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Home > Bankruptcy News

Bankruptcy News Dec 2008

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Japan Stocks Slide on Developer Bankruptcy; Inpex Slumps on Oil
Dec. 1 (Bloomberg) -- Japan stocks fell on concern business failures and bad loan costs will mount after builder Morimoto Co. became the nation’s second-biggest bankruptcy this year. (Mon, 01 Dec 2008 01:59:59 GMT)

Japan Stocks Slide on Developer Bankruptcy; Inpex Slumps on Oil
Dec. 1 (Bloomberg) -- Japan stocks fell on concern bad-loan costs and job losses will mount after builder Morimoto Co. became the nation’s second-biggest bankruptcy this year. (Mon, 01 Dec 2008 03:31:16 GMT)

Bankruptcy Lawyer Leaves Goldman for Law Firm
After three years at Goldman Sachs, James H. M. Sprayregen will return to Kirkland & Ellis, the law firm where he spent 16 years advising companies on bankruptcy matters. (Mon, 01 Dec 2008 05:55:36 GMT)

Hawaiian Telcom files for bankruptcy protection
Hawaiian Telcom Communications Inc., the largest telephone company on the Hawaiian islands, said Monday that it has filed for Ch. 11 bankruptcy protection. (Mon, 01 Dec 2008 12:18:19 GMT)

Bankruptcy Lawyer Leaves Goldman for Law Firm
A prominent bankruptcy lawyer is returning to his roots, The New York Times’s Michael J. de la Merced reported. The lawyer, James H. M. Sprayregen, who spent the last three years at Goldman Sachs , will return Dec. 12 to Kirkland & Ellis , the law firm where he spent 16 years advising companies on restructuring and bankruptcy matters. (Mon, 01 Dec 2008 13:05:55 GMT)

HawTel files bankruptcy
Hawaiian Telcom filed for voluntary bankruptcy protection early this morning after it was unable to reach an 11th-hour deal with its creditors. The state's largest telephone company filed for Chapter 11 reorganization in U.S. Bankruptcy Court in Delaware to shield its assets from bondholders, who could have demanded hundreds of millions of dollars from the company. (Mon, 01 Dec 2008 13:15:00 GMT)

German chip maker Qimonda could face bankruptcy
Qimonda AG, the memory chip company majority owned by Infineon Technologies AG, said Monday it may face bankruptcy if it fails to find new investors or the cash needed to operate in the coming weeks. Ralph Heinrich, a Qimonda spokesman, told The Associated... (Mon, 01 Dec 2008 14:04:16 GMT)

German chip maker Qimonda could face bankruptcy
Qimonda AG, the memory chip company majority owned by Infineon Technologies AG, said Monday it may face bankruptcy if it fails to find new investors or the cash needed to operate in the coming weeks. (Mon, 01 Dec 2008 14:15:20 GMT)

Hawaiian Telcom Communications Files Bankruptcy (Update1)
Dec. 1 (Bloomberg) -- Hawaiian Telcom Communications Inc., a provider of local telephone service in Hawaii, sought bankruptcy protection, citing the U.S. economic slowdown and increased competition. (Mon, 01 Dec 2008 14:36:35 GMT)

Hawaiian Telcom Communications Files Bankruptcy (Update2)
Dec. 1 (Bloomberg) -- Hawaiian Telcom Communications Inc., a provider of local and long-distance telephone service in Hawaii, sought bankruptcy protection from creditors, citing the U.S. economic slowdown and increased competition. (Mon, 01 Dec 2008 14:53:27 GMT)

German chip maker Qimonda could face bankruptcy
Qimonda AG, the memory chip company majority owned by Infineon Technologies AG, said Monday it may face bankruptcy if it fails to find new investors or the cash needed to operate in the coming weeks. (Mon, 01 Dec 2008 18:42:19 GMT)

Pilgrim's Pride files for bankruptcy protection
Pilgrim's Pride Corp. filed for Chapter 11 bankruptcy protection on Monday, hurt like other meat producers by volatile feed prices and slumping demand but also hobbled by an unmanageable debt load. (Mon, 01 Dec 2008 22:15:44 GMT)

Pilgrim's files for bankruptcy, weighs on rivals
CHICAGO (Reuters) - Pilgrim's Pride Corp , the largest U.S. chicken company, filed on Monday for voluntary bankruptcy protection after struggling this past year with high feed costs and low meat prices. (Mon, 01 Dec 2008 22:36:23 GMT)

Pilgrim's Pride files for bankruptcy protection
MILWAUKEE -- One of the hard-pressed protein industry's biggest players, Pilgrim's Pride Corp., filed for Chapter 11 bankruptcy protection on Monday, a move predicted by many analysts as the company hobbled under its debt load, volatile feed prices and slumping demand. (Mon, 01 Dec 2008 22:36:54 GMT)

Carlyle's Hawaiian Telcom Files for Bankruptcy
Carlyle Group, the District-based private-equity firm, suffered a new setback yesterday when one of its investments, a Hawaiian provider of local and long-distance telephone service, filed for bankruptcy protection. (Tue, 02 Dec 2008 01:59:39 GMT)

Mondavi-inspired wine center files for bankruptcy
Six months after California wine pioneer Robert Mondavi's death, the not-for-profit Copia wine and food center he founded filed for bankruptcy on Monday while it seeks to restructure and stay afloat. (Tue, 02 Dec 2008 03:09:44 GMT)

Modern Metal, Partsmaker, Blames Bankruptcy on Falling Demand
Dec. 2 (Bloomberg) -- Modern Metal Products Co. , the Illinois auto-parts maker specializing in seats and assemblies for sport-utility vehicles faced with plummeting demand, filed for bankruptcy protection and said it will liquidate. (Tue, 02 Dec 2008 06:23:01 GMT)

