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Home > Bankruptcy News

Bankruptcy News Feb 2009

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Personal bankruptcy filings up in Connecticut
Connecticut's personal bankruptcy filings have increased by 60 percent in 2008 over the previous year, according to a report released Monday by The Warren Group. The (Mon, 16 Feb 2009 16:55:34 GMT)

Trump Entertainment Files for Bankruptcy
Trump Entertainment Resorts , Donald Trump’s casino group, filed for Chapter 11 bankruptcy protection on Tuesday, Reuters reported, citing court documents. (Tue, 17 Feb 2009 12:10:23 GMT)

Trump Entertainment Resorts files for bankruptcy
Trump Entertainment Resorts, based in Atlantic City, filed for Chapter 11 protection on Tuesday in U.S. Bankruptcy Court in New Jersey. (Tue, 17 Feb 2009 13:58:28 GMT)

Trump Resorts files for bankruptcy a third time
Trump Entertainment Resorts Inc. has filed for bankruptcy for a third time. (Tue, 17 Feb 2009 14:21:53 GMT)

Trump casinos to file for bankruptcy again: report
American real estate magnate Donald Trump's casino group, Trump Entertainment Resorts, is expected to file for bankruptcy protection Tuesday, the Wall Street Journal reported. (Tue, 17 Feb 2009 14:45:44 GMT)

Sirius XM Radio Avoids Bankruptcy
Liberty Media has agreed to loan Sirius XM Radio $530 million to help save the satellite radio provider from bankruptcy. (Tue, 17 Feb 2009 15:02:59 GMT)

Trump casino group in bankruptcy
Trump Entertainment Resorts, the casino operating group, filed for Chapter 11 bankruptcy protection, according to court documents filed Tuesday in Camden, N.J. (Tue, 17 Feb 2009 15:11:36 GMT)

Trump Entertainment files for bankruptcy
Trump Entertainment Resorts Inc, the casino operator named for Donald Trump, filed for bankruptcy protection on Tuesday as recession and declining gambling revenues battered the company and its rivals. (Tue, 17 Feb 2009 15:21:13 GMT)

Trump casinos file for bankruptcy a third time
The three Atlantic City casinos once run by Donald Trump filed for Chapter 11 bankruptcy protection on Tuesday — for the third time. (Tue, 17 Feb 2009 15:57:35 GMT)

Liberty Media deal staves off Sirius bankruptcy
Liberty Media Corp. will invest $530 million in Sirius XM Radio Inc., fending off a likely bankruptcy for the satellite radio company and blocking a bid by a rival, Dish Network Corp. CEO Charlie Ergen, to take control of Sirius. (Tue, 17 Feb 2009 15:59:10 GMT)

Detour bar maker files bankruptcy in peanut recall
Forward Foods LLC, the maker of Detour energy bars, filed for bankruptcy protection on Tuesday after a tainted peanut recall by its supplier, Peanut Corp of America, forced its own product recall on fears of salmonella poisoning, according to court documents. (Tue, 17 Feb 2009 16:26:18 GMT)

Liberty Media deal staves off Sirius bankruptcy
Facing a likely bankruptcy, Sirius XM Radio Inc. found a savior in Liberty Media Corp., which will lend $530 million to the satellite radio provider and block a bid for control that had been waged by a rival both companies share: Dish Network Corp. CEO Charlie Ergen. (Tue, 17 Feb 2009 22:10:25 GMT)

Trump casinos file for bankruptcy a third time
The three Atlantic City casinos once run by Donald Trump filed for Chapter 11 bankruptcy protection on Tuesday for the third time. (Wed, 18 Feb 2009 00:01:38 GMT)

Automakers Dismiss Bankruptcy as Obama Aide Won’t Rule It Out
Feb. 18 (Bloomberg) -- General Motors Corp. and Chrysler LLC, seeking up to $21.6 billion in additional federal aid to survive, said bankruptcy may cost the U.S. five times as much. (Wed, 18 Feb 2009 06:26:11 GMT)

Dreier Bankruptcy Papers Reveal Surplus of Assets
Three days after disgraced attorney Marc S. Dreier was released from jail to begin house arrest at his Manhattan apartment, papers filed in the Dreier LLP bankruptcy proceeding reveal that Dreier's 250-attorney firm might not be insolvent after all. (Wed, 18 Feb 2009 08:02:14 GMT)

