35 Burst results for "Bankruptcy Court"
"bankruptcy court" Discussed on NPR's Business Story of the Day
"NPR has found that this case is not unique. More and more wealthy corporations and individuals accused of wrongdoing are using bankruptcy courts to shield themselves from lawsuits. Let's bring on NPR's Brian man Bryan. You reported on how J&J's bankruptcy maneuver affected one woman Hannah wilt remind us upper story. Sure, a Hannah wilt is one of these women who sued J&J, claiming asbestos and Johnson's baby powder gave her a terrible form of cancer called mesothelioma. J&J denies any wrongdoing says their product was safe. And normally this is the kind of disagreement that a lawsuit like Hannah wilts would settle. You know, did J&J do anything wrong here or not? Instead, J&J used this bankruptcy maneuver to freeze all of these thousands of lawsuits, including hers. And when I spoke to Hannah wilt, she was outraged. What I see is who can play the game best. Big corporations trying to work the system in a way that they don't have to take full responsibility is not something new. And Hannah will died in February at age 27 while her case was still tangled up in this legal maneuver. I should say we asked J&J repeatedly for an interview about this and they declined. Brian, how is this allowed to happen? I mean, how can companies use bankruptcy court if they're not bankrupt? It's a little bit complicated, but let me walk you through it. Let's say you're valuable, profitable company has been accused of doing something really bad. So you're facing a tsunami of lawsuits. What you might do is spin off a subsidiary and then push all those lawsuits, all that legal and financial risk onto the balance sheet of the new firm. Then you shove that other firm into bankruptcy. And as a final step, you offer to help pay that other company's creditors as part of some kind of bankruptcy settlement. It's important to note that not everyone can follow this path to get a bankruptcy court to agree to this kind of legal maneuver. You probably have to pay a lot of money, maybe billions of dollars. And then in return, you get something big. You get a clean legal slate. Immunity from future lawsuits and critics say this amounts to a kind of pay to play system of justice for the very wealthy. Most of us obviously can't use it because we're not rich enough to pay for these big settlements. Okay, so Johnson & Johnson used this kind of bankruptcy maneuver. Are there any other examples? Yeah, NPR found these bankruptcy maneuvers or shaping some of the biggest court fights in the country over the past few years. Members of the Sackler family who own Purdue pharma aren't themselves bankrupt. They're very wealthy, but they've offered to pay $6 billion as part of a bankruptcy deal. And in exchange, they would get full protection from lawsuits linked to OxyContin and the opioid epidemic in another big case, the U.S. Olympic and Paralympic committee and also another case of the Boy Scouts. They aren't bankrupt. They have lots of assets, but they used bankruptcy strategies similar to these to block lawsuits linked to child sexual assault. But why are bankruptcy judges allowing this? Yeah, this is fascinating a and some parts of the U.S., these bankruptcy maneuvers aren't even legal. There's a kind of patchwork of law on this, but it turns out bankruptcy rules allow people in companies to kind of pick their bankruptcy courts. It's called venue shopping. And so what these companies have found is that there is a relatively small group of bankruptcy judges who will allow and even encourage the strategy. Judge Michael caplan, who's overseeing the J&J bankruptcy laid out the argument in a recent ruling that sometimes bankruptcy courts like his are the best place to tackle complicated legal cases. Again, even when the cases don't actually involve bankrupt companies. Is there anyone at all trying to reign all of this in? Yeah, there are two appeals court cases right now that are challenging these bankruptcy maneuvers. One brought by the Justice Department, which has a bankruptcy watchdog agency, they think this may all be unconstitutional. I also spoke about this with Lindsey Simon, who teaches bankruptcy law at the university of Georgia. She thinks it's possible courts will eventually stop rich companies and individuals from doing this at all. I think if you really look closely at what the bankruptcy code allows, it's not altogether clear that this is permitted. And so I do think there's a realistic chance that at some point a court will say it's not allowed. Members of Congress are also considering legislation to limit the power of bankruptcy courts to cut these deals, no bills, though, appear to be close to passage. So the bottom line is that for now the gates to this kind of practice or wide open until something changes everyone I talk to expects to see more and more wealthy companies and individuals going this route turning to bankruptcy courts when they're accused of wrongdoing without ever being forced to actually file for bankruptcy. That's NPR's Brian man, Brian, thanks. Thank you. Will Smith gave this year's Oscars its most notorious moment. He slapped Chris Rock, then won a statue for best actor. And we've got your recap of what happened, plus the winners and highlights. Listen to the pop culture happy hour podcast from.
USA Gymnastics, USOPC reach $380M settlement with victims
"USA USA gymnastics gymnastics and and the the U. U. S. S. Olympic Olympic and and Paralympic Paralympic committee committee will will pay pay three three hundred hundred eighty eighty million million dollars dollars to to the the victims victims of of sexual sexual abuse abuse by by former former USA USA gymnastics gymnastics team team doctor doctor Larry Larry Nassar Nassar a a federal federal bankruptcy bankruptcy court court in in Indianapolis Indianapolis confirmed confirmed of of the the settlement settlement over over ninety ninety percent percent of of the the more more than than five five hundred hundred victims victims had had voted voted in in favor favor of of a a tentative tentative agreement agreement reached reached in in September September additionally additionally non non monetary monetary provisions provisions include include a a dedicated dedicated seat seat for for victims victims of of Nassar Nassar on on the the USA USA gymnastics gymnastics safe safe sport sport committee committee the the athlete athlete health health and and wellness wellness council council and and board board of of directors directors Nassar Nassar who who worked worked at at Michigan Michigan State State University University USA USA gymnastics gymnastics and and the the Michigan Michigan Jim Jim was was sentenced sentenced in in twenty twenty eighteen eighteen to to forty forty to to one one hundred hundred seventy seventy five five years years in in prison prison after after pleading pleading guilty guilty to to sexually sexually assaulting assaulting female female gymnasts gymnasts hi hi Mike Mike Rossio Rossio
USA Gymnastics Eyes $425 Million Settlement With Abuse Survivors
"Hi Mike Rossi a reporting USA gymnastics proposes a four hundred twenty five million dollar settlement with survivors of the Larry Nassar sexual abuse scandal nearly three years after USA gymnastics filed for bankruptcy in the wake of the Larry Nassar scandal the organization and the survivors committee representing hundreds of women have filed a joint four hundred twenty five million dollars settlement proposal in U. S. bankruptcy court Nassar who worked as a sports doctor for USA gymnastics and Michigan State University is in prison in Michigan for sexual assault and possession of child **** the proposal needs to be approved by the survivors and any other creditors votes must be in by November eighth and written objections are due by November nineteenth a confirmation hearing is scheduled for early December hi Mike Rossi
Judge Dismisses National Rifle Association's Bankruptcy Case
"Federal judge in Dallas, dismissing the National Rifle Association's attempt to file for bankruptcy, the judge said he had great concern the N R A was misusing the bankruptcy court. He said the NR A's primary purpose of the bankruptcy filing was to avoid potential dissolution here in New York, where the attorney general's office had accused the organization and its lead. Wayne LaPierre of widespread misuse of assets using bankruptcy to avoid disillusion. The judge called problematic and he dismissed the case as not having been filed in good faith. NBC's Aaron Carter Ski
Purdue Pharma proposes $10 billion plan to come out of bankruptcy
"Pharma the maker of oxycontin filed. Its long bankruptcy plan just before midnight last night in a federal court right. So here's the plan. The company itself will be dissolved. A new organization will be created that would direct profits to help people who were hurt by the opioid epidemic but two dozen states came right out and they rejected that plan. They say it doesn't hold the sackler family which owns purdue pharma accountable. Let's bring bringing. Npr's addiction correspondent. Brian man Brian what does purdue pharma savings. This plan will do the company's president a he's a guy named steve miller and he says this new company that will be created from the ashes of purdue farmable essentially exist to benefit the public. The sackler will have no role or ownership going forward and over time. This new firm will generate hundreds of millions of dollars much of it from selling oxycontin which they say they can do ethically and safely. They'll also produce other medicines that will help people with opioid addiction. According to purdue pharma the total value over time To thousands of creditors will be billions of dollars and members of the sackler family also issued a statement last night. They said this plan offers. And i'm quoting here. An important step forward helping those who suffer from addiction. Okay but wire so many states unhappy about this a lot of reasons but a big complaint is from state attorney general most of them democrats who say that purdue pharma and its owners the sackler only offering up about five hundred million dollars right up front the