|
FEMA Clamors for Reimbursement PG&E | Telepresence Startup Shuts Down | Southland Secures $70 Million Bankruptcy Loan
|
|
|
|
|
|
Good day. Government first-responder agencies continued to fight for their slice of the pie in PG&E Corp.'s bankruptcy. Suitable Technologies Inc., the startup behind the Beam teleconference robot, filed for bankruptcy after misjudging the demand for its product. And oil-and-gas business Southland Royalty Co. quelled objections to a $70 million bankruptcy loan.
Now for today's news...
|
|
|
PG&E Judge Skeptical of Most Government Wildfire Response Claims
|
|
The judge overseeing PG&E Corp.’s bankruptcy opened the door to reducing government agency claims against the troubled utility to $290 million, a fraction of the billions federal authorities say they are owed. Read More.
|
|
|
Maker of Beam Teleconference Robots Files for Bankruptcy
|
|
Suitable Technologies Inc., the technology company that developed the Beam teleconference robot that broadcasts a user’s face on a fixed monitor, has filed for bankruptcy after the product was slow to catch on. Read More.
|
|
|
Southland Settles Objections to $70 Million Bankruptcy Loan
|
|
A bankruptcy judge gave a green light to Southland Royalty Co. to continue drawing on $70 million in chapter 11 financing that the oil-and-gas business needs to keep operating and to pay its bills. Read More.
|
|
|
|
|
|
FTC Rejects Planned Coal Joint Venture by Peabody, Arch
|
|
U.S. regulators rejected a plan from formerly bankrupt mining companies Peabody Energy Corp. and Arch Coal Inc. to combine their operations in a major coal-production region, saying it would limit competition. Read More.
|
|
|
As Investors Cast Off Coal Stakes, Miners Rely on a Few Big Funds
|
|
Two of the world’s largest funds have begun selling down stakes in coal miners citing environmental concerns, leaving some of the companies’ shares concentrated in the hands of a few large U.S. investors. Read More.
|
|
|
|
Justice Department Appoints Committee of McClatchy Creditors
|
|
The Justice Department's bankruptcy monitor appoints a committee of creditors in the chapter 11 bankruptcy of newspaper publisher McClatchy Co. The official committee of unsecured creditors includes Dow Jones, the U.S. government's pension insurer and a labor union representing about 150 employees at six McClatchy publications. McClatchy filed for chapter 11 protection earlier this month. Dow Jones is a unit of News Corp. which publishes The Wall Street Journal. — Jonathan Randles
|
|
Rayonier Advanced Materials Bonds Plunge
|
|
Rayonier Advanced Materials bonds plunged Wednesday after the chemicals company disclosed an operating loss of $32 million for the quarter ended Dec. 31, compared to operating income of $17 million over the same period the prior year. Rayonier blamed the loss on weak commodity prices and difficulties related to global trade disputes. The company's $496 million in 5.5% senior bonds due 2024 traded at 59.5 cents on the dollar Wednesday, compared to 65.5 the day prior, and the high 70s in late January, according to MarketAxess. — Alexander Gladstone
|
|
|
$3.9 Billion
|
The Federal Emergency Management Agency's
bankruptcy claim against PG&E Corp.
|
|
|
|
San Francisco officials challenged PG&E's bankruptcy plan. (Bloomberg)
Modell’s Sporting Goods is renegotiating leases in attempt to avoid bankruptcy. (New York Post)
Stage Stores cuts staff, closes dozens of stores. (Retail Dive)
Amid bankruptcy, Pier 1 found a new general counsel after the sudden death of its former top lawyer. (Law.com)
Debt among the oldest Americans skyrockets 543% in two decades. (CNBC)
|
|
|
|
|