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The auto manufacturers explained that they would need financial aid of $25 billion if they were to avoid bankruptcy. The Senate was divided on the issue. The Republican senators were unwilling to provide aid, some even suggesting that bankruptcy might be the best option as it would free manufacturers from the employment deals agreed with the ...
In addition, the investment bank Lehman Brothers filed for Chapter 11 bankruptcy protection in September 2008, citing bank debt of $613 billion and $155 billion in bond debt. The solvency of other U.S. banks was severely threatened, forcing the George W. Bush government to intervene with the $700 billion bailout plan of the Troubled Asset ...
The first municipal bankruptcy legislation was enacted in 1934 during the Great Depression. [2] Although Congress attempted to draft the legislation so as not to interfere with the sovereign powers of the states guaranteed by the Tenth Amendment to the Constitution, the Supreme Court held the 1934 Act unconstitutional as an improper interference with the sovereignty of the states. [2]
Effort to blacklist investment firms with environmental, social and governmental policies would cost retired public employees millions, says OPEA
The pharmacy chain Rite Aid filed for bankruptcy in October. Since then, the chain closed hundreds of stores, including 16 more locations in Ohio during additional recent downsizing.
Chapter 13 bankruptcy filings hit their highest level in 2010 when they reached 434,739 non-business filings. Filings declined significantly during the COVID-19 pandemic but have begun to rise ...
The deal closed on August 22, 2019, thus placing Fox Sports Oklahoma in common ownership with Sinclair stations KOKH-TV/KOCB in the network's homebase of Oklahoma City, and KTUL in Tulsa. [4] It was subsequently renamed Bally Sports Oklahoma on March 31, 2021. [5] On March 14, 2023, Diamond Sports filed for Chapter 11 Bankruptcy. [6]
The company's share price fell from $3.22 to $1.15 last week after the Wall Street Journal reported it was preparing to file for bankruptcy protection, closing on $1.07 on Friday.