rest of the cash payments including four point. Two billion dollars promised by the sackler themselves. All that money would be spread out in installments. Paid over most of the next decade that really angers critics like more healey. She's attorney general in massachusetts. What the are offering essentially as a way for the payments to be structured. That makes it convenient for them. They get to keep their billions and bank accounts and make money and use the to pay. You know the states out over time while they're oxycontin or chin keeps growly and there's another row bay for critics and it's affected a lot of the ten billion dollars in value. Promise by purdue pharma in this deal doesn't actually come in the form of cash that communities desperately need to pay for things like addiction programs in public health instead. This plan would provide low cost addiction treatment drugs like buprenorphine and lock zone which the new spin off company would make and sell at a discount. Then what happens to the sackler here. Because if the federal bankruptcy court approves this plan i mean they feel any personal thing at all. This is a really big question. After launching oxycontin and claiming it was safer than opioids other opioids the sackler and their company hauled in more than thirty dollars in revenue. Purdue pharma has since pleaded guilty twice to federal criminal charges for their marketing of opioids researchers say oxycontin contributed to this explosion of opioid addiction and death. Now the actors have agreed to give up control of their company. But some critics point out that purdue pharma was already sinking under the crush of all these lawsuits. So it's not clear how big a financial sacrifice that really is. Members of the family also added about a billion dollars to the earlier settlement offer. They made but in this deal they will keep most of their personal fortunes and they'll admit no
"bankruptcy court" Discussed on Bloomberg Radio New York
"Governor Andrew Cuomo says New York is in a better place after the post holiday spike in covert 19 and can begin to loosen restrictions and increase economic activity. Cuomo says elective surgeries can resume in every county and Maura adjustments will be made over the next couple of days. Woman also says, though, while residents need to get on with life, be smart, don't get cocky with cold with this virus has been ahead of us every step of the way. You know there are certain things to do that are smart. As for indoor dining re opening in New York City, Cuomo says they're not contemplating any changes for now. Over 19 vaccines are getting tougher to get for many Americans who are eligible. The scarcity is forcing many mega sites to cancel appointments and some online forms are banning people from signing up. In New York City Mayor Bill de Blasio says about 600,000 vaccines have been administered since mid December. However, we have a supply problem. We have a flexibility problem. Cause we can't access second doses that are being held in reserve for weeks ahead and use them now is first doses where there's such intense demand. De Blasio says he is confident the vaccine supply will increase due to conversations he has had With President Biden's campaign. The threats and concerns about armed protesters returning to the capital have prompted federal law enforcement officials to insist that thousands of National Guard troops remain in Washington in the coming weeks. General Daniel Hawkinson Thank the outpouring of support from local restaurants donating food for our heroes. Over the past week, I received multiple phone calls from President Biden, members of our congressional delegations and military service organizations. Expressing their thanks to the incredible soldiers in German who have left their employers in their families to serve their nation. Troop levels will be drawn down from 7002 more than 5000 and will remain there through mid March. Federal bankruptcy Court judge approved a liquidation plan for disgrace producer Harvey Weinstein studio. The plan calls for $17 million payout. Several dozen of Weinsteins victims. Weinstein is currently jailed in western New York following a sex crimes conviction in Manhattan. Ah, former aide to ex New Jersey governor Chris Christie during the Bridgegate scandal is running for office. Bridget Anne Kelly, who was convicted in the scandal, says she's running for the Republican nomination for Bergen County Clerk Global Day. Who's 24 hours a day on air and on Bloomberg. Quick take powered by more than 2700, journalists and analysts more than 120 countries, Michael Barr, and this is Bloomberg. Nathan are Michael. Thanks going up to 6.
Court Approves $17 Million Payout to Harvey Weinstein’s Victims
"For assets of a big movie and TV producer to pay his victims from a federal bankruptcy court judge. The plan calls for a $17 million payout to several dozen of Harvey Weinstein is victim's former officers and directors, including Weinsteins, brother Bob will share nearly 10 Million and are absolved of liability for enabling Weinstein sexual depravity. The attorney who represented the Weinstein company, said he's pleased this very difficult chapter in the lives of many people can now be put behind them. Women can still pursue civil claims against Weinstein, who's currently jailed in Western New York following a sex crimes conviction in Manhattan. But there are few assets left to recover. They're in
NRA declares bankruptcy, NY AG vows to continue suing
"The national rifle association may have filed for bankruptcy protection Friday but new York's Attorney General promises to continue going after the organization the NRA is looking to incorporate in Texas instead of New York where the state sued them over claims that top executives illegally diverted tens of millions of dollars for lavish personal trips no show contracts or associates and other questionable spending the NRA's bankruptcy filing listed up to five hundred million dollars in liabilities and the same in assets Attorney General issued James we will continue our efforts because this organization has gone unchecked for years it's real quick and it's critically important that we continue to hold them accountable even in bankruptcy court James was speaking at a town hall hosted by congresswoman Alexandria Ocasio Cortez I'm Julie Walker
"bankruptcy court" Discussed on WTVN
"In 2018. There was 7 75 and 2019 603. So nothing. We're going down. But you ready going up and down? 1396 1396 and 2019 2020. I'm sorry, 2020. I guess life was probably dancing on the streets on that. That's right. But so what happened this year? Now you're to date. 124 people shot to death. So far, every woman on the 16th day of that year we're not even out of January 26 of Mohammed sites. And Columbus. Hey, we're not too far behind. We got 14. And 16 days. Have you like that? And I think it's one hour than that, as we were talking to Jim, and there's some probably numbers that aren't being disseminated out here. So Craziness Crazy. Just sitting to my immediate right is, of course, Jim Scanlan retired from CPD. You spend a number of years there 33 33 years while and still very, very active and keeping up with the pulse of what's going on around the city and stuff. So it's great to have you here. Always always good to see. You know, we talked. He was going to suit back up again. You know, they need him to think that those days are gone. Not in this. I'll tell you If you missed the show, you can always catch the podcast. I said 16 w T V and dot com and actually, Emily. I don't know if this if I could make this statement in, but she's been putting the podcast up almost same day now. So you checked those out? It's also on iTunes in Google podcast, and if you have a question for us throughout the week, best way to get ahold of us on target. L A p d dot com sends an email were always checking that if you have a suggestion for going on the week or a topic coming up, that's the best place to get in touch with us. LAPD update. We're still tell you what it is still slim pickings as I look across the showroom floor here, I see empty counters. Um M o still tough to get. We still have some at the moment. But here is a here's a scary proposition. JC. If we continue at the pace we are on right now. Yeah, nothing changes. If nothing changes in the supply chain we estimate by mid February, we will not have a physical gun in the store to sell it. That's crazy, or I mean, it's horrible. But standing with this country. Yep, This is time to go on vacation. Well, no, no, I think Eric and I talked about that We're gonna bring in our firearms and we'll stop the whole store. That's true, But not too many people want them. Well, guns one day, you should see the stuff to sell now. O J A C Get to some of the news here. Is there some big news What you got? I have so much news. I could do the whole show on it. Okay? We'll just start off with Big one That was announced yesterday that the Nash the National Rifle Association. Has declared bankruptcy. And plans to move out of New York into Texas. So there's just enough that Yeah, it's been going that way. But it's kind of a big deal with it. They found chapter 11 petitions of the U. S Bankruptcy Court in Dallas. Texas Friday, seeking protection from their creditors. And, of course restructuring so they want to restructure in Texas is a non profit on Dave. A motive, they said, was the there in New York and New York, Of course. Their governor. Just he is horrible When it comes to guns. He just wants to take him away from anyone he wants to crush you generate. They just said it was a corrupt political and regulatory environment in New York state. Where they're currently registered. That's where it was charted back in 18 71. That's how will the entire area is, and that's what was chartered, but but they want to go to Texas so well. They did say that there's no media changes, operations or the workforce and they'll continue forward. The only A peccadillo here is flying the ointment is that New York has this up law that says if a company is under investigation or organization That they will not allow them to to leave the state and they could drag this out forever. And.