Notify lender of bankruptcy
The Bankruptcy Adviser advises a reader who wants to finance a car in the midst of filing Chapter 7. (Tue, 02 Dec 2008 11:00:00 GMT)

Carlyle’s Hawaiian Telcom Files for Bankruptcy Protection
Hawaiian Telcom Communications , the largest telephone company in Hawaii, said Monday that it had filed for Chapter 11 bankruptcy protection. (Tue, 02 Dec 2008 12:19:53 GMT)

Benjamin Construction files for bankruptcy
Benjamin Construction, a Raleigh company that made a name for itself with work on the rebuilt North Hills development, has filed for Chapter 11 bankruptcy protection. (Tue, 02 Dec 2008 15:27:14 GMT)

GM chief: bankruptcy not an option for industry
A top executive of General Motors says bankruptcy isn't a viable option for struggling U.S. automakers, maintaining that a retooling plan being presented to Congress this week will save the industry. (Wed, 03 Dec 2008 12:29:20 GMT)

GM President: Bankruptcy Not an Option
General Motors Corp. President Fritz Henderson said Wednesday that bankruptcy isn't a viable option for struggling U.S. automakers seeking $34 billion in federal aid, maintaining that a retooling plan they're giving to Congress this week is sufficient to save the industry. (Wed, 03 Dec 2008 13:49:07 GMT)

Pilgrim's Pride gets $365 million in bankruptcy funds
Pilgrim's Pride Corp , which filed for bankruptcy on Monday, said on Wednesday that it had received interim court approval to access $365 million of $450 million in debtor-in-possession financing. (Wed, 03 Dec 2008 14:17:49 GMT)

Bally Total Fitness Files for Bankruptcy After Emerging in 2007
Dec. 3 (Bloomberg) -- Bally Total Fitness Holding Corp. , the operator of 400 gyms in the U.S., the Caribbean, Mexico, South Korea and China, filed for bankruptcy protection again, little more than a year after emerging from court protection. (Wed, 03 Dec 2008 14:54:30 GMT)

Bally's falls into bankruptcy again
Bally Total Fitness Corp. filed for Chapter 11 bankruptcy protection Wednesday -- marking the second time the Chicago fitness center operator has taken shelter in bankruptcy court -- and the closely held concern said it will seek to find a buyer if possible. (Wed, 03 Dec 2008 15:03:47 GMT)

Bally files for bankruptcy again, up for sale
Bally Total Fitness Holding Corp, which operates 347 health clubs serving more than 3.1 million customers, filed for bankruptcy protection for the second time in 17 months, and put itself up for sale. (Wed, 03 Dec 2008 16:17:50 GMT)

Bally Fitness Files Bankruptcy After Emerging in 2007 (Update1)
Dec. 3 (Bloomberg) -- Bally Total Fitness Holding Corp., the operator of 347 gyms in the U.S., filed for bankruptcy little more than a year after emerging from court protection with financing from hedge fund firm Harbinger Capital Partners. (Wed, 03 Dec 2008 16:24:05 GMT)

B. Moss Clothing, Apparel Retailer, Files Bankruptcy (Update1)
Dec. 3 (Bloomberg) -- B. Moss Clothing Co., the New Jersey operator of 70 women’s apparel stores in 16 states, sought bankruptcy protection from creditors with a plan to liquidate its assets at store-closing sales. (Wed, 03 Dec 2008 16:36:36 GMT)

GM exec: bankruptcy not an option for industry
A top executive of General Motors Corp. said Wednesday bankruptcy isn't a viable option, as the United Auto Workers braced for a decision on contract concessions to the endangered Big Three. (Wed, 03 Dec 2008 16:48:58 GMT)

Entellium Files Bankruptcy, Intuit Eyeing Assets
Troubled CRM (customer relationship management) vendor Entellium has filed Chapter 11 bankruptcy and Intuit is interested in buying the company's assets, according to documents filed in a Washington state U.S. Bankruptcy Court. (Wed, 03 Dec 2008 16:50:58 GMT)

Bally Total Fitness Files Again for Bankruptcy
Bally Total Fitness , the gym operator controlled by the hedge fund Harbinger Capital Partners , filed for bankruptcy protection on Wednesday for the second time in less than two years, hindered by debt and limited refinancing options amid the credit crunch. (Wed, 03 Dec 2008 20:49:33 GMT)

Report: GM and Chrysler Considering Bankruptcy to Get Bailout
Two of the big three automakers are considering accepting a pre-arranged bankruptcy as way of getting a multi-billion dollar bailout. (Thu, 04 Dec 2008 08:53:19 GMT)

GM, Chrysler May Accept Bankruptcy to Receive Bailout
Dec. 4 (Bloomberg) -- General Motors Corp. and Chrysler LLC executives are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, said a person familiar with their internal discussions. (Thu, 04 Dec 2008 10:30:02 GMT)

GM, Chrysler considering bankruptcy to get bailout: report
General Motors Corp and Chrysler LLC are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multi-billion dollar government bailout, Bloomberg reported, citing a person familiar with internal discussions. (Thu, 04 Dec 2008 10:35:01 GMT)

Asian Stocks Drop on GM, Chrysler Bankruptcy Concern; Rio Falls
Dec. 4 (Bloomberg) -- Asian stocks fell, erasing earlier gains, and U.S. futures dropped on speculation General Motors Corp. and Chrysler LLC will enter bankruptcy, overshadowing steps by central banks to prevent the global recession from deepening. (Thu, 04 Dec 2008 10:37:02 GMT)

GM, Chrysler Might Accept Bankruptcy-for-bailout: Bloomberg
GM, Chrysler Might Accept Bankruptcy-for-bailout: Bloomberg (Thu, 04 Dec 2008 12:04:13 GMT)

Automakers Said to Mull Bankruptcy Option to Get Bailout
General Motors and Chrysler are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multi-billion dollar government bailout, Bloomberg News reported, citing a person familiar with internal discussions. (Thu, 04 Dec 2008 12:05:23 GMT)

