Corporate bankruptcy

FILE - This May 8, 2007, file photo shows the Purdue Pharma logo at its offices in Stamford, Conn. It’s not entirely clear what a bankruptcy filing for Purdue Pharma would mean for the wealth of the Sackler family behind the business. Depending on how various legal actions proceed, the billionaire family could be on the hook for much more than outlined in the settlement. (AP Photo/Douglas Healey, File)
September 12, 2019 - 9:05 pm
Purdue Pharma could be heading for bankruptcy but the extent to which it would affect the Sackler family fortunes remains unclear. The company, which makes OxyContin and other drugs, this week reached a tentative agreement with thousands of local governments and more than 20 states over its role in...
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FILE - This May 8, 2007, file photo shows the Purdue Pharma logo at its offices in Stamford, Conn. It’s not entirely clear what a bankruptcy filing for Purdue Pharma would mean for the wealth of the Sackler family behind the business. Depending on how various legal actions proceed, the billionaire family could be on the hook for much more than outlined in the settlement. (AP Photo/Douglas Healey, File)
September 12, 2019 - 3:37 pm
Purdue Pharma could be heading for bankruptcy but the extent to which it would affect the Sackler family fortunes remains unclear. The company, which makes OxyContin and other drugs, this week reached a tentative agreement with thousands of local governments and more than 20 states over its role in...
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FILE - In this Friday, Aug. 17, 2018, file photo, Christine Gagnon of Southington, Conn., protests with other family and friends who have lost loved ones to OxyContin and opioid overdoses at Purdue Pharma LLP headquarters in Stamford, Conn. Gagnon lost her son Michael 13 months earlier. OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation’s deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday, Sept. 7, 2019, in a message to their counterparts across the country. (AP Photo/Jessica Hill, File)
September 08, 2019 - 5:13 am
State and local governments have sought billions of dollars from Purdue Pharma as a way to hold the company and the family that owns it accountable for the nation's opioid epidemic, a potential payout that is now clouded in uncertainty after state attorneys general said settlement talks had broken...
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FILE - In this August 2018 file photo, family and friends who have lost loved ones to OxyContin and opioid overdoses protest outside Purdue Pharma headquarters in Stamford, Conn. OxyContin maker Purdue Pharma made headlines when it reached a landmark settlement with Oklahoma over the toll the opioids crisis has taken on that state. Attempts to do the same in a major federal case in Ohio are proving more difficult. (AP Photo/Jessica Hill, File)
September 07, 2019 - 2:37 pm
CLEVELAND (AP) — OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation's deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday in a message to their counterparts across the country. The breakdown puts the first...
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FILE - In this August 2018 file photo, family and friends who have lost loved ones to OxyContin and opioid overdoses protest outside Purdue Pharma headquarters in Stamford, Conn. OxyContin maker Purdue Pharma made headlines when it reached a landmark settlement with Oklahoma over the toll the opioids crisis has taken on that state. Attempts to do the same in a major federal case in Ohio are proving more difficult. (AP Photo/Jessica Hill, File)
September 07, 2019 - 2:24 pm
CLEVELAND (AP) — Attempts to reach a nationwide settlement over the opioid crisis with OxyContin maker Purdue Pharma have hit an impasse, and the company is expected to file for bankruptcy. State attorneys general for Tennessee and North Carolina have been leading the negotiations. They sent a...
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FILE - This Feb. 19, 2013 file photo shows OxyContin pills arranged for a photo at a pharmacy in Montpelier, Vt. State attorneys general and lawyers representing local governments said Tuesday, Aug. 27, 2019, they are in active negotiations with Purdue Pharma, maker of the prescription painkiller OxyContin, as they attempt to reach a landmark settlement over the nation's opioid crisis. (AP Photo/Toby Talbot, File)
August 28, 2019 - 6:21 am
Associated Press (AP) — Purdue Pharma and the thousands of state and local governments suing the maker of OxyContin over the nation's deadly opioid crisis are negotiating a $10 billion to $12 billion settlement under which the Sackler family would give up ownership of the company, according to...
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August 16, 2019 - 6:03 pm
SAN FRANCISCO (AP) — A judge presiding over Pacific Gas and Electric's bankruptcy case agreed Friday to allow a state jury to decide whether the power company's equipment ignited a devastating wildfire in California wine country nearly two years ago. State fire investigators have already determined...
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FILE - In this June 26, 2018, file photo the General Electric logo appears above a trading post on the floor of the New York Stock Exchange. General Electric’s stock is tanking after a report which claims the company has been misleading investors. Investigator Harry Markopolos accused GE Thursday, Aug. 15, of engaging in accounting fraud worth $38 billion. He said GE is heading for bankruptcy and is hiding $29 billion in long-term care losses. (AP Photo/Richard Drew, File)
August 15, 2019 - 1:17 pm
NEW YORK (AP) — A whistleblower who warned regulators about Bernard Madoff's Ponzi scheme is now accusing General Electric of misleading investors, sending the company's stock on a downward spiral. Investigator Harry Markopolos accused GE on Thursday of engaging in accounting fraud worth $38...
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August 06, 2019 - 3:56 am
NEW YORK (AP) — Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online and real estate costs soar. The luxury clothier is closing in Chicago, Las Vegas and Seattle. Twelve concept and warehouse locations will also close and the company...
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August 05, 2019 - 6:07 am
LONDON (AP) — The Belfast shipyard that built the Titanic is facing administration. Harland and Wolff risks going into bankruptcy after its Norwegian parent company, Dolphin Drilling, failed to find a buyer. The shipyard was famed for constructing the doomed Titanic, which sank on its maiden...
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