|
|
Rivals Spar Over Bankrupt L.A. Hospital | Remington Bankruptcy Threatens Sand Hook Litigation | GOP Bill Would Let Bankrupt Firms Get Covid-19 Relief Loans
|
|
|
|
|
|
|
|
Good morning. Prospect Medical, a hospital operator backed by private-equity firm Leonard Green & Partners, says it would top Prime Healthcare’s $350 million offer for St. Francis Medical Center by $50 million, writes WSJ’s Aisha Al-Muslim. Remington Outdoor Co.’s bankruptcy filing could abruptly end the litigation brought by families of nine victims of the 2012 Sandy Hook school massacre. And the latest GOP coronavirus relief bill would give bankrupt firms access to government loans.
Now for today's news...
|
|
|
|
Rivals Tussle Over Bankrupt Los Angeles Hospital
|
|
|
Prospect Medical Holdings Inc., a hospital manager backed by private-equity firm Leonard Green & Partners LP, is trying to block Prime Healthcare Services Inc.’s $350 million purchase of a Los Angeles-area hospital. Read More.
|
|
|
Remington Bankruptcy Could Endanger Sandy Hook Gun Litigation
|
|
|
Remington Outdoor Co.'s second trip through bankruptcy court in two years could derail a long-running lawsuit filed by the families of victims of the Sandy Hook school shooting.
Read More.
|
|
|
GOP Bill Could Let Bankrupt Firms Get Covid-19 Relief Loans
|
|
|
The latest coronavirus relief package floated by Senate Republicans could allow some troubled businesses access to emergency loans to pay employees even if they have filed for chapter 11 bankruptcy. Read More.
|
|
|
|
|
|
|
|
|
|
|
Men's Wearhouse parent Tailored Brands could file for chapter 11 as soons as next month. PHOTO: RICHARD DREW/ASSOCIATED PRESS
|
|
|
Men’s Wearhouse Parent Warns of Bankruptcy
|
|
|
Tailored Brands Inc. said it is likely to file for chapter 11 bankruptcy protection as soon as the quarter starting Aug. 2, joining brick-and-mortar retailers that have succumbed to the Covid-19 pandemic. Read More.
|
|
Emissions Costs Jump in Europe, Hastening Coal’s Demise
|
|
|
The price of carbon credits in Europe has rebounded from a pandemic low, reflecting government stimulus efforts and the reopening of economic activity. The bounceback is bad news for coal. The rising value of carbon credits means many coal-fired power plants aren’t profitable, even though the price of the fossil fuel has edged down this year. Read More.
|
|
AMC, Universal Agree to Trim Theatrical Window
|
|
|
Movies will play in theaters for much less time before moving to home video under a new agreement between theater chain AMC Entertainment Holdings Inc. and Universal Pictures, upending the way Hollywood has done business for decades. Read More.
|
|
|
|
|
|
Murray Energy founder Robert Murray has settled with creditors over allegations that he treated the coal company as a personal piggy bank. PHOTO: JAE C. HONG/ASSOCIATED PRESS
|
|
|
Robert Murray Settles With Coal Company Creditors Over Pay
|
|
|
Murray Energy Corp. founder Robert Murray has agreed to pay $15.7 million to resolve allegations by company creditors that he was paid excessively and used corporate funds to cover an array of personal expenses in the years before his coal business filed for bankruptcy. Read More.
|
|
|
|
|
|
Kodak is gearing up to produce ingredients for generic drugs. PHOTO: DAVID BECKER/GETTY IMAGES
|
|
|
Kodak Shifts Into Drug Production With $765 Million U.S. Loan
|
|
|
Eastman Kodak Co. has won a $765 million government loan under the Defense Production Act, the first of its kind. The purpose: to help expedite domestic production of drugs that can treat a variety of medical conditions and loosen the U.S. reliance on foreign sources. Read More.
|
|
Walmart, Kroger Shake Up American Dairy Industry
|
|
|
When supermarket shoppers reach for white gallon jugs these days, most of the time they grab a brand bottled by a major grocery retailer. The grocers’ move is threatening Dean Foods Co., which until last year was the largest U.S. milk processor by sales, and Borden Dairy Co., another big producer, were sold this year after filing for bankruptcy in November and January. Read More.
|
|
|
|
|
“Nearly eight years after my sweet little Daniel, along with 6 adult educators and 19 other first graders, were murdered in their classrooms, Remington must not be permitted to use its bankruptcy filing to dodge responsibility.”
|
|
— Mark Barden, whose son, Daniel, was killed in the 2012 Sandy Hook massacre
|
|
|
|
|
|
|
J.C. Penney stock is rising on a report that the private-equity firm Sycamore Partners may be on the verge of acquiring the department store out of bankruptcy, with plans to merge it with troubled peer Belks. (Barron’s)
Sullivan & Cromwell staff layoffs have revealed "moral" struggle facing many firms (AmLaw)
Elliott Management Corp. is claiming PG&E Corp. cost the activist investor $250 million by breaking a promise to help the hedge fund get rights to buy equity in the utility giant during its massive bankruptcy case. (Bloomberg)
Los Angeles’s BH Properties is launching a $200 million fund to capitalize on troubled real estate. (Real Deal)
Hedge-fund investor Kyle Bass acquired a 50% stake in four real-estate companies whose Texas holdings include interests in the Statler Hotel in downtown Dallas. (Bloomberg Law)
Bankruptcy Judge Robert Drain ruled Tuesday that OxyContin maker Purdue Pharma can't make any more contributions to partisan organizations that seek to boost the election efforts of candidates for state attorney general offices. (AP)
A Brazilian judge approved a bankruptcy restructuring plan for Odebrecht, the battered construction conglomerate that was a key fixture of the sprawling corruption probe known as “Operation Car Wash.”
|
|
|
|
|
|