"bankruptcy court" Discussed on WBZ NewsRadio 1030
"Amount. When the Boy Scouts first filed for chapter 11 bankruptcy protection about two years ago, they anticipated at the time that they would face about 12,000 claims. They thought it might cost them up to a half billion dollars. Now, though, they're facing 90,000 claims. They say they have assets in excess of a billion dollars. The question is, Can they survive this flood of abuse claims? What else have we heard from any of the You know the victims in this on how deeply affected them? Well, the the range First of all, Sherry is astounding. The oldest in the boy Scouts cases 93 years old. The youngest is eight. So this has been going on. According to the alleged victims since the 19 forties, and it is a tremendous indictment of scouting in the United States and for people who say they were abused. They now have to come forward. They say it was were difficult. Maybe now well after the fact that it was initially and they don't get their day in court, the claim is going to be evaluated by a third party. Valid claims are going to be paid out, according to some formula established by the bankruptcy court filing for bankruptcy. What does that do for these entities like this who are accused of all these cases of abuse? It really tries to protect them from becoming an entirely insolvent. Instead of dealing with these Klayman's through the courts will have a more organized process to try and pay out claims, according to a formula. We're not sure the boy Scouts are going to be able to come back from this. It's really questionable. Sherry whether any deal can now be worked out. That would be acceptable to victims. And that could see that the boy Scouts emerging as an intact organization. The other big story that took place this week had to do with the landmark settlement against Purdue Pharma. The $8 billion is that something that will be OK for people are there some people who have a few complaints with that, Oh, there's still a lot of people that have complaints about this settlement agreement that the Justice Department reached with produce Farm, Assyrian and the bankruptcy Court judge and White Means authorized this settlement to move forward. But there's still some negotiating to do what this calls for is produced Pharma pleading guilty to three felony charges as early as next week and in federal court in New Jersey. And that will confirm what you know. Opioid victims and states and cities have long alleged, which is they were marketing OxyContin in particular, but also other opioids far in excess of the way it should have been prescribed and along the way, ignoring the risks of what the drug could do. We know the results tens of thousands of deaths attributed to opioid overdoses. The other thing the Justice Department agreed to do is keep on Lee a fraction of the settlement money. The Justice Department said it wanted to keep $225 million. And forego another $1.7 billion and give that money directly to the states to help them deal with the opioid crisis in their own communities. The catch, of course, is that The company needs to emerge from bankruptcy as a public benefit corporation and sherry. This means that it's governed. Not just according to the You know the laws of profit and loss but also with public health in mind. Sackler family, effectively, according to critics walks away from this unscathed. Now they don't have a company anymore, but they already have plenty of money. The Sackler family Was not brought up on any criminal charges. To be sure, federal prosecutors said the deal does not prevent them from being charged in the future, but that we know of There is not any criminal case in the works effectively. Critics say they get away with it. And, according to the city, see from 1999 to 2018 almost 450,000.
"bankruptcy court" Discussed on KOMO
"Filed for bankruptcy protection. At the time, lawyers had expected hundreds of men to come forward, asking to be a part of the suit, but they never expected how many actually would ABC senior investigative reporter Erin Khutor Ski has been following both of these stories and has more on the context behind each, beginning with the Scouts at least 92,700 claims of sexual abuse in the In the Boy Scouts. This is almost unfathomable. It's a staggering amount. When the Boy Scouts first filed for chapter 11 bankruptcy protection about two years ago, they anticipated at the time that they would face about 12,000 claims. They thought it might cost them up to a half billion dollars. Now, though, they're facing 90,000 claims. They say they have assets in excess of a billion dollars. The question is, Can they survive this flood of abuse claims? What else have we heard from any of the You know the victims in this on how deeply affected them? Well, the range First of all, Sherry is astounding. The oldest in the boy Scouts cases 93 years old. The youngest is eight. So this has been going on. According to the alleged victims since the 19 forties, and it is a tremendous indictment of scouting in the United States and for people who say they were abused. They now have to come forward. They say it was. We're difficulty, maybe now well after the fact that it was initially and they don't get their day in court, the claim is going to be evaluated by a third party. Valid claims are going to be paid out, according to some formula established by the bankruptcy court filing for bankruptcy. What does that do for these entities like this who are accused of all these cases of abuse? It really tries to protect them from becoming an entirely insolvent. Instead of dealing with these Klayman's through the courts, they'll have a more organized process to try and pay out claims, according to a formula. We're not sure the boy Scouts are going to be able to come back from this. It's really questionable. Sherry whether any deal can now be worked out. That would be acceptable to victims. And that could see that the boy Scouts emerging as an intact organization. The other big story that took place this week had to do with the landmark settlement against Purdue Pharma. The $8 billion is that something that will be OK for people are there some people who have a few complaints with that, Oh there. There's still a lot of people that have complaints about this settlement agreement that the Justice Department reached with produce Farm, Assyrian and the bankruptcy Court judge and white Means authorized this settlement to move forward. But there's still some negotiating to do what this calls for is produced Pharma pleading guilty to three felony charges as early as next week and in federal court in New Jersey. And that will confirm what you know. Opioid victims and states and cities have long alleged, which is they were marketing OxyContin in particular, but also other opioids far in excess of the way it should have been prescribed and along the way, ignoring the risks of what the drug could do. We know the results tens of thousands of deaths attributed to opioid overdoses. The other thing the Justice Department agreed to do is keep on Lee a fraction of the settlement money. The Justice Department said it wanted to keep $225 million. And forego another $1.7 billion and give that money directly to the states to help them deal with the opioid crisis in their own communities. The catch, of course, is that the company needs to emerge from bankruptcy as a public benefit corporation and sherry. This means that it's governed. Not just according to the You know the laws of profit and loss but also with public health in mind. Sackler family, effectively, according to critics walks away from this unscathed. Now they don't have a company anymore. But they already have plenty of money. The Sackler family was not brought up on any criminal charges. To be sure. Federal prosecutors said the deal does not prevent them from being charged in the future. But that we know of there is not any criminal case in the works effectively. Critics say they get away with it. And, according to the CDC, from 1999, to 2018, almost 450,000 Americans, Have died because of opioid abuse is Erin. Thank you so much for both big stories.
Nearly 93,000 sexual abuse claims filed against Boy Scouts
"The Boy Scouts of America will face about 90,000 claims of sexual abuse. Here's a B C's Aaron Carter Ski The bankruptcy court deadline for submitting claims against the Boy Scouts of America has passed and one plaintiff's attorney called the number of cases staggering. Boy Scouts of America filed for Chapter 11 protection in February after several states gave alleged childhood victims more leeway to sue. The number of claims far exceeded expectations, and the organization said it is devastated by the number of lives impacted by past abuse and scouting and moved by the bravery of those who've come forward. Valid claims will be paid out from a fund established during the bankruptcy
US Bankruptcy Court Approves Sale of JC Penney
"The road back J. C. Penney is on track to emerge from bankruptcy by Thanksgiving now. That a court has approved. It sailed to Brookfield Asset Management and Simon Property Group, two of the nation's largest mall owners. Be seized area Aldinger, This is ABC News
"bankruptcy court" Discussed on KOMO
"Technology shares, notching a solid rebound. Stocks finished mostly hired today, Even his blue chips fell slightly. The tech heavy NASDAQ composite leapt 2% 232 points. I'm a big name Techstocks, Amazon and Apple rose more than 3% each. The S and P 500 gained 27 points. But the Dow Jones industrial average dipped 23. J. C Penny will live on a U. S. Bankruptcy Court In Texas today approved the sale of the struggling 118 year Old department store chain to its two largest landlord sent its primary lenders. Sell. Penny is on course to emerge from bankruptcy by Thanksgiving will move forward with plans to shutter nearly a third of its stores over the next two years. That's your money now. A month after recovering from covert 19 and Oregon Nurse says she's still coughing and having some breathing issues, and she's talking about the decision to intentionally expose her son to the virus. Katie Ormerod is a nurse who works in the emergency room continually exposed to the Corona virus, but not afraid of getting it. When she developed a cough in September. She did not think much of it. Then I developed a headache is like really intense pressure in my head. And then when I coughed my head just kind of pull state. She was tested and isolated from her husband and two kids hoping to protect them. Two days later, she found out she was positive. I gathered up my belongings in my house and said Bye and went up to my bedroom and pretty much didn't leave my room for about 25 days. Katie's five year old daughter also soon tested positive, so she pulled her into the isolation room upstairs. And they decided to bring her two year old in his well, hoping to protect her husband who had tested negative. Katie's one of 5000, Oregon, health care workers who've been infected with the virus since the start of the pandemic. Carleen Johnson, Come on news. Come on traffic..