Northwest Jesuits file for bankruptcy protection
Confronted by scores of lawsuits alleging sex abuse by priests, the Jesuits of the Oregon Province have filed for Chapter 11 bankruptcy protection. (Wed, 18 Feb 2009 11:32:57 GMT)

Northwest Jesuits file for bankruptcy protection
Confronted by scores of lawsuits alleging sex abuse by priests, the Jesuits of the Oregon Province have filed for Chapter 11 bankruptcy protection. The petition was filed Tuesday in U.S. Bankruptcy Court in Portland. The province of the Roman Catholic order... (Wed, 18 Feb 2009 11:54:58 GMT)

A car question: Bailout or bankruptcy?
WASHINGTON, Feb. 18 (UPI) -- The billions of dollars in additional federal help requested by U.S. automakers is dwarfed by the cost of bankruptcy, GM and Chrysler said. (Wed, 18 Feb 2009 13:09:00 GMT)

BearingPoint Files for Bankruptcy Protection
BearingPoint has reached the breaking point. The consulting firm, which was spun off from KPMG in 2001 and gets more than one-quarter of its revenue from the federal government, filed for Chapter 11 bankruptcy protection on Wednesday in New York. The company said it would use the bankruptcy process to carry out a “pre-arranged” restructuring plan that would wipe out existing shareholders. (Wed, 18 Feb 2009 14:54:18 GMT)

BearingPoint files for bankruptcy protection
BearingPoint Inc , which provides technology and management consulting services to the U.S. government, filed for Chapter 11 bankruptcy on Wednesday and said it reached an agreement with senior secured lenders to cut its debt load. (Wed, 18 Feb 2009 16:32:27 GMT)

Bankruptcy remains an option for GM, analysts say
A government-backed bankruptcy reorganization remains an option for saving General Motors Corp and Chrysler LLC, analysts said on Wednesday, even though the automakers have said they would rather not go down that road. (Wed, 18 Feb 2009 22:13:19 GMT)

Bankruptcy Could Be More Costly
General Motors and Chrysler have threatened that they will need $125 billion to finance bankruptcy if they do not receive the additional federal aid they are requesting. (Thu, 19 Feb 2009 03:54:37 GMT)

BearingPoint Seeks Bankruptcy Protection
McLean consulting giant BearingPoint, struggling under a heavy debt load, filed yesterday for bankruptcy protection. (Thu, 19 Feb 2009 05:00:00 GMT)

Bankruptcy stalks automakers despite loan plans
Even if General Motors and Chrysler obtain billions more in government loans, the threat of bankruptcy remains high for the troubled automakers, analysts warned. (Thu, 19 Feb 2009 05:14:21 GMT)

Bankruptcy for U.S. automakers could be more costly
General Motors and Chrysler have threatened that they will need $125 billion to finance bankruptcy if they do not receive the additional U.S. government aid they are requesting. (Thu, 19 Feb 2009 05:41:56 GMT)

Delphi retirees want voice in bankruptcy
Salaried retirees at Delphi are asking a bankruptcy judge to be recognized in Delphi's bankruptcy case, a move that would help them fight the auto supplier's plan to cut their health care and insurance benefits in less than two months. (Thu, 19 Feb 2009 11:42:42 GMT)

Would Bankruptcy Be More Costly for G.M.?
Businesses filing for bankruptcy need loans to work out their troubles, or face liquidation. But General Motors and its smaller rival, Chrysler , have threatened that they will need $125 billion, in what would be the largest bankruptcy financing packages ever, if they do not receive the additional federal aid they are requesting. (Thu, 19 Feb 2009 11:54:23 GMT)

Retailer with Fashion Island store files for bankruptcy
A children's clothing chain files for bankruptcy. (Thu, 19 Feb 2009 15:17:21 GMT)

BearingPoint files for bankruptcy
McLean-based BearingPoint Inc. has filed for Chapter 11 bankruptcy protection while it restructures its business. (Thu, 19 Feb 2009 15:41:19 GMT)

Trump: GM would be better off in bankruptcy
WASHINGTON — Add Donald Trump to the list of people who think General Motors Corp. would be better off in bankruptcy than asking for more government money. (Thu, 19 Feb 2009 15:42:32 GMT)

Bankruptcy Now Touching Nonprofits
Traditionally, insolvent charities have simply closed their doors and filed a plan of dissolution. Now, experts say, more are filing for bankruptcy. (Fri, 20 Feb 2009 04:22:12 GMT)

