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Home > Bankruptcy News

Bankruptcy News Jan 2009

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LyondellBasell Considers Bankruptcy as Takeover Sours (Update2)
Dec. 31 (Bloomberg) -- LyondellBasell Industries AF , the chemicals maker controlled by billionaire Len Blavatnik , is considering filing for bankruptcy as a way to restructure debt that financed its $12.7 billion merger a year ago. (Thu, 01 Jan 2009 01:41:56 GMT)

Lawyers ask $1,100 hourly for Tribune bankruptcy work
Lawyers at Sidley Austin are asking as much as $1,100 an hour for bankruptcy work on Tribune Co., surpassing the rates charged by Weil, Gotshal & Manges in the Lehman Brothers Holdings Inc. case, the largest in history. (Thu, 01 Jan 2009 07:51:43 GMT)

LyondellBasell May File for Bankruptcy After Takeover Sours
Jan. 1 (Bloomberg) -- LyondellBasell Industries AF , the chemicals maker controlled by billionaire Len Blavatnik , may file for bankruptcy as a way to restructure debt that financed its $12.7 billion merger a year ago. (Thu, 01 Jan 2009 09:28:36 GMT)

Sunwest affiliates file bankruptcy
Sunwest Management Inc's company founder and chief executive Jon Harder filed Chapter 11 bankruptcy on New Year's Eve, capping a tumultuous 2008 for the Salem-based senior-housing manager. (Thu, 01 Jan 2009 11:14:45 GMT)

Trustee Named in Dreier Firm's Bankruptcy Case
Former Assistant U.S. Attorney Sheila M. Gowan has been selected as the Chapter 11 bankruptcy trustee for the Dreier law firm. Currently a litigation partner at the boutique firm of Diamond McCarthy, Gowan has an hourly rate of $495, according to an affidavit. (Fri, 02 Jan 2009 08:03:18 GMT)

9 bankruptcy do's and don'ts in 2009
Columnist Justin Harelik offers 9 tips to a smooth filing for bankruptcy protection in 2009. (Fri, 02 Jan 2009 11:00:00 GMT)

Surviving a workplace bankruptcy
In a weakening economy, thousands of businesses are closing up shop and laying off employees. A company's impending bankruptcy can have devastating consequences for fearful employees, says Lisa Lane Brown, author of "The Courage to Win: A Revolutionary Mental Toughness Formula." (Fri, 02 Jan 2009 11:41:36 GMT)

Russian Fashion Designer Plastinina’s Company Files Bankruptcy
Jan. 2 (Bloomberg) -- KP Fashion Co., the company set up to sell clothes by 16-year-old Russian fashion designer Kira Plastinina , filed for bankruptcy after announcing last month it would close almost all of its 12 U.S. stores. (Fri, 02 Jan 2009 14:00:12 GMT)

Business of bankruptcy bustles in Wilmington, Del.
More than half of all large public company bankruptcies filed this year have been filed here, including those of media giant Tribune, Washington Mutual, Linens 'n Things, Sharper Image and Mervyns, a California-based department store chain. As of Dec. 11, Chapter 11 filings were more than four times greater than in 2007. (Fri, 02 Jan 2009 14:38:24 GMT)

Man Convicted In Fraud Files For Bankruptcy
A Hunt Valley man who pleaded guilty in a multimillion dollar fraud scheme has filed for bankruptcy. (Fri, 02 Jan 2009 14:39:14 GMT)

Teenage Russian Designer’s Company Files Bankruptcy (Update1)
Jan. 2 (Bloomberg) -- KP Fashion Co., the company set up to sell clothes by 16-year-old Russian fashion designer Kira Plastinina in the U.S., filed for bankruptcy after announcing last month it would close almost all of its 12 stores. (Fri, 02 Jan 2009 15:58:09 GMT)

Sunwest CEO files for personal bankruptcy protection
The founder and CEO of Sunwest Management has filed a personal bankruptcy petition in an effort to halt the collapse of his senior-housing empire. (Fri, 02 Jan 2009 16:21:55 GMT)

Alan Fabian lists $52M in debts in bankruptcy filing
Baltimore businessman Alan Fabian filed Chapter 7 bankruptcy this week, two months after being sentenced to nine years in prison for fraud and tax evasion. (Fri, 02 Jan 2009 16:47:38 GMT)

Teenage Russian Designer’s Company Files Bankruptcy (Update2)
Jan. 2 (Bloomberg) -- KP Fashion Co., the company set up to sell clothes by 16-year-old Russian fashion designer Kira Plastinina in the U.S., filed for bankruptcy seven months after opening its first store. (Fri, 02 Jan 2009 16:52:34 GMT)

Teenage Russian Designer’s Company Files Bankruptcy (Update2)
Jan. 2 (Bloomberg) -- KP Fashion Co., the company set up to sell clothes by 16-year-old Russian fashion designer Kira Plastinina in the U.S., filed for bankruptcy seven months after opening its first store. (Fri, 02 Jan 2009 17:15:21 GMT)

Teenage Russian Designer’s Company Files Bankruptcy (Update3)
Jan. 2 (Bloomberg) -- KP Fashion Co., the company set up by the father of 16-year-old Russian fashion designer Kira Plastinina to sell her clothes in the U.S., filed for bankruptcy seven months after opening its first store. (Fri, 02 Jan 2009 18:07:23 GMT)

Greeting-card firm seeks bankruptcy protection
Recycled Paper Greetings Inc., the third-largest U.S. greeting-card maker, sought bankruptcy protection today as part of a planned sale to larger rival American Greetings Corp. (Fri, 02 Jan 2009 18:42:59 GMT)

