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We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Healthcare Equipment & Services

Unigene Laboratories Chapter 7 Petition Filed

Unigene Laboratories filed for Chapter 7 protection with the U.S. Bankruptcy Court in the District of New Jersey, case number 13-24696. The Company, which engages in biopharmaceutical research, production and drug delivery of small proteins referred to as peptides for therapeutic use, is represented by Matthew E. Tashman of Reed Smith. As a result of the bankruptcy filing, a Chapter 7 trustee will be appointed by the Court and will assume control of the Company. All remaining assets of the Company will be liquidated in accordance with the Bankruptcy Code. According to documents filed with the SEC, concurrent with the Chapter 7 filing, the employment of all remaining employees of the Company, including Ashleigh Palmer, president and C.E.O., and Jack Wyszomierski, C.F.O., treasurer and secretary, was terminated. As a result, the Company no longer has any employees. In addition, Richard Levy, Ashleigh Palmer, Thomas J. Sabatino, Jr., Joel A. Tune and Jack Wyszomierski resigned from the board, and the Company has no current board members.  

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Puerto Rico Government Bankruptcy: Uncertainty But Also Investing Opportunity

Because of special tax law provisions that exempt the territory’s debt from not only federal taxes but also state taxes in every state, the bonds are widely held by investors across the country. Since the legal action is under a new law that has never been tested, there is tremendous uncertainty about how much creditors will recover and how long the process will take, but there may be opportunities for stock investors to profit from the island’s restructuring as well--perhaps with less downside risk than in many of the bonds. We found four public companies based in Puerto Rico that could benefit from stabilization in the island’s finances as well as three major insurance companies with exposure to Puerto Rican debt. Read More.

Market-Beating Profit: The 200+ Club

Turnaround stocks present a unique opportunity for savvy investors to buy in at bargain prices. Take a look at this list of just a few of our purchase recommendations that have realized a return rate of 200% or better:

Value Investing Stock Profit

* Bristow remains in our active portfolio (currently as a Hold), and 2,320% gain is as of 4/11/17.

Five Struggling Stocks That Will Turn Around

 

stock market advicex

 

Kiplinger points out that despite the post-election stock market surge, not all stocks have benefited from the uptick: "More than 100 issues in the S&P 500 have fallen in price this year, including dozens that have slumped by more than 10%....Yet these stocks won’t all stay in the dumps forever. Some will mount a comeback in 2017, making it an opportune time to try to identify the best candidates."

 

Quoting George Putnam, Kiplinger details five value opportunities for the new year.

 

Learn more about Putnam's investing success with turnaround stocks.