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Latest News in Bankruptcy

  • May 28, 2020

    Borden Told It Must Tweak Ch. 11 Bonus Pay Plans

    A Delaware judge on Thursday said Borden Dairy Co. needs to show more evidence and adjust performance targets before he will approve up to roughly $4 million in bonuses for 52 employees as part of the milk and dairy supplier's Chapter 11.

  • May 28, 2020

    Feds Say Virus No Basis For Ex-Bumble Bee CEO To Skip Jail

    Prosecutors who secured the price-fixing conviction of former Bumble Bee CEO Chris Lischewski have panned the 59-year-old's assertion that jail time presents a threat to his life during the coronavirus pandemic, arguing he's not in a high-risk category and deserves no special treatment. 

  • May 28, 2020

    CPUC Approves PG&E's $58B Ch. 11 Plan Despite Criticism

    The California Public Utilities Commission on Thursday voted unanimously in favor of Pacific Gas and Electric Co.'s $58 billion bankruptcy reorganization plan after hearing more than 100 public comments from customers against it and three comments in support of it.

  • May 28, 2020

    Alsup Slams 'Criminal' PG&E's 'C-R-A-P-P-Y' Fire Mitigation

    U.S. District Judge William Alsup slammed wildfire mitigation efforts by "recalcitrant criminal" Pacific Gas and Electric Co. on Thursday, saying the bankrupt utility is violating probation by failing to trim enough trees and that, "if ever there was a corporation that deserved to go to prison, it's PG&E."

  • May 28, 2020

    Hertz Wants Currency, Wage Suits Stayed For Bankruptcy

    Hertz Corp. has asked federal courts to press pause on proposed class action suits by customers claiming they were hit by hidden currency conversion fees and by workers claiming they were cheated out of overtime as the company begins Chapter 11 proceedings.

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