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Home > Bankruptcy News

Bankruptcy News Nov 2008

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O’Donnell’s Accentia files bankruptcy
Accentia Biopharmaceuticals Inc. has filed for bankruptcy, but chief executive Frank O’Donnell might have a source for additional financing — a private equity group he founded. (Mon, 17 Nov 2008 13:10:51 GMT)

Educare files for bankruptcy
Educare Inc., a St. Louis-based company that operates three child care centers, has filed for bankruptcy protection from creditors it owes more than $1 million. (Mon, 17 Nov 2008 13:46:37 GMT)

Getrag's U.S. Unit Files Bankruptcy After Lawsuit by Chrysler
Nov. 17 (Bloomberg) -- Getrag Group's U.S. unit filed for bankruptcy protection, citing a lawsuit filed by Chrysler LLC last month in a dispute over an unfinished transmission plant. (Mon, 17 Nov 2008 14:17:51 GMT)

Mall’s owners may face bankruptcy
General Growth Properties Inc., owners of the Eagle Ridge Mall in Lake Wales, saw its stock plummet this week after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month. (Mon, 17 Nov 2008 15:29:21 GMT)

Getrag unit files for bankruptcy protection
(AP:STERLING HEIGHTS, Mich.) Getrag Transmission Manufacturing says it filed for Chapter 11 bankruptcy protection for its Tipton, Ind., facility. The facility was being built for the sole purpose of making dual clutch transmissions for Chrysler LLC. (Mon, 17 Nov 2008 16:04:19 GMT)

Getrag unit files for bankruptcy protection
Getrag Transmission Manufacturing LLC said Monday it filed for Chapter 11 bankruptcy protection for its Tipton, Ind., facility after Chrysler LLC pulled out of a financing options agreement and left the plant without a primary customer. (Mon, 17 Nov 2008 16:17:04 GMT)

Getrag unit files for bankruptcy protection
Associated Press - November 17, 2008 11:03 AM ET STERLING HEIGHTS, Mich. (AP) - Getrag Transmission Manufacturing says it filed for Chapter 11 bankruptcy protection for its Tipton, Ind.,... (Mon, 17 Nov 2008 16:17:22 GMT)

Getrag U.S. Unit Files Bankruptcy After Chrysler Suit (Update2)
Nov. 17 (Bloomberg) -- Getrag Group's U.S. auto-parts unit filed for bankruptcy, citing a lawsuit filed by Chrysler LLC last month in a dispute over an unfinished transmission plant. (Mon, 17 Nov 2008 16:33:10 GMT)

Sen. Durbin to seek mortgage bankruptcy change
A senior U.S. senator on Monday introduced legislation to let judges alter the terms of distressed mortgages in bankruptcy cases, reviving a controversial proposal meant to help troubled homeowners, a said an aide to the lawmaker. (Mon, 17 Nov 2008 22:29:22 GMT)

Bankruptcy or Bailout for Automakers?
Washington confronts a choice: bailout or bankruptcy for car companies. (Mon, 17 Nov 2008 23:53:03 GMT)

Getrag unit seeks bankruptcy protection
A unit of Getrag Group has filed for bankruptcy protection, blaming Chrysler's cancellation of contractual agreements related to the unfinished transmission plant in Tipton. (Tue, 18 Nov 2008 07:11:04 GMT)

MacGregor Development seeks bankruptcy protection
MacGregor Development, the company behind Cary neighborhoods such as MacGregor Downs and Lochmere, is seeking bankruptcy protection. (Tue, 18 Nov 2008 07:34:30 GMT)

Bankruptcy cases surge
Bankruptcy filings in New Jersey increased 6 percent in October as the economic downturn battered the finances of consumers and businesses, figures released Monday show. (Tue, 18 Nov 2008 12:17:26 GMT)

Masonite May Face Bankruptcy Unless Lenders Grant Loan Reprieve
Nov. 18 (Bloomberg) -- Masonite International Corp. , taken over by Kohlberg, Kravis, Roberts & Co. three years ago, may file for bankruptcy unless the company's lenders agree to ease the terms of its bank loans, people familiar with the matter said. (Tue, 18 Nov 2008 12:42:31 GMT)

Mall’s owners may face bankruptcy
General Growth Properties Inc., owners of the Eagle Ridge Mall in Lake Wales, saw its stock plummet this week after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month. (Tue, 18 Nov 2008 13:44:22 GMT)

Aguirre To Ask City To Consider Bankruptcy
SAN DIEGO -- Lame duck City Attorney Michael Aguirre will ask the City Council during a closed-door hearing Tuesday to consider hiring legal counsel to explore taking San Diego into bankruptcy. (Tue, 18 Nov 2008 14:12:29 GMT)

