Posts Tagged ‘Bankruptcy’
Biden Legislation Stripped Borrowers of Their Bankruptcy Protections
Before Biden and Warren were at odds for the Democratic Presidential nomination, they faced off against bankruptcy protection laws, with Biden successfully stripping them away right before the 2008 housing crisis. In 2005, Biden pushed through a bill called the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) intended to prevent people from abusing a…
Read MorePG&E Struggles to Remain Out of Bankruptcy Amid Victim Claims
PG&E (Pacific Gas and Energy) is struggling to come up with a plan to avoid filing for bankruptcy in the midst of constant blackouts and wildfires that have ravaged California. As California’s largest utility, the state is threatening to take over due to a lack of an agreement between the company, fire victims and its…
Read MoreIs the Coal Industry Slipping into Obsoletion?
On Friday, Oct 11, CNN Business reported that Murray Energy owned by Robert Murray, the “king of coal”, is slipping into “financial collapse”, thus marking another coal business plummeting into bankruptcy. For coal miners and those in the coal industry, this means that the industry will likely become obsolete within the next few years among…
Read MoreSupreme Court and Bankruptcy News
The Supreme Court faces a decision that could change Chapter 11 bankruptcy indefinitely. In 2006, the Jevic Transportation Company was buyed out for $77.4 million by the private equity firm Sun Capital Partners. Two years later, Jevic had to file for Chapter 11 bankruptcy because of too much debt. The bankruptcy put 1,785 drivers and…
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