Tag: bankruptcy

• Tuesday, September 21st 2021 - 08:55 UTC

  World markets sink on fears of a Chinese version of “Lehman Brothers 2008 bankruptcy”

  

  Asian stocks sank on Monday amid fears of a potential collapse of the beleaguered Chinese real estate company Evergrande could lead to a wave of defaults in China's bloated housing market that could extend from the second-largest economy to the rest of the world. The company must pay this week interests on loans and bonds and experts fear it will not be able to honour creditors.

• Saturday, September 12th 2020 - 10:50 UTC

  US bankruptcy judge rejects Latam Airlines financing proposal

  

  A U.S. bankruptcy judge rejected a US$ 2.4 billion financing plan for struggling LATAM Airlines on the grounds that a convertible loan included as part of the package would amount to “improper” treatment of other shareholders.

• Monday, June 1st 2020 - 07:40 UTC

  Latam Brazil bailout could be delayed until at least July

  

  LATAM Airlines Group's U.S. bankruptcy filing last week will delay its potential bailout in Brazil to at least July and also push back aid to its rivals at least through the end of June.

• Wednesday, May 27th 2020 - 08:19 UTC

  LATAM Airlines files for bankruptcy in US; Brazil and Argentina subsidiaries out of the request

  

  LATAM Airlines Group, the continent's largest carrier, filed for U.S. bankruptcy protection, Chapter 11, on Tuesday, becoming the world's largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic. The filing includes Latam Peru, Chile, Ecuador, and Colombia, but leaves out Latam Brazil, Argentina and Paraguay.

• Saturday, May 23rd 2020 - 09:47 UTC

  Hertz Global files for bankruptcy protection as Covid-19 vanishes business

  

  The more than a century old car rental firm Hertz Global Holdings filed for bankruptcy protection on Friday after its business all but vanished during the coronavirus pandemic and talks with creditors failed to result in needed relief.

• Saturday, May 16th 2020 - 07:44 UTC

  An icon of US retail industry, J.C. Penney filed for bankruptcy protection

  

  J.C. Penney Co Inc filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a possible sale, making it the latest brick-and-mortar retailer to crumble as prolonged store closures in response to the COVID-19 pandemic drive a final stake through long-troubled businesses.

• Thursday, March 19th 2020 - 08:36 UTC

  Most world airlines “will be bankrupt by the end of May”

  

  Sydney-based consultancy CAPA Center for Aviation warned in a statement on Monday that most of the world's airlines will be bankrupt by the end of May. Airline carriers are suspending routes for March, April, and May, and a full grounding of fleets has yet to be ruled out as flight restrictions have been placed across the world, spurring a collapse in demand, due to the Covid-19 pandemic.

• Thursday, August 29th 2019 - 08:05 UTC

  Fashion Forever 21 preparing for potential bankruptcy filing, says Bloomberg

  

  Fashion retailer Forever 21 Inc is preparing for a potential bankruptcy filing, Bloomberg reported on Wednesday, citing people with knowledge of the plans.

• Friday, April 12th 2019 - 17:32 UTC

  A leading Brazilian coffee exporter files for bankruptcy, hoping to restructure a debt of US$ 282 million

  

  Terra Forte, one of the largest Brazilian coffee exporters, has filed for bankruptcy protection in a Sao Paulo state court, lawyers for the company said. Law firm Freire, Assis, Sakamoto e Violante said Terra Forte was looking to restructure 1.1 billion reais (US$ 288.2 million) in debt.

• Thursday, December 27th 2018 - 09:20 UTC

  Brazil opens 100% ownership of Brazilian airlines to foreign investors

  

  Outgoing President Michel Temer issued an executive order that allows foreign groups to own 100% of a Brazilian airline. Previously, non-Brazilians were limited to 20% of shares. The decision occurs in the midst of a bankruptcy proceeding filed by Avianca Brasil.