Deadbeat Homeowners Tap Texas Bankruptcy Laws to Duck Creditors
Nov. 18 (Bloomberg) -- Homeowners fleeing underwater mortgages in California and Florida know where to come up for air: Texas. ``Texas is an extremely friendly place to live if you owe money and do not want to pay,'' said Marjorie Britt, a bankruptcy attorney with Britt & Catrett PC in Houston. (Tue, 18 Nov 2008 15:47:28 GMT)

MPC files for bankruptcy
IT LOOKS LIKE MPC , formerly Micron, formerly a glint in the eye of a potato farmer, formally a dirt patch, is going into bankruptcy. (Tue, 18 Nov 2008 16:22:50 GMT)

Bankruptcy sale of Boscov's chain nears completion
The bankruptcy sale of regional department store chain Boscov's to two former executives moved a step closer to fruition following a court hearing on Tuesday (Tue, 18 Nov 2008 23:54:58 GMT)

Advantage of corporate bankruptcy is dwindling in U.S.
More U.S. companies that file for bankruptcy protection are shutting down because they cannot obtain enough financing to operate while they reorganize. (Wed, 19 Nov 2008 01:41:41 GMT)

Advantage of Corporate Bankruptcy Is Dwindling
More companies that file for bankruptcy protection are shutting down because they cannot obtain enough financing to operate while they reorganize. (Wed, 19 Nov 2008 03:36:28 GMT)

What about bankruptcy option?
To hear the chief executive officers of Detroit automakers and union leaders tell it, bankruptcy and economic hellfire await if lawmakers don't craft a government bailout for them soon. Probably not, according to legal and economic experts who warn that what's ailing Detroit isn't fixable with $25 billion. (Wed, 19 Nov 2008 10:14:36 GMT)

Advantage of Corporate Bankruptcy Is Dwindling
Harsh as it is, a bankruptcy filing has always offered a glimmer of hope for a business hobbled by debt or a downturn. A company could slim down, negotiate manageable payments to workers and suppliers and keep going, preserving jobs. (Wed, 19 Nov 2008 12:07:43 GMT)

Ill. farmer's wife admits to bankruptcy fraud plot
A southern Illinois farmer's wife pleaded guilty Tuesday to plotting federal bankruptcy fraud and agreed to cooperate with authorities in a case connected to the unsolved slayings of a potential witness and his wife. (Wed, 19 Nov 2008 13:49:04 GMT)

Seven famous people who survived bankruptcy
As the economy continues to look grim, the word "bankruptcy" is on the tips of more and more tongues. While being unable to pay one's creditors is never a good situation for a company or an individual, it may not be the financial kiss of death that you might think. (Just ask Donald Trump, whose casinos have gone bankrupt twice.) (Wed, 19 Nov 2008 15:03:36 GMT)

NetVersant, Texas Networks Builder, Files Bankruptcy (Update1)
Nov. 19 (Bloomberg) -- NetVersant Solutions Inc. , a Texas- based builder of communications networks, filed for bankruptcy protection, blaming a liquidity crisis caused by unprofitable projects in Southern California and Phoenix. (Wed, 19 Nov 2008 15:32:22 GMT)

Colorado casino seeks bankruptcy protection
The Imperial Casino Hotel in Cripple Creek, Colo., has filed for Chapter 11 bankruptcy protection. The petition was filed Monday in U.S. Bankruptcy Court in Denver. (Wed, 19 Nov 2008 16:02:10 GMT)

Chrysler Considered, Abandoned, Bankruptcy Before Seeking Aid
Nov. 19 (Bloomberg) -- Chrysler LLC Chief Executive Officer Robert Nardelli said his company studied a prearranged bankruptcy before dismissing the idea as unworkable and approaching the U.S. government for money to survive. (Wed, 19 Nov 2008 16:41:06 GMT)

Want a federal bailout? Why not bankruptcy, too?
What's so bad about bankruptcy as an alternative to big bailouts for automakers or other critical U.S. companies? Frozen credit and the hardships of a Chapter 11 reorganization make it a tough pill to swallow for struggling industries and their workers. (Thu, 20 Nov 2008 00:40:29 GMT)

General Growth takes on bankruptcy counsel: report
General Growth Properties Inc has hired law firm Sidley Austin as bankruptcy counsel as it negotiates with lenders for more time to restructure its $27 billion debt, the Wall Street Journal said on Wednesday. (Thu, 20 Nov 2008 03:50:44 GMT)

The case for Chapt. 11 bankruptcy for carmakers
Auto executives have painted a dire picture for their companies and the economy if they are denied $25 billion in federal loans and forced into bankruptcy. Yet many legal experts say that Chapter 11 bankruptcy, which lets a company restructure its operations... (Thu, 20 Nov 2008 08:38:28 GMT)

Bailout with a price: Chapter 11 bankruptcy
WASHINGTON -- Mention a corporate bailout in the nation's capital these days and chances are someone will offer a harsh condition to go along with it. Chapter 11 bankruptcy. (Thu, 20 Nov 2008 10:45:11 GMT)

