bankruptcy News

Church Official Warns of Financial Flood Due to Abuse Claims

SANTA FE, N.M. (AP) — A top official with the Archdiocese of Santa Fe says a financial flood from clergy sex abuse claims is coming and a settlement would serve as the dam to prevent devastation to parishes across northern …

PG&E Faces Criminal Charges Over 2019 Kincade Fire

Utility giant PG&E Corp. faces criminal charges for its role in a 2019 wildfire that burned 78,000 acres in Northern California, another blow to a company with a checkered history of being blamed for disasters and endangering public safety. The …

Boy Scouts Victims Committee Says Claims Worth $103 Billion

DOVER, Del. (AP) — The official committee representing child sex abuse victims in the Boy Scouts of America bankruptcy is asking a judge for permission to file its own reorganization plan, saying the plan proposed by the BSA falls woefully …

Sacklers Boost Opioid Settlement Offer to $4.3 Billion – Sources

NEW YORK — Members of the Sackler family who own Purdue Pharma LP have offered roughly $4.3 billion to resolve sprawling opioid litigation, up from $3 billion initially proposed in settlement discussions underway in the OxyContin maker’s bankruptcy proceedings, four …

Texas Power Firm Hit With $2.1 Billion Bill Files for Bankruptcy

The largest power generation and transmission cooperative in Texas filed for bankruptcy in the wake of power outages that caused an energy crisis during the winter freeze last month. Brazos Electric Power Cooperative filed for Chapter 11 in Texas after …

Wildfire Victims Sue Former PG&E Executives Alleging Neglect

SAN RAMON, Calif. (AP) — A trust representing more than 80,000 victims of deadly wildfires ignited by Pacific Gas and Electric’s rickety electrical grid is suing nearly two dozen of the utility’s former executives and board members, alleging they neglected …

Bankruptcy Judge Refuses to Halt Weinstein Co. Plan

WILMINGTON, Del. (AP) — The Delaware judge presiding over the Weinstein Co. bankruptcy has rejected a request by four women who have accused disgraced film mogul Harvey Weinstein of sexual misconduct to put her approval of the company’s bankruptcy plan …

Insurers Question Claims Process in Boy Scouts Bankruptcy

DOVER, Del. (AP) — The judge presiding over the Boys Scout of America bankruptcy is weighing a request by insurance companies for permission to serve document requests on 1,400 people who have filed sexual abuse claims and to question scores …

Attorneys Challenge Weinstein Co. Bankruptcy Plan Approval

DOVER, Del. (AP) — Four women who have accused disgraced film mogul Harvey Weinstein of sexual misconduct are appealing a Delaware judge’s approval of the Weinstein Co.’s bankruptcy plan. Attorneys filed the appeal in U.S. District Court in Delaware on …

Utility to Pay $2B Settlement in Deadly 2018 California Fire

LOS ANGELES (AP) — Southern California Edison will pay $2.2 billion to settle insurance claims from a deadly, destructive wildfire sparked by its equipment in 2018, the utility announced Monday. Edison, which acknowledged no wrongdoing, said the agreement covers all …