Ex-CEO of Ocean Parks Fined $10,000 a Day in Spat With Lenders
A federal judge in Delaware imposed the sanctions on Eduardo Albor, who has been fighting US-based lenders for control of The Dolphin Company, which has theme parks in Latin America, the US and Europe. Judge Laurie Silverstein ordered him to stop interfering in the company's operations and give new management access to bank accounts and other financial records.
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Brazil's Bolsonaro leaves house arrest for court-approved medical exams
Brazil's ex-president Jair Bolsonaro left his home where he is under house arrest Saturday to undergo medical exams, weeks before the Supreme Court rules whether he is guilty of plotting a coup. The right-wing politician is accused of attempting to hold power despite his 2022 electoral defeat by Brazil's current leftist leader, Luiz Inacio Lula da Silva. Bolsonaro, 70, has been under house arrest since early August for violating a judicial ban on using social networks to plead his case to the public. A judge agreed to temporarily lift that measure so he could get medical attention for what Bolsonaro's attorneys said were gastrointestinal problems resulting from a 2018 stabbing attack while he campaigned for president. In particular, their request noted his chronic "reflux and hiccup symptoms" and need to go to hospital for tests, including an intestinal endoscopy. Bolsonaro arrived on Saturday morning at a medical center in the capital Brasilia, where he briefly greeted around 20 supporters waiting for him outside with Brazilian, Israeli and US flags. He did not address journalists who were also gathered. Bolsonaro was permitted by the court to remain in hospital for eight hours before returning to his Brasilia residence. Brazil's Supreme Court will begin deciding on September 2 on the coup charges against Bolsonaro, who led Latin America's largest country from 2019 to 2022. He faces up to 40 years in prison if found guilty. Bolsonaro has maintained his innocence and earned support from US President Donald Trump, who has called the trial a "witch hunt." Citing Bolsonaro's "politically motivated persecution," Trump has signed an executive order slapping 50 percent tariffs on many Brazilian imports. jss/dg/bjt/md
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An iconic mall chain store just filed for bankruptcy
Here's what the move means for your shopping future. Maybe you spent your teen years getting your ears pierced at Claire's or browsing butterfly clips and mood rings with friends at the mall. Or, if you're like me, maybe you took your 11-year-old daughter to get her ears pierced there just last month. Whatever your personal history with Claires, you might want to brace for some sentimental heartbreak. On August 6, Claire's Holdings LLC announced it has filed for Chapter 11 bankruptcy in the U.S., with plans to pursue similar proceedings in Canada under the CCAA. The company, which operates the beloved Claire's and Icing retail chains across North America, said it's initiating the process to "maximize the value of its business" amid growing economic pressures, according to a press release. CEO Chris Cramer cited in the release 'increased competition, consumer spending trends, and the ongoing shift away from brick-and-mortar retail' — along with the company's existing debt — as reasons for the decision. 'This decision is difficult, but a necessary one,' he said. Still, Claire's emphasized that all retail stores and its website will remain open throughout the restructuring. The company will continue to pay employees and work with vendors and landlords as it navigates this next phase, including ongoing conversations with potential strategic and financial partners. This is the second time Claire's has filed for bankruptcy; the first was in 2018. While Claire's hasn't announced store closures yet, the move signals a larger trend affecting legacy mall brands — and leaves loyal fans wondering what the future of this iconic retailer will look like. Solve the daily Crossword
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Kodak Hinges on Pensions to Save It From Renewed Trouble
Welcome to The Brink. I'm Dorothy Ma, a reporter in New York, where I look at Kodak's reliance on its pension plan to save it from another restructuring. We also look at Argentina's failed Treasury auction and have one question with WhiteHawk Capital Partners. Follow this link to subscribe. Send us feedback and tips at debtnews@ Eastman Kodak said earlier this week there were doubts about its ability to operate as a going concern, sending its shares tumbling 20% on Tuesday and triggering flashbacks to its 2012 bankruptcy.
