Insolvency news

Attorney General Peter Neronha recently commented on the significant bankruptcy case involving Prospect Bank. This situation has drawn attention not only from the legal community but also from the public, as it may have widespread implications. Prospect Bank has faced numerous financial challenges over the past few years, which culminated in its filing for bankruptcy […]

Prospect Medical Holdings has filed for Chapter 11 bankruptcy, seeking protection from creditors as it restructures its debts. This move comes amid increasing financial pressures, which have seen the company facing substantial operational challenges. Founded in 1999, Prospect Medical is known for providing healthcare services through various facilities, including hospitals and outpatient centers across the

Crozer Health, a healthcare provider based in Pennsylvania, has faced significant financial challenges leading its owner, Prospect Medical Holdings, to seek bankruptcy protection. This move, announced on Friday, indicates a broader struggle that has plagued the healthcare sector, specifically amidst heightened operational costs and decreasing patient volumes. Prospect Medical, which manages multiple health systems across

The owner of three struggling hospitals in Connecticut has filed for Chapter 11 bankruptcy reorganization. This decision, announced recently, stems from ongoing financial difficulties that have plagued the facilities. The hospitals involved are community-based and have been vital healthcare providers in their respective areas, yet they have faced numerous challenges, including dwindling patient numbers and

Retail businesses across the United States are undergoing a dramatic transformation, as thousands of stores close their doors, leaving communities and employees reeling from the fallout. Major chains are feeling the pinch, and their struggles reflect broader trends affecting the retail sector. Companies such as Bed Bath & Beyond are among those that have announced

Debt relief and credit repair scams are becoming a significant concern, as highlighted by the Better Business Bureau (BBB). Many unsuspecting individuals find themselves targeted by companies that promise to solve their financial issues, but instead, these organizations end up causing more harm than good. The BBB urges consumers to be cautious, particularly when approached

Sunac China Holdings has recently witnessed a significant rise in its share price, following the announcement of crucial backing for its debt restructuring process. This support comes from a majority of the company’s creditors, a move that alleviates some of the severe financial pressures the firm has faced in recent years. Based in Shenzhen, Sunac

The United States Supreme Court is set to review a significant case regarding the Borrower Defense Rule, which offers protection to student loan borrowers against certain predatory practices by colleges. This legal examination has gained attention due to its implications for countless borrowers seeking relief from their student debt. The case originated from the Trump

Stress often lingers long after the holiday season has ended, especially when it comes to finances. As families wrap up their celebrations, many face the reality of credit card bills and unexpected expenses. Experts suggest that creating a budget is a fundamental first step to regain control. By categorizing spending and setting limits, individuals can

New Jersey Governor Phil Murphy’s administration is facing significant challenges in its quest to reduce the state’s debt and improve its financial standing. While Murphy pledged to cut debt during his initial campaign, recent developments suggest that his efforts may be under pressure. The state has made some progress in reducing long-term debt, yet persistent