Puerto Rico seeks bankruptcy protection to restructure $70 billion debt

May 4, 2017

Puerto Rico seeks bankruptcy protection to restructure $70 billion debt

The governor of Puerto Rico announced Wednesday that the U.S. territory would seek a form of bankruptcy protection to restructure its $70 billion debt, the largest municipal restructuring in U.S. history. By declaring bankruptcy, the territory can prevent any interruption in services to island inhabitants, ...

Moritomo Gakuen applies for bankruptcy protection

Apr 21, 2017

Moritomo Gakuen applies for bankruptcy protection

The troubled Osaka school operator at the center of national political scrutiny applied for protection from creditors on Friday via court-mediated rehabilitation. The links alleged between nationalism-espousing school firm Moritomo Gakuen and Prime Minister Shinzo Abe and his wife, Akie, who promoted it, have been ...

Apr 10, 2017

Bankruptcies fell to 26-year low in fiscal 2016

The number of business failures of Japanese companies with debts of at least ¥10 million fell to a 26-year low in fiscal 2016, according to credit research agency Tokyo Shoko Research. The agency said Monday that the number of corporate bankruptcies over the year to ...