GM, Chrysler Mull Bankruptcy: Report
General Motors and Chrysler executives are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, a report says. (Thu, 04 Dec 2008 13:36:10 GMT)

Entellium Files Bankruptcy, Intuit Eyeing Assets
Troubled CRM (customer relationship management) vendor Entellium has filed Chapter 11 bankruptcy and Intuit is interested in buying the company's assets, according to documents filed in a Washington state U.S. Bankruptcy Court. (Thu, 04 Dec 2008 15:45:16 GMT)

Report: GM, Chrysler consider bankruptcy
Sourcing Bloomberg News and Reuters, Automotive News is reporting that General Motors and Chrysler are considering accepting a pre-arranged bankruptcy as a final measure to get aid from the federal government. (Thu, 04 Dec 2008 16:42:25 GMT)

Prepackaged bankruptcy a last-resort option
General Motors and Chrysler executives are considering accepting a prearranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, said a person familiar with their internal discussions. (Fri, 05 Dec 2008 07:55:44 GMT)

Ahead of the Bell: Circuit City bankruptcy hearing
Circuit City Stores Inc. heads into U.S. Bankruptcy Court for a hearing on Friday to seek final approval on motion to allow the company to continue operating during the process, and the important holiday shopping season. (Fri, 05 Dec 2008 11:57:19 GMT)

Gai Mattiolo arrested for alleged bankruptcy fraud
The Italian financial police say they have arrested fashion designer Gai Mattiolo on a charge of fraudulent bankruptcy. (Fri, 05 Dec 2008 12:36:30 GMT)

Gai Mattiolo arrested for alleged bankruptcy fraud
The Italian financial police say they have arrested fashion designer Gai Mattiolo on a charge of fraudulent bankruptcy. Officer Stefano Catorci says Mattiolo was placed under house arrest in Rome early Friday for allegedly siphoning funds from his fashion... (Fri, 05 Dec 2008 12:55:03 GMT)

Meltdown 101: If a carmaker files for bankruptcy
-- As much as they hate the idea, one or more of the big U.S. automakers might end up filing for bankruptcy as they struggle with growing debt, plummeting sales and a tough sell on a $34 billion rescue package they want Congress to pass. (Fri, 05 Dec 2008 13:28:34 GMT)

Modern Metal Products files for bankruptcy
Hindered by the nationwide drop in auto sales, a northern Illinois auto parts supplier filed for Chapter 11 bankruptcy protection this week. (Fri, 05 Dec 2008 14:24:13 GMT)

Sentinel Management bankruptcy trustee sues Citadel, Goldman Sachs
Citadel Investment Group LLC and Goldman Sachs & Co. have been sued by the trustee in the bankruptcy last year of Sentinel Management Group Inc., the Northbrook-based cash-management firm. (Fri, 05 Dec 2008 14:52:06 GMT)

a21 files for bankruptcy
Design imaging company a21 Inc. filed for Chapter 11 bankruptcy Thursday along with its two subsidiaries. (Fri, 05 Dec 2008 15:11:03 GMT)

City discusses taxes, bankruptcy, dissolution
Crab Orchard officials and residents are discussing the possibility of increasing taxes, declaring bankruptcy or dissolving the town to overcome their near $2 million debt. The group gathered Thursday for a community forum on the town's financial troubles, which were incurred when the ERJ metal stamping factory closed in 2004. City attorney Paul Long, who briefed the audience, says the ... (Fri, 05 Dec 2008 15:15:34 GMT)

Bally Total Fitness files for bankruptcy
Bally Total Fitness Centers, which has 11 sites in the Philadelphia area, filed for Chapter 11 bankruptcy in an attempt to reorganize its finances. (Fri, 05 Dec 2008 16:03:30 GMT)

Chrysler hires law firm as bankruptcy counsel: report
Chrysler has hired Jones Day law firm as its bankruptcy counsel, the Wall Street Journal reported on Friday. (Fri, 05 Dec 2008 18:13:04 GMT)

GM, Chrysler May Need Twice Bailout Loans to Finance Bankruptcy
Dec. 5 (Bloomberg) -- General Motors Corp. and Chrysler LLC would both need at least twice as much to finance a bankruptcy as they say they need in U.S. government bailout loans, Chrysler and a restructuring expert said. (Fri, 05 Dec 2008 23:46:27 GMT)

GM, Chrysler Bankruptcy Financing Would Be Double Bailout Loans
Dec. 6 (Bloomberg) -- Financing a bankruptcy by General Motors Corp. or Chrysler LLC would cost at least twice as much as the automakers say they need in U.S. government bailout loans, Chrysler and a restructuring expert said. (Sat, 06 Dec 2008 05:31:33 GMT)

Chrysler gets bankruptcy advisers
Chrysler LLC hired a firm that specializes in bankruptcy proceedings because Congress asked it to study the drastic step as an option, the automaker said in a statement Friday. (Sat, 06 Dec 2008 06:26:34 GMT)

PFF Bancorp Files Bankruptcy After Assets Taken Over (Update2)
Dec. 5 (Bloomberg) -- PFF Bancorp Inc., the California thrift closed by regulators, filed for bankruptcy protection after its assets were taken over by U.S. Bancorp. (Sat, 06 Dec 2008 07:15:16 GMT)

Circuit City Files for Bankruptcy Protection
Richmond-based Circuit City, the nation's second largest electronics chain, filed for Chapter 11 bankruptcy protection this morning, one week after announcing it would close one-fifth of its stores in a nationwide effort to cut costs and conserve cash in an increasingly grim retail climate. (Sat, 06 Dec 2008 09:01:28 GMT)

