Bankruptcy

Cineworld shares plunge on bankruptcy fears

The company, which also owns the Picturehouse chain in the UK, is struggling under $5bn worth of debt.

Like other cinema chains, Cineworld was hit hard by the pandemic.

Cineworld recently said post-Covid customers levels were lower than expected and blamed "limited" film releases.

The Wall Street Journal reported that Cineworld is preparing to file for bankruptcy, sending its share price tumbling.

Cineworld has been contacted for comment.

Becker can't find his trophies

The six-time Grand Slam winner told a London Court he would hand them over "tomorrow" if he had access to them, as a trial into his alleged failure to declare assets continues.

Mr Becker, 54, was declared bankrupt in 2017, with nine trophies and medals among assets he is accused of failing to declare.

He denies 24 charges against him.

The German former world number one told the court he has sold his properties to help fix his financial situation and he owned "lots" of trophies and memorabilia from his career, but some are now missing.

LATAM becomes largest airline so far to be pushed to bankruptcy by COVID-19

The filing highlights the financial weakness of South America's carriers, following a similar bankruptcy earlier this month by the region's second largest airline, Avianca.

But unlike Avianca, which experienced management turmoil and losses, Chile's LATAM posted profits for the last four consecutive years totaling more than US$700 million. LATAM had also approved a dividend payment this year, in contrast to other carriers that have halted payouts.

Colombian airline Avianca files for bankruptcy in US court

The carrier is the second-largest in Latin America, but its passenger operations have been grounded since March because of coronavirus.

It said the pandemic had cut more than 80% of its income, and it was struggling with high fixed costs.

If it fails to come out of bankruptcy, Avianca will be the first major airline to go under amid the pandemic.

USA Rugby files for bankruptcy

In a statement on Monday, USA Rugby said the impact of COVID-19 has accelerated existing financial issues after voting to file for chapter 11 bankruptcy.

USA Rugby suspended sanctioned competition and rugby activities indefinitely on March 20 due to the coronavirus crisis.

The American union will undergo a restructuring process with input from World Rugby, while the United States' men's and women's senior national teams will continue to compete as normal when the sport returns.