J.C. Penney Co is preparing to file for bankruptcy protection as soon as next week with plans to permanently close about a quarter of its roughly 850 stores,
The global aviation industry has been hammered by the pandemic, as it is directly affected by border closures and population lockdowns.
It is sad that the COVID-19 pandemic has battered the air transport sector, landing it in huge turbulence, grounding planes, resulting in layoffs, bankruptcies and rescue plans.
The Bank of Japan (BOJ) is set to boost funding support for companies, but it will avoid cutting interest rates, sources say, as it could encourage people to step out of their homes to splurge and undermine government efforts to curb the coronavirus outbreak.
India’s Supreme Court (SC) upheld the changes to the Insolvency and Bankruptcy Code (IBC) allowing homebuyers to initiate proceedings against erring real estate developers in case of default on debt repayments
The anger of the people of this island-nation has been simmering for weeks. The people had reason to be angry. The country has run out of fuel, and Prime Minister Ranil Wickremesinghe declared that the country was bankrupt, and it had no money to buy fuel.
Global car rental company Hertz became the latest economic casualty of the coronavirus pandemic on Friday, filing for bankruptcy in the US and Canada after more than a century in business.
The amendments deals with "emergency situations" that impinge on trade or investment, in order to enable individuals and businesses to overcome credit challenges in times of pandemics, natural and environmental disasters, wars, etc.
SVB Financial Group said on Friday it filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets,