bankruptcy News

Mormon Church Sued for Alleged Role in Boy Scouts Sex Abuse

PHOENIX (AP) — The Church of Jesus Christ of Latter-day Saints was hit with several lawsuits Monday for allegedly covering up decades of sexual abuse among Boy Scout troops in Arizona, marking the latest litigation before the state’s end-of-year deadline …

Emergency Construction Starting on Michigan Dam That Failed

EDENVILLE, Mich. (AP) — Crews have started emergency construction work on a portion of a central Michigan dam that collapsed last spring and contributed to flooding that destroyed homes and forced the evacuations of about 10,000 people. Excavation work will …

Sex Abuse Victims Want Archdiocese Eliminated, Lawyer Says

ALBUQUERQUE, N.M. — An attorney for the Archdiocese of Santa Fe has claimed that alleged victims of clergy sexual abuse and their lawyers are seeking to eliminate the archdiocese in New Mexico by asking about the church’s holdings. Tom Walker, …

Century 21 Sells $175 Million Covid Claim Insurers Won’t Pay

There’s an unusual asset up for grabs in Century 21 Stores’ going-out-of-business sale: a stake in its long-shot legal fight against insurers. The New York department store company, which filed for bankruptcy in September, claims it’s owed more than $175 …

Boy Scouts Aim to Settle 95,000 Abuse Claims Before Cash Crunch

More than 95,000 victims have filed sexual-abuse claims against the Boy Scouts of America, and the organization risks running out of cash if it can’t settle the claims and exit bankruptcy by summer 2021, the group said in court Wednesday. …

Masters Without Golf Fans Pushing Augusta Hotels to Delinquency

For Augusta’s lodging market, the Masters really is a tradition unlike any other — one that puts well-coiffed heads in hotel beds, and lifts room rates like a 9 iron. This year, the annual golf tournament was postponed from its …

Contaminated Plant Turned Over to State Environmental Trust

LOS ANGELES — A state environmental trust will take over a battery recycling plant in Southern California to prevent its bankrupt owners from abandoning the heavily contaminated facility, a newspaper reported Saturday. The Department of Toxic Substances Control announced Friday …

Oxycontin Maker Purdue Pharma to Plead to 3 Criminal Charges

NEW YORK — Purdue Pharma LP agreed to plead guilty to criminal charges over the handling of its addictive prescription opioid OxyContin, in a deal with U.S. prosecutors that effectively sidestepped paying billions of dollars in penalties and stopped short …

Travelers Profit Rises With Higher Premiums, Lower Costs

Oct 20 — Property and casualty insurer Travelers Companies Inc beat third-quarter profit expectations on Tuesday, helped by higher premiums, lower costs and an increase in returns from non-fixed income investments. The New York-based company, seen as a bellwether for …

Abuse Victims Win Right to Sue for $245 Million of Church Assets

The federal judge overseeing the bankruptcy of the Archdiocese of Santa Fe granted a motion to allow lawyers representing a group of victims of clergy abuse to pursue over $245 million of church assets for their clients. The Archdiocese of …