NEW YORK – Barraged by hundreds of sex-abuse lawsuits, the Boy Scouts of America filed for bankruptcy protection Tuesday in hopes of working out a potentially mammoth victim compensation plan that will allow the hallowed, 110-year-old organization to carry on. The Chapter 11 filing in federal bankruptcy court in Wilmington, Delaware, sets in motion what could be one of the biggest, most complex bankruptcies ever seen. Scores of lawyers are seeking settlements on behalf of several thousand men who say they were molested as scouts by scoutmasters or other leaders decades ago but are only now eligible to sue because of recent changes in their states' statute-of-limitations laws. By going to bankruptcy court, the Scouts can put those lawsuits on hold for now. But ultimately they could be forced to sell off some of their vast property holdings, including campgrounds and hiking trails, to raise money for a compensation fund that could surpass a billion dollars.
Electronics retailer RadioShack has filed for bankruptcy for the second time in just over two years. The Fort Worth-based retailer filed its petition in bankruptcy court in Delaware on Wednesday. The company says it's closing about 200 stores and evaluating options on the remaining 1,300. In a statement, RadioShack President and Chief Executive Dene Rogers said that since the company's bankruptcy filing in 2015, the retailer had made progress in stabilizing operations, including reducing operating expenses by 23%. But Rogers said several issues, including a partnership with wireless carrier Sprint that proved not to be as profitable as expected, prompted the latest bankruptcy filing.
Some men might shrink in the shadow of a superstar spouse. On Wednesday, she made history as the first woman of color nominated for vice president by a major political party. After her speech, a beaming Emhoff made his entrance, walking alongside another prominent plus-one -- Jill Biden -- onto a convention hall stage in Wilmington, Del. to join their headline-making partners. Emhoff seemed a little awkward at first, tugging at the hem of his suit jacket. Then he embraced Harris, gave her a quick kiss, and the couple waved to the cameras.
Democratic presidential nominee Joe Biden says the winner of the November election should pick a successor to the late Supreme Court Justice Ruth Bader Ginsburg. Calling Ginsburg a "beloved figure," Biden told reporters in Wilmington, Delaware: "There is no doubt -- let me be clear -- that the voters should pick the president and the president should pick the justice for the Senate to consider." Biden noted that the Republican-led Senate in 2016 refused to consider President Barack Obama's Supreme Court nominee, Merrick Garland, to fill the vacancy created when Justice Antonin Scalia died in February of that year. Biden said that Scalia died about with "almost 10 months to go" before the election and that Senate Majority Leader Mitch McConnell cited it being an election year as the reason a hearing shouldn't take place. President Donald Trump ended up replacing Scalia with Neil Gorsuch.
Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company's business. The Estero, Florida-based company's lenders were unwilling to grant it another extension on its auto lease debt payments past a Friday deadline, triggering the filing in U.S. Bankruptcy Court in Delaware. Hertz and its subsidiaries will continue to operate, according to a release from the company. Hertz's principal international operating regions and franchised locations are not included in the filing, the statement said. By the end of March, Hertz Global Holdings Inc. had racked up more than $24 billion in debt, according to the bankruptcy filing, with only $1 billion of available cash.