GM unit Saab files for bankruptcy protection
Automaker Saab filed for bankruptcy protection Friday and has applied to be spun off from its parent company General Motors, officials said. (Fri, 20 Feb 2009 09:27:16 GMT)

Charities Now Seek Bankruptcy Protection
On Tuesday, the board of Glass Youth and Family Services in Los Angeles voted to file for bankruptcy protection, unable to overcome falling state reimbursements, rising costs and dwindling donations. (Fri, 20 Feb 2009 11:54:23 GMT)

Saab seeks legal restructuring to avoid bankruptcy
Beleaguered Swedish car maker Saab Automobile sought legal restructuring Friday to stave off bankruptcy after it was abandoned by its owner General Motors, Saab and GM said. (Fri, 20 Feb 2009 12:29:08 GMT)

CanWest Seeks Cash to Stave Off Bankruptcy, Globe and Mail Says
Feb. 20 (Bloomberg) -- CanWest Global Communications Corp. , Canada’s biggest media company, is trying to secure financing by the end of the month to avoid a bankruptcy filing, the Globe and Mail reported. (Fri, 20 Feb 2009 13:24:18 GMT)

Saab files for bankruptcy
STOCKHOLM, Sweden, Feb. 20 (UPI) -- Swedish carmaker Saab filed for bankruptcy protection Friday, a move parent company General Motors Corp. said was a pursuit of corporate independence. (Fri, 20 Feb 2009 13:39:03 GMT)

GM-owned Saab files bankruptcy
STOCKHOLM (AP) — General Motors Corp.'s Swedish-based subsidiary Saab went into bankruptcy protection Friday so the unit can be spun off or sold by its struggling U.S. parent, officials said. (Fri, 20 Feb 2009 14:44:20 GMT)

Calif. home builder seeks bankruptcy protection
California home builder John Laing Homes filed for bankruptcy protection, citing a weakening demand for new homes. WL Homes, which does business as John Laing Homes, filed Chapter 11 documents in U.S. (Fri, 20 Feb 2009 15:16:49 GMT)

Saab to restructure as independent unit to avoid bankruptcy
Beleaguered Swedish carmaker Saab Automobile will undergo restructuring as an independent unit to stave off bankruptcy after it was abandoned by its owner General Motors, Saab and GM said Friday. (Fri, 20 Feb 2009 15:17:57 GMT)

Builder John Laing files for Chapter 11 bankruptcy protection
The company that does business as John Laing Homes filed for Chapter 11 bankruptcy reorganization in Delaware on Thursday, claiming between $500 million and $1 billion in debts. (Fri, 20 Feb 2009 15:18:44 GMT)

Adviser's role at issue in Tribune bankruptcy
A bankruptcy judge will consider whether Tribune Co. can hire a financial advisory firm that worked for one of the company's chief newspaper rivals. (Fri, 20 Feb 2009 17:58:55 GMT)

Qimonda, Computer-Chip Maker, Files for Bankruptcy (Update1)
Feb. 20 (Bloomberg) -- Qimonda Richmond LLC, a U.S. semiconductor-making unit of Infineon Technologies AG , filed for bankruptcy protection from creditors blaming the drop in global demand for computer chips. (Fri, 20 Feb 2009 20:50:16 GMT)

How a bankruptcy claim disrupted the Welsh Open snooker
Snooker player Mark Selby is handed what was claimed to be a writ and bankruptcy notice at his match at the Welsh Open. (Fri, 20 Feb 2009 22:15:40 GMT)

Saab in Bankruptcy Filing; G.M. Seeks More Aid
Saab, the Swedish automaker, filed for bankruptcy protection Friday and asked its government for financial support to remain in business as an independent company. (Sat, 21 Feb 2009 05:10:51 GMT)

Air Canada may be forced into bankruptcy: Analyst
Mounting debt and pension obligations have once again raised the spectre of Air Canada being forced into bankruptcy just five years after it emerged from a similar restructuring, according to an analyst’s report. (Sat, 21 Feb 2009 15:41:06 GMT)

Bankruptcy puts school funds on hold
The January bankruptcy filing by LyondellBasell Industries will be stretching the already tight budgets of education districts in Pasadena and Deer Park, according to officials at Pasadena ISD, Deer Park ISD and the San Jacinto College District. (Sat, 21 Feb 2009 16:47:17 GMT)

