters) – The number of people registering as insolvent in England and Wales hit a five-year high in the third quarter, according to figures on Friday that hinted at trouble brewing in Britain’s consumer economy. The government’s Insolvency Service said 27,807 people in England and Wales registered as insolvent between July and September, up from 22,389 in the three months to June and marking the biggest total since the third quarter of 2012. On a seasonally…

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World’s Biggest Coal Company’s Bankruptcy Protects It From Climate Lawsuit, Judge Rules

Peabody Energy is not responsible for climate impacts incurred before its 2016 bankruptcy filing, a judge ruled this week. The world’s largest private coal company is one of 37 fossil fuel companies being sued by three municipalities in California for damages due to climate change caused by burning fossil fuels and for conducting a “coordinated, multi-front effort” to discredit climate science. St. Louis Judge Barry Schermer, who presided over the bankruptcy, ruled that the counties missed the deadline to file…

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Bankrupt: Republicans Risk Destroying Economy To Spite Obama

Boehner and Cantor: What’s good for America is bad for Republicans [Commentary] Once again, we stand poised on the precipice of economic calamity because the Republican-led House is intent on creating crises to push their agenda. Unfortunately, too many pundits add to Americans’ cynicism by trying to find a way to blame both sides. The Washington Post recently tried by saying that Democrats hope Republicans will fight to shut down the federal government in hopes of gaining advantage when people…

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‘Cruel’ ‘Ruthless’ ‘Morally Bankrupt’: Collective Outrage After Trump Admin Detains 10-Year-Old Girl With Cerebral Palsy Directly From Surgery

Rosamaria Hernandez is recovering in federal custody after her ambulance was stopped by border patrol agents in Texas TEXAS—(ENEWSPF)—October 26, 2017 By: Jessica Corbett, staff writer Rosamaria Hernandez, an undocumented 10-year-old with cerebral palsy, is in federal custody after federal agents stopped an ambulance that was taking her to a hospital for emergency surgery. (Photo: The Independent/courtesy of family) “Morally bankrupt & unspeakably cruel.” “Ruthless & relentless.” “Disgusting.” “Trump’s deportation force in action.” This was just a sampling of the…

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Las Vegas-area residents see toll from Goodwill bankruptcy – Las Vegas Review-Journal

Have you noticed your Goodwill drop-off truck has disappeared? You’re not alone. The nonprofit organization is making changes due to its Chapter 11 status. Goodwill of Southern Nevada filed for bankruptcy in August, citing high operating costs, an increase in debt and a dip in retail sales. Sean Corbett, vice president of marketing and communications, said the nonprofit had expanded by 13 stores over five years, an aggressive plan embarked upon by the previous leadership. It was a time when…

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Wisconsin Ag Connection – National/World News

National & World Ag News Headlines Bill Includes Fix for Farmer Bankruptcy ReformUSAgNet – 10/26/2017 The supplemental appropriations bill passed by the Senate today includes the Family Farmer Bankruptcy Clarification Act of 2017, sponsored by Sens. Chuck Grassley, R-Iowa, and Al Franken, D-Minn. The measure would rectify a 2012 Supreme Court ruling on a previous bankruptcy reform law that ignored Congress’ express goal of helping family farmers, Grassley said. “Family farmers face obstacles that others don’t when dealing with bankruptcy.…

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Bankruptcy: No need for shareholder nod for insolvency resolution plan: Govt

NEW DELHI: The government on Wednesday said insolvency resolution plans, such as sale and transfer of assets, do not require approval from shareholders or the company as the law provides a detailed process from the receipt of the resolution plan to approval by the adjudicating authority. The clarification by the ministry of corporate affairs is expected to speed up the process of resolving cases facing insolvency action in various benches of the National Company Law Tribunal (NCLT), which range from…

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‘Shareholders’ nod not required for resolution plan under IBC’- The New Indian Express

NEW DELHI: Providing clarity, the government today said resolution plans under the Insolvency and Bankruptcy Code does not require approval of the shareholders. The clarification comes against the backdrop of concerns in certain quarters about the possibility of promoters of a company blocking insolvency resolution process under the existing provisions of the Code. Provisions of Section 30 and 31 provide a detailed procedure from the time of receiving the resolution plan by the insolvency resolution professional to its approval by…

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Liberals say there is ‘no plan’ to change law to protect pensioners in wake of Sears’ bankruptcy – Politics

The Liberal government says it has “no plan” to change the law to protect Canadian pensioners when companies like Sears file for bankruptcy, but they are open to discussing the issue. Uncertainty over the future of Sears pensions in the wake of the retail giant’s bankruptcy have led those advocating for improved protections for pensioners to pressure the government to change the law.  “We need legislative change,” said Wanda Morris, vice-president of The Canadian Association for Retired Persons, CARP, a national non-profit advocacy group that campaigns for healthcare…

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Congress adds bankruptcy judges in Eastern District of Michigan

Detroit Democratic Rep. John Conyers(Photo: Saul Loeb / AFP/Getty Images, file) Washington — Congress late Tuesday sent the president a disaster aid bill with a bipartisan provision authorizing an additional permanent bankruptcy judge for the Eastern District of Michigan, as well as extending a temporary judgeship in the district, among others nationwide. The $36.5 billion aid package incorporated a version of the Bankruptcy Judgeship Act of 2017 introduced by Detroit Democratic Rep. John Conyers, the ranking Democrat on the House…

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Threat Of Bankruptcy Causes Jitters For Hartford Buyers, Sellers

For three months, Mark Spalding’s Garrison-style colonial sat on the market as city leaders publicly pondered filing for bankruptcy and home sales started to cool. A few people stopped by to look at the picturesque, four-bedroom house with red siding and ornate landscaping in Hartford’s historic West End. But no one made an offer, and after slashing $10,000 off the asking price, Spalding recently decided to pull the listing. “We had it repainted, the inside is nice. It’s got a…

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