General Growth Taps Bankruptcy Counsel, Report Says
General Growth Properties , the shopping mall giant, has hired law firm Sidley Austin as bankruptcy counsel as it negotiates with lenders for more time to restructure its $27 billion debt, The Wall Street Journal reported. (Thu, 20 Nov 2008 11:23:33 GMT)

General Growth taps bankruptcy law firm: report
Troubled mall developer General Growth Properties Inc. has hired a law firm as bankruptcy counsel as it tries to restructure its debt and avoid a bankruptcy filing, according to a published report Thursday. (Thu, 20 Nov 2008 14:18:55 GMT)

General Growth hires Sidley Austin as bankruptcy adviser
Debt-laden mall giant General Growth Properties Inc. has hired the law firm Sidley Austin as bankruptcy counsel while it negotiates with lenders for more time to restructure its $27 billion debt load. (Thu, 20 Nov 2008 14:34:11 GMT)

General Growth sinks on bankruptcy concerns
Shares of troubled mall owner General Growth Properties Inc. fell Thursday after The Wall Street Journal reported the company has hired bankruptcy attorneys as it struggles to refinance debt. (Thu, 20 Nov 2008 14:59:32 GMT)

Pa. gov promises bankruptcy exit help for Boscov's
Gov. Ed Rendell says the state has secured $35 million in federal loans to help regional department store chain Boscov's exit bankruptcy. (Thu, 20 Nov 2008 16:46:44 GMT)

General Growth hires bankruptcy counsel
General Growth Properties Inc said it has hired law firm Sidley Austin as bankruptcy counsel as it negotiates with lenders for more time to restructure its $27 billion debt. (Thu, 20 Nov 2008 22:16:00 GMT)

Poncin Yachts Gets Two-Month Extension of Bankruptcy Protection
Nov. 21 (Bloomberg) -- Poncin Yachts , the French maker of Harmony sailboats, said it was granted an extension of its bankruptcy protection for at least two months. (Fri, 21 Nov 2008 08:47:59 GMT)

Obama Transition Said to Consider a ‘Prepack’ Auto Bankruptcy
Nov. 21 (Bloomberg) -- President-Elect Barack Obama’s transition team is exploring a swift, prepackaged bankruptcy for automakers as a possible solution to the industry’s financial crisis, according to a person familiar with the matter. (Fri, 21 Nov 2008 11:26:04 GMT)

Obama team mulls "prepack" auto bankruptcy: report
The transition team of President-elect Barack Obama is considering a swift prepackaged bankruptcy for automakers as an answer to the financial woes of the sector, reported Bloomberg News on Friday, citing a person familiar with the matter. (Fri, 21 Nov 2008 13:03:48 GMT)

Anixter to book expense over NetVersant bankruptcy
Anixter International Inc. said Friday it plans to record an expense of about $20 million to $22 million to boost its reserve for doubtful accounts due to the bankruptcy of a customer, NetVersant Solutions Inc. (Fri, 21 Nov 2008 13:17:51 GMT)

Obama Team Said to Explore `Prepack' Auto Bankruptcy
Nov. 21 (Bloomberg) -- President-Elect Barack Obama`s transition team is exploring a swift, prepackaged bankruptcy for automakers as a possible solution to the industry's financial crisis, according to a person familiar with the matter. (Fri, 21 Nov 2008 15:01:46 GMT)

How Would GM Bankruptcy Affect You?
What would a General Motors bankruptcy mean for car owners? Here are some possible answers. (Fri, 21 Nov 2008 16:38:21 GMT)

Pelosi Says She Rejects Bankruptcy as Next Step for Automakers
Nov. 21 (Bloomberg) -- House Speaker Nancy Pelosi said she opposes bankruptcy as a useful move for domestic automakers, saying it would be “digging a hole far too deep.” (Fri, 21 Nov 2008 16:47:04 GMT)

Pelosi Says She Rejects Bankruptcy for Automakers (Update1)
Nov. 21 (Bloomberg) -- House Speaker Nancy Pelosi rejected bankruptcy as a solution for domestic automakers, saying it would be “digging a hole far too deep.” (Fri, 21 Nov 2008 16:55:40 GMT)

Buffett says automakers need bailout or bankruptcy
Billionaire investor Warren Buffett says U.S. automakers need a new business model to better compete, whether it takes bankruptcy or a government bailout to achieve. (Fri, 21 Nov 2008 16:56:31 GMT)

Obama Team Said to Explore `Prepack' Auto Bankruptcy
Nov. 21 (Bloomberg) -- President-Elect Barack Obama's transition team is exploring a swift, prepackaged bankruptcy for automakers as a possible solution to the industry's financial crisis, according to a person familiar with the matter. (Fri, 21 Nov 2008 21:27:29 GMT)

General Motors board weighs bankruptcy option: report
The board of directors of embattled U.S. automaker General Motors Corp is considering "all options" including bankruptcy, according to a report on the Wall Street Journal's website late on Friday. (Sat, 22 Nov 2008 05:02:16 GMT)