Chrysler CEO says bankruptcy possible without loan
DETROIT -- Chrysler LLC Chief Executive Robert Nardelli told lawmakers considering financial support for the auto industry Friday that Chrysler would be pushed toward bankruptcy or even liquidation if it doesn't get federal loans. (Sat, 06 Dec 2008 11:26:45 GMT)

Uncertainty continues in VeraSun bankruptcy
CHARLES CITY --- The futures of many Northeast Iowa farmers entangled in the bankruptcy of a major ethanol producer are still in doubt following a recent bankruptcy hearing. (Sat, 06 Dec 2008 12:35:29 GMT)

KANSAS CITY, Mo. Twinkies maker to exit bankruptcy
A federal judge has cleared the way for the maker of Hostess Twinkies and Wonder Bread to exit more than four years of bankruptcy.U.S. Bankruptcy Judge Jerry Venters on Friday approved the reorganization plan for Interstate Bakeries Corp. (Sat, 06 Dec 2008 13:23:14 GMT)

Creditor asks judge to bar wine museum bankruptcy
The main creditor for a Napa food and wine museum filing for bankruptcy is asking a judge to block the plan. Copia, a nonprofit also known as The American Center for Wine, Food and the Arts, filed for Chapter 11 bankruptcy on Dec. 1, saying it needs to... (Sat, 06 Dec 2008 23:09:53 GMT)

Aliquippa hospital files for bankruptcy
The Beaver County hospital that was ordered to stop taking patients last month has filed for Chapter 11 bankruptcy in federal court. (Sun, 07 Dec 2008 05:53:38 GMT)

Bankruptcy official known for sense of fairness
As the bankruptcy administrator for North Carolina's Eastern District, Marjorie Lynch sees what happens when capitalism falters. (Sun, 07 Dec 2008 07:43:42 GMT)

Meltdown 101: If a carmaker files for bankruptcy
As much as they hate the idea, one or more of the big U.S. automakers might end up filing for bankruptcy as they struggle with growing debt, plummeting sales and a tough sell on a $34 billion rescue package they want Congress to pass. (Sun, 07 Dec 2008 08:11:30 GMT)

It sounds scary, but bankruptcy isn't always bad
Bankruptcy is a scary word to many people - it is often thought of as the end. However, bankruptcy law also provides an option that allows a financially troubled company to present a plan of reorganization to its creditors while continuing business operations. (Sun, 07 Dec 2008 10:26:48 GMT)

Pilgrim's Pride town stays calm despite bankruptcy
Lonnie "Bo" Pilgrim drives a few miles down U.S. Hwy. 271 some Saturdays, buys a $3.99 oatmeal breakfast at Herschel's Restaurant and hands out $20 bills along with "Jesus Saves" pamphlets. (Sun, 07 Dec 2008 12:59:40 GMT)

Meltdown 101: If a carmaker files for bankruptcy
As much as they hate the idea, one or more of the big U.S. automakers might end up filing for bankruptcy as they struggle with growing debt, plummeting sales and a tough sell on a $34 billion rescue package they... (Sun, 07 Dec 2008 15:13:41 GMT)

Copia creditor seeking to block bankruptcy
SANTA ROSA -- The main creditor for a Napa food and wine museum filing for bankruptcy is asking a judge to block the plan. (Sun, 07 Dec 2008 15:18:30 GMT)

Tribune Co., in Debt, Could Be Flirting With Bankruptcy
The Tribune Company is trying to negotiate new terms with its creditors and has hired advisers for a possible bankruptcy filing, according to people briefed on the matter. (Mon, 08 Dec 2008 03:05:54 GMT)

Reports: Tribune Co. weighing bankruptcy filing
Tribune Co., owner of the Los Angeles Times and Chicago Tribune, other newspapers and the Chicago Cubs and Wrigley Field, has hired financial advisers ahead of a possible filing for bankruptcy-court protection, according to reports on Sunday. (Mon, 08 Dec 2008 03:14:34 GMT)

Tribune media company may file for bankruptcy: report
Tribune Company, a media conglomerate that owns The Los Angeles Times and Chicago Tribune, may file for bankruptcy as early as this week, The Wall Street Journal reported on its website. (Mon, 08 Dec 2008 03:32:56 GMT)

Debt-Ridden Tribune Co. Considers Bankruptcy
Media giant Tribune Co., saddled with billions in debt since it became a privately held company last year, has hired bankruptcy advisers, according to its flagship newspaper, the Chicago Tribune. (Mon, 08 Dec 2008 05:33:26 GMT)

Tribune prepares for possible bankruptcy filing: report
Publisher and broadcaster Tribune Co. is preparing for a possible bankruptcy-protection filing as soon as this week, The Wall Street Journal reported on its website on Sunday, citing people familiar with the matter. (Mon, 08 Dec 2008 11:20:36 GMT)

Tribune Considering Filing for Bankruptcy Protection, WSJ Says
Dec. 8 (Bloomberg) -- Tribune Co. , the newspaper publisher and broadcaster taken private by billionaire Sam Zell last year, is considering filing for bankruptcy protection, according to the Wall Street Journal. (Mon, 08 Dec 2008 12:00:53 GMT)

Jobs at risk as Wagon car parts faces bankruptcy
The Birmingham-based arm of European car parts maker Wagon Automotive was on Monday facing bankruptcy after failing to clinch a rescue deal, dealing another blow to the global industry. (Mon, 08 Dec 2008 12:33:40 GMT)

Tribune Co. hires bankruptcy advisers
Debt-laden media company exploring restructuring options Chicago Tribune parent Tribune Co. is working with bankruptcy advisers at investment bank Lazard and law firm Sidley Austin to weigh financial options, including a possible restructuring for the heavily leveraged media company, sources said Sunday. (Mon, 08 Dec 2008 12:42:44 GMT)

Mulally: GM or Chrysler bankruptcy would hurt Ford
Ford Chief Executive Alan Mulally says a bankruptcy filing by General Motors or Chrysler would drag his company and industry suppliers into bankruptcy. (Mon, 08 Dec 2008 15:07:21 GMT)

