The oil services company Paragon Offshore Plc filed chapter 11 bankruptcy after the announcement of debt plan. The main reason is to avoid protracted legal battles involving its former parent, Noble Corp.
Tags: Bankruptcy
$2.6-bln buying binge puts SunEdison on brink of collapse
The aggressive buying binge of SunEdison Inc has resulted in a total debt of $12 billion. The US-based clean-energy company may seek bankruptcy protection.
Colorado's Crumbling Coal Mine Industry Urge Residents to Reconsider Marijuana Business
Coal mines in Colorado are shutting down one by one. Most of the folks no longer have jobs and are now looking at the marijuana economic growth that could provide them income. Officials however, are worried about the peacefulness of the place and how the chaos if ever, could be handled by such few authorities.
Supreme Court Dumps Puerto Rico's Seek of Chapter 9 Bankruptcy
Puerto Rico is struggling with a $72 billion debt and is seeking for a Chapter 9 bankruptcy. It is unclear why the said country is excluded and will not be able to take advantage of it to protect it from creditors and restructure its debts. Only Congress can make a bankruptcy law.
Financiers Back Away From Coal Ventures, See No Clear Future
U.S. coal industry is facing tough times as one by one files Chapter 11. Due to high debts, decline in demand and stricter regulations, most have no other choice but to shut down. Lately, Peabody Energy announced that it may go bankrupt.
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The lower oil prices are forcing rig operators to reduce their activity in North Dakota. The number oil rigs operational fell to 49 indicating the lowest since August 2009. The number of oil rigs is expected to further drop to 30 this year. There're concerns over possible bankruptcies following the decline in oil drilling North Dakota.
Investors sue KaloBios Pharmaceuticals Inc. to return $5.4 million of their investment. The investors were brought in by Martin Shkreli. KaloBios Pharmaceuticals Inc. filed for bankruptcy in late December.
American Apparel company forecasts robust demand after the bankruptcy turnaround. The US-based fashion chain is predicting more profitable years to come. American Apparel is known for its controversial sexual advertisements.
"Good guys finish last" is a common saying, but is not necessarily true when it comes to handling business, or so as others would like to believe. To some, a firm hand and a cold resolve would make for a fine CEO, whether that CEO is a man or a woman. However, kindness is beneficial to the businesses' customers and employees.
Bankruptcy has been a part of every business even an individual's life and most of the time is hard to avoid. Generally, seeking the help of a bankruptcy lawyer as one declares bankruptcy would definitely ease the burden.
The U.S. coal industry is hit by another major blow as Alpha Natural Resources Inc. will file for Chapter 11 bankruptcy court protection on Monday.
Oil field work was coming in fast when GoFrac doubled its workforce and equipment fleet at the beginning of last year, just one of hundreds of small oil service companies thriving on the revival of U.S. drilling.
The state of the U.S. labor market in March will consume economists and investors in the week leading up to Easter, adding to the seesaw debate over when the Federal Reserve will spring its first interest rate hike.
A turnaround team tasked with reviving Atlantic City says New Jersey's struggling gambling hub must consider cost cuts, layoffs and longer bond maturities, but bankruptcy is not in the cards - yet.
