A record 46 companies with at least $US1 billion in assets have filed for Chapter 11 bankruptcy this year, the Financial Times reported, citing BankruptcyData.com. The previous record was 38 billion-dollar businesses during the same period of 2009. JCPenney, Brooks Brothers, and Chesapeake Energy are among the big companies that have filed for bankruptcy this…
Australian national cabinet exploits pandemic for economic restructuring By Mike Head22 August 2020 Despite continuing COVID-19 deaths, especially in Australias chronically-underfunded aged care facilities, yesterdays meeting of the bipartisan ruling national cabinet focused on further reopening the economy for the benefit of corporate profit. The federal, state and territory government leaders paid lip service to…
NORWALK, Conn.–(BUSINESS WIRE)–Frontier Communications Corporation (OTCMKTS: FTRCQ) (Frontier or the Company) today announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the Companys Plan of Reorganization (the Plan), subject to final documentation. Upon emergence, the Company will have reduced its total outstanding indebtedness by more than $10 billion and…
Thousands of travellers who booked holidays before the coronavirus pandemic are now in limbo after student travel agency STA went into administration. Key points: All 27 STA outlets are “closed for the foreseeable future” Customers are being advised to contact airlines, hotel companies and banks about refunds The business employs 180 full-time employees Deloitte joint…
NORWALK, Conn.–(BUSINESS WIRE)–Aug 21, 2020– Frontier Communications Corporation (OTCMKTS: FTRCQ) (Frontier or the Company) today announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the Companys Plan of Reorganization (the Plan), subject to final documentation. Upon emergence, the Company will have reduced its total outstanding indebtedness by more than…