Recycled Paper Greetings Seeks Bankruptcy Protection (Update2)
Jan. 2 (Bloomberg) -- Recycled Paper Greetings Inc., the third-largest U.S. greeting-card maker, sought bankruptcy protection as part of a planned sale to larger rival American Greetings Corp. (Fri, 02 Jan 2009 22:15:21 GMT)

Chandler restaurant owner files for bankruptcy
Ron Wojcicki, the owner of three former Chandler restaurants, has filed for bankruptcy protection under Chapter 7. The filing halts a lawsuit recently filed against him by a former business partner. (Sat, 03 Jan 2009 00:32:34 GMT)

Hard Rock Park's owners seek Chapter 7 bankruptcy
COLUMBIA — After a failed bid to find a buyer for the shuttered Hard Rock Park, the owners of the Myrtle Beach attraction on Friday asked a federal bankruptcy judge for permission to liquidate their assets so creditors can be paid. Attorneys for Hard Rock Myrtle Beach Holdings LLC have asked a Delaware bankruptcy judge to allow them to convert the company's Chapter 11 bankruptcy filing to ... (Sat, 03 Jan 2009 06:29:22 GMT)

Chesterfield-based Broadstripe files for bankruptcy
Chesterfield-based cable provider Broadstripe LLC filed for bankruptcy protection Friday. Broadstripe provides service in several states, though not in Missouri or Illinois. In its bankruptcy papers, filed in Delaware, the company listed assets and debts each between $100 million and $500 million. (Sat, 03 Jan 2009 06:59:54 GMT)

Greeting-card company seeks bankruptcy protection
Chicago Recycled Paper Greetings, the third-largest U.S. greeting-card maker, sought bankruptcy protection as part of a planned sale to larger rival American Greetings Corp. (Sat, 03 Jan 2009 07:06:21 GMT)

Sunwest CEO files for personal bankruptcy
SALEM (AP) — The founder and CEO of Sunwest Management has filed a personal bankruptcy in an effort to halt the collapse of his senior-housing empire. (Sat, 03 Jan 2009 14:13:03 GMT)

Eagle’s Rest Development files for bankruptcy
Commercial developer Scott LaFavre’s company Eagle’s Rest Development declared bankruptcy last month in U.S. Bankruptcy Court in St. Paul. (Sun, 04 Jan 2009 00:55:08 GMT)

Pilgrim's Pride under bankruptcy reorganization
In a span of less than two years, Pittsburg-based Pilgrim's Pride rose to become the nation's largest chicken seller only to plunge into bankruptcy reorganization in December. (Sun, 04 Jan 2009 04:05:11 GMT)

VeraSun Energy receives final bankruptcy court approval for debtor-in-possession financing totaling $196.6 million ...
VeraSun Energy Corporation announced that the U.S. Bankruptcy Court has entered orders granting final approval for debtor-in-possession financing totaling $196.6 million, including $93.6 million of incremental financing, $25 million of which was previously loaned to the Company on an interim basis, to be provided by certain holders of VeraSun's 9 7/8 percent senior secured notes due 2012. The ... (Sun, 04 Jan 2009 06:24:02 GMT)

Attorneys: Bankruptcy on rise
As the recession continues to plague bank accounts nationwide, local attorneys said bankruptcy filings increased in 2008. (Sun, 04 Jan 2009 06:44:49 GMT)

Bankruptcy cases keep the lawyers busy in Delaware
In their long topcoats and dark suits, the men and women bustling down Wilmington, Del.'s main street might be mistaken for funeral directors. But they're actually lawyers handling the burial of businesses: bankruptcies. (Sun, 04 Jan 2009 08:33:10 GMT)

Trustee overseeing Madoff bankruptcy seeks broad authority
Irving Picard has made an urgent request to the court that named him trustee for unusually broad powers to subpoena witnesses and documents, citing the vast scale of the funds involved (Sun, 04 Jan 2009 12:29:42 GMT)

Chemical giant mulls bankruptcy
Chemical giant LyondellBasell Industries, www.lyondellbasell.com , Wednesday confirmed it might consider filing for Chapter 11 bankruptcy protection. An Associated Press story reported the comment from a company official. (Sun, 04 Jan 2009 15:50:49 GMT)

LyondellBasell May Seek Chapter 11 Bankruptcy Protection
LyondellBasell Industries , a chemicals maker controlled by the investor Len Blavatnik, may file for bankruptcy as a way to restructure debt that financed its $12.7 billion merger a year ago. (Mon, 05 Jan 2009 11:57:37 GMT)

250-year-old company enters bankruptcy
LONDON, Jan. 5 (UPI) -- Waterford Wedgwood, maker of Waterford Crystal, says it has gone into administration (bankruptcy) in Britain after missing a deadline with lenders. (Mon, 05 Jan 2009 13:09:00 GMT)

Waterford Wedgwood files for bankruptcy
Fine china and glasswork maker Waterford Wedgwood PLC has called in a receiver - the British equivalent of bankruptcy. (Mon, 05 Jan 2009 13:24:46 GMT)

Waterford seeks bankruptcy protection
Waterford Wedgwood PLC, for centuries a name synonymous with luxury,  filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed. (Mon, 05 Jan 2009 13:31:35 GMT)

Crystal, china maker Waterford Wedgwood files for bankruptcy
LONDON (AP) -- Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed. (Mon, 05 Jan 2009 14:13:54 GMT)

Mobile Software Firm UIQ Files For Bankruptcy
Mobile software developer UIQ has filed for bankruptcy in a district court in Sweden, the company said today. The move has been expected for some time now, following the decision of the company's co-owners Sony Ericsson and Motorola to merge its software with the Symbian platform, following Nokia's acquisition of the mobile operating system. (Mon, 05 Jan 2009 14:36:36 GMT)