Tribune hires firm to look at bankruptcy filing: source
Publisher and broadcaster Tribune Co has hired investment bank Lazard to look at a possible bankruptcy filing even as it continues talks with lenders to renegotiate its debt, a source briefed on the matter said on Monday. (Mon, 08 Dec 2008 15:51:01 GMT)

Tribune files for bankruptcy protection
NEW YORK (Reuters) - The publisher of the Chicago Tribune and the Los Angeles Times declared bankruptcy on Monday as the U.S. newspaper industry's unrelenting loss of readers and advertisers claimed its biggest victim yet. (Tue, 09 Dec 2008 01:51:14 GMT)

Advantage Rent-A-Car files for bankruptcy
Car rental chain Advantage Rent-A-Car filed for bankruptcy protection Monday and closed about 40% of its U.S. retail locations, citing a decline in the travel industry. (Tue, 09 Dec 2008 03:16:46 GMT)

Tribune files for bankruptcy protection
In yet another dire sign for the newspaper industry, the Tribune Co. filed for Chapter 11 bankruptcy protection on Monday. (Tue, 09 Dec 2008 07:52:59 GMT)

Baltimore Opera To File For Bankruptcy Protection
The Baltimore Opera is expected to file for Chapter 11 bankruptcy protection Tuesday. The Baltimore Sun reports that the remainder of the 2008-09 season has been canceled, and ticket holders will not receive refunds. Peformers are being released from their contracts. (Tue, 09 Dec 2008 11:19:02 GMT)

Debt Forces Tribune Co. To File For Bankruptcy
Tribune Co., which owns the Los Angeles Times, Chicago Tribune, The Baltimore Sun and other daily newspapers, has filed for Chapter 11 bankruptcy. The conglomerate also owns TV stations, the Chicago Cubs and Wrigley Field. It's been crushed by a drop in advertising and $13 billion in debt. (Tue, 09 Dec 2008 11:30:47 GMT)

Tribune bankruptcy buys time to fix finances
Tribune Co.'s bankruptcy filing gives the struggling newspaper and television station owner time to put its finances in order, and complete the difficult task of finding buyers for some of its troubled properties amid a dismal advertising environment. (Tue, 09 Dec 2008 12:44:41 GMT)

EZ Lube, Car Oil-Change Chain, Files for Bankruptcy (Update1)
Dec. 9 (Bloomberg) -- EZ Lube LLC, a car oil-change chain with 82 stores in California and Arizona, filed for bankruptcy protection today, citing worsening financial conditions that have caused customers to forego auto services. (Tue, 09 Dec 2008 13:43:35 GMT)

US media giant Tribune Co. files for bankruptcy
The Tribune Co., owner of the Los Angeles Times, The Chicago Tribune and other dailies, filed for bankruptcy, in the latest blow to a newspaper industry reeling from a drop in advertising and the rise of online media. (Tue, 09 Dec 2008 14:26:55 GMT)

Tribune Bankruptcy ‘Stops Clocks,’ Eases Debt Burden (Update2)
Dec. 9 (Bloomberg) -- Tribune Co. ’s bankruptcy filing gives billionaire investor Sam Zell a potentially lighter debt load and time to sell assets including the Chicago Cubs baseball team. (Tue, 09 Dec 2008 16:11:37 GMT)

EZ Lube, Car Oil-Change Chain, Files for Bankruptcy (Update2)
Dec. 9 (Bloomberg) -- EZ Lube LLC, a car oil-change chain with 82 stores in California and Arizona, filed for bankruptcy protection today, citing worsening financial conditions that have caused customers to forgo auto services. (Tue, 09 Dec 2008 16:43:22 GMT)

The Tribune Company's bankruptcy may signal a trend toward a new kind of newspaper journalism.
The Tribune Co.'s move into bankruptcy this week is the most prominent signal – but just one of many – that a tumultuous revolution in the news industry is accelerating. (Wed, 10 Dec 2008 08:00:00 GMT)

Nortel Explores Bankruptcy Options, Report Says
Nortel Networks has sought legal advice to study a bankruptcy protection scenario in the event that its restructuring plan fails and has also been exploring potential assistance from the Canadian government, The Wall Street Journal reported, citing people familiar with the situation. (Wed, 10 Dec 2008 12:29:00 GMT)

Nortel seeks legal advice on possible bankruptcy: report
Canadian telecoms equipment provider Nortel Networks has sought legal advice for possible bankruptcy and is also trying to secure government aid, the Wall Street Journal reported on Wednesday. (Wed, 10 Dec 2008 12:42:41 GMT)

Nortel explores bankruptcy, govt aid scenarios: report
Nortel Networks Corp has sought legal advice to study a bankruptcy protection scenario in the event that its restructuring plan fails, and it has also been exploring potential assistance from the Canadian government, the Wall Street Journal reported. (Wed, 10 Dec 2008 13:52:33 GMT)

Nortel explores bankruptcy: report
Nortel Networks Corp, shares fell sharply on Wednesday after a Wall Street Journal report that North America's biggest telephone equipment maker has sought legal advice on a bankruptcy protection scenario in the event that its restructuring plan fails. (Wed, 10 Dec 2008 14:59:27 GMT)

GM to Lose Control With Options of Czar or Bankruptcy (Update2)
Dec. 10 (Bloomberg) -- General Motors Corp. Chief Executive Officer Rick Wagoner ’s options for the biggest U.S. automaker have dwindled to two, neither imaginable when he took the top job in 2000: Nationalization or bankruptcy. (Wed, 10 Dec 2008 15:31:42 GMT)

