Tag: bankruptcy
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Purdue makes new offer to settle role in opioid crisis
Washington, March 16 (AFP/APP):US drugmaker Purdue Pharma filed a new bankruptcy plan that would see its founders pay an additional $1.5 billion to settle the company’s role in the devastating opioid crisis. The offer made in a restructuring plan filed late on Monday was rejected by two dozen state attorneys general, who said it falls…
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Troubled UK finance firm Greensill reported as being on the brink of bankruptcy
London, March 6 (AFP/APP): Troubled UK finance firm Greensill is reportedly on the brink of bankruptcy — a development which would send shockwaves through the sector, ensnaring clients and risking up to 50,000 jobs worldwide. Greensill specialises in short-term supply chain financing to provide capital for businesses around the world, but now faces mounting questions over…
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Half of Switzerland’s Restaurants Risk Bankruptcy
Geneva, Jan 10 (AFP/APP): Nearly half of Switzerland’s restaurants and hotels risk bankruptcy within months of failing financial support to weather devastating Covid-19 measures, the sector’s employer group warned Sunday. The Swiss government is expected this week to extend the closure of bars, restaurants and leisure facilities across the country until the end of February…
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Inefficient Power Sector can Bankrupt Pakistan
The inefficient power sector can bankrupt Pakistan.
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Thai Airways files for bankruptcy amid pandemic
Thailand plans to go to bankruptcy court to submit a rehabilitation plan for its national carrier, Thai Airways International, rather than go ahead with a previously planned rescue. A government spokeswoman, Narumon Pinyosinwat, confirmed the bankruptcy filing, saying, “The State-Enterprise Planning Office agreed in principle for the rehabilitation of Thai Airways in court…the procedure will be…