Religious health nonprofit in the hope of avoiding liquidation; Chinese chipmaker faces bankruptcy threat
July 12, 2021 at 9 a.m.ET
Have a good day. A Christian nonprofit organization that shares medical costs among its members is seeking bankruptcy while facing lawsuits and state investigations. And a Chinese chipmaker that made a $ 23 billion offer for a U.S. rival in 2015 is facing demands from a creditor to file bankruptcy proceedings.
Christian Health Nonprofit Sharity files for bankruptcy after state inquiries
Sharity Ministries Inc., a medical cost-sharing nonprofit for Christians, has filed for bankruptcy in an attempt to continue operating despite accusations by state officials that it cheated on consumers by running a bogus health insurance company.
Chinese chipmaker says creditor files for bankruptcy
Tsinghua Unigroup Co., a key player in China’s semiconductor self-sufficiency campaign, said on Friday that one of its creditors had asked a court to open bankruptcy proceedings for the group.
The Meme Stock Rally injured Melvin and Maplelane. It hasn’t been easier since then.
Hedge funds shaken by the meteoric rise of stocks such as GameStop Corp.
and AMC Entertainment Holdings Inc.
in January are still struggling to extricate themselves from these losses.
In other news
San Francisco real estate firm Hamilton Zanze & Co. will serve as a bidder in Professional Financial Investors Inc.’s bankruptcy auction, with an opening bid of $ 434 million for 60 of the company’s properties. (Bloomberg)
Senate Majority Leader Chuck Schumer said the National Rifle Association may have committed fraud in attempting to file for bankruptcy earlier this year, pointing to the gun group’s heavy advertising spending. (New York Daily News)
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