Two Ohio-Based Nuclear Power Plants Will Receive Bailouts Under Legislators’ New Plan

Ohio legislators revealed Monday their latest plan to save Ohio’s only two nuclear power plants from bankruptcy. As previously reported, FirstEnergy Solutions, a subsidiary of FirstEnergy that manages several power stations across the Midwest, announced that it was closing all three of the nuclear plants it owns and operates throughout the region. Two…

Read More

Judge Approves First-of-Its-Kind Debt Restructuring Deal for Puerto Rico

A federal bankruptcy judge approved a major debt restructuring plan for Puerto Rico on Monday in the first deal of its kind for the U.S. territory since the island’s government declared nearly four years ago that it was unable to repay its public debt. The agreement involves more than $17…

Read More

Sears Staves Off Liquidation, Stores to Remain Open

Sears will live on— at least for now. The company’s chairman and largest shareholder, Eddie Lampert, won a bankruptcy auction for Sears in New York, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The person agreed to speak on condition of anonymity because they…

Read More

Court Approves U.S. Catholic Church’s Proposed $210 Million Payout To Sex Abuse Victims

by Joshua Gill   The Archdiocese of St. Paul and Minneapolis, which filed for bankruptcy in 2015 amid a flood of sexual abuse allegations, will pay $210 million to abuse victims. U.S. Bankruptcy Court Judge Robert Kressel approved the archdiocese’s proposed settlement Wednesday as part of its reorganization plan. The…

Read More