Federal bankruptcy judge OKs Boscov's sale
WILMINGTON - A federal bankruptcy judge approved the sale of the Boscov's department store chain yesterday to Albert R. Boscov in a $305 million deal that is expected to result in the ouster of Boscov's nephew, Ken Lakin, as chief executive. (Sat, 22 Nov 2008 08:46:25 GMT)

O TEAM DRIVING THEM TO 'BANKRUPTCY'
Barack Obama's transition team is exploring a fast-track bankruptcy for the Big Three US automakers, sources say. The team is looking into a prepackaged bankruptcy, in which each of the giant carmakers would get the approval of its creditors and... (Sat, 22 Nov 2008 10:20:58 GMT)

Report: Bankruptcy an option for GM board
General Motors Corp.'s board of directors is willing to consider filing for bankruptcy protection, Reuters reports on its Web site, citing the Wall Street Journal. (Sat, 22 Nov 2008 12:44:33 GMT)

GM could file for bankruptcy soon
It's highly likely General Motors will be forced to declare bankruptcy before the U.S. and Canadian governments reach a decision on a bailout package, a move which could put thousands of Canadian GM employees out of work, plus thousands more in spinoff industries, analysts say. (Sat, 22 Nov 2008 15:22:36 GMT)

DayJet Ceases ‘On-Demand’ Flights, Seeks Bankruptcy Protection
Nov. 22 (Bloomberg) -- DayJet Corp. , saying it couldn’t obtain additional financing, sought bankruptcy protection from creditors after ceasing operation of its “on-demand” airline service connecting secondary markets. (Sat, 22 Nov 2008 16:07:57 GMT)

GM board reportedly won't rule out bankruptcy
Members of the board of directors at General Motors Corp. may be at odds with the ailing automaker's top executive in their willingness to consider all options, even bankruptcy, according to a published report. (Sat, 22 Nov 2008 16:18:35 GMT)

Bankruptcy filing an option with GM board: report
Members of General Motors' board of directors are willing to consider "all options" for the auto maker, including bankruptcy filing, a stance that differs from that of Chairman and Chief Executive Rick Wagoner, a media report said quoting people familiar with the matter. (Sat, 22 Nov 2008 16:59:12 GMT)

GM says board doesn't see bankruptcy as option
General Motors Corp.'s board of directors does not consider bankruptcy protection a viable option to solve the company's financial troubles, but it has discussed Chapter 11 because it has a legal duty to do so, a spokesman said Saturday. (Sat, 22 Nov 2008 22:33:19 GMT)

Credit crunch: Bankruptcy applications rise 7% in third quarter
The number of people applying for bankruptcy increased by 7% during the third quarter of the year, figures showed today, offering further evidence of the impact of the financial downturn on consumers. A total of 13,653 people in England and Wales petitioned for bankruptcy in the three months to the end of September, 7% more than during the same period of 2007 and 1% more than during the ... (Sun, 23 Nov 2008 02:03:44 GMT)

Bankruptcy filings jump as economy struggles
Bankruptcy filings in Massachusetts have surpassed last year's figures as foreclosures and plummeting home values force more residents into financial ruin. Through... (Sun, 23 Nov 2008 05:10:14 GMT)

GM board reviews bankruptcy scenario, but company says option not viable
The board at General Motors Corp. has reviewed the possibility of bankruptcy, even as the cash-strapped automaker pursues congressional aid to help it survive the global credit crisis and the worst automotive sales environment in 25 years. (Sun, 23 Nov 2008 08:30:55 GMT)

GM: Bankruptcy not an option
General Motors Corp.'s board of directors does not consider bankruptcy protection a viable option to solve the company's financial troubles, but it has discussed Chapter 11 because it has a legal duty to do so, a spokesman said Saturday. Century-old GM, an icon of American manufacturing, has been battered by a plunge in car sales as American consumers tighten their belts and shift away from the ... (Sun, 23 Nov 2008 10:03:34 GMT)

GM board considers bankruptcy
The board of directors of embattled U.S. automaker General Motors Corp is considering "all options" including bankruptcy, according to a report on the Wall Street Journal's website. (Sun, 23 Nov 2008 10:36:23 GMT)

School Superintendent, Husband File For Bankruptcy
ATLANTA (AP) -- Only months after winning and giving away $1 million on a television program, state Schools Superintendent Kathy Cox and her husband, John, have filed for bankruptcy. (Sun, 23 Nov 2008 13:47:55 GMT)

Bridgewater Commons mall owner may file for bankruptcy
The nation's second-largest owner of shopping centers, which runs the Bridgewater Commons and Woodbridge malls, may file for bankruptcy, according to a report in Gannett. The company, General Growth Properties, has about $1 billion of debt due Dec. 1 and... (Sun, 23 Nov 2008 14:51:59 GMT)

