Advisers representing China Evergrande Group and a group of its offshore bondholders have taken what’s often a first step toward negotiations as the embattled developer faces a cash crunch, according to people with knowledge of the matter.

Paper product manufacturer Gorham Paper & Tissue LLC won court approval to solicit creditor votes on its plan to wind down in bankruptcy.

ABC Carpet & Home, the more than a century-old New York luxury home goods retailer, will stay in business after winning court approval to sell itself to a group of investors.

The developer of one of the biggest homes ever built in the U.S. -- featuring a moat and 30-car garage -- filed for bankruptcy to keep lenders from foreclosing on the Los Angeles property.

Puerto Rico’s legislature approved a bill that enables the commonwealth to sell new securities to replace existing bonds and slash its obligations, a critical legislative move that helps the island enter the final stages of its four-year bankruptcy.

When Hui Ka Yan was cruising the world in a private jet, splurging on mansions and jewelry at the peak of China’s Gilded Age, his extravagant lifestyle barely stood out among the country’s burgeoning billionaire set.

Hertz Global Holdings Inc., fresh off a blockbuster order for 100,000 Teslas, reached an exclusive agreement to supply Uber drivers with electric vehicles and signed up Carvana Co. to dispose of rental cars it no longer wants.