Journal Register seeks bankruptcy protection
Journal Register Co sought Chapter 11 bankruptcy protection on Saturday, making it the latest U.S. newspaper company to buckle under deteriorating advertising revenue and debt that it cannot easily repay. (Sun, 22 Feb 2009 02:42:51 GMT)

Journal Register files for bankruptcy protection
The Journal Register Co. filed Saturday for bankruptcy protection from its creditors and said slumping advertising revenue and circulation are to blame. (Sun, 22 Feb 2009 02:52:41 GMT)

Journal Register files for bankruptcy protection
The Journal Register Co., publisher of the New Haven (Conn.) Register and other newspapers, filed for Chapter 11 protection Saturday, joining at least two other publishers that turned to bankruptcy court in recent months amid slumping advertising revenue and circulation. (Sun, 22 Feb 2009 04:16:29 GMT)

Journal Register files for bankruptcy protection
The Journal Register Co., publisher of the New Haven Register and other newspapers, filed for bankruptcy protection Saturday, joining at least two other publishers that turned to bankruptcy court in recent months amid slumping advertising revenue and circulation. (Sun, 22 Feb 2009 04:24:04 GMT)

Journal Register files for bankruptcy protection
The Journal Register Co., publisher of the New Haven (Conn.) Register and other newspapers, has joined at least two other publishers that have turned to bankruptcy court in recent months. (Sun, 22 Feb 2009 05:01:35 GMT)

Journal Register Co. Files For Bankruptcy
The Journal Register Co., owner of 20 daily newspapers, filed for bankruptcy protection from its creditors on Saturday, the third publisher to do so since December. The company blamed a slump in advertising. (Sun, 22 Feb 2009 08:22:45 GMT)

Owner of Oakland Press, Macomb Daily in bankruptcy
The Journal Register Co., owner of 20 daily newspapers including the Oakland Press and Macomb Daily, filed Saturday for bankruptcy protection from its creditors -- the third publisher to do so since December. The company blamed a slump in advertising. (Sun, 22 Feb 2009 08:24:58 GMT)

Journal Register files for bankruptcy
The Journal Register Co., a newspaper company with dailies in the Philadelphia region that have a combined suburban circulation of 160,000, filed for bankruptcy protection from its creditors yesterday. (Sun, 22 Feb 2009 10:00:30 GMT)

Oakland Press Owner in Bankruptcy
The owner of the Oakland Press and other publications has filed for bankruptcy. (Sun, 22 Feb 2009 13:08:36 GMT)

Principal of Neb. business files for bankruptcy
OMAHA, Neb. (AP) - One of the principals of a Grand Island business suspected in a Ponzi scheme has filed for bankruptcy. (Sun, 22 Feb 2009 14:57:13 GMT)

Philly newspaper owner seeks bankruptcy protection
The owner of The Philadelphia Inquirer and Philadelphia Daily News has filed for bankruptcy. (Mon, 23 Feb 2009 04:11:40 GMT)

Philadelphia, Journal Register Papers File for Bankruptcy
The past weekend delivered only more bad news for the beleaguered newspaper industry. Philadelphia Newspapers , the company that owns that city’s two major newspapers, filed for bankruptcy on Sunday as it attempts to deal with $390 million in debt. (Mon, 23 Feb 2009 04:39:13 GMT)

Philadelphia Newspapers Seeking Bankruptcy
The owners of The Philadelphia Inquirer and The Philadelphia Daily News will file for bankruptcy after talks aimed at restructuring company debt broke down, executives said. (Mon, 23 Feb 2009 04:53:52 GMT)

Philadelphia papers owner files for bankruptcy protection
The publisher of The Philadelphia Inquirer and Daily News said on Sunday it filed for Chapter 11 bankruptcy protection, marking the latest milestone in a crumbling of the U.S. newspaper business. (Mon, 23 Feb 2009 09:05:38 GMT)

SFCG Files for Bankruptcy With 338 Billion Yen Debt (Update4)
Feb. 23 (Bloomberg) -- SFCG Co. , a Japanese lender whose creditors include Citigroup Inc. , filed for bankruptcy protection, triggering a slump in financial stocks on concern the country’s deepening recession will cause more failures. (Mon, 23 Feb 2009 10:21:12 GMT)