"bankruptcy court" Discussed on KLBJ 590AM
"And if anyone place to deposit for 2020, and you did not request to refund they don't need to place another deposit. They got it already. All right, So there you go. You have the priority remains ahead for the 2021 deposits. According to Kota, Why would they not be able to do this? Come on. I mean, we've been having basketball golf. We've been having football baseball fans outside. That's it. Come on. There's a lot of room now. They might have to limit it. We'll see where we are. By Then my hope would be October. 2021 will be. Ah, you know, we'll be. We'll have the vaccine by then, and we'll be. We'll be up to full speed. So good you got they've got a plan. They've got to do this. They have to look at the all everything you got to look. That things in this this way were by then we've got to push on. I'm going to try to get into foreign racing. I'll be honest with you. I've always been a NASCAR guy. But now that the wife has that C eight convertible Corvette, the 2028. I'm now a supercar guy, are you? Yeah. I mean, I'm a super card. I knew there was something different about you. Do I look like a supercar guy? I can tell that you're white loss or there's just a bit of an attitude. First of all, thank you for noticing that But, yeah, I can't wait to get out their state of the art. It is 6 24, also in Business News, a major department store chain is exiting bankruptcy sooner than expected. Now that the bankruptcy court has approved the sale of J C penny to its landlord's, it could be out of bankruptcy by Thanksgiving, Brookfield Asset Management and Simon Property Group are buying the department store chain. Penny filed for Chapter 11 bankruptcy in May and plans to permanently closed nearly a third of its stores. In the next two years as part of its restructuring. The change will leave 600 stores remaining CEO Jill Salt. How says the company's goal from the beginning has been to ensure that J. C Penny will continue to serve customers for decades to come. GeneCo's Silda Box Neither you go. J. C Penny, a little bit of life left just will not go well. They got that cool partnership with Sephora, the makeup company. I think Target has done the same thing. Maybe. Ah, lady out there listening with Alta. Am I right about is an altar or ultra. It's Alta Alta. Alta. Yeah, 100 different locations. Targets down there trying to, you know, get creative. Got to. Yeah, they've got Tio this guy. We got to see what malls they're going to do. Going forward to get people out there. I don't know how how they're going to do it. Jab in South Austin on the tide of Don show Good morning. Good morning, guys. How are you? All right, What's on your mind? Hey, Something's been on my mind quite a bit since I was studying the property, which, by the way I voted against that was shocked at how easily it passed, too. There is a website called indi Austin dot org's Don't know Ifyou've got divers scene I have a really interesting expose our The investments made by DDT land Group incorporated and regarding Diane Land and mayor and his wife and some of the properties that they have sure acquired that are just Coincidentally, maybe located very near those lines. We brought that up about six months ago. We've kind of been watching that percolate behind the scenes, but you're You're absolutely right, Jeb. It's kind of it's kind of dirty in it. At least it's it looks a little dirty, doesn't it? Look a little sneaky, too. May Thank you. Jab it is 6 26 here on the side of Don show. First of all, Thank you for noticing my weight loss. I appreciate that hearing that from you working. I mean, I'm on my way to reaching £190 still got about Ah, about £18 to go about that. Yeah. You mean OK, So your goal you're my gall is 1 90. My goal is 1 90. So you got eight about about £20 to go? Yeah, I'm right at 2 10, your 2 10 2 10. You want to pick me up? You wanna pick me up? No, You don't look like you're up to 10. You don't think I carry it? Well, I guess Yeah. Ah have been on that sort of weight loss program and and it's working. It's helping not only lose a few pounds, and as I get closer to my my goal, I have found its a little bit more difficult than most folks are losing 3 to £5 a week Jason Dick lost £125 host to the afternoon sports show. And I got an email from ah, loyal listener of the tide of Don show named Rick and he says I was recently diagnosed with diabetes. Thank you for bringing up soda weight loss. It's helping me lose weight. I'm down £15.0. That's great. That was one of the reasons why I started reaching out to. So it is because I just want to get rid of this fat loss. This fat wait. My nutritionist, and it's all about nutrition. Is Amanda Motivating accountability? If you get your nutrition rights, you're going to start to lose weight. In fact, it's about 80% of the weight loss effort is your nutrition. Reach out to soda weight loss dot com Put on the soda at home nationwide tab in the left hand corner. You gotta love it very easy..
US bankruptcy court approves sale of J.C. Penney
"Store chain is exiting bankruptcy sooner than expected. Now that the bankruptcy court has approved the sale of J C penny to its landlord's, it could be out of bankruptcy by Thanksgiving, Brookfield Asset Management and Simon Property Group are buying the department store chain. Penny filed for Chapter 11 bankruptcy in May and plans to permanently closed nearly a third of its stores. In the next two years as part of its restructuring. The change will leave 600 stores remaining CEO Jill Salt. How says the company's goal from the beginning has been to ensure that J. C Penny will continue to serve customers for decades to come. GeneCo's
U.S. bankruptcy court approves sale of J.C. Penney
"A bankruptcy court agreement has breathed new life into J. C. Penney stores the legacy retail chain is on track to emerge from bankruptcy by thanksgiving after a Texas court approved a purchase agreement involving J. C. Penney's two largest landlords Simon property group and Brookfield asset management along with its primary lenders about a third of the stores will close in a restructuring phase leaving six hundred locations still standing if the deal hadn't gone through this month the company would have had to go out of business but J. C. Penney still faces an uphill battle many people are staying home because of the pandemic and they're shopping online at discount stores hi Jackie Quinn
OxiContin Maker To Pay Out Billions In Civil, Criminal Penalties
"The makers of oxycontin one of the drugs blame for sending off the OPIOID crisis will plead guilty to federal criminal charges. The Justice Department announced those charges against Purdue Pharma yesterday as part of an eight billion dollar settlement NPR addiction correspondent Brian Man is with US Brian Good Morning. Steve, how's a settlement? GonNa work. Yeah. So if it's approved by a federal bankruptcy judge, Steve The purdue Pharma will admit to the three felony charges including a charge that they misled doctors about the safety of medications like Oxycontin, over time, then the company would pay out billions of dollars in civil and criminal penalties, Jeffrey Rosen, the deputy attorney general who outlined the agreement yesterday says the sackler family would also be forced to give up control of their company. Instead of being the owners of a major pharmaceutical company, they will have no stake in that company. Now that sounds like a lot but critics are pointing to the fact that Purdue Pharma was already in big trouble facing bankruptcy struggling to hold onto employees and flooded with thousands of lawsuits tied to the improper marketing of opioids, and despite all that under this deal does federal deal the sackler walk away with most of their personal fortunes intact by some estimates there worth as much as ten billion dollars because of OPIOID prophets, they'll pay a fraction of that in penalties only about two hundred, twenty, five, million dollars out of their own pockets and Steve. There are no criminal charges against them the sackler. Admit to know personal wrongdoing. Well, how do prosecutors explain the deal would include no criminal charges and the sackler not entirely but mostly giving up a pile of liabilities rather than a penalty they would really feel. Deputy. Attorney General. Rosen was asked about this yesterday and he says these penalties go as far as the government can right now holding purdue and the sackler accountable. There is no law that says if you've done something wrong, we should just simply strip somebody of all their assets in existence that's not how it works. It has to be that we are looking at specific ex wrongdoing civilly or criminally, and then having a proportionate response but a lot of people including more than two dozen state attorneys, general dozens of members of Congress advocates for people suffering from addiction. They all say, this isn't proportionate response. They say members of the sackler family played a personal role pushing the prescription opioid boom developing these illegal and deceptive marketing practices that made purdue. Pharma. So profitable the Tissue James is New York State Attorney General, and she's suing members of the. Sackler family, her team tracked hundreds of millions of dollars in opioid prophets that the sackler sent to offshore accounts. She told. NPR. This justice department deal doesn't go nearly far enough doesn't account the hundreds of thousands of deaths of millions of addictions caused by produce farmer in the sackler family all of destruction that they have caused it basically allows billionaires to keep their billions without any accounting for how much a really made James says her state probe of the sackler family will continue. Meanwhile, there's one more detailed, the settlement that sparking. Anger, it turns out purdue. Pharma doesn't actually have enough money left to pay out the billions of dollars agreed to in this settlement. So the plan is for the government to reorganize Purdue Pharma into what's known as a public benefit company that means prophets from future sales of opioids like oxycontin would be used to pay for drug treatment and rehabilitation programs around the country Greg mcneal lives in. Ohio. One of the states hit hardest by the OPIOID epidemic and he lost his son Sam to an overdose five years ago. He. Says this idea of the government getting into the OPIOID business now after it's caused so much harm. He says it just feels wrong it. It just seems ill advised having the government entered into that business. Gosh. There's something about that. That just doesn't doesn't add up at all. And I should say Steve Twenty five state attorneys general agree they signed a letter last week they send it to Attorney General William Bar arguing that this arrangement is ethically wrong and could shelter purdue Pharma and the sackler from future criminal or civil liability Brian Kennedy at least be said for the deal that there's some money here that might help people harmed by the. OPIOID. Epidemic. That will definitely that's what the Justice Department is saying. So let's take stock for a second nearly seventy two thousand people died from overdoses last year this is still ongoing. A lot of those were opioid deaths. What US attorneys say is if this deal is finalized by the bankruptcy court, it would mean extraordinary new resources for states and cities and tribal governments struggling to keep people alive. But one thing everyone agrees to here is that this problem is so big now affecting. So many Americans they say the eight billion dollars from purdue, Pharma is really just a drop in the bucket.