Glens Falls plumbing company files for bankruptcy after dispute with former executive
Jack Hall Plumbing and Heating Inc. in Glens Falls filed for bankruptcy protection after a former company official won a nearly $230,000 court judgement against the business. (Mon, 05 Jan 2009 14:52:27 GMT)

Mobile UI developer files for bankruptcy
Mobile phone user interface specialist UIQ Technology, which most recently has been owned by Motorola and Sony Ericsson, has filed for bankruptcy in a district court in Sweden. (Mon, 05 Jan 2009 15:21:25 GMT)

Firms Get Ready for Wave of Bankruptcy Filings
Weil, Gotshal & Manges; Sidley Austin; Kirkland & Ellis; Skadden, Arps, Slate, Meagher & Flom; and other law firms are all gearing up to represent companies in a slew of bankruptcies during the next two years. A steady rise in corporate bankruptcy filings throughout 2008 is expected to crescendo in 2009 and 2010, with collapses spreading from the retail, auto-related, real estate and financial ... (Mon, 05 Jan 2009 15:57:02 GMT)

LyondellBasell May File for Bankruptcy, Societe Generale Says
Jan. 5 (Bloomberg) -- LyondellBasell Industries AF , the chemicals maker controlled by billionaire Len Blavatnik , may file for bankruptcy protection in the next week or two, according to Societe Generale SA. (Mon, 05 Jan 2009 16:11:52 GMT)

Lawmakers set new mortgage bankruptcy bill
WASHINGTON (Reuters) - Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year. (Tue, 06 Jan 2009 00:35:37 GMT)

Personal bankruptcy up 33 percent in '08
U.S. consumer bankruptcy filings jumped 33 percent in 2008 amid a recession that's expected to keep filings rising into the new year. (Tue, 06 Jan 2009 07:39:44 GMT)

Iconic Waterford Wedgwood files for bankruptcy
Waterford Wedgwood, maker of classic china and crystal, filed for bankruptcy protection Monday after attempts to restructure the struggling business or find a buyer failed. Four administrators from business advisory firm De loitte were appointed to run the company's businesses in Britain and Northern Ireland, while a Deloitte partner in the Irish Republic was appointed as receiver. ... (Tue, 06 Jan 2009 07:41:46 GMT)

Working with a trustee in bankruptcy
In Chapter 7, you must disclose all payments to creditors and family members to the trustee, says the Bankruptcy Adviser. (Tue, 06 Jan 2009 11:00:00 GMT)

Iceland bank to sue UK over bankruptcy
Iceland's state-run Kaupthing bank will sue the British government for forcing the bank's subsidiary into a form of bankruptcy, Icelandic officials said. (Tue, 06 Jan 2009 12:15:26 GMT)

Vick revises bankruptcy plan on hopeful NFL return
Michael Vick would have to keep a court official informed about his attempts to be reinstated by the NFL after his release from prison, under a revised bankruptcy plan proposed by his lawyers. (Tue, 06 Jan 2009 14:08:57 GMT)

Glitnir, Failed Icelandic Bank, Wins U.S. Bankruptcy Protection
Jan. 6 (Bloomberg) -- Glitnir Bank hf , the 104-year-old Icelandic bank taken over by the country’s financial regulators, won U.S. bankruptcy protection while it reorganizes its main business in Reykjavik. (Tue, 06 Jan 2009 16:15:35 GMT)

Tribune files for bankruptcy protection (Business Times
NEW YORK: The publisher of the Chicago Tribune and the Los Angeles Times declared bankruptcy on Monday as the US newspaper industry’s unrelenting loss of readers and advertisers claimed its biggest victim yet. (Tue, 06 Jan 2009 16:16:46 GMT)

Korea’s MagnaChip May File for Bankruptcy After Missing Payment
Jan. 6 (Bloomberg) -- MagnaChip Semiconductor LLC , the South Korean chipmaker, is likely to file for bankruptcy, according to KDP Investment Advisors Inc. (Tue, 06 Jan 2009 16:42:24 GMT)

Iceland’s Glitnir Wins U.S. Bankruptcy Protection (Update1)
Jan. 6 (Bloomberg) -- Glitnir Bank hf , the 104-year-old Icelandic bank taken over by financial regulators, won U.S. bankruptcy protection, shielding it from lawsuits while it reorganizes in Reykjavik. (Tue, 06 Jan 2009 16:45:38 GMT)

Lyondell Files for Bankruptcy
The American operations of LyondellBasell , the giant chemical maker, filed for bankruptcy on Tuesday as it struggled with dropping demand and a heavy debt burden. (Tue, 06 Jan 2009 22:57:17 GMT)

LyondellBasell units file for bankruptcy
The U.S. arm of chemical giant LyondellBasell Industries has filed for bankruptcy as the recession continues to weaken demand for its products, which are used in everything from cars to detergents. (Wed, 07 Jan 2009 00:18:08 GMT)

Chemical Maker Files Bankruptcy
The U.S. operations of LyondellBasell, the petrochemical company, filed for bankruptcy protection in New York on Tuesday, facing a huge debt load and slumping demand for its products. (Wed, 07 Jan 2009 01:30:47 GMT)

LyondellBasell U.S. units file for bankruptcy
The U.S. operations of LyondellBasell, the world's third-largest petrochemical company, filed for bankruptcy protection under the weight of a massive debt load and slumping demand for its products. (Wed, 07 Jan 2009 05:43:25 GMT)

Lyondell Chemical Blames Falling Demand for Bankruptcy Filing
Jan. 7 (Bloomberg) -- LyondellBasell Industries AF SCA’s Lyondell Chemical unit and some other U.S. affiliates, citing waning demand for their products, filed for bankruptcy in New York. (Wed, 07 Jan 2009 08:31:50 GMT)