Georgia: School superintendent, husband file for bankruptcy
Only months after winning and giving away $1 million on a television program, state Schools Superintendent Kathy Cox and her husband have filed for bankruptcy. (Sun, 23 Nov 2008 15:14:44 GMT)

Bankruptcy filing an option with GM board, says report
Members of General Motors’ board of directors are willing to consider “all options” for the auto maker, including bankruptcy filing, a stance that differs from that of Chairman and Chief Executive Rick Wagoner, a media report said quoting people familiar with the matter. (Sun, 23 Nov 2008 16:47:45 GMT)

Ga. school superintendent files for bankruptcy
Only months after winning and giving away $1 million on a television game show, state Schools Superintendent Kathy Cox and her husband have filed for bankruptcy. (Sun, 23 Nov 2008 17:04:15 GMT)

Consumers cautious about effect of auto bankruptcy
Cash-strapped General Motors insists declaring bankruptcy would be disastrous because it would scare away customers. It's unlikely Chevrolet and Cadillac owners would be left with worthless warranties and no replacement parts, but the headlines about the Detroit Three's dire situation may already be keeping buyers away. (Sun, 23 Nov 2008 21:54:28 GMT)

Washington bankruptcy filings rise 40%
For the first 10 months of 2008, more than 18,000 bankruptcy cases were filed as families are squeezed by a credit crisis, layoffs and a declining housing market — a 40 percent increase from the previous year. (Mon, 24 Nov 2008 08:30:44 GMT)

Nigeria: Bankruptcy Leaves Indigenous Sickle Cell Treatment in Jeopardy
A pioneering attempt to commercialise an indigenous treatment for sickle cell anaemia is in serious trouble after the US-based company owning the rights to its development filed for bankruptcy. (Mon, 24 Nov 2008 11:41:34 GMT)

Lenox Group files for bankruptcy protection
Lenox Group Inc., which makes dinnerware, gifts and collectibles, said Monday it filed for Chapter 11 bankruptcy protection, the latest company to succumb to the weak retail environment. (Mon, 24 Nov 2008 12:21:08 GMT)

Lenox, Fine China Maker, Files for Bankruptcy Protection
Nov. 24 (Bloomberg) -- Lenox Sales Inc. , a manufacturer of fine china and gifts, filed for bankruptcy protection from creditors, citing declining revenue as a result of the deteriorating U.S. economy. (Mon, 24 Nov 2008 14:17:25 GMT)

Lenox, Fine China Maker, Files Chapter 11 Bankruptcy (Update1)
Nov. 24 (Bloomberg) -- Lenox Sales Inc. , the maker of fine china and gifts based in Bristol, Pennsylvania, filed for bankruptcy protection from creditors, blaming declining revenue as a result of the deteriorating U.S. economy. (Mon, 24 Nov 2008 15:19:05 GMT)

GM board says bankruptcy not an option
General Motors Corp.'s board of directors does not consider bankruptcy protection a viable option to solve the company's financial troubles, but it has discussed Chapter 11 because it has a legal duty to do so, a spokesman said Saturday. (Mon, 24 Nov 2008 16:30:18 GMT)

Big 3's bankruptcy fear may have merit
Cash- strapped General Motors insists declaring bankruptcy would be disastrous because it would scare away customers. (Mon, 24 Nov 2008 16:41:11 GMT)

Vineyards Resort seeks bankruptcy protection
Unable to obtain financing for the $100 million, 500-acre Vineyards Resort because of the nation's economic woes, developers have filed for bankruptcy protection but insist that the project remains viable. (Mon, 24 Nov 2008 16:47:07 GMT)

Polish oil refiner Lotos denies bankruptcy risk
Polish oil refiner Lotos denied Monday it is facing bankruptcy as it sought to calm investors unnerved by a Unicredit analyst report which said the company is likely to collapse. (Mon, 24 Nov 2008 18:06:05 GMT)

Iowa wants meatpacker bankruptcy case heard there
The Chapter 11 bankruptcy case for a kosher meatpacking company accused of immigration and child-labor violations at its Iowa plant should be heard in that state, not New York, Iowa's labor commissioner said Monday. (Tue, 25 Nov 2008 00:42:04 GMT)

Big 3 tamp down bankruptcy talk
The chief executives may not have achieved much in Washington last week -- but they did manage to persuade some key politicians that growing calls for bankruptcy as a solution for the struggling industry might instead spell its doom. (Tue, 25 Nov 2008 06:17:26 GMT)

Loan modification in bankruptcy
After declaring bankruptcy, persistence is required in contacting the lender to modify your mortgage, says the Bankruptcy Adviser. (Tue, 25 Nov 2008 11:00:00 GMT)

Hernando Oaks developer seeks bankruptcy protection
Hernando Oaks Golf & Country Club filed for Chapter 11 bankruptcy protection, a day before property at the development was scheduled to be sold at a courthouse auction. (Tue, 25 Nov 2008 13:36:08 GMT)

