Beleaguered gunmaker Remington points to bankruptcy court
Featured Legal News
Remington, the gunmaker beset by falling sales and lawsuits tied to the Sandy Hook Elementary School massacre, has reached a financing deal that would allow it to continue operating as it files for Chapter 11 bankruptcy protection.
The maker of the Bushmaster AR-15-style rifle used in the Connecticut shooting that left 20 first-graders and six educators dead in 2012, said Monday that the agreement with lenders will reduce its debt by about $700 million and add about $145 million in new capital.
The company will attempt to file a prepackaged reorganization plan with the U.S. Bankruptcy Court of Delaware under Chapter 11 of the bankruptcy code.
Remington Outdoor Co., based in Madison, North Carolina, said that business won't be disrupted as it restructures its finances.
Ohio court to hear online charter school's funding case
The survival of one of the nation's largest virtual charter schools is on the line when the Ohio Supreme Court hears arguments Tuesday in a case that could have broader impact on accountability for other e-schools.
The Electronic Classroom of Tomorrow challenges how Ohio tallied students' participation to determine the online school should repay $60 million or more.
The state says ECOT didn't provide data from students' online work to justify the school's full public funding in recent years.
ECOT argues that state law calls for calculating charter-school funding based on enrollment, not participation, and that Ohio's Department of Education effectively changed the criteria without legal authority.
After the state started recouping funding, the e-school of some 12,000 students was abruptly closed last month as it ran out of money.
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How do you qualify for workers compensation in Illinois?
The Workers’ Compensation Statute protects every employee in the State of Illinois.
A victim of a work-related injury or illness is eligible for many forms of compensation including reasonable medical care required to cure or relieve the impact of the injury, lost time from work, and any temporary or permanent disability.
Illinois Workers’ compensation is a system of benefits that:
– Pays for the medical treatment and medical bills incurred by work-related injuries and illnesses.
– Pays for the lost time from work
– Pays for any temporary or permanent disabilities
– Covers nearly every employee in Illinois
– and begins the very first day that you start working for your employer.
Employers in Illinois are required to purchase workers’ compensation insurance for their employees and the insurance companies fund the payment of worker’s compensation benefits for employees’ claims. In the event of a dispute, the Illinois Workers’ Compensation Commission (IWCC, or the Commission) enforces the state’s worker’s compensation laws and protects worker rights.