Advisers readying bankruptcy financing for US automakers: report
Talks are underway to secure what would be the largest-ever US bankruptcy loan for General Motors and Chrysler, in the event that the struggling US automakers opt to file for Chapter 11 protection, The Wall Street Journal reported Monday. (Mon, 23 Feb 2009 13:36:08 GMT)

Two more newspaper publishers file for bankruptcy
Two more U.S. newspaper publishers, Philadelphia Newspapers LLC and Journal Register Co., filed for bankruptcy protection over the weekend, two more ominous steps along an uncertain path for the industry. (Mon, 23 Feb 2009 13:59:44 GMT)

Ritz Camera Centers Files for Bankruptcy Protection (Update1)
Feb. 23 (Bloomberg) -- Ritz Camera Centers Inc., the largest camera-store chain in the U.S., sought bankruptcy protection from creditors citing slumping sales at one of its units. (Mon, 23 Feb 2009 16:04:58 GMT)

Ritz Camera seeks bankruptcy protection
Ritz Camera Centers, the nation's largest retail photography chain, has filed for Chapter 11 protection from creditors. The Beltsville, Md.-based company submitted its filing on Sunday in federal bankruptcy court in Delaware. (Mon, 23 Feb 2009 16:23:26 GMT)

U.S. seeking bankruptcy loan for carmakers
WASHINGTON, Feb. 23 (UPI) -- The U.S. Treasury has turned to outside advisers to begin assembling the largest bankruptcy loan ever in case a U.S. automaker goes under, sources said. (Mon, 23 Feb 2009 16:54:00 GMT)

Philadelphia Newspapers Seeking Bankruptcy
The owners of The Philadelphia Inquirer and The Philadelphia Daily News will file for bankruptcy after talks aimed at restructuring company debt broke down, executives said. (Mon, 23 Feb 2009 17:24:03 GMT)

Bad news for Philadephia Newspapers as it files for bankruptcy
Philadelphia Newspapers, owner of the city's two major dailies, the Inquirer and the Daily News, has filed for bankruptcy protection, the latest casualty in the troubled US newspaper industry. (Mon, 23 Feb 2009 17:34:28 GMT)

Journal Register Files For Chapter 11 Bankruptcy
The Journal Register Co. filed for Chapter 11 bankruptcy Saturday. According to the filing in the U.S. Bankruptcy Court for the Southern District of New York, the company reported debt of nearly $700 million against assets between $100 million and $500 million. (Mon, 23 Feb 2009 22:06:55 GMT)

Democrat leader sees bankruptcy bill this week
The leader of the U.S. House of Representatives said on Monday lawmakers expect to begin debating legislation this week that would let judges erase some mortgage debt for borrowers who file for bankruptcy. (Mon, 23 Feb 2009 22:53:12 GMT)

Schleswig-Holstein Faces Bankruptcy on HSH Nordbank, Bild Says
Feb. 24 (Bloomberg) -- The German state of Schleswig- Holstein faces bankruptcy, dragged down by the plight of public bank HSH Nordbank AG, Bild newspaper said , citing Rasmus Voege, vice president of the state’s ruling Christian Democratic Union. (Tue, 24 Feb 2009 07:38:07 GMT)

Philly newspapers due in Bankruptcy Court Tuesday
A federal bankruptcy judge is preparing to open hearings on the proposed restructuring of some $390 million in debt of the company that owns Philadelphia's two largest newspapers. (Tue, 24 Feb 2009 12:34:01 GMT)

Bankruptcy hearing for Inquirer, Daily News owner
A bankruptcy judge is preparing to hear today from the owner of The Philadelphia Inquirer and Daily News. (Tue, 24 Feb 2009 12:52:54 GMT)

Ritz Camera files for bankruptcy
Ritz Camera Centers Inc., the largest camera-store chain in the U.S. and parent of Atlanta's Wolf Camera outlets, filed for bankruptcy protection blaming the deepening U.S. recession and the consumer transition to digital photography. (Tue, 24 Feb 2009 13:01:43 GMT)

Minneapolis newspapers in bankruptcy
A big-city newspaper company struggling under the burden of overwhelming debt files for bankruptcy. Yes, it happened here on Sunday with Philadelphia Newspapers L.L.C., owner of The Inquirer, the Philadelphia Daily News and Philly.com. But a strikingly parallel situation is a month old in Minneapolis, Minn., where the owner of the Star Tribune also has sought court protection. (Tue, 24 Feb 2009 16:00:41 GMT)