Franchisee Of 146 Waffle Houses Files For Bankruptcy
The days may be numbered for "scattered, covered and smothered" hash browns at Waffle House. The iconic roadside grill's biggest franchisee has filed for bankruptcy protection. The action escaped attention locally, but a company called Northlake Foods Inc. of Brandon, which operates 146 Waffle Houses in Florida, Georgia and Virginia, filed for Chapter 11 bankruptcy protection in mid-September. ... (Tue, 25 Nov 2008 14:20:33 GMT)

Ernie Haire Ford Of Tampa Files For Chapter 11 Bankruptcy
TAMPA Ernie Haire Ford Inc. of Tampa has filed for bankruptcy protection, boosting to at least five the number of local auto dealerships to falter in the troubled economy. On Monday, Ernie Haire filed for Chapter 11 bankruptcy, which will allow it to continue operating and to reorganize its finances while protected from its creditors. (Tue, 25 Nov 2008 15:10:28 GMT)

GM May Need U.S.-Backed Bankruptcy After Expense Cuts (Update1)
Nov. 25 (Bloomberg) -- General Motors Corp. , seeking U.S. aid to survive, must significantly cut debt and labor costs and may still need a government-backed bankruptcy to remain viable, Merrill Lynch & Co. and JPMorgan Chase & Co. analysts said. (Tue, 25 Nov 2008 15:21:57 GMT)

Eclipse Aviation files for bankruptcy protection
ALBUQUERQUE, N.M. (AP) - Eclipse Aviation, which has been struggling in recent months, announced Tuesday it is seeking court approval to restructure under the bankruptcy code. (Tue, 25 Nov 2008 16:15:08 GMT)

Eclipse files for bankruptcy protection
Troubled Eclipse Aviation has filed for Chapter 11 bankruptcy protection to help it restructure under the U.S. bankruptcy code. (Tue, 25 Nov 2008 16:26:04 GMT)

Small jet maker Eclipse files for bankruptcy
Eclipse Aviation Corp, which pioneered the market for very light jets, filed for bankruptcy protection on Tuesday as it ran out of financing to stay afloat. (Tue, 25 Nov 2008 20:40:31 GMT)

Downey Financial, Mortgage Lender, Files Bankruptcy (Update2)
Nov. 25 (Bloomberg) -- Downey Financial Corp. , the California thrift whose assets were taken over by U.S. Bancorp four days ago when it was closed by regulators, filed to liquidate itself in bankruptcy court. (Wed, 26 Nov 2008 02:06:42 GMT)

Suzuki sees GM bankruptcy as "100 percent" impossible
Suzuki Motor Corp Chief Executive Osamu Suzuki said on Wednesday he believed a Chapter 11 bankruptcy filing by former top shareholder General Motors Corp was "100 percent" impossible. (Wed, 26 Nov 2008 04:02:23 GMT)

Downey Financial Files Bankruptcy After Assets Taken Over
Nov. 26 (Bloomberg) -- Downey Financial Corp. , the California thrift closed by regulators, filed to liquidate itself in bankruptcy court, four days after its assets were taken over by U.S. Bancorp . (Wed, 26 Nov 2008 05:37:03 GMT)

LandAmerica files for Chapter 11 bankruptcy protection
Title insurer LandAmerica Financial Group Inc said it has filed for bankruptcy protection and its bigger rival Fidelity National Financial Inc will buy two of its underwriting units. (Wed, 26 Nov 2008 08:09:58 GMT)

Steel Fabrication Company Files For Bankruptcy
Innovative Steel Technologies Inc. filed for Chapter 11 bankruptcy protection this week. (Wed, 26 Nov 2008 10:41:06 GMT)

Small Jet Maker Eclipse Files For Bankruptcy
Eclipse Aviation , which pioneered the market for very light jets, filed for bankruptcy protection on Tuesday as it ran out of financing to stay afloat, Reuters said. (Wed, 26 Nov 2008 11:05:37 GMT)

Downey Financial Files For Chapter 7 Bankruptcy
Downey Financial , a large provider of mortgages that proved risky, on Tuesday filed for bankruptcy protection, four days after federal regulators seized its banking operations. (Wed, 26 Nov 2008 11:05:44 GMT)

LandAmerica files for bankruptcy protection
Title insurer LandAmerica Financial Group Inc. said Wednesday it will file for bankruptcy protection, while competitor Fidelity National Financial Inc. said it will acquire three of LandAmerica's subsidiaries. (Wed, 26 Nov 2008 12:38:30 GMT)

LandAmerica Seeks Bankruptcy, Debt of $2.8 Billion (Update1)
Nov. 26 (Bloomberg) -- LandAmerica Financial Group Inc. , the third-largest U.S. title insurer, filed for bankruptcy after announcing a $298 million sale of three subsidiaries to Fidelity National Financial Inc and Chicago Title Insurance Co. (Wed, 26 Nov 2008 13:12:55 GMT)