Timeline of bankruptcy filings by European retailers
Timline of bankruptcy filings by European retailers. (Wed, 07 Jan 2009 11:43:52 GMT)

Lyondell Chemical Cites Falling Demand for Bankruptcy (Update1)
Jan. 7 (Bloomberg) -- Lyondell Chemical filed for bankruptcy protection citing waning demand for its products and asked for court approval of an $8 billion loan to help fund operations while it reorganizes. (Wed, 07 Jan 2009 14:08:11 GMT)

State looking into NH dog track bankruptcy
The New Hampshire agency that oversees the state's race tracks wants to know if the Hinsdale Greyhound Park broke any laws when it declared bankruptcy last month. (Wed, 07 Jan 2009 14:14:30 GMT)

Former Roanoke City Councilman Alfred Dowe files for bankruptcy
Court records show Dowe filed for Chapter 7 bankruptcy (Wed, 07 Jan 2009 15:27:17 GMT)

Bankruptcy one option for carmakers: US (Business Times
WASHINGTON: Bankruptcy is one of the options being considered by the US administration for ailing US automakers, the White House said yesterday, adding a decision on what to do was close. (Wed, 07 Jan 2009 15:45:35 GMT)

Viyella latest UK icon to file for bankruptcy
Clothing store Viyella became the latest long-standing British retailer to succumb to dire retailing conditions and file for bankruptcy protection on Wednesday. (Wed, 07 Jan 2009 17:21:15 GMT)

Lyondell Can Borrow $2 Billion, Bankruptcy Court Says (Update1)
Jan. 8 (Bloomberg) -- Lyondell Chemical Co., which ran out of cash, won bankruptcy court permission to borrow $2.2 billion along with a “super emergency” $100 million loan to prevent it from liquidating. (Thu, 08 Jan 2009 06:43:05 GMT)

Bankruptcy study offers hope
Bankruptcy reorganization can rehabilitate companies with good operations and bad balance sheets but offer little salvation to those with broken business models, according to a soon-to-be released study of 500 corporate bankruptcies. (Thu, 08 Jan 2009 07:05:10 GMT)

Lyondell Can Borrow $2 Billion, Bankruptcy Court Says (Update2)
Jan. 8 (Bloomberg) -- Lyondell Chemical Co., which ran out of cash yesterday, won bankruptcy court permission to borrow about $2 billion along with a “super emergency” $100 million loan to prevent it from liquidating. (Thu, 08 Jan 2009 07:15:16 GMT)

2nd Circuit Sets 'High Hurdle' to Alter Fees in Bankruptcy
A federal appellate court has established a "high hurdle" for bankruptcy clients who seek to alter court-approved fees for professionals who have worked on a contingency basis. In a case involving the rare instance of attorney fees, the 2nd U.S. (Thu, 08 Jan 2009 08:02:39 GMT)

Lyondell gets over $2 billion in bankruptcy financing
NEW YORK (Reuters) - Lyondell Chemical Co received bankruptcy court approval on Wednesday to access more than $2 billion in interim debtor-in-possession financing and an emergency $100 million loan, saying it had run out of cash. (Thu, 08 Jan 2009 09:50:57 GMT)

Lyondell Gets $2 Billion In Bankruptcy Financing
A bankruptcy court gave Lyondell Chemical the green light to access more than $2 billion in interim debtor-in-possession financing and an emergency $100 million loan from a group of private equity firms and Wall Street banks. (Thu, 08 Jan 2009 11:42:47 GMT)

Paul Gascoigne avoids bankruptcy
Troubled former football star Paul Gascoigne avoids a bankruptcy hearing by settling a tax bill. (Thu, 08 Jan 2009 13:32:00 GMT)

Report: Citigroup working with Congress to allow bankruptcy judges to modify mortgages
Citigroup Inc. is working with senators to hammer out legislation that would allow bankruptcy judges to modify individual mortgages, potentially (Thu, 08 Jan 2009 13:54:21 GMT)

PVWMA says bankruptcy would give time to solve woes
Bankruptcy would give the Pajaro Valley Water Management Agency "breathing room" and force creditors to negotiate a solution to the agency's fiscal woes, a lawyer said Wednesday. (Thu, 08 Jan 2009 14:40:58 GMT)

Citi mulls endorsing bankruptcy reform: sources
Citigroup Inc could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said on Thursday, while industry groups are easing their opposition to the plan. (Thu, 08 Jan 2009 19:56:50 GMT)

Citi backs mortgage bankruptcy reform: Senators
Financial giant Citigroup Inc has agreed to support a controversial rewrite of U.S. bankruptcy law aimed at helping troubled mortgage borrowers, three Democratic senators said on Thursday. (Thu, 08 Jan 2009 20:34:14 GMT)

Citi backs Senate mortgage bankruptcy reform: senators
Financial giant Citigroup Inc has agreed to support a controversial rewrite of U.S. bankruptcy law aimed at helping troubled mortgage borrowers avoid foreclosure, lawmakers said on Thursday. (Thu, 08 Jan 2009 22:32:15 GMT)

Gascoigne avoids bankruptcy hearing
LONDON -Troubled former England star Paul Gascoigne has avoided a bankruptcy hearing by settling his differences with the British tax authority. (Fri, 09 Jan 2009 00:31:00 GMT)

Citi backs mortgage bankruptcy reform: senators
Financial giant Citigroup Inc has agreed to support a rewrite of bankruptcy law being proposed in the U.S. Congress to help troubled mortgage borrowers avoid foreclosure, lawmakers said on Thursday. (Fri, 09 Jan 2009 00:37:52 GMT)

Boost for bankruptcy bill as Citi backs
The long embattled bankruptcy “cramdown” bill just took a major leap toward reality. (Fri, 09 Jan 2009 02:18:00 GMT)