Bankruptcy may force some changes in news delivery
With the four owners of 33 U.S. daily newspapers seeking bankruptcy protection in the past 21/2 months, even more upheaval looms for an industry clearly gasping for survival. (Tue, 24 Feb 2009 16:03:22 GMT)

Goal of auto task force not bankruptcy: senator
An Obama administration task force is carefully analyzing restructuring plans of General Motors Corp and Chrysler LLC, but bankruptcy is not the panel's goal for them, a U.S. senator said on Tuesday. (Wed, 25 Feb 2009 02:43:11 GMT)

Philly news execs skip raises in bankruptcy case
The chief executive of Philadelphia's two largest daily newspapers pledged Tuesday to roll back a recent $232,000 raise while his company tries to reorganize in bankruptcy court, but lenders questioned whether he should run the debt-heavy business. (Wed, 25 Feb 2009 02:57:19 GMT)

Bankruptcy Filings Would Rise Under Mortgage Bill, CBO Says
More than one million distressed homeowners could benefit from filing for bankruptcy under proposed legislation allowing bankruptcy judges to modify mortgages on primary residences, according to the Congressional Budget Office. (Wed, 25 Feb 2009 05:00:00 GMT)

Eclipse noteholders seeking Chapter 7 bankruptcy
Struggling jet maker Eclipse Aviation has sustained another setback as senior noteholders filed a motion in federal court to convert the company's bankruptcy proceedings to Chapter 7. (Wed, 25 Feb 2009 12:27:03 GMT)

Inquirer's owners take bankruptcy case to court
The owners of The Inquirer and the Philadelphia Daily News - the region's two major newspapers - made their case in U.S. Bankruptcy Court yesterday for why they should remain in charge, as dramatic details emerged of last-minute maneuverings over the papers' fate. (Wed, 25 Feb 2009 13:00:47 GMT)

Court grants Foamex bankruptcy requests
Foamex International Inc., a foam manufacturer that is undergoing Chapter 11 bankruptcy reorganization, was granted by the court several requests it sought. (Wed, 25 Feb 2009 14:07:18 GMT)

GM Bankruptcy Advisers’ Fees Might Be ‘Bonanza’ $1.2 Billion
Feb. 25 (Bloomberg) -- A General Motors Corp. bankruptcy might yield a $1.2 billion “bonanza” for bankers, accountants and lawyers, surpassing record fees being made by advisers on the collapse of Lehman Brothers Holdings Inc. (Wed, 25 Feb 2009 14:35:52 GMT)

GM explores various options for bankruptcy
Days after General Motors Corp. outlined three possible bankruptcy scenarios, the U.S. Treasury Department acknowledged Monday that it is exploring how it might fund a court-protected bankruptcy by GM and Chrysler LLC. (Wed, 25 Feb 2009 15:43:28 GMT)

Bankruptcy filings surged in 2008
BOSTON (AP) - Bankruptcy filings among publicly traded companies surged 74 percent in 2008, according to data from BankruptcyData.com , a division of New Generation Research Inc. (Wed, 25 Feb 2009 15:50:21 GMT)

Saks Jumps After Chief Executive Denies Bankruptcy Speculation
Feb. 25 (Bloomberg) -- Saks Inc. , the U.S. luxury chain, jumped as much as 16 percent in New York trading after Chief Executive Officer Stephen Sadove said the company wasn’t headed for bankruptcy and would consider any offers. (Wed, 25 Feb 2009 16:58:16 GMT)

Eclipse says it won't oppose bankruptcy
Eclipse Aviation says it will not oppose a motion filed in federal court by senior noteholders to convert the Albuquerque aircraft manufacturer's bankruptcy proceedings to Chapter 7, a further indication the company will likely be liquidated. (Wed, 25 Feb 2009 22:48:08 GMT)

Bankruptcy law may be modified
Measure could give judges more power to modify primary home mortgages WASHINGTON--Congress is poised to give bankruptcy judges more power to modify primary home mortgages in an attempt to halt the foreclosure crisis, a move Democrats and housing advocates have been pushing for two years in the face of stiff opposition from Republicans and the mortgage industry. (Thu, 26 Feb 2009 03:20:46 GMT)

Visteon edges closer to bankruptcy
After reporting a $663 million loss in 2008 and watching its stock fall to 13 cents a share, analysts said a bankruptcy filing by Visteon could be triggered by March 10 when the company's next large interest payment is due. (Thu, 26 Feb 2009 06:04:26 GMT)

