Bankruptcy Blogs

Congress begins considering legislation Wednesday that addresses Puerto Rico’s debt crisis. Here’s a look at seven frequently asked questions:

How did Puerto Rico end up with so much debt?

The island’s economy has been in recession since 2006, and Puerto Rico’s government borrowed aggressively to balance its budget. It has around $70 billion in debt, up from $24 billion in 2000. To skirt debt-sustainability requirements, it devised new bond issues with competing security pledges.

Before banks are truly integrated into the digital landscape, they must break down data silos and implement steps to make data more accurate and actionable.

Receiving Wide Coverage ... Devil's in the Details: Goldman Sachs has agreed to a $5.1 billion settlement to end the investigation into its role in the mortgage bubble and financial crisis. The FT says the deal failed to satisfy critics, citing one that called it Â"more of the same non-punishment, non-accountability ritualÂ" and said the bank should publicly disclose its profits and total investor losses from its misconduct. A look at the fine print of theÂ...

On April 7, 2016, Pacific Sunwear of California, Inc. (aka PacSun, aka Pacific Sunwear) filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware.

Through the bankruptcy, Pacific Sunwear is seeking bankruptcy protection in order to get rid of two thirds of its debt and restore its balance sheet, according to CEO Gary Schoenfeld in a statement. Pacific Sunwear is also looking to reduce the cost of running its stores, either by negotiating with landlords or getting out of leases.