"bankruptcy court" Discussed on KCRW
"Down. He wants to listen to Dr Fauci. Want to listen to. Dr Biden said he would follow the guidance of experts on whether to recommend any further lockdowns. ASIA Roscoe NPR News. Meanwhile, Democratic presidential hopeful Joe Biden accused President Trump's dismissal of science and his own corona virus experts as his closing argument as the election looms. Trump is called ouchy disaster, labelled some of his own infectious disease. Scientists idiots trump, blaming them for what he argued was the nation's mismanagement of the Corona virus pandemic. By noted, however, the pandemic has now claimed more than 220,000 American lives. Campaign, noting trumps closing argument in the 2020 election campaign is to mock Joe Biden for trusting science. Judging. Wisconsin has ruled that bars, restaurants and other indoor places need operated 25% capacity because of a surgeon Corona virus cases There was Marty Michaelson reports of member station W. W. M in Milwaukee. Decision upholding order from Governor Tony Evers earlier this month. Attorneys for the Wisconsin Tavern League sued to overturn the directive. They argued in a virtual court hearing that many businesses have gone under because of the pandemic and feared the order would lead to more closures. Attorneys for the state said the edict is necessary in light of record breaking numbers of cases and hospitalizations. New cases in Wisconsin have been averaging 3000 per day. Then topped an all time high of 4000. On one day last week, the judge ruled that the tavern League couldn't prove that the order would cause more businesses to fold. Attorneys for the tavern League say they'll appeal. For NPR News. I'm Marty Michaelson in Milwaukee. Boeing's long grounded 7 37 Maxjet could soon be flying again, at least over the East Coast. All Max jets have been grounded since early 2019 after a pair of deadly crashes, But American Airlines says it plans to be an operating one backs fly today between December 29th in January, 4th Flying between Miami and New York. Americans says it's considering how much to use the plane. After that. The FAA is still reviewing some of Boeing's changes to the plane on Wall Street. The Dow was down for dirt and 10 points. This's NPR. Man at 404 on a Monday October 19 This's KCR WN Larry Parole. Here's What's happening. Community activists in L. A will march from Mariachi Plaza to the federal building at 5:30 P.m.. They are angry. The bankruptcy court decided to allow Exide to abandon a battery recycling plant in Vernon without cleaning up pollutants like lead and arsenic. The ruling says the lead in the soil is not causing imminent harm. David Pettit is a lawyer for the national Natural Resources defense Counsel and a member of a community advisory group. Little by little, it gets into a child system or a pregnant woman, and that can cause tremendous neurological damage to me that qualifies legally as something that is imminent because the harm is Occurring right now, Right now. Today, thousands of predominantly Latino homes have been contaminated, and now the cleanup responsibility falls on Vernon and its surrounding communities with no budget to do it. State officials have said they're angry about the court's decision. But Pettitte says the state is partially to blame. They ought to be outraged by the opinion, but they also need to look in the mirror. It's a state of done its job. A lot of the lead pollution that we see in Canady wouldn't be there. California's Department of Toxic Substances Control oversees, inspects and licenses facilities. It's also they're responsible ability to make facilities guarantee they have financial resources to clean up their waste. Academy of Motion Picture Arts and Sciences has chosen an expert in African American film for a high profile job. But it's forthcoming museum along Eli's Miracle Mile more on that now from K C. R. W's Jerry Glaser. If you're a regular viewer of Turner Classic movies, you might recognize the name Jacqueline Stewart. The University of Chicago professor teaches film history with a specialty in African American cinema and honor show Silent Sunday nights, she presents silent movies from around the world. In her new job as chief artistic and programming officer for the Academy Museum, Sir will help plan a wide range of activities from exhibitions and screenings to workshops and K through 12 programs. Stewart says through her work, she's seen how movies can shape our understanding of history and of each other, and that cinema has what she calls a unique ability to galvanize dialogue and cultivate empathy. It's 406. Support for NPR comes from I drive with remote PC, providing remote access to PCs Max and service from anywhere, assisting those working from home and also enabling remote assistance for customers at.
J.C. Penney Landlords Nearing Deal to Buy Bankrupt Retailer
"A couple of mall owners air close to a deal to buy Penny out of bankruptcy. The Wall Street Journal says Simon Property group and book Field Partners are making a bid. Other bidders still have time to make an offer. To the bankruptcy court. Simon has also agreed to by Brooks Brothers out of bankruptcy with a partner authentic
"bankruptcy court" Discussed on KTRH
"Houston Municipal courts have extended the suspension of all jury trials through the end of September. The court does remain open for all other proceedings, Anybody summoned for jury duty before the end of September. Doesn't need to show up or take any action. Katie R. H News time is 11 03 The work week in Washington ended without a deal between Democrats and Republicans on a Corona virus stimulus bill in President Trump is vowing to apply his executive authority. We have a report from Fox News, a hastily arranged evening news conference at his New Jersey Golf Club. President. Trump said he would change American law by Fiat. If there wasn't a deal soon. If Democrats continue to hold this critical relief hostage, I will act under my authority as president to get it. Americans the relief they need, including deferring the payroll tax dating back to July 1st, extending enhanced unemployment benefits, deferring student loan payments and forgiving interest until further notice, along with extending the federal eviction moratorium. Even the president knowledge it's constitutionally dicey. Probably. We get sued, but people feel that we can do it. The White House has scheduled a news conference that's going to be coming up it to 30 this afternoon, and the president will be discussing the action. The man, one's called America's toughest of sheriff is not getting back in the office. Joe Arpaio lost Arizona's Republican primary in Maricopa County, Dwayne the Rock Johnson is officially a part owner of the XFL. Delaware Bankruptcy Court approved the $15 million sale yesterday. Ah Hollywood Star teamed up with his ex wife, Danny Garcia and a top sports management firm. They're going to buy the Football League. From WWD Chairman Vince McMahon. News on demand at Katie r h dot com We'll have another update at 11 30. I'm Nikki Courtney on Houston's news, Weather and Traffic Station. NewsRadio 7 40 k T. R H Not all tests of the same when it comes to testing for the Corona virus. Michael Doherty of any lab tests now in Stirling says consumers need to do their homework. There's two categories right? There's the swab, which is do I have active? These? That's not an antibody test. Okay, so if you don't have symptoms by and large Anyway. Having this swab is relevant to see if you were just recently contaminate, which is highly unlikely. That's different than antibodies. So any bodies are like you get the flu shot. You build up a defence Philip antibodies that shows you've been exposed and our bodies will fight things off. And you never know exactly how effective anybody's. They're going to be, because every human beings different Now there's a ton of different antibody testing. You're gonna have to do a little more homework. Basically, you should ask your lab what antibodies test for because there's more than one and you should ask them what they use. For more information, Visit Cove in test Virginia dot com. Or call any lab tests. Now at 7034446633 All pillows and mattresses may look the same, but they are created equal. And the purple grid makes purples, mattresses and pillows like nothing you've ever slept on before. The purple grid is a patented comfort technology designed to neutralize body heat and provide a cooling effect. No other mattress or pillow can replicate. And you can try every purple.
"bankruptcy court" Discussed on 710 WOR
"Process. The president down in the polls has taken an aggressive posture towards Beijing, blaming China for the pandemic should never have been allowed to leave China. Intelligence officials ASSESS China views President Trump as unpredictable and would prefer a president bidet Well, cops are searching for two men who are wanted in connection with the assault and stabbing of a 14 year old boy in the Bronx. The incident was caught on video. It took place on July 30th of 505 p. M. On Soundview Avenue. Two unidentified men approached the victim, and one proceeded to stab him in the back while the other punched and stopped on him while he was on the ground. Authorities say the two men fled towards the Monroe apartment houses on Story Avenue. The victim was taken to a local hospital for his injuries. No arrests have been made The investigation ongoing Three Americans are in custody after an alleged human smuggling attempt in California, The Border Patrol said. It happened Friday near the border wall south of El Centro. Agents ended up pulling over to different vehicles and found a combined 52 illegal immigrants, including 37 hiding under a black tarp in the back of a stake bed truck. The Border Patrol explain. The migrants were between the ages of 18 and 52. Jim Forbes, NBC NEWS radio. Check out what the Rock is cooking Dwayne Johnson, officially now a part owner of the XFL, Delaware Bankruptcy Court, approved to the $15 million sale on Friday, The Hollywood Star teamed up with ex wife Danny Garcia and a top sports management firm to buy the Football League from WW E chairman. McMahon After initial success earlier this year, the XFL was cancelled in March due to the Corona virus pandemic. McMahon's Alfa Entertainment ran the league until it declared bankruptcy in April. Matt Matt Anson NBC NEWS, Radio, sports and weather Next W. R a news time,.