A GM bankruptcy would boost fees
A General Motors Corp. bankruptcy might yield a $1.2-billion bonanza for bankers, accountants and lawyers, surpassing record fees being made by advisers on the collapse of Lehman Brothers Holdings Inc. (Thu, 26 Feb 2009 08:26:20 GMT)

Bankruptcy filings climb in Washington
Washington ranked second among the states, behind New Jersey, in the rate of growth in bankruptcy filings from December to January, according to AACER, an Oklahoma City-based bankruptcy data and management firm. (Thu, 26 Feb 2009 08:28:17 GMT)

Latvia 'on verge of bankruptcy'
Valdis Dombrovskis warns Latvia is "on the verge of bankruptcy" after being nominated as its new prime minister. (Thu, 26 Feb 2009 09:36:58 GMT)

Judge in Inquirer case well-versed in bankruptcy
The judge at the center of the bankruptcy filing by the company that owns The Inquirer and the Philadelphia Daily News herself was once a bankruptcy lawyer and played a role in helping reshape aspects of laws governing failed companies. (Thu, 26 Feb 2009 11:31:55 GMT)

Despite Loss, Saks Chief Offers Plan to Avoid Bankruptcy
Ever since it began posting double-digit sales declines and selling luxury goods at 75 percent off, Saks has been accused by rivals of decimating the luxury market and suspected, even by allies, of being a candidate for bankruptcy. (Thu, 26 Feb 2009 12:54:13 GMT)

AGA's Armitage bankruptcy details lavish life
Gary Armitage, the former Santa Rosa financial adviser at the heart of a state fraud probe, filed bankruptcy papers this week revealing how lavishly he lived and how deeply the Healdsburg resident has plunged into debt. (Thu, 26 Feb 2009 16:04:14 GMT)

Fingers Point as Doubledown Files for Bankruptcy
Defunct Doubledown Media has finally filed for bankruptcy. Let the recriminations begin. In the weeks since the company, home to Trader Monthly and other targeted high-end titles, suspended operations, its unlucky employees and investors have been scrambling to assign blame, with most fingers pointing at president Randall Lane. (Thu, 26 Feb 2009 16:41:22 GMT)

Gianfranco Ferre owner seeks bankruptcy protection
The IT Holding company, which owns the Gianfranco Ferre fashion house, sought bankruptcy protection from its creditors Thursday. (Thu, 26 Feb 2009 21:17:20 GMT)

Bankruptcy Code Changes Considered to Avoid Circuit City Redux
Feb. 27 (Bloomberg) -- Lawmakers are considering changes to the U.S. bankruptcy code that would give retailers more time to find a buyer or restructure and avoid going out of business, according to a person familiar with the proposed legislation. (Fri, 27 Feb 2009 05:35:39 GMT)

As GM losses deepen, bankruptcy fears grow
Thursday brought further signs that GM is teetering on bankruptcy, a scenario the century-old automaker is desperately trying to avoid. (Fri, 27 Feb 2009 08:25:29 GMT)

Hearing set in Michael Vick bankruptcy case
Michael Vick's bankruptcy lawyers are heading back to court in Newport News. (Fri, 27 Feb 2009 11:23:03 GMT)

Hearing set in Michael Vick bankruptcy case
Michael Vick's bankruptcy lawyers are heading back to court in Newport News. The suspended NFL star's third financial disclosure statement is the major issue in Friday's hearing. Judge Frank Santoro has twice rejected the disclosure statement filed in Vick's... (Fri, 27 Feb 2009 11:40:33 GMT)

Vick bankruptcy hearing today in Newport News
NEWPORT NEWS Michael Vick's bankruptcy lawyers are heading back to court in Newport News. The suspended NFL star's third financial disclosure statement is the major issue in today's hearing. Judge Frank Santoro has twice rejected the disclosure statement filed in Vick's Chapter 11 bankruptcy case. (Fri, 27 Feb 2009 11:42:10 GMT)

Hearing set in Michael Vick bankruptcy case
NEWPORT NEWS, Va. (AP) -- Michael Vick's bankruptcy lawyers are heading back to court in Newport New... (Fri, 27 Feb 2009 13:19:24 GMT)

Latvia’s Credit Risk Rises to Record on Bankruptcy Concern
Feb. 27 (Bloomberg) -- The cost to protect against a default by Latvia rose to a record after Prime Minister-designate Valdis Dombrovskis said the Baltic nation must cut budget spending or face bankruptcy. (Fri, 27 Feb 2009 13:26:43 GMT)