Report: Nortel seeks advice on possible bankruptcy
Nortel Networks Corp., a Canadian maker of telecommunications equipment, has sought legal advice on a possible filing for bankruptcy, according to a report Wednesday in The Wall Street Journal that sent Nortel's shares on a nosedive. (Wed, 10 Dec 2008 15:45:10 GMT)

Nortel shares dive on bankruptcy advice report
Nortel Networks Corp, shares fell 20 percent on Wednesday after a Wall Street Journal report that North America's biggest telephone equipment maker has sought legal advice on a bankruptcy protection scenario in the event that its restructuring plan fails. (Wed, 10 Dec 2008 15:59:19 GMT)

Nortel Drops After WSJ Says It’s Exploring Bankruptcy (Update1)
Dec. 10 (Bloomberg) -- Nortel Networks Corp. fell as much as 29 percent in New York trading after the Wall Street Journal reported the phone-equipment maker is exploring a possible bankruptcy filing. (Wed, 10 Dec 2008 16:13:35 GMT)

Tribune Bankruptcy May Signal Distress for Media-Company LBOs
Dec. 10 (Bloomberg) -- Tribune Co .’s bankruptcy is a bad omen for the almost $90 billion in buyouts of U.S. media companies from 2005 to 2007 that relied heavily on borrowed money and economic assumptions that proved too optimistic. (Wed, 10 Dec 2008 16:46:20 GMT)

Vick's bankruptcy statement draws creditors' ire
Major creditors in Michael Vick's bankruptcy case have objected to his disclosure statement, arguing that it lacks sufficient detail about his finances and prospects of returning to the NFL. (Thu, 11 Dec 2008 00:24:15 GMT)

Initial hearing held in Tribune bankruptcy
WILMINGTON, Del. -- Tribune Co. was authorized Wednesday to make certain payments to employees, vendors and others as it works through a Chapter 11 bankruptcy reorganization. (Thu, 11 Dec 2008 01:46:55 GMT)

Creditors: Large holes in Michael Vick's bankruptcy plan
Major creditors in Michael Vick's bankruptcy case have objected to his disclosure statement, arguing that it lacks sufficient detail about his wrecked finances and his prospects of returning to the NFL. A committee of creditors, including the Atlanta Falcons, filed the objection Tuesday in U.S. Bankruptcy Court in Newport News, Va. A hearing on whether the disclosure statement should be approved ... (Thu, 11 Dec 2008 06:54:01 GMT)

Nortel ponders bankruptcy move
But puts faith in cost cutting measures first. Nortel has hired lawyers to consider whether it should seek bankruptcy court protection, but has made no decision as it instead opts to follow the restructuring and cost-cutting plan devised last month. (Thu, 11 Dec 2008 10:32:57 GMT)

Post-Bankruptcy Twinkies Face Uncertain Future
Interstate Bakeries, the maker of the iconic snack cake, declared bankruptcy four years ago, but a judge approved a reorganization plan last week. Now the company is trying to figure out how to market its product for a more health-conscious generation. (Thu, 11 Dec 2008 11:47:48 GMT)

Bankruptcy On Horizon For Ala Moana, Ward Owners
Time is running out for General Growth Properties. Will the parent company of Ala Moana and the Ward shopping center file for bankruptcy protection? (Thu, 11 Dec 2008 15:14:28 GMT)

KB Toys Seeks Bankruptcy Protection Citing Sudden Drop in Sales
Dec. 11 (Bloomberg) -- KB Toys Inc. the 86-year-old toy retailer, filed for bankruptcy protection, blaming a cash crisis caused by a sudden drop in sales at its 277 stores. (Thu, 11 Dec 2008 15:49:10 GMT)

KB Toys files for bankruptcy
KB Toys Inc. the 86-year-old toy retailer and has stores in Freehold Township, Jackson and Toms River, filed for bankruptcy protection, blaming a cash crisis caused by a sudden drop in sales at its 277 stores. (Thu, 11 Dec 2008 15:53:04 GMT)

Nortel shares dive on bankruptcy advice
Nortel Networks Corp. shares fell 20 percent Wednesday after a Wall Street Journal report that North America's biggest telephone equipment maker has sought legal advice on a bankruptcy protection scenario in the event that its restructuring plan fails. (Thu, 11 Dec 2008 16:18:36 GMT)

KB Toys Files Bankruptcy, Citing ‘Sudden’ Sales Drop (Update1)
Dec. 11 (Bloomberg) -- KB Toys Inc., the 86-year-old toy retailer, filed for bankruptcy three years after leaving court protection, blaming a cash crisis caused by a “sudden” drop in sales at its 277 stores. (Thu, 11 Dec 2008 16:45:30 GMT)

Retailer KB Toys files for bankruptcy protection
In another sign of the grim holiday season, KB Toys filed for bankruptcy protection for the second time in four years on Thursday and plans to begin going-out-of business sales at its stores immediately. (Thu, 11 Dec 2008 20:33:37 GMT)

GM board has concluded bankruptcy not an option
General Motors Corp said on Thursday that its board has considered bankruptcy and concluded it is not a "viable option". (Thu, 11 Dec 2008 23:59:35 GMT)

GM board hired advisers to consider bankruptcy
General Motors Corp hired outside advisers to weigh bankruptcy, but the board determined that a filing was not an option for the struggling automaker, a GM spokesman said on Thursday. (Fri, 12 Dec 2008 00:26:14 GMT)

GM hires bankruptcy lawyers - report
General Motors has reportedly hired bankruptcy lawyers and restructuring consultants as lawmakers continue to debate the terms of a possible bailout of the ailing automaker. (Fri, 12 Dec 2008 00:39:36 GMT)

GM hires lawyers to mull bankruptcy
General Motors Corp. said Thursday it has hired legal advisers and was considering "all options," but warned bankruptcy was not a "viable solution" for the struggling US auto giant. (Fri, 12 Dec 2008 02:32:49 GMT)