Richard Branson's Virgin Atlantic files for bankruptcy in hammer
"Virgin Atlantic airline of seeking protection from creditors as it tries to survive the pandemic, Michaels tells more. The UK based airline filed for help Tuesday and U. S federal bankruptcy Court in New York. A spokeswoman for Virgin Atlantic cast the bankruptcy filing as part of a court process to carry out a restructuring plan that the airline announced last month. The airline hopes to emerge from the restructuring in September. Virgin Atlantic is the latest airline tow wind up in court because of the financial harm from the Corona virus outbreak.
Hedge fund to pay $312M for McClatchy newspaper chain
"Hedge fund has agreed to pay $312 million to buy long time newspaper publisher McClatchy Out of bankruptcy. Hey Cuties. Julie Chang reports the hedge fund Chatham Asset Management announced yesterday that it plans to offer all employees of their current jobs with the same pay and benefits. Chatham also said it will honor all current collective bargaining agreements. But top executives, including the chairman, Kevin McClatchy, will step down when the deal closes, ending the McClatchy families, 163 year old control of the company. McClatchy, which owns the sacramental be along with 29 other newspapers, is one of the largest newspaper companies in the country. The company files for bankruptcy earlier this year due to a heavy debt load and decline in the newspaper industry. The deal still needs the approval of a bankruptcy court judge and a hearing is scheduled for early next month.
New Trump Campaign ad Looks Bad For Trump
"Donald Trump is in a lot of dead, so it's very unlikely that he actually outright owns anything, but he does love to own himself, and that's the case with the latest campaign ad you put out. Let's take a look. You have reached the nine one one police emergency line due to defunding of the police department. We're sorry, but no one is here to take your call. If you're calling to report a rape, please press one to report a murder press to to report a home invasion press three for all other crimes. Leave your name and number and someone will get back to. You are estimated. Wait. Time is currently five days goodbye. Now if that adds scares, you and you wouldn't WanNa live in the type of country that would have those types of scenes of. And Destruction! You should probably vote trump out of office because all of that footage happened under trump's watch. In fact, all the footage used in that ad was from March and I'll give you. Those details I'm sorry may of this year and I'll give you those details in just a moment, but also one of trump's campaign advisers Boris. Epstein also shared a similar video. NOT THAT AD itself. But in that video you see the violence and the destruction, and he says this would be Joe Biden's America. It's a very scary place except it's happening right now, and it's in trump's America. And I want you to remember what he said during came action. Because if you say wow, I, mean look. They're protesting. The saints that have happened recently police abuse. Yeah, well, trump had four years to fix it, and he didn't. He actually loves when police abuse African American citizens. Why after George Floyd? Floyd, but let's remember to protect the real victims here the confederate flag. And military bases named after confederate heroes so. Yeah he? There's a reason why those things are happening. Even the worst of most of them are overwhelmingly peaceful protests. Of the rioters and looters are because of Donald Trump's complete and utter indifference this issue, so that is trump's America but back. Then when he was accepting the nomination, he said the crime and violence that today our nation will soon. I mean very soon come to an end beginning on. January, twenty twenty seventeen safety will be restored. Saying. Let's let's go to those images and like some screen shots of the video that was used in that campaign ad, which again were from May of this year and we can just obviously. Rebut that ridiculous statement, so that's from Minneapolis. In May of twenty twenty twenty may twenty to be specific. It's an image from the night when a Minneapolis police precinct was burnt down. Okay, let's go to the next one. Another screen shot from trump's add This is a shot of liquor store that was set ablaze on the same night. Again this is in Minneapolis. May Twenty twenty-eighth Twenty twenty when the president of the United States is Donald Trump? And then let's go to one more. It's an image of a window being smashed at a bankruptcy court in Grand Rapids Michigan. And, it was taken. This photo is from May thirtieth twenty twenty so looks like he's by way. He's a criminal himself. I mean defrauded students with trump. University used his own charitable foundation, which had to be shut down because he was utilizing the funds from that charitable foundation to enrich himself. He has violated the emoluments clause of our Constitution over and over and over again he loves crime. He bathes in crime. But he he uses law and order as a dog whistle and a lot of ways. No no way since one hundred percent right and so the slogan is no justice, no peace and that's almost exactly what's happened during the trump era, there's no justice at all the real criminals. The top Roger Stone and all the others have been released from the jails. It's like a reverse Bain. Vicious release all the white collar criminals, and all the crooks of the. And all Donald Trump's friends Michael Milkin. Blagojevich Democrat doesn't matter nothing matters. Okay except Donald Trump's France so did and then at the bottom. Did any of US get justice? No, the police abuse continued, and and what Donald Trump has to offer us more violence and violence begets violence. So that's where we are today and I'm going to go back one more time. Do speech a twenty sixteen while he was accepting the GOP nomination, he said. Nobody knows the system better than me. Which is why I alone can fix it. Okay well. You've got four years to fix it and apparently only one who could do it. So why are you waiting for? The protests are larger. Also different issue violence is on the rise. While you're not fixing it. Are you holding back? Are you holding? America hostage until your second term, and then you will magically fixing who could believe such preposterous things? He obviously is in over. His head doesn't know what he's doing and everything is done has been counterproductive and led to more violence to. What we see in that ad, which is trump's America? Want, they mentioned rate there in the beginning punched out word to scare people even more. If you're reporting a rate, we will not be responding. Who are you kidding? The reason we're a have deep on the police. Responding, anyway, only thirty percent of rape cases across the country are ever solve by our incompetent police. We WanNA defunding partly because we want to build a better police department that actually solves cases.
Bankrupt Hertz gets approval from judge to sell up to $1 bln in shares: report
"Hertz global holdings can go ahead with its plan to raise cash by selling new shares that the bankrupt car rental company readily concedes could end up being ruthless a judge ruled during a bankruptcy court hearing Friday and that hurts can proceed with the offering which the company has said could bring in as much as one billion dollars hurts shares of bond from fifty six cents to two dollars eighty three at last
Bankrupt Hertz Wants to Sell Up to $1 Billion in New Shares
"Its shares the bankrupt car rental giant hertz have been on a roll lately and now it wants to sell a billion dollars worth of new shares but a bankruptcy court judge will rule on that plan
"bankruptcy court" Discussed on Oil and Gas Startups Podcast
"We drilled a few wells down there. They were successful. And then the guys who did the investment so the money from the other side, not the operator. They pulled me over and I started working for them, and so they were backed by. Private Equity Shop in Boston. That had a lot of power generation technology stuff that they were investing in, but then they wanted to build an MP company, so I came in. This employee number two on that deal. We bought a bunch of assets in the Permian we bought. An asset in the San Juan and we bought to water flowed properties one in Oklahoma one in sort of in the panhandle where I went to school. And then Bought an asset in East Texas style, Texas and then the one that killed the whole thing was the platform that we bought in the Gulf, and so we we put all those together. We cleaned them up. We were operating them. Everything was going really well until the end of thirteen sort of first quarter fourteen. So this is about five years of work. And then we quickly like had a meeting starts scrambling said we've got to get rid of all these things. 'cause like this is going down the toilet very fast. And so we started the vesting everything returned some capital, and then I spent the last six months in bankruptcy court with trying to get rid of this. Platform that it toppled over and Katrina that we were trying to clean up and. So. Don't ever do a platform remediation horrible thing to be involved with especially after the. FIASCO! Of Bankruptcy Court and trying to clean up that mess kill. Yeah, and of course like I'm the guy like lowest person on the team. The one who's doing all the work behind the scenes and like you look like you can handle this so much. Just. Take care versus you let us know how it works out. Of finished up that we'll sitting on my hands. Had already been engaged with. The Sky and Austin with us, phoebe. I told him so many times. I am not going. We get banking because honestly bankers drive me freaking crazy especially with..