Mortgage Bankruptcy Vote Delay
A House vote on mortgage bankruptcy reform was derailed Thursday after moderate Democrats won some last-minute leverage through Sen. Richard Durbin. (Fri, 27 Feb 2009 15:54:36 GMT)

Bankruptcy filings surged in 2008
BOSTON (AP) - Bankruptcy filings among publicly traded companies surged 74 percent in 2008, according to data from BankruptcyData.com , a division of New Generation Research Inc. (Fri, 27 Feb 2009 16:49:04 GMT)

GM uncontrolled bankruptcy would be disaster: Ross
Billionaire investor Wilbur Ross said an "uncontrolled" bankruptcy of General Motors Corp would be a "disaster" and a prepackaged reorganization would be a better solution. (Fri, 27 Feb 2009 18:16:11 GMT)

Vick called to bankruptcy court before release
NEWPORT NEWS, Va. (AP) -- A judge wants ex-Atlanta Falcons quarterback Michael Vick appear in bankruptcy court in Virginia before he's released from prison. (Fri, 27 Feb 2009 19:09:26 GMT)

Bankruptcy judge wants Michael Vick to appear in Virginia court
NEWPORT NEWS, Va. - The judge presiding over Michael Vick's bankruptcy case insisted Friday that the suspended NFL star testify at a hearing in April, even if his attorneys have to get a court order to bring him from a federal prison in Kansas. (Fri, 27 Feb 2009 22:14:00 GMT)

Briefs: Vick ordered to appear in bankruptcy court
Friday's NFL news briefs: The judge presiding over Michael Vick's bankruptcy case insisted that the suspended NFL star testify at a hearing in April, even if his attorneys have to get a court order to bring him from a federal prison in Kansas. (Sat, 28 Feb 2009 00:38:47 GMT)

Lyondell gets bankruptcy financing court approval
A federal bankruptcy judge on Friday approved an $8 billion bankruptcy loan for oil and chemical maker Lyondell Chemical Co . (Sat, 28 Feb 2009 01:13:34 GMT)

O'Fallon treasurer files personal bankruptcy
O'FALLON, Ill. -- The city treasurer of O'Fallon, who is responsible for the St. Louis suburb's $45.5 million budget, has filed for a personal bankruptcy, claiming $12 million in debts. Treasurer David Hursey and his wife, Susan, filed for Chapter 7 liquidation of assets this month, listing liabilities for their $250,000 O'Fallon home, a $350,000 Lake of the Ozarks condo and a $12,000 Florida ... (Sat, 28 Feb 2009 10:07:47 GMT)

Bankruptcy talk derails city bond sale
STOCKTON - The city was trying to sell $31 million in bonds last week when, in an unrelated meeting of the City Council's budget and finance committee, Councilman Dale Fritchen brought up bankruptcy. (Sat, 28 Feb 2009 11:15:28 GMT)

Out of the rough: Flag Ranch Golf Club emerges from bankruptcy
Flagstaff Ranch Golf Club will have its golf course open this year, as the housing development plans to emerge from a nearly three-year bankruptcy. (Sat, 28 Feb 2009 13:18:41 GMT)

O'Fallon, Ill., city treasurer files for bankruptcy
O’FALLON, Ill. The city treasurer of O’Fallon, Ill., who is responsible for the St. Clair County’s community’s $45.5 million budget, has filed for a personal bankruptcy, claiming $12 million in debts. (Sat, 28 Feb 2009 15:56:24 GMT)

Ferre - Grace Under Pressure, And Bankruptcy's Shadow
If style means grace under pressure, then the designers of Gianfranco Ferre, Tommaso Aquilano and Roberto Rimondi, should get medals for their powerfully audacious fall 2009 collection presented in Milan on Friday, Feb. 27, the day after news broke that the fashion house they guide has now officially sought bankruptcy protection from its creditors. (Sat, 28 Feb 2009 17:01:00 GMT)

Lyondell Chemical Wins Approval for $8 Billion Bankruptcy Loan
Feb. 28 (Bloomberg) -- Lyondell Chemical Co. won approval of an $8 billion bankruptcy loan, the largest in history, after changes were made in response to creditors’ concerns that prior terms could cause the company to default. (Sat, 28 Feb 2009 19:25:37 GMT)

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