Icelandic bank files for U.S. bankruptcy protection
Glitnir Banki, the 104-year-old Icelandic bank taken over by the country's financial regulators, sought bankruptcy protection from its U.S. creditors. (Wed, 26 Nov 2008 22:30:51 GMT)

Ill. farmer pleads guilty in bankruptcy fraud case
A southern Illinois farmer pleaded guilty Wednesday to federal bankruptcy fraud charges, and his attorney said outside court that his client had nothing to do with the unsolved killings of a potential witness and his wife. (Thu, 27 Nov 2008 02:24:26 GMT)

Ill. farmer pleads guilty in bankruptcy fraud case
A southern Illinois farmer pleaded guilty Wednesday to federal bankruptcy fraud charges, and his attorney said outside court that his client had nothing to do with the unsolved killings of a potential witness and his wife. Joseph Diekemper, 60, of Carlyle,... (Thu, 27 Nov 2008 02:49:06 GMT)

Eclipse Aviation OK'd to restructure in bankruptcy
A federal judge has granted Eclipse Aviation Corp.'s request to restructure under Chapter 11 bankruptcy protection, giving the Albuquerque manufacturer time to make its very-light jet profitable. The company's acting chief executive Roel Pieper told the company's 945 employees that the court ruling clears the way for a public auction of Eclipse Aviation's assets in January. (Thu, 27 Nov 2008 07:40:21 GMT)

Bankruptcy fraud plea sheds no new light on Bond County murders
EAST ST. LOUIS — A Carlyle dairy farmer's guilty plea Wednesday in a bankruptcy fraud case shed no new light on the murders of two potential witnesses against him. (Thu, 27 Nov 2008 09:28:34 GMT)

British retailer Woolworths says close to bankruptcy
British clothes-to-confectionery retail group Woolworths said on Thursday that it was close to bankruptcy as it appointed independent admistrators to try and save the business and its 25,000 employees. (Thu, 27 Nov 2008 09:58:31 GMT)

British retailer Woolworths close to bankruptcy
LONDON: British clothes-to-confectionery retail group Woolworths said on Thursday that it was close to bankruptcy as it appointed independent administrators to try and save the business and its 25,000 employees. (Thu, 27 Nov 2008 11:11:49 GMT)

Woolworths close to bankruptcy
Retail group Woolworths said on Thursday that it was close to bankruptcy as it appointed independent admistrators to try and save the business and its 25,000 employees. (Thu, 27 Nov 2008 12:20:17 GMT)

Ernie Haire Ford Of Tampa Files For Chapter 11 Bankruptcy
Ernie Haire Ford Inc. of Tampa has filed for bankruptcy protection, boosting to at least five the number of local auto dealerships that have faltered in the troubled economy. (Thu, 27 Nov 2008 13:27:23 GMT)

Franchisee Of 146 Waffle Houses Files For Bankruptcy
The days may be numbered for "scattered, covered and smothered" hash browns at Waffle House. The iconic roadside grill's biggest franchisee has filed for bankruptcy protection. (Thu, 27 Nov 2008 13:27:26 GMT)

(AFX UK Focus) 2008-11-28 08:24 Japan's Morimoto files for bankruptcy protection
TOKYO, Nov 28 (Reuters) - Japanese condominium developer Morimoto Co Ltd said on Friday it filed for bankruptcy protection with total debt of 161.5 billion yen ($1.7 billion). (Fri, 28 Nov 2008 08:49:42 GMT)

Co-owner of TWDC facing bankruptcy
Bankruptcy looks likely for the owner of The Woodlands Development Company and The Woodlands Mall. (Fri, 28 Nov 2008 09:13:35 GMT)

Club asks to shift bankruptcy
JACKSON - A golf and home development along the Snake River has filed a federal court motion to convert from Chapter 11 to Chapter 7 bankruptcy. (Fri, 28 Nov 2008 10:15:45 GMT)

Mont. monitors ritzy resort bankruptcy proceedings
Montana tax officials said they are closely watching the Yellowstone Club bankruptcy proceedings. The ritzy resort near Yellowstone National Park is going through a bankruptcy as it looks to reorganize mounting debt amid tight credit markets. (Fri, 28 Nov 2008 14:04:49 GMT)

State watches Yellowstone Club bankruptcy
HELENA — State tax officials said they are closely watching the Yellowstone Club bankruptcy proceedings. (Fri, 28 Nov 2008 15:16:37 GMT)

Yellowstone Club - State keeping close eye on resort’s bankruptcy
HELENA - State tax officials said they are closely watching the Yellowstone Club bankruptcy proceedings. The ritzy resort near Yellowstone National Park is going through a bankruptcy as it looks to reorganize mounting debt amid tight credit markets. (Fri, 28 Nov 2008 16:04:57 GMT)