South Korea automaker files for bankruptcy
Ssangyong Motor Co., South Korea's fifth largest automaker, filed for bankruptcy Friday, citing the company's worsening finances. (Fri, 09 Jan 2009 07:49:52 GMT)

Icahn says bankruptcy reform could help banks
Activist investor Carl Icahn called for changes in federal bankruptcy laws which he argues are thwarting the private investment which is more appropriate than public funds for reviving the banking system. (Fri, 09 Jan 2009 08:34:01 GMT)

Citigroup, Senators Agree on Bankruptcy Role to Trim Loan Rates
Jan. 9 (Bloomberg) -- Citigroup Inc.’s agreement to back legislation that lets bankruptcy judges cut mortgage rates for at-risk borrowers drew criticism from bank industry lobbyists who said the compromise with Senate Democrats was flawed. (Fri, 09 Jan 2009 10:31:52 GMT)

Icahn Says Bankruptcy Laws Hobble Private Investment
Activist investor Carl C. Icahn called for changes in federal bankruptcy laws, which he argues are thwarting private investment in the banking system. (Fri, 09 Jan 2009 12:27:57 GMT)

New Orleans DA backs off bankruptcy idea
New Orleans' district attorney is backing off the idea of his office filing for bankruptcy. (Fri, 09 Jan 2009 17:59:57 GMT)

Equal maker Merisant seeks bankruptcy protection
Merisant Worldwide Co., the maker of Equal and other sweeteners, filed for Chapter 11 bankruptcy protection on Friday. The Chicago-based company, whose subsidiaries include Equal maker Merisant Co., entered bankruptcy protection with assets of $331.1 million and total debt of $560.7 million, according to filings in U.S. (Fri, 09 Jan 2009 20:45:52 GMT)

Banks May Reluctantly Back Bankruptcy Bill
The banking industry is skeptical of lawmakers' efforts to allow bankruptcy courts to modify terms of residential mortgages, but want to help shape the plan. (Fri, 09 Jan 2009 22:51:07 GMT)

Maker of Equal Sweetener Files for Bankruptcy
Merisant Worldwide filed for Chapter 11 bankruptcy protection, weighed down by increased competition and too much debt. (Sat, 10 Jan 2009 03:02:06 GMT)

Citigroup shift on Senate bankruptcy bill may aid homeowners
It's a notion long proposed to help stop foreclosures in areas like Sacramento: Let bankruptcy judges rewrite mortgages to reflect today's home values. But lenders have always objected. Now, one of the nation's biggest banks is on board. "A watershed moment," said Paul Leonard, California director of the Center for Responsible Lending. An abrupt change of heart Thursday by Citigroup ... (Sat, 10 Jan 2009 08:02:56 GMT)

Germany's Rosenthal files for bankruptcy
German porcelain maker Rosenthal AG says it has declared bankruptcy. This comes just four days after its Anglo-Irish parent Waterford Wedgwood announced insolvency. (Sat, 10 Jan 2009 11:36:26 GMT)

LyondellBasell files for bankruptcy
LyondellBasell, one of the North Channel area’s leading employers, has filed for Chapter 11 bankruptcy in an effort to restructure its debt, according to Susan Moore, a company spokesman. (Sat, 10 Jan 2009 12:50:32 GMT)

Equal's maker files for bankruptcy
Chicago-based Merisant Worldwide Inc., maker of the artificial sweetener Equal, filed for Chapter 11 bankruptcy protection Friday, hobbled by the global credit crisis and sliding sales. (Sat, 10 Jan 2009 14:53:24 GMT)

Study Finds Bankruptcy Process Works, Weeds out Weak
A University of Utah study indicates the U.S. bankruptcy system has a silver lining: it works. The study found 80 percent of fundamentally sound firms emerge with most of their assets, compared with 37 percent of firms with bad business models. The study suggests Chapter 11 bankruptcy reorganization may be better for U.S. automakers than a federal bailout. (Sat, 10 Jan 2009 16:23:50 GMT)

Bankruptcy filings make for rising tide
A bad year in bankruptcy courts ended with a December bang. And this year is expected to bring an explosion of new filings. (Sat, 10 Jan 2009 23:47:20 GMT)

A mounting bankruptcy mess
Bankruptcy used to mean a fighting chance at saving a business. But for many companies of late, it's been a dead end. (Sat, 10 Jan 2009 23:47:29 GMT)

Tribune bankruptcy delays Cubs sale
The naming of a lead bidder for the auction of the Chicago Cubs baseball team will likely be delayed until the middle of next week as the bankruptcy of Tribune, team owner and publisher of the Los Angeles Times, has made the process more difficult, according to people briefed on the discussions. (Sun, 11 Jan 2009 01:18:49 GMT)

Bankruptcy numbers hit high: figures
Removing tax burdens on small business will help protect more people from sliding into bankruptcy, the federal opposition says. (Sun, 11 Jan 2009 03:24:11 GMT)

Chattanooga: Bankruptcy court to remain in historic Customs House
With plans for a new Chattanooga federal courthouse on hold, the U.S. Bankruptcy Court plans to remain in one of the most historic downtown buildings through at least 2024, the building owner said. (Sun, 11 Jan 2009 05:09:21 GMT)

Past bankruptcy leads to financing questions
Past bankruptcy leads to financing questions Q:Three years ago, I had to file for bankruptcy. Since then, I’ve had a very good track record. I have no debts. I have paid rent faithfully. My credit rating has risen to about 675. I have found a condo in an area where two units have sold for approximately $110,000. The unit I am looking at is listed for $69,900, because it needs some work. I wonder ... (Sun, 11 Jan 2009 05:12:51 GMT)

