|
Drug Rehab Center Files Amid DOJ Litigation; Brazilian Iron Ore Miner Seeks Bankruptcy Protection in U.S.; Purdue Owners Are Worth $11 Billion
|
|
|
|
|
|
Good day. Connections Community Support Programs, a nonprofit operator of drug and mental health treatment centers, filed for bankruptcy blaming costly litigation with the Justice Department and the loss of a key prison contract. Brazilian iron ore miner Samarco Mineração filed for U.S. bankruptcy protection amid mounting creditor litigation. And documents released by a congressional committee show that members of the Sackler family who own bankrupt OxyContin-maker Purdue Pharma are worth approximately $11 billion.
|
|
|
|
An ambulance arrives at the James T. Vaughn Correctional Center near Smyrna, Del., in February 2017. PHOTO: SUCHAT PEDERSON/ASSOCIATED PRESS
|
|
|
Nonprofit Prison Health Provider Files for Bankruptcy After Government Lawsuit
|
|
Connections Community Support Programs Inc., a nonprofit provider of drug addiction and mental illness treatment, has filed for bankruptcy, blaming costly litigation with the Justice Department and the loss of a key prison contract in Delaware. Read More.
|
|
Brazilian Miner Samarco Files U.S. Bankruptcy After Creditors Sue
|
|
Brazilian iron ore miner Samarco Mineração SA filed for U.S. bankruptcy protection Monday, after initiating similar proceedings in Brazil earlier this month amid mounting creditor litigation. Read More.
|
|
Purdue’s Sackler Family Owners Worth $11 Billion, Documents Show
|
|
Members of the Sackler family who own bankrupt OxyContin-maker Purdue Pharma LP are worth approximately $11 billion, documents released Tuesday by a congressional committee show. Read More.
|
|
|
|
|
Buffet-Style Restaurant Chains Operator Files for Bankruptcy for a Fourth Time
|
|
The owner of Old Country Buffet, Hometown Buffet and several other all-you-can eat restaurant chains has filed for bankruptcy protection, marking the company’s fourth trip through chapter 11 since 2008. San Antonio, Texas-based Buffets Inc., doing business as Ovation Brands, and several of its affiliates, filed for chapter 11 bankruptcy protection Tuesday in the U.S. Bankruptcy Court in Dallas, blaming the uncertainty and unexpected challenges due to the Covid-19 pandemic.
Before the pandemic, the company operated 90 restaurants in 27 states, including under the brands Furr’s Fresh Buffet, Country Buffet, Ryan’s, Fire Mountain, and Tahoe Joe’s Famous Steakhouse. The company went through bankruptcies in 2008 to shed some of its then more than 600 locations, filed again in 2012, and for a third time in 2016. — Aisha Al-Muslim
|
|
|
$11 Billion
|
The approximate worth of members of the Sackler family, according to congressional committee documents.
|
|
|
|
A group of funds vying for control of Hertz sweetened the terms of their offer as a bidding war over the bankrupt rental car giant escalates. (Bloomberg)
Lenders, board of directors approve Future Group’s debt restructuring plan. (CNBCTV18)
|
|
|
|
|