Bankruptcy
World Athletics deems Grand Slam Track's future plans unconscionable
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Track and field's governing body has criticized the bankrupt Grand Slam Track league for considering funding future events before settling its debts. World Athletics emphasized the need to prioritize payments to athletes and vendors. The league's bankruptcy filings reveal over $40 million in liabilities.
The bankruptcy process of Altos Hornos de México and its subsidiary Minera del Norte is progressing as required by law. The trusteeship timely submitted the guidelines for the asset auction, allowing key stages of the procedure to continue. There is no uncertainty despite a brief leave by the presiding judge.
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The United States' largest magnesium producer, US Magnesium, filed for bankruptcy in September, leaving behind over $100 million in environmental cleanup costs at its Rowley plant near Utah's Great Salt Lake. The facility, a Superfund site since 2009, has a history of releasing toxic waste, including acidic wastewater and hazardous chemicals. State and federal regulators are pushing for liquidation to ensure accountability, amid disputes over ongoing remediation efforts.
Four years after Hurricane Ida devastated southern Louisiana, homeowners like Jennifer and Dean Bye remain in a damaged home, awaiting payouts from a bankrupt insurer. FedNat Insurance Company, which covered the Byes, collapsed amid climate-fueled disasters, highlighting vulnerabilities in the property insurance market. The couple's struggle underscores broader challenges for policyholders in high-risk areas.
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Braathens Regional Airlines has been declared bankrupt, impacting thousands of customers of tour operators Ving and Apollo. Charter flights from several Swedish airports, including Norrköping and Visby, are canceled. Customers are urged to contact their travel companies for compensation and rebooking.