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Bankruptcy News Headlines

Madoff settlements reach $12 billion with new accords

The trustee recouping money for Bernard Madoff's victims on Tuesday announced nearly $371 million of new settlements with two groups of offshore funds that invested with the imprisoned Ponzi schemer, boosting the total recovery to about $12 billion.

Puerto Rico oversight board must approve PREPA deal -lawsuit

Insurers of billions of dollars of Puerto Rican bonds have sued the bankrupt U.S. territory’s financial oversight board, saying it should be forced to approve a $9 billion debt restructuring deal at the island's power utility, PREPA. The lawsuit was filed late on Monday by Assured Guaranty Corp and MBIA Inc’s National Public Finance Guarantee, in federal court in San Juan. It is the latest wrangle over a debt workout many had considered a done deal as Puerto Rico battles a cr

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Facing revolt on healthcare bill, Senate Republicans delay vote

WASHINGTON U.S. Senate Republican leaders postponed a vote on a healthcare overhaul on Tuesday after resistance from members of their own party, and President Donald Trump summoned Republican senators to the White House to urge them to break the impasse. | Video