KB Toys files for bankruptcy
KB Toys Inc, one of the largest U.S. toy retailers, filed for Chapter 11 bankruptcy protection on Thursday, with a plan to close all its stores and begin liquidation sales in the middle of the holiday season. (Fri, 12 Dec 2008 08:17:26 GMT)

GM Bankruptcy Risk Triggers Jump in Cost of Default Protection
Dec. 12 (Bloomberg) -- The cost of protecting corporate bonds from default soared on concern General Motors Corp. and Chrysler LLC may file for bankruptcy protection within weeks, sparking widespread credit-market losses. (Fri, 12 Dec 2008 12:11:39 GMT)

Prentice Is Hit as KB Toys Files for Bankruptcy
The New York Post takes a look at the New York firm’s bad bet on retailers, including Goody’s Family Clothing , a Tennessee chain that spent four months in Chapter 11 bankruptcy protection earlier this year. (Fri, 12 Dec 2008 13:12:17 GMT)

GM Bankruptcy Risk Triggers Jump in Cost of Default Protection
Dec. 12 (Bloomberg) -- The cost of protecting corporate bonds from default increased on concern that General Motors Corp. and Chrysler LLC may file for bankruptcy protection within weeks and deepen credit-market losses. (Fri, 12 Dec 2008 15:11:42 GMT)

KB files for bankruptcy, to close stores
KB Toys Inc. has filed for Chapter 11 bankruptcy protection with plans to close its chain of stores, little more than three years after reorganizing under a previous bankruptcy filing. (BIG) (Fri, 12 Dec 2008 15:51:16 GMT)

KB Toys gets approval of early bankruptcy motions
A bankruptcy judge on Friday granted KB Toys' requests to use its existing cash management system and continue paying its workers as it prepares for going-out-of-business sales. (Fri, 12 Dec 2008 21:35:43 GMT)

GM Bankruptcy Risk Triggers Jump in Cost of Default Protection
Dec. 12 (Bloomberg) -- The cost of protecting corporate bonds from default rose on concern that U.S. automakers General Motors Corp. and Chrysler LLC will have to file for bankruptcy. (Fri, 12 Dec 2008 23:27:41 GMT)

CDX Gas Defaults on Credit Agreement, Files for Bankruptcy
Dec. 13 (Bloomberg) -- Oil and gas exploration company CDX Gas LLC , saying it defaulted on its credit agreement, filed for bankruptcy protection in Texas. (Sat, 13 Dec 2008 06:15:14 GMT)

Malls owner refinances to stave off bankruptcy
General Growth Properties Inc., the second-largest U.S. mall owner, refinanced $814 million of mortgage loans and retired a $58 million bond to try to stave off bankruptcy. The shares rose as much as 73 percent. (Sat, 13 Dec 2008 08:22:47 GMT)

Mall owner General Growth Properties seeks loan extension to stave off bankruptcy
Troubled mall owner General Growth Properties, trying to stave off bankruptcy, said it is still trying to negotiate an extension on $900 million in debt that is due to be repaid Friday, but warned there can be ''no assurance'' it will get a reprieve. (Sat, 13 Dec 2008 08:25:14 GMT)

Investors optimistic General Growth can avoid bankruptcy
Troubled mall owner General Growth Properties Inc., trying to stave off a bankruptcy filing, said it is still trying to negotiate an extension on $900 million in debt that is due to be repaid Friday, but warned there can be "no assurance" it will get a reprieve. Investors, however, appeared optimistic that a bankruptcy filing would be avoided. Shares rose 36 cents, or 25 percent, to close at ... (Sat, 13 Dec 2008 10:11:41 GMT)

Agriprocessors bankruptcy case to be heard in Iowa
DES MOINES, Iowa -- The Chapter 11 bankruptcy case of a kosher meatpacking company is being moved from New York to Iowa, where its facility is located. A federal bankruptcy judge issued the order Friday, transferri (Sat, 13 Dec 2008 16:13:22 GMT)

Charter may face bankruptcy in 2009
Charter Communications Inc., the money-losing cable operator, will probably need to restructure its debt of more than $21 billion or file for bankruptcy next year, Moody's Investors Service said. Charter's bonds tumbled. (Sat, 13 Dec 2008 16:24:38 GMT)

GM Feels Bankruptcy Taint as Skittish Customers Avoid Dealers
Dec. 13 (Bloomberg) -- General Motors Corp. executives say they’ve resisted the bankruptcy option because customers would be scared off, anticipating the largest U.S. automaker will disappear for good. (Sat, 13 Dec 2008 16:58:12 GMT)

GM Feels Bankruptcy Taint as Skittish Customers Avoid Dealers
Dec. 13 (Bloomberg) -- General Motors Corp. executives say they’ve resisted the bankruptcy option because customers would be scared off, anticipating the largest U.S. automaker will disappear for good. (Sat, 13 Dec 2008 18:16:34 GMT)

KB Toys files bankruptcy
A Delaware judge has approved early bankruptcy for the Massachusetts based KB Toy Company. The company will continue paying its employees as it prepares for going out of business sales. (Sun, 14 Dec 2008 00:07:06 GMT)

Automakers' last resort: bankruptcy
A ''nuclear option'' is how one labor expert described the possibility of General Motors filing for bankruptcy. ''No one wants to see this get to that stage - not GM, not the unions and not the White House," said Harley Shaiken, a labor relations expert at the University of California, Berkley campus. (Sun, 14 Dec 2008 05:07:48 GMT)

On the Money: Declaring personal bankruptcy
While many people look for ways to trim household expenses during a deep economic downturn, some may turn to the debt management option of last resort: bankruptcy. Declaring personal bankruptcy, either through Chapter 13 (reorganization) or Chapter 7 (liquidation), is a serious matter that can affect a person’s credit standing for many years. Therefore, individuals considering the bankruptcy ... (Sun, 14 Dec 2008 05:15:24 GMT)

