Takata Airbag Defect. Takata, the maker of the defective airbags at the center of the world’s largest auto safety recall, filed for Chapter 11 bankruptcy in the United States on June 25, 2017. The defective airbags have been linked to 11 deaths and a number of injuries in the U.S. Takata will sell its surviving operations to a … [Read more...]
Airbag Crisis Drives Takata to Bankruptcy
A Last Resort: Archdiocese Weighs Bankruptcy
Archdiocese Deal With Claims. The Archdiocese of Portland is exploring filing bankruptcy to deal with nearly $600 million in claims by 104 alleged sex-abuse victims, says a Portland attorney who represents the Roman Catholic Church's Western Oregon district. Bankruptcy would be used as a last resort if talks prove fruitless … [Read more...]
Embattled Cardinal Law in Rome
Cardinal Bernard Law Slipped Away To Rome. Cardinal Bernard F. Law quietly slipped away to Rome amid the deepening church abuse scandal, raising speculation that he may be seeking advice on filing for bankruptcy or possibly stepping down. Boston Archdiocese spokeswoman Donna M. Morrissey acknowledged Sunday that Law was at the … [Read more...]
Little Information Released On Law’s Trip to Rome
Cardinal Bernard F. Law's sudden trip to Romegranted Law authority to seek Chapter 11 bankruptcy protection Officials of the Roman Catholic Church declined to explain the reasons for Cardinal Bernard F. Law's sudden trip to Rome this week, but experts on the Vatican predicted that both Law's future and his archdiocese's possible … [Read more...]
Outcry Against Law Grows
Cardinal Law Hurddled With Officials. Cardinal Bernard Law huddled with Vatican officials yesterday to puzzle over the repercussions of bankruptcy, while back home 57 priests inked a call for him to resign and a key attorney suing his archdiocese said settlement was preferable to years of litigation. In a tumultuous day in the … [Read more...]
As Furor Rises In Boston, Law Goes To Meet With Pope
Vatican Pope Is Going To Meet Cardinal Law. Cardinal Bernard F. Law is scheduled to meet with Pope John Paul II on Friday as growing numbers of priests and lay leaders call for Law's removal from the Boston archdiocese, which faces possible bankruptcy and a widening grand jury investigation into child sexual abuse by Catholic … [Read more...]
Able Laboratories, Now a Worthless Company, Will Sell Rather than Attempt a Comeback from Scandal
Able Laboratories declared In deciding to sell the company rather than attempt to obtain refinancing in order to return from bankruptcy, Able’s fall is now almost complete. The decision to sell follows the rejection by federal regulators of Able’s plan to rehabilitate itself and return its products to the market. It seems like … [Read more...]
