Bankruptcy
Iran declares major private bank bankrupt, transfers assets to state-owned Bank Melli
Tehran moves to reassure depositors after Ayandeh Bank collapse, transferring assets to state-owned Bank Melli amid mounting economic pressure and renewed international sanctions.
UK Post Office scandal led to 13 suspected suicides, says report setting out toll
Vice Media files for Chapter 11 to facilitate sale to Soros, consortium
SVB Financial seeks bankruptcy protection for reorganization
Top ex-gov’t bankruptcy official tells Jpost how to save the economy
A combination of government support, encouraging negotiated solutions to financial dead-ends and pushing Israel’s bankruptcy laws closer to the US model may all be needed
National Museum of American Jewish History files for bankruptcy
Despite the bankruptcy protection filing, the museum will continue to operate as normal, and while there will be reorganization, there will not be any layoffs.
Barney’s stores to be sold off in pieces after nearly century in business
Barney Pressman, whose father owned a clothing store, opened his first department store in Manhattan in 1923.
Mideast tourism hit by collapse of British holiday firm, UAE unaffected
Worldwide about 600,000 tourists have been stranded by the collapse.
OxyContin maker Purdue Pharma files for bankruptcy protection
Purdue's board met Sunday evening to approve the long-expected bankruptcy filing, which the company is pursuing to restructure under terms of a proposal to settle the widespread litigation.
UK restaurant sector sees 20% increase in insolvency
A reported 825 restaurants and bars closed down due to lack of finances in 2016 and this number increased to 1,000 in 2017.
Knesset panel advances revolutionary bankruptcy legislation
Bill emphasizes overall economic gains over liquidation and punishing debtors.
The Travel Adviser: When an airline goes bankrupt
When an airline says they’re running out of money or the controlling interest cuts off the pipeline, wise consumers had best be prepared.