Boris Becker faces possible jail term after guilty verdicts

Agence France Presse 04/29/2022

Former tennis star Boris Becker will learn on Friday whether he faces a lengthy jail term after he was found guilty by a British court of charges relating to his 2017 bankruptcy. The six-time Grand Slam champion,…

Philippine Airlines struggles to survive in pandemic

Miguel Camus 09/05/2021

MANILA, Philippines — Philippine Airlines (PAL) formalized an anticipated creditor protection plea in the United States — a move its owner, billionaire Lucio Tan, called a “major breakthrough” in the 80-year-old carrier’s battle to survive the pandemic.…

PAL eyes bankruptcy filing in NY on June 29

Miguel Camus 06/23/2021

Philippine Airlines’ (PAL) anticipated filing of Chapter 11 creditor protection petition in New York is targeted on June 29, which would mark a milestone in an effort to save the country’s flag carrier from crushing losses inflicted…

Forever 21 bankruptcy reflects teens’ new shopping behavior

10/01/2019

NEW YORK – For years, teens flocked to Forever 21’s massive stores at the nation’s malls for its speedy take on fashion, like its $5 shimmery halter tops and $25 dresses. But the chain that helped popularize…

Cebu Nisico Corp closure leaves 160 jobless

Jhunnex G. Napallacan 08/07/2017

More than 160 employees of Cebu Nisico Corporation, a manufacturer of optical lenses in Mactan Economic Zone 1, lost their jobs after the company closed down. According to Ednie Rapiza, president of CNC Employees Union, the closure…

Takata files for bankruptcy because of airbag recalls

AP 06/26/2017

Japanese airbag maker Takata Corp. filed for bankruptcy protection in Tokyo and the U.S., saying it was the only way to ensure it could carry on supplying replacements for faulty airbag inflators linked to the deaths of…

STATE OF FINANCIAL DISARRAY

Doris C. Bongcac, Jose Santino S. Bunachita 05/20/2016

Just ‘tip of the iceberg:’ Transition team uncovers ‘millions of pesos’ in unaccounted for disbursements Describing Cebu City’s finances as being in “disarray,” the team led by Acting City Mayor Margot Osmeña is now tracking millions of…

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