Bush Considers Ways To Avoid Big 3 Bankruptcy
The White House weighed its options Saturday for preventing a collapse of the troubled auto industry, once the backbone of the U.S. economy. So far, the only thing certain is that the Bush administration wants to avoid the possibility of a disorderly bankruptcy of any of the Big Three. (Sun, 14 Dec 2008 06:00:40 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, 14 Dec 2008 06:17:08 GMT)

Agriprocessors Bankruptcy Case To Be Heard In Iowa
DES MOINES, Iowa — A federal bankruptcy judge has ordered the Chapter 11 bankruptcy case of a kosher meatpacking company moved from New York to Iowa. (Sun, 14 Dec 2008 07:49:16 GMT)

Bankruptcy, Layoffs And Furlough Hit Some In State
I t was another dismal week for Connecticut businesses and their workers, as a growing roster of employers announced layoffs, unpaid furloughs and — in the case of The Courant's parent company — bankruptcy. (Sun, 14 Dec 2008 11:10:34 GMT)

Nortel explores bankruptcy, government aid scenarios: Reports
Nortel Networks Corp has sought legal advice to study a bankruptcy protection scenario in the event that its restructuring plan fails and has also been exploring potential assistance from the Canadian government, the Wall Street Journal reported. (Sun, 14 Dec 2008 12:45:56 GMT)

Auto Repossessions And Bankruptcy
One typical case that I often see is a Chapter 13 bankruptcy filing where the vehicle is repossessed pre-filing. In that case, the auto finance company is often willing to negotiate for the return of the vehicle in exchange for certain documentation. (Sun, 14 Dec 2008 13:18:16 GMT)

Chapter 11 bankruptcy unplugs NetVersant
NetVersant Solutions Inc., once a high-flying player in the wireless network infrastructure industry, has filed for Chapter 11 bankruptcy protection and is planning to sell off its assets to New York-based Patriarch Partners LLC, its largest lender. (Mon, 15 Dec 2008 05:57:32 GMT)

Yacht charter company files for bankruptcy
A company that runs river cruises, water taxis and charter services off the docks of Old Sacramento has filed for Chapter 11 bankruptcy protection in an attempt to reorganize operations. (Mon, 15 Dec 2008 06:43:45 GMT)

a21 Inc. bankruptcy tied to credit freeze
JACKSONVILLE — The frozen credit markets led at least one Jacksonville public company to file bankruptcy in early December. It’s the same unavailable financing from lenders that has restricted how area business can grow, acquire or merge, and get through bankruptcy, business experts said. (Mon, 15 Dec 2008 06:55:28 GMT)

Bankruptcy Not An Option...Is It?
November 21, 2008  Detroit’s Big Three automakers say if even one of them files for bankruptcy…it could put them out of business.  But one local bankruptcy expert says that doesn’t have to happen.  WDET’s Pat Batcheller reports.  Jim McTevia has been a federal bankruptcy court trustee for 30 years…and has helped several companies reorganize through Chapter 11.  He says that would be the best way ... (Mon, 15 Dec 2008 09:16:04 GMT)

U.S. auto company bankruptcy would hurt Japan's car industry, analysts say
TOKYO — Even as General Motors and the entire U.S. auto industry teeters on the edge of collapse, its major rivals are hardly celebrating. Toyota and other Japanese carmakers say the bankruptcy of any of Detroit's Big Three would spell serious trouble for them as well. (Mon, 15 Dec 2008 12:52:30 GMT)

GM Bankruptcy Advisor Has Its Hands Full
Weil, Gotshal & Manges is one of the few specialists qualified to handle such a huge case, if bankruptcy comes to pass (Mon, 15 Dec 2008 13:29:54 GMT)

W. Pa. hospital closes after filing for bankruptcy
A western Pennsylvania hospital is closed just four days after filing for bankruptcy protection. (Mon, 15 Dec 2008 14:51:00 GMT)

KB Toys Files For Bankruptcy
KB Toys has filed for bankruptcy for the second time in four years. (Mon, 15 Dec 2008 15:16:38 GMT)

Tew Cardenas Attorney Helps Close of Blue and Green Diamond Bankruptcy Case with All Creditors Receiving 100% Payments
MIAMI----Thomas Lehman, partner at Tew Cardenas LLP, today announced the closing of the Blue and Green Diamond condominium bankruptcy case, with all creditors receiving 100 percent payments for their claims. (Mon, 15 Dec 2008 16:17:00 GMT)

Bankruptcy filings rise 30% this year
Bankruptcy filings rose 30% during the government's 2008 fiscal year, which ended Sept. 30, according to figures released Monday by the Administrative Office of the U.S. Courts. (Mon, 15 Dec 2008 22:39:46 GMT)

Bankruptcy wouldn't stop shoppers from buying U.S. cars
Contrary to comments by auto brass and Congress, buyers wouldn't shun products from a U.S. automaker that filed for bankruptcy, according to a USA TODAY/Gallup Poll. (Tue, 16 Dec 2008 05:10:30 GMT)

U.S. May Give Car Czar Power to Force Bankruptcy, Levin Says
Dec. 16 (Bloomberg) -- The U.S. Treasury may adopt a plan that would let a car czar or the Treasury Secretary force General Motors Corp. and Chrysler LLC into bankruptcy if the automakers don’t show they can survive without government aid, a U.S. senator said. (Tue, 16 Dec 2008 06:54:18 GMT)

Chicago 'Sit-In' Factory Files for Bankruptcy
The Chicago factory where workers staged a sit-in after they were abruptly laid off has filed for bankruptcy. (Tue, 16 Dec 2008 07:40:21 GMT)

Colorado filings for bankruptcy accelerate
Bankruptcy filings across the country escalated in the third quarter as the recession claimed more casualties. (Tue, 16 Dec 2008 07:58:57 GMT)

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