LATAM becomes largest airline yet driven to bankruptcy by coronavirus
"Airlines which is Latin America's largest air carrier sought bankruptcy court protection in New York after the Copa nineteen pandemic grounded flights across the region chapter eleven petition allows like them to keep on forty one lecture lane carrier works out a plan to pay creditors and turn around the business I have a bankruptcy loan but much is nine hundred million dollars on hand
"bankruptcy court" Discussed on Bloomberg Radio New York
"In the movie my cousin Vinny an incredulous judge questions the lawyer who's wearing a leather jacket and no tie in his courtroom when you come into my court looking like you do you not only sold me but you insult the integrity of this court I apologize Sir but the this is how I dress next time you come into my courtroom you will look Lori LA and I mean you go ahead and wear a suit and tie and that suit an inmate at a some kind of Paul Stanley well this month a federal judge in New York wanted to make sure that lawyers were properly dressed for court and issued a similar instruction in a written order judge Robert drain had decided to go where no other judge has gone before and conduct an entire trial by video it took place in U. S. bankruptcy court in the Southern District of New York well that's where the judges court room is but the lawyers and witnesses were elsewhere joining these intellectual property litigator Terrence Ross a partner at Katten Yujin Rosenman he represented the plaintiff in this case between two competing cable companies so Terry what was it intellectual property lawyer doing in bankruptcy court bankruptcy court actually has jurisdiction over most controversies that arise involving a company that then reorganization even if it's not a traditional bankrupt the area of law so in this particular case there was a charge of false advertising under the Lanham act made by my client within chapter eleven reorganization and that a complaint was brought in the bankruptcy court as what is known as an adversary proceeding and one filed it proceeded in the bankruptcy court and if it were any other false advertising case in a federal District Court was there an urgency about this why did a bankruptcy court decide to become a trailblazer hello one of the fundamental principles in bankruptcy court is you want to move any better through the process as quickly as possible and get them back out the other side of bankruptcy and operating as a regular company this way creditors get paid quickly employees are not not put out of work and normal operations of the company continue so in bankruptcy court there is a premium on speed and efficiency in moving speeding up from start to finish and so although there was a slight delay here due to the cold at nineteen pandemic trial was postponed approximately thirty eight the bankruptcy court he did not want an extended postponement of the trial because there's this overarching principle that you see in bankruptcy proceedings moody's proceedings through the process as quickly as possible get the creditors pay and get the company back out on the other side of bankruptcy judges across the country have been holding not trials but conferences motions and the like by video and there have been reports of everything from barking dogs to lawyers appearing shirtless the judge drain set out any parameters to make sure that didn't happen in his virtual courtroom yeah and it was probably one of the most useful things that happened in the lead up to the video trial the court issued your long and very carefully thought out trial order which included a provision stating and reminding the lawyers that they were in a formal court room setting not withstanding that they were all at different location that judge felt would be conducting this problem the court room from his bench and that he expected the lawyers to comport themselves in a manner consistent with the courtroom appearance with respect to a tire and making sure that they were in an environment although distant from the courthouse that wise had closed courtroom like creating a possible and by that the court actually met no barking dogs no kids interrupting find yourself a quiet place where you had could wipe by good connective itty so that this proceeding could be conducted with all the formalities of any other trial we're all getting used to zoom now was it done by zoom now unfortunately it would not parties actually join the jacket the court that webex be heroes in particular because the facility with which you can share documents on the web back platform however the court I. D. boy he wanted to use for business apparently the white and green the I. T. department in both sides law firms were completely unfamiliar Skype for business when they start looking into it I realized it was a video platform that Microsoft is actually trying to phase out it has never been a patient with respect to the number of persons who can participate via video link the number grows up the glitchy and so this was a real challenge that the court was insisting upon using Skype for.
"bankruptcy court" Discussed on Newsradio 700 WLW
"In manufacturing and construction oxycontin maker Purdue pharma paid at C. E. O. nine million dollars its board chairman nearly four million the twelve months before the company's bankruptcy filing last month that's according to financial documents filed with the bankruptcy court this week Terry Alden or ABC news a tri state student facing charges after allegedly bringing a weapon to class eighteen year old to be true Williams is it the first non healthy student accused of bringing a loaded gun to school this year I think this is at least our fourth one this year were would be there have firearms ripple it's brought into the school you know we really try to appeal to parents parents have really got to be vigilant really have a strong conversation with kids about not bringing guns and firearms or making threats about guns or firearms around schools each taken very seriously police chief Vince the Massey says Williams is currently at the justice center I would be Cunningham newsradio seven hundred WLW road work ready to go again this weekend on north bound seventy one after rain all day last Saturday they were supposed to do more paving work last weekend but the rain delayed it now dot says they'll fire it up Friday night and just like a couple of weekends ago you can expect delays once again the work will be on north bound seventy one between the Norwood lateral in Stuart wrote the eastbound lateral ramp to seventy one will close down about nine o'clock Friday night at two lanes of traffic will be restored on seventy one north plus the ramp from the lateral will be reopened by late Sunday and you can see more details on seven hundred WLW dot com search news I met Reese and a Happy.
"bankruptcy court" Discussed on News 96.5 WDBO
"Was acquitted yesterday of killing her on wanted newborn baby this morning in Ohio she was sentenced to probation one we've got our eye on that system could become tropical storm bear tell the latest track has this thing farther east off Florida's coast what can we expect this weekend here in central Florida starting late tomorrow maybe around eight o'clock or so over there in Brevard counties winded some rain be sure to enable those weather notifications in the news ninety six point five W. D. B. O. I. regular traffic on your phone when you download the news ninety six point five W. D. B. O. app just turn on the traffic notification and you'll receive road closures and delays that could affect your travel news now traffic in one powered by burn federal and this is Orlando's twenty four hour traffic station news ninety six point five W. DPO. good afternoon I'm Carol moody we've got some good news to report on that system that could develop into a tropical storm Alberto this weekend it's moving closer to us from the Bahamas right now our meteorologist Brian shields tells me the track shifted east today which is good for us in central Florida the track looks a little ominous right now the hurricane center keep shifting it more and more to the east the storm has no center which is why it's hard to track right now but we should have a better idea as the day goes along the maybe here and on some other outlets about a complete we can wash out that is not necessarily the case of this is more off the coast we'd be in pretty good shape albeit on the windy side we're gonna be windy and gusty this weekend but how much rain we get depends on the track so we'll be watching it all day for you our peak impacts are expected sometime late Saturday into Sunday Jeanne Wexler news ninety six point five W. DDO PGA any settling with insurance companies over wildfire claims for eleven billion dollars eleven billion dollar deal announced this morning is a compromise between the twenty billion the insurance companies originally demanded and the eight and a half billion P. Jeannie originally offered related to the twenty seventeen to twenty eighteen wildfires and is subject to approval by the bankruptcy court the utilities already settled with local government groups for one billion it still needs to settle individual claims from homeowners and businesses it has proposed creating a trust for those claims capped at eight and a half billion but attorney say that's less than half what wild fire victims are owed and claims related to the twenty seventeen tubs fire are pending a potential jury trial over it's because I'm Joe McConnell. it is twelve nineteen now your news ninety six point five W. D. B. O. it is five daytime it's brought to you by U. S. heating and air conditioning it is our meteorologist resting the grainy it's gonna see some quick downpours race across the area for today no big rainfall totals in any one spot but fast moving showers fifty percent chance a high of eighty eight for tonight gently clearing skies low tomorrow morning in the mid seventies for the weekend weather the disturbance in the Bahamas it's strange then its track will ultimately determine what we see here in central Florida on Saturday and Sunday as of now with a call for breezy conditions both days with a fifty percent chance of tropical downpours highs will be in the upper eighties obviously a stronger closer approach of that storm system will bring us when your weather and more rainfall will continue to monitor will begin to dry out starting on Monday with a forty percent chance of rain then a forty percent chance on Tuesday highs Monday and Tuesday back into the lower nineties with the extended five day forecast for times an hour I'm gentle ninety to roll just rusty bickering right now we're looking at eighty seven and partly cloudy in Apopka eighty seven known mostly sunny Orlando severe weather station that say touch Gerrity triple team traffic which doing over there right now Jack your brine mostly good roads as you make your way on I four for Friday no delays coming from Polk County you're still looking good for the.
