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On April 26, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a settlement agreement with an online coding school, resolving allegations that the school engaged in deceptive acts and practices in violation of California’s new Consumer Financial Protection Law (CCFPL).
The school offers its students the option to finance their education through a contract in which the student promises to repay the school based on a percentage of the student’s future income. This contract has a provision that states, “this extension of credit is a qualified educational loan and is subject to the limitations on dischargeability in bankruptcy contained in Section 523(a)(8) of the United States Bankruptcy Code.” DFPI alleged that this language is deceptive in violation of the CCFPL because the contract is not a “qualified educational loan” and therefore is not su
Automotores Gildemeister Commences Solicitation of Comprehensive Prepackaged Restructuring Plan with Support of Secured Noteholders
- No Impact Expected for Customers, Vendors, or Employees
- Restructuring is Expected to Leave the Company in a Stronger Position to Continue Serving Customers for Years to Come
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Automotores Gildemeister Chile (
AG or the
Company ) today announced that it has commenced solicitation of its previously announced pre-packaged chapter 11 plan of reorganization (the
Plan ), which seeks to deleverage the Company s balance sheet by approximately $200 million while minimizing any impact on its day-to-day operations. The restructuring under the Plan will create a sustainable capital structure with less debt that will position the company for future success with brighter prospects and a greater ability to serve its customers for years to come.
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Bonanza Creek Energy, Inc. and HighPoint Resources Announce Results of Special Stockholder Meetings
DENVER, March 12, 2021 (GLOBE NEWSWIRE) Bonanza Creek Energy, Inc. (NYSE: BCEI) (the “Company” or “Bonanza Creek”) and HighPoint Resources Corporation (“HighPoint”) (NYSE: HPR) today announced the voting results of the Bonanza Creek and HighPoint special stockholder meetings in connection with the transactions pursuant to the Agreement and Plan of Merger, dated as of November 9, 2020, (the “Merger Agreement”) by and among Bonanza Creek, HighPoint and Boron Merger Sub, Inc. (the “Transaction”).
At the special meeting of Bonanza Creek stockholders held today, 99.8% of the shares of Bonanza Creek common stock voting at the special meeting (approximately 86.8% of the total outstanding shares) were cast in favor of the issuance of Bonanza Creek common stock in connection with the Transaction.