LyondellBasell files for bankruptcy
LyondellBasell, one of the North Channel area’s leading employers, has filed for Chapter 11 bankruptcy in an effort to restructure its debt, according to Susan Moore, a company spokesman. (Sun, 11 Jan 2009 06:43:52 GMT)

If you're overwhelmed by debt, bankruptcy may be your best bet
If mounting credit-card bills are threatening to pull you under, you may be considering bankruptcy as a way to hit the restart button. (Sun, 11 Jan 2009 12:37:17 GMT)

Tronox, a Chemical Maker, Is Set to File for Bankruptcy
Tronox is ready to become the latest chemical maker to file for bankruptcy, as the Oklahoma-based company is set to seek Chapter 11 protection as soon as Sunday night, a person briefed on the matter told DealBook. (Sun, 11 Jan 2009 22:57:17 GMT)

Tronox, Maker of Whitening Pigment, Seeks Bankruptcy (Update2)
Jan. 12 (Bloomberg) -- Tronox Inc., the world’s third-largest maker of titanium dioxide, a whitening pigment used in paper, paint and plastics, filed for U.S. bankruptcy protection. (Mon, 12 Jan 2009 09:30:25 GMT)

Tronox Announces Chapter 11 Bankruptcy Filing for U.S. Ops. - Update
(RTTNews) - Confirming media speculations, titanium dioxide pigment maker Tronox Inc. (TROXA.PK, TROXB.PK) Monday announced Chapter 11 bankruptcy filing for its U.S. operations, seeking a relief from legacy liabilities incurred following its spin-off into an independent entity from parent, former Kerr McGee Corp. (KMG), early in 2006. The company also noted that it has a financing commitment of ... (Mon, 12 Jan 2009 10:38:23 GMT)

Tronox files for Chapter 11 bankruptcy protection
Tronox Inc. said Monday it filed for Chapter 11 bankruptcy protection as it looks to reorganize its operations and alleviate legacy liabilities. (Mon, 12 Jan 2009 12:44:08 GMT)

Exxaro JV partner files for bankruptcy protection
* Exxaro says bankruptcy filing will not affect venture (Mon, 12 Jan 2009 14:56:18 GMT)

Sofa retailer Land of Leather files for bankruptcy protection after failure to raise capital
LONDON - Sofa retailer Land of Leather filed for bankruptcy protection on Monday, becoming the latest British retailer to succumb to a downturn in consumer spending amid the global economic slowdown. (Mon, 12 Jan 2009 15:16:19 GMT)

NM attorney general proposes bankruptcy reform (7:59 a.m.)
NM attorney general proposes bankruptcy reform (7:59 a.m.) (Mon, 12 Jan 2009 15:16:21 GMT)

Tarragon Corp. files Chapter 11 bankruptcy
Residential real estate developer Tarragon Corp. said Monday that it and some of its subsidiaries have filed for Chapter 11 bankruptcy protection because of financial losses caused by falling prices and slower sales in its home building division. (Mon, 12 Jan 2009 16:09:19 GMT)

NM attorney general proposes bankruptcy reform
SANTA FE, N.M. (AP) - New Mexico Attorney General Gary King is urging Congress to change the U.S. Bankruptcy Code to allow homeowners facing foreclosure to stay in their homes. (Mon, 12 Jan 2009 16:40:25 GMT)

Tronox, Maker of Whitening Pigment, Seeks Bankruptcy (Update3)
Jan. 12 (Bloomberg) -- Tronox Inc. , the world’s third- largest maker of the whitening pigment titanium dioxide, filed for bankruptcy, citing environmental cleanup and litigation costs inherited from Kerr-McGee Corp. (Mon, 12 Jan 2009 16:45:13 GMT)

Twinkie-maker still in bankruptcy limbo
Interstate Bakeries Corp. has not nailed down financing necessary for the company to exit bankruptcy more than a month after getting a judge's approval. (Mon, 12 Jan 2009 23:01:00 GMT)

Shane Co. jewelry store files for bankruptcy
Now, you have a friend in bankruptcy court. Shane Co., the jewelry retailer that operates four stores in metro Atlanta, has filed for Chapter 11 bankruptcy protection, saying the business suffered a disappointing holiday season. (Tue, 13 Jan 2009 09:46:44 GMT)

Deciding whether to file bankruptcy
When you're free of an upside-down mortgage but still shackled by debt, bankruptcy isn't always the answer, says the Bankruptcy Adviser. (Tue, 13 Jan 2009 11:00:00 GMT)

Shane Co. jewelry store files for bankruptcy
Colorado-based jewelry store retailer Shane Co., has filed for Chapter 11 bankruptcy protection, saying the business suffered a disappointing holiday season. (Tue, 13 Jan 2009 13:02:51 GMT)

Bankruptcy Bill Pact Pits Citi vs. Banks
Despite Sen. Charles Schumer's confident prediction last week that an agreement with Citigroup Inc. on mortgage bankruptcy legislation would bring other banking companies on board, industry sources said Friday that they would press for a narrower bill. (Tue, 13 Jan 2009 16:01:32 GMT)

State Bankruptcy Fears May Be Overstated
Is your state about to go bankrupt? Given the cries of "Bankruptcy!" and "Fiscal Armageddon!" echoing through state houses and editorial pages from California and Arizona to Illinois and Alabama, you might just think so. (Tue, 13 Jan 2009 16:02:17 GMT)

Bankruptcy filings surged in 2008
Bankruptcy filings among publicly traded companies surged 74 percent in 2008, according to data from BankruptcyData.com, a division of New Generation Research Inc. (Tue, 13 Jan 2009 16:08:18 GMT)