"bankruptcy court" Discussed on KLIF 570 AM
"Bank records credit cards debit card. The whole the whole spectrum of data that the IRS has got access to. But at this point in time. Can't simulate before long they will be assimilated into patterns that will aid them in selecting tax returns for audit and drilling deeper into people's lives than ever before every year. I have people on from the fair tax group in every year. They talk about how they'd love us, fair taxes sales tax, and it never happens. Yeah. Well, and it doesn't happen because congress doesn't want a simple tax system. Georgia congressman. Grice wants the IRS to be able to monitor every aspect of your private life. Congress wants a complicated tax system. Because in that way, the IRS can effectively use it strategies, bluffing, intimidation and misinformation and disinformation to get money from people. They don't that's why it's so important for your listeners to know, what their rights are when they're dealing with the IRS, particularly if you've got a tax if you're dealing with some kind of delinquency, and you're facing our tax liens, you need to know how to deal with this stuff because otherwise you get run over in the process. Good point. What is tax court tax court is a is a branch of the federal of the of the federal the federal government for lack of a better word creation by congress a second court creation by congress that here's tax disputes exclusively. It's the it's the it's the tax equivalent of the bankruptcy court, George. Bankruptcy courts are set up strictly to hear bankruptcy. No other kind of a case goes into the bankruptcy court. The tax court is the same way. It's a federal court, which is set up specifically to hear tax cases. And nothing else. Let's go to Kevin in Indianapolis. First time caller. Hi, cavs. Go ahead. Georgia. Okay. My friend. Thank you. Yeah. I was just I'm a truck driver. I'm thirty eight years, and they would let us. Claim expenses every year on our taxes. You know, rappers star was like. Fifteen dollars a day for two hundred fifty days. Came up to you can eat. That last year was the last year for and it used to. It was up there around eighteen hours a day last year they deduct, but you can only way you can do it. Now owner the own your own you can do that. Anyway, before he's like a business. Yeah. What what's your what's your talking about? Kevin is one of the provisions of the jobs act that suspended the what they call the miscellaneous unreimbursed employees business expenses. So people who work for a company as an employee that debt incurred expenses in working for the company that were not reimbursed by the company were able to deduct those on their tax returns the jobs act eliminated that however on balance what what the jobs act also did is it doubled your standard deduction. So for a married filing jointly tax payer went from about twelve thousand dollars a year to twenty four thousand so depending on the facts and circumstances year case it is often. True. We're not not not across the board. But it's often true that the increased standard deduction overcomes, the fact that you're. Lost your demise deductions it's supposed to. But it doesn't it all cases does. That's exactly right. It won't in all cases. That's true. Let's go next to Joel in Miami, Florida. Nope. He's not ready yet. The. Negotiated with the IRS. Can you do that workout plans to pay? Oh, yeah. Absolutely, George, in fact, that's the that's the heart and soul of the book. How to get tax amnesty is how to negotiate settlements with the IRS. And in the book, I talk about the the the negotiation of installment agreements, for example, which is something that the IRS doesn't talk about. But the fact of the matter is if you've got a tax delinquency with the IRS, and they're threatening Levy you can avoid those levees by engaging in an installment agreement negotiation. And in fact, one of the strategies I talk about in the book will enable we'll we'll act as a virtual injunction against the IRS from enforcing levies or Caesar's against any property when you start to engage that negotiation process for an installment agreement it legally shuts them down from enforcement action. I mean, if you admit I owe the tax I just need help pain. It will do they work with you. Yeah. Absolutely. But here's what the problem is George the burden to do. That is on the taxpayer. The IRS is never gonna call you on the phone. Well, we know they're not gonna call you on the phone in any of them. But they're not going to send you a letter says dear tax taxpayer we understand that you're having some trouble, and we're kind and compassionate and agency. And we'd like, you know, we'd like to help you with your problem. So why don't you reach out to us, and what will help you fix? All this. You're not getting that kind of a letter. What's going to happen is if you do nothing the IRS is going to enforce collection with ways, levies, Bank, levies, and tax liens, you have to be the one to reach out. You have to be the one to take affirmative action. You gotta step up. You gotta jump through the hoops. You gotta make the proposals. And if you don't know how to do it. Well, guess what you're just going to be out of luck. Amazing amazing the books, of course, how to get.
"bankruptcy court" Discussed on 760 KFMB Radio
"A five billion dollar plan that still has to be approved by a bankruptcy court judge, but the discount chain Shopco declared bankruptcy, and it'll close a hundred of it's three hundred sixty three. Stores right away. Apple reportedly pulling back on making new hires. That's because of slumping sales of the iphone a little bit of hope and housing applications for new mortgages shot to a nearly one year high last week, thanks to a drop in rates. But the Federal Reserve says the student debt crisis is preventing hundreds of thousands of young Americans from being able to afford a home. All right. Thanks, Tom Busby. Twenty five minutes after the hour. Kevin car is with us now with bad news for people who like to stream their TV entertainment. So what net flicks is getting a little more expensive? Good morning, Michael. Yes, Netflix is raising its prices again, this is making a little bit of news not necessarily because it's such a huge hike because in all reality. It's only a buck or two a month. But it does represent you know, at times, you know, thirteen to fifteen to sixteen percent increase the lowest service, which is just your basic streaming is like going from eight dollars nine dollars. You're you're you're more advanced ones that give you better resolution is going up to. From eleven to thirteen which isn't a huge rise. But it does show that Netflix is trying to offset some expenses that they're they've been having they've been pumping out an awful lot of new content and original content, and that's paid off in a lot of ways with movies like Roma which is winning awards and bird box which made a lot of buzz. But that stuff's not cheap. And there I think right now, we're still in the process of finding out what the market is going to bear for streaming service. Yeah. Well, what I'm thinking is this just gives permission to all the other services to also raise their rates if the industry leader is doing so a lot of this right now because it is an emerging technology, and Netflix is so far beyond just sending DVD's.
"bankruptcy court" Discussed on Bloomberg Radio New York
"It may send it to bankruptcy court PG, and he says Williams will receive a severance package of between two point three six million to four point four six million dollars departures categorized right now PG is down forty nine percent. That's a Bloomberg business flash. I'm Greg Jarrett. You're listening to Bloomberg markets with Lisa Abramowicz impulse weenie on Bloomberg radio. We are in New York City in our cosy Bloomberg interactive brokers studios. David Kula is it a brisk Detroit where it's twenty six degrees and sunny at the auto show, this is feed last North American International auto show, that's going to be held in January. They're kind of upping their game and moving to a warmer month in June. David thank you so much for being with us. David Kuda is founder and chief executive officer of Maine state capital management before we get into what is actually being announced in disgust at the auto show. Can you just set the tone for us how how pessimistic are different automakers given the overall sort of bleak sales picture for for the car industry? Well, there had been a lot of pessimism coming into twenty nine nineteen with the slowing global economy and fears by some of a recession and a possible recession the US in two thousand nineteen or at least a slowing economy and twenty nine thousand nine the auto industry is cyclical as they come. And that's a lot of fears four slowing sales in twenty thousand nine which which we do expect in the US globally. We've already seen that slowing sales China China had there I sales decline in over two decades falling six percent last year. Expect it to slow this year. That's the largest market in the world. And after the four best years for US sales ever from twenty fifteen through twenty eighteen weeks Beck sales to slow here. And then on Friday, of course, Mary Barra job GM came out with some very good expectations for Wall Street. And what they expect in terms of sales and profitability this year. So a very good picture out of GM. So what we heard from a lot of the CEO's they expect a good twenty thousand nine hundred. We'll see so David. Know, the automobile industry is really evolved into a technology industry, essentially taken over the Consumer Electronics Show in Las Vegas every year. What what is really the near term realistic technological innovations that are creating the most buzz there at the auto show this year. Well, it is about electorate is about electrification it is about electric vehicles. And it is about a Thomas, but you know, those still electric vehicles still represent less than one percent of the market globally. And in the US, those are still products yet to come a lot coming over the next few model years, but still yet to come. You know, what what's happening in 'cause we see this Dead Sea CBS. And and we've seen a lot of the introductions IT is playing a bigger a bigger and bigger role in terms of the new introductions in in technology in in automotive. And in terms of what's new vehicles each year design is still it's still a big deal improvements in fuel economy horsepower. Transmission suspension, all those things, but what's happening in terms of IT is becoming a bigger bigger deal and is evolving very rapidly. The cars in the technology. We see today are are leaps and bounds up from just five or seven years ago. So David, I know you're big on Michigan since that's where you live. But. Rightfully so Detroit's auto show is kind of lost some of its relevance mentioning the Consumer Electronics Show in Las Vegas, and that really is kind of taken on a more dominant role in the auto industry. Do you think what is the role for the trae auto show these days? Well, you know, the the heritage from from where it comes from and. It is probably the move to June makes sense from the standpoint of warmer weather being able to actually drive some vehicles along with coming to see them and moving away from CBS, which now kind of steals. It's thunder a week ahead of time. The German automakers except for VW are noticeably absent this year, so it's hopefully that will breathe some new life into the Detroit auto show, the North American International auto show, we hope and will will will help with the resurgence of the show. So David as the automakers continue to ramp up their investment in technology is it too early to maybe gauge who or some winners or losers who's doing a better job than than other system. The majors. It's it's interesting to see the partnerships that are that are coming together Honda with General Motors denounce Louis, expect further announcements of Ford and VW. VW or we've seen that. Really? I think General Motors has been in a leadership role in both autonomous and. We've seen Ford and you don't want to talk about here in the US has has been a little bit behind in that game. In those partnerships that we're seeing because of the cost of move from. I v. And the costs for Thomas significant cost to make that transition from what we call what some people call auto one point zero to two point. Oh, we call it from the legacy business to the future of ability. It's it's a very expensive transformation. So these partnerships. Are going to going to be very important. But that's where we're seeing the center. Jeez. Like that is I think that's going to be most what will be most important David could. Thank you so much for being with us as always David could laze chief executive and chief investment strategist at mainstay capital management with two and a half billion dollars under management coming to us from the North American International auto show in Detroit. It is going to be the last one where it's going to be a brisk twenty five degrees since this is the last one being held in January. It is now going to be moving to June where it's going to be sunny and people can.