3M is nearing a settlement to resolve more than 300,000 claims from U.S. veterans over the company’s combat arms earplugs. The complaints allege the earplugs, which were supplied to the U.S. military, did not adequately protect soldiers from hearing loss. People close to the discussions told The Wall Street Journal that under the terms of…

The Supreme Court put the bankruptcy reorganization of opioid maker Purdue Pharma on hold Thursday, granting an emergency request from the Biden administration that raised objections about a provision that protects the Sackler family from liability for lawsuits.

Overstock.com is now Bed Bath & Beyond. The move is an attempt to revive the now defunct housewares chain and boost Overstock’s popularity.  In June, Overstock acquired Bed Bath & Beyond for $21.5 million, just two months after the company filed for Chapter 11 bankruptcy. All physical stores were scheduled to be closed by the…

Driving down inflation without major job losses is a balancing act the Federal Reserve rarely nails. But hope for a “soft landing” is growing after this past week, as is the hype. History tells us it could be too good to be true. “We were having these same types of discussions in 2000 and again…

Trucking company Yellow Corp., which has been in business for nearly a century, has halted operations on July 30, and will lay off all 30,000 of its workers. According to industry experts, the company is expected to file for bankruptcy as soon as Monday, July 31. It is poised to be the largest trucking bankruptcy…

Cash-strapped U.S. trucking company Yellow has ceased operations and is filing for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday.

FTX filed a lawsuit against founder Sam Bankman-Fried and other former company executives. Other listed defendants include Caroline Ellison, who led Bankman-Fried’s Alameda Research hedge fund; former FTX technology chief Zixiao “Gary” Wang; and former FTX engineering director Nishad Singh. The company is looking to recoup more than $1 billion lost before it filed for Chapter…

In the past three years, companies including Chesapeake Energy, Hertz, VICE Media, and Silicon Valley Bank have all filed for bankruptcy. But that’s not all they have in common. Their top executives either cashed out company stock or received millions of dollars in bonuses soon before their companies filed. And apparently, it’s all legal. Straight…

The architect of Detroit’s bankruptcy filing admits it was a miserable process. But 10 years on, Detroit’s former emergency manager, Kevyn Orr, maintains the restructuring of the Motor City is among his most important accomplishments. On July 18, 2013, Detroit became the largest city in the U.S. to file for bankruptcy.

Thousands of city employees and retirees lost big on July 18, 2013, when a state-appointed manager made Detroit the largest U.S. city to file for bankruptcy. A decade later, the Motor City has risen from the ashes of insolvency, with balanced budgets, revenue increases and millions of dollars socked away. Detroit exited bankruptcy in December 2014 with about $7 billion in debt restructured or wiped out.