Wagoner: Bankruptcy filing still possible
Despite receiving billions in federal loans designed to prevent the automaker from failing, General Motors Corp.'s chief executive said a bankruptcy protection filing could still be possible, according to reports. (Tue, 13 Jan 2009 16:17:39 GMT)

Shane Co. jewelry store files for bankruptcy
Colorado-based jewelry store retailer Shane Co., has filed for Chapter 11 bankruptcy protection, saying the business had a disappointing holiday season. (Tue, 13 Jan 2009 16:35:44 GMT)

U.S. bankruptcy filings surge in 2008
BOSTON — Bankruptcy filings among publicly traded U.S. companies surged 74 per cent in 2008, according to data from BankruptcyData.com, a division of New Generation Research Inc. (Tue, 13 Jan 2009 16:35:52 GMT)

Lehman hopes for bankruptcy exit within 2 years
Lehman Brothers Holdings Inc said on Wednesday it hoped to exit bankruptcy protection in the next 18 to 24 months, but the judge overseeing the case warned that more international coordination would be necessary to meet that goal. (Wed, 14 Jan 2009 21:48:11 GMT)

Nortel Networks files for bankruptcy protection
Nortel Networks, North America's biggest maker of telephone equipment, filed for bankruptcy protection Wednesday, a day before it was due to make an interest payment of about $107 million. (Wed, 14 Jan 2009 23:09:48 GMT)

Nortel files for bankruptcy, shares plunge
Nortel Networks Corp, North America's biggest telephone equipment maker, filed for bankruptcy on Wednesday, hoping to save a once highflying business whose decade-long decline has accelerated with the global economic crisis. (Thu, 15 Jan 2009 00:34:01 GMT)

Lehman Hopes For Bankruptcy Exit Within 2 Years
Lehman Brothers said on Wednesday it hoped to exit bankruptcy protection in the next 18 to 24 months, but the judge overseeing the case warned that more international coordination would be necessary to meet that goal. (Thu, 15 Jan 2009 11:57:37 GMT)

Smurfit-Stone preparing for bankruptcy
Speculation swirled for a second day Thursday that debt-heavy Chicago packaging producer Smurfit-Stone Container Corp. may file for Chapter 11 bankruptcy protection very soon. (Thu, 15 Jan 2009 14:58:50 GMT)

Black Angus Steakhouse Operator Files Bankruptcy (Update1)
Jan. 15 (Bloomberg) -- ARG Enterprises Inc., which operates 69 Black Angus Steakhouse restaurants in seven states in the western U.S., filed for bankruptcy protection, citing declining profits due to the economic slowdown in the U.S. (Thu, 15 Jan 2009 16:04:27 GMT)

Report: Smurfit-Stone considers bankruptcy
Smurfit-Stone has hired bankruptcy counsel and financial advisers to line up about $750 million in debtor-in-possession financing, unnamed sources told The Wall Street Journal. (Thu, 15 Jan 2009 16:04:44 GMT)

Smurfit-Stone shares plunge; bankruptcy ahead?
Shares of Smurfit-Stone Container Corp. plunged the most ever in Nasdaq trading this morning on speculation that North America’s second-largest maker of corrugated packaging may file for bankruptcy amid falling demand and upcoming debt repayments. (Thu, 15 Jan 2009 16:08:10 GMT)

Black Angus Steakhouse Operator Files Bankruptcy (Update2)
Jan. 15 (Bloomberg) -- ARG Enterprises Inc., the operator of 69 Black Angus Steakhouse restaurants in seven states in the western U.S., sought bankruptcy protection and said it is seeking a buyer. (Thu, 15 Jan 2009 16:34:11 GMT)

Smurfit-Stone Plunges on Expectations of Bankruptcy Filing
Jan. 15 (Bloomberg) -- Smurfit-Stone Container Corp. plunged the most ever in Nasdaq trading on speculation North America’s second-largest maker of corrugated packaging may file for bankruptcy amid falling demand and upcoming debt repayments. (Thu, 15 Jan 2009 16:43:33 GMT)

Minneapolis Star Tribune files for bankruptcy
The Minneapolis Star Tribune, the 15th-largest daily U.S. paper based on circulation, filed for bankruptcy on Thursday, one of the biggest U.S. newspapers yet to financially flame out under a heavy debt load and a punishing decline in advertising revenue. (Fri, 16 Jan 2009 05:02:15 GMT)

Bankruptcy judge OKs Tribune's short-term financing plan
The L.A. Times owner also is granted more time to file schedules of assets and liabilities and other statements. Tribune Co. passed an early hurdle in its Chapter 11 bankruptcy case Thursday when a U.S. bankruptcy judge signed a motion authorizing the continuation of a short-term financing arrangement worth $300 million. (Fri, 16 Jan 2009 06:54:35 GMT)

Minneapolis Star Tribune in bankruptcy filing
The Minneapolis Star Tribune filed for bankruptcy, becoming one of the biggest U.S. newspapers yet to financially flame out under a heavy debt load and a punishing decline in advertising revenue. (Fri, 16 Jan 2009 08:01:50 GMT)

Delaware bankruptcy court restricts Nortel trading
The U.S. Bankruptcy Court for the District of Delaware ordered trading restrictions on shares of Nortel Networks Corp., the Canadian telecommunications equipment maker said Friday. (Fri, 16 Jan 2009 12:43:49 GMT)

Bankruptcy judge approves financing extension for Tribune Co.
WILMINGTON, Del. — Tribune Co. passed an early hurdle in its Chapter 11 bankruptcy case Thursday when a U.S. bankruptcy judge signed a motion authorizing the continuation of a short-term financing facility worth $300 million. (Fri, 16 Jan 2009 13:44:10 GMT)