Commercial Alloys, Ohio Aluminum Recycler, Seeks Bankruptcy
Nov. 28 (Bloomberg) -- Commercial Alloys Corp., the aluminum recycler with facilities in Ohio, Florida and Alabama, sought bankruptcy protection from creditors, blaming unfavorable trading prices and inefficiencies at its plants. (Fri, 28 Nov 2008 16:06:59 GMT)

Waffle House franchisee files for bankruptcy
A Tampa-area franchisee that owns 90 Waffle House restaurants in Florida was forced to file for bankruptcy protection. Northlake Foods Inc. said in a Chapter 11 bankruptcy filing in September that it was faced with a cash flow shortage made worse by the current economic conditions. (Fri, 28 Nov 2008 16:56:35 GMT)

Debt-hit Dublin pubs seek bankruptcy protection
Dublin's premier pub-running company won bankruptcy protection Friday in a surprising sign that Ireland's credit crunch is pushing even the most liquid of businesses to the breaking point. (Fri, 28 Nov 2008 20:05:42 GMT)

Debt-hit Dublin pubs seek bankruptcy protection
Dublin's premier pub-running company won bankruptcy protection Friday in a surprising sign that Ireland's credit crunch is pushing even the most liquid of businesses to the breaking point. High Court Justice Brian McGovern granted bankruptcy protection to the... (Fri, 28 Nov 2008 20:34:07 GMT)

Bankruptcy Could Offer GM More Flexibility
General Motors insists that bankruptcy would be a catastrophic way to solve its cash problems, but that hasn't stopped analysts and bankers from speculating about how a restructuring might shake out. (Sat, 29 Nov 2008 02:44:39 GMT)

State watches Yellowstone Club bankruptcy
HELENA — State tax officials said they are closely watching the Yellowstone Club bankruptcy proceedings. (Sat, 29 Nov 2008 08:01:46 GMT)

Co-owner of TWDC facing bankruptcy
Bankruptcy looks likely for the owner of The Woodlands Development Company and The Woodlands Mall. (Sat, 29 Nov 2008 09:58:30 GMT)

Rio Vista, Isleton weigh bankruptcy as deficits grow
When the city of Vallejo filed for bankruptcy protection in May, the logical question was: Is this a sign of things to come? Now two more Northern California cities – Rio Vista and Isleton – are considering bankruptcy protection as an option as they face large budget shortfalls and staggering debt. (Sat, 29 Nov 2008 11:05:38 GMT)

Wisconsin's Jellystone Park campsite files bankruptcy
Van Der Molen Recreational Properties Inc., the owner of a Jellystone Park camping resort in western Wisconsin, has sought bankruptcy protection two months after losing a Minnesota lender's lawsuit over missing loan payments. (Sat, 29 Nov 2008 14:15:30 GMT)

Sandusky water park filing for bankruptcy
SANDUSKY, Ohio -- A waterpark resort that opened last summer is closing and laying off 100 employees after filing for bankruptcy. (Sun, 30 Nov 2008 01:04:31 GMT)

Poll: Bankruptcy for Big Three
MOULTRIE — Given a choice, respondents to The Observer’s online poll think the bankruptcy proceedings that are good enough for individuals and small businesses are good enough for the nation’s automakers. (Sun, 30 Nov 2008 03:34:54 GMT)

New Info On LandAmerica Bankruptcy Filing
There is new information on Richmond-based LandAmerica's bankruptcy filing CBS 6 News has learned the company has now canceled insurance coverage for retirees. (Sun, 30 Nov 2008 05:06:39 GMT)

Park Meadows’ parent company faces bankruptcy
Despite a potential bankruptcy of General Growth Properties, it should still be business as usual for Park Meadows mall and for the City of Lone Tree. (Sun, 30 Nov 2008 06:24:40 GMT)

Co-owner of TWDC facing bankruptcy
Bankruptcy looks likely for the owner of The Woodlands Development Company and The Woodlands Mall. (Sun, 30 Nov 2008 07:20:48 GMT)

Mall owner faces possible bankruptcy; U.S. 380 mall put on hold
General Growth Properties Inc. (GGP), owner of Stonebriar Centre and Collin Creek Mall in Plano, may be forced to seek bankruptcy protection from its creditors if its debt can't be extended or refinanced. Both malls will remain open for business, officials said. (Sun, 30 Nov 2008 07:21:13 GMT)

Lenox Group Inc. in Eden Prairie files for bankruptcy
Lenox Group Inc., a leading tabletop, giftware and collectibles company based in Eden Priaire, announced Nov. 24 that it has filed a voluntary petition for reorganization relief under Chapter 11 of the United States Bankruptcy Code in the Southern District of New York. (Sun, 30 Nov 2008 07:37:32 GMT)

Montana watches Yellowstone Club bankruptcy
HELENA, Mont. -- Montana tax officials said they are closely watching the Yellowstone Club bankruptcy proceedings. (Sun, 30 Nov 2008 10:03:07 GMT)

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