Smurfit-Stone bankruptcy fears grow
Smurfit-Stone Container Corp.'s already-battered shares plunged further Thursday as investor fears deepened that a cash crunch may prompt the Chicago-based packaging company to seek bankruptcy protection. (Fri, 16 Jan 2009 13:44:20 GMT)

Star Tribune files for Chapter 11 bankruptcy
The Star Tribune filed for Chapter 11 bankruptcy protection Thursday night. (Fri, 16 Jan 2009 15:08:01 GMT)

Minneapolis' Star Tribune files for bankruptcy
MINNEAPOLIS – Less than two years after it was bought by a private equity group, the Star Tribune has filed for reorganization under Chapter 11 bankruptcy. (Fri, 16 Jan 2009 15:09:29 GMT)

Star Tribune Files for Bankruptcy After Ads Decline (Update2)
Jan. 16 (Bloomberg) -- The Minneapolis Star Tribune sought bankruptcy protection amid falling newspaper advertising sales, less than two years after being bought by private-equity firm Avista Capital Partners. (Fri, 16 Jan 2009 15:43:50 GMT)

Minneapolis Star Tribune files for Chapter 11 bankruptcy
The Minneapolis Star Tribune, Minnesota’s largest newspaper, files for Chapter 11 bankruptcy protection after missing several payments due its creditors. (Fri, 16 Jan 2009 16:44:12 GMT)

Minneapolis Star Tribune in bankruptcy filing
The Minneapolis Star Tribune has filed for bankruptcy, becoming the latest newspaper to financially flame out under a heavy debt load and a punishing decline in advertising revenue. (Fri, 16 Jan 2009 17:28:02 GMT)

Bankruptcy for another U.S. paper
The bad news in the newspaper business continues to mount, with The Star Tribune of Minneapolis having filed for bankruptcy protection. (Fri, 16 Jan 2009 18:07:08 GMT)

Retailers who have filed for bankruptcy protection
The fallout from the miserable holiday season is in full swing, and experts expect even more retailers to file for bankruptcy or just liquidate in coming months as consumers keep tight control of their spending because of job worries and dwindling retirement accounts. (Fri, 16 Jan 2009 20:12:01 GMT)

Bankruptcy judge unplugs Circuit City
RICHMOND, Va., Jan. 16 (UPI) -- A U.S. bankruptcy court judge turned Circuit City Stores Inc. over to four firms to run its liquidation sale, closing its 567 stores to pay creditors. (Fri, 16 Jan 2009 21:24:08 GMT)

Charter Said to Hire Advisers for Possible Bankruptcy Filing
Jan. 16 (Bloomberg) -- Charter Communications Inc., billionaire Paul Allen ’s money-losing cable-television company, hired law firm Kirkland & Ellis LLP and investment bank Lazard Ltd. to advise on a possible bankruptcy, according to people familiar with the matter. (Fri, 16 Jan 2009 23:31:38 GMT)

Charter Said to Hire Advisers for Possible Bankruptcy Filing
Jan. 17 (Bloomberg) -- Charter Communications Inc., billionaire Paul Allen ’s money-losing cable-television company, hired law firm Kirkland & Ellis and investment bank Lazard Ltd. to advise on a possible bankruptcy, according to people familiar with the matter. (Sat, 17 Jan 2009 06:13:08 GMT)

Meadowlands, two boroughs join fight to dismiss EnCap's bankruptcy plans
The New Jersey Meadowlands Commission and the boroughs of Rutherford and North Arlington joined the list of entities Friday asking a judge to dismiss as inadequate the Chapter 11 bankruptcy reorganization plans of EnCap Golf Holdings and of the Trump Organization. (Sat, 17 Jan 2009 06:37:53 GMT)

City Council opposes Gutman's bankruptcy plan
OCALA - The City Council voted unanimously Friday to oppose a bankruptcy reorganization plan filed by developer Jorge Gutman that offers to sell the undeveloped City Shops & Walk property and repay the city and all the unsecured creditors in full. (Sat, 17 Jan 2009 11:40:23 GMT)

Olympics organizers face hurdles over Nortel bankruptcy
The organizers of the 2012 London Olympics are looking at approaching alternative telecoms companies to take over Nortel's £40 million sponsorship contract, following the Canadian company's decision to file for bankruptcy protection. (Sat, 17 Jan 2009 14:58:51 GMT)

Star Tribune files for bankruptcy protection
Leading media house The Star Tribune has filed for bankruptcy protection after facing sharp revenue decline, a move that will help it cut costs and restructure debt. (Sat, 17 Jan 2009 16:47:41 GMT)

BANKRUPTCY Q & A
What’s the law? It’s a federal law, Title 11 of the U.S. Code, and it governs all bankruptcy cases, setting out formal legal procedures for dealing with the debt problems of individuals and businesses. The goal is to give debtors a financial fresh start from burdensome debts. Who decides? A federal bankruptcy judge. He or she will say if you are eligible to file and how your debts will be paid ... (Sun, 18 Jan 2009 05:19:16 GMT)

Arlington home builder Wall Homes files for Chapter 11 bankruptcy
By ANDREA JARES The builder of a north Fort Worth house for ABC television’s Extreme Makeover: Home Edition filed for Chapter 11 bankruptcy protection Saturday, another apparent victim of the housing industry crisis. Chief Executive Steve Wall, founder four years ago of what had been a fast-growing company, asserted that the home builder will complete houses under construction and that the ... (Sun, 18 Jan 2009 06:15:10 GMT)

Smurfit-Stone prepares for bankruptcy
NEW YORK (AP) — Shares of Smurfit-Stone Container Corp., the largest producer of cardboard box materials in North America, plummeted more than 80 percent Thursday on reports it hired bankruptcy lawyers. (Sun, 18 Jan 2009 08:06:14 GMT)

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