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Home > Bankruptcy News

Bankruptcy News Apr 2009

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Unusual Bankruptcy in Store for G.M.
The government is seeking to ease General Motors into what it calls a ?controlled? bankruptcy, in between a prepackaged bankruptcy and court chaos. (Wed, 01 Apr 2009 02:03:31 GMT)

Silicon Graphics files for Chapter 11 bankruptcy
Silicon Graphics Inc , which makes servers and data storage products, filed for bankruptcy protection in a New York court, filings showed. (Wed, 01 Apr 2009 10:46:49 GMT)

Potential GM bankruptcy plan includes company split
A possible bankruptcy plan being discussed for General Motors includes quickly forming a new company of the automaker's most profitable parts, while a group of other units would remain under bankruptcy protection for a longer period, a source familiar with the plans told Reuters on Tuesday. (Wed, 01 Apr 2009 11:55:32 GMT)

U.S. Plan Sees Easing of G.M. to Bankruptcy
The government may seek to ease General Motors into what it calls a “controlled” bankruptcy, somewhere between a prepackaged bankruptcy and court chaos, by persuading at least some creditors to agree to a plan that would cleave the company into two pieces, The New York Times’s Michael J. de la Merced and Jonathan D. Glater reported, citing people briefed on the matter. (Wed, 01 Apr 2009 12:00:41 GMT)

U.S. plans to ease GM into bankruptcy: report
The Obama administration is seeking to ease General Motors Corp into a "controlled" bankruptcy by persuading some creditors to agree to a plan that would divide the company into two pieces, the New York Times reported on Wednesday. (Wed, 01 Apr 2009 13:13:47 GMT)

Obama Said to Find Bankruptcy Likely for GM, Chrysler
April 1 (Bloomberg) -- President Barack Obama believes a quick, negotiated bankruptcy is the most likely way for General Motors Corp. to restructure and become a competitive automaker, people familiar with the matter said. (Wed, 01 Apr 2009 13:49:59 GMT)

Silicon Graphics Files Bankruptcy With Plans for Sale (Update1)
April 1 (Bloomberg) -- Silicon Graphics Inc ., a provider of computing and data-storage products, filed for bankruptcy protection for the second time in less than three years. (Wed, 01 Apr 2009 14:16:03 GMT)

White House optimistic GM can avoid bankruptcy
President Barack Obama's administration remains optimistic that General Motors Corp can restructure without going to bankruptcy court, a senior administration official said on Wednesday. (Wed, 01 Apr 2009 15:40:56 GMT)

Thornburg Mortgage to File for Bankruptcy, Liquidate (Update2)
April 1 (Bloomberg) -- Thornburg Mortgage Inc. , the “jumbo” residential loan specialist battling a slump in home sales and the collapse of mortgage markets, plans to file for bankruptcy protection and shut down. (Wed, 01 Apr 2009 15:43:12 GMT)

GM Bonds Fall on Concern Obama Will Allow Bankruptcy (Update1)
April 1 (Bloomberg) -- General Motors Corp. bonds tumbled on concern that President Barack Obama will let the biggest U.S. automaker file for bankruptcy. (Wed, 01 Apr 2009 15:54:18 GMT)

Can Bankruptcy Work? Three Recent Examples
Will bankruptcy help save GM or Chrysler? A look at three majorbankruptcies -- Continental Airlines, Kmart and Fruit of the Loom -- shows that outcomes can vary widely (Thu, 02 Apr 2009 11:17:49 GMT)

Early motions approved in Sun-Times bankruptcy
WILMINGTON, Del. -- Lawyers for the Sun-Times Media Group Inc. said Wednesday the company's Chapter 11 bankruptcy filing could result in either a restructuring or a sale. (Thu, 02 Apr 2009 11:52:28 GMT)

Michael Vick to make first appearance in bankruptcy court
NEWPORT NEWS, Va. - A judge wants to know more about suspended NFL star Michael Vick's bankruptcy plan, which is based on his goal of resuming his football career when he gets out of jail. (Thu, 02 Apr 2009 12:49:00 GMT)

GM sees bankruptcy risk
WASHINGTON/DETROIT (Reuters) - General Motors warned on Tuesday there was a rising chance it could file for bankruptcy by June as Fiat and Chrysler executives met in a race to complete a tie-up the U.S. government has said Chrysler needs to survive. (Thu, 02 Apr 2009 12:50:39 GMT)

Potential GM bankruptcy plan includes company split
NEW YORK (Reuters) - A possible bankruptcy plan being discussed for General Motors includes quickly forming a new company of the automaker's most profitable parts, while a group of other units would remain under bankruptcy protection for a longer period, a source familiar with the plans told Reuters on Tuesday. (Thu, 02 Apr 2009 13:07:52 GMT)

Vick appears in Va. court for bankruptcy hearing
Suspended NFL star Michael Vick is in a Virginia court to face questions about his plan to emerge from bankruptcy. (Thu, 02 Apr 2009 15:20:50 GMT)

GM's new CEO says bankruptcy is 'more probable'
DETROIT -- General Motors Corp.'s new chief executive said Tuesday that more of the automaker's plants could close and bankruptcy is "more probable" as GM works to meet new, tougher requirements for government aid. In his first news conference as CEO, Fritz Henderson said he expects the company would "need to take further measures" beyond the five plants the company said it would shutter when it ... (Thu, 02 Apr 2009 15:31:16 GMT)

U.S. Lawmakers to Consider Bill That Changes Bankruptcy Law
April 2 (Bloomberg) -- U.S. Representative Jerrold Nadler will propose changes to the bankruptcy code, including extending the time limit retailers have to decide which stores to keep open. (Thu, 02 Apr 2009 15:45:31 GMT)

Obama's tough auto stance may include bankruptcy
WASHINGTON (Reuters) - President Barack Obama ordered General Motors Corp and Chrysler LLC to accelerate their survival efforts and brace for possible bankruptcy, saying neither company had done enough to justify the taxpayer money they were seeking. (Thu, 02 Apr 2009 15:46:31 GMT)

Vick in court to explain bankruptcy plans
A judge wants to know more about suspended NFL star Michael Vick's bankruptcy plan, which is based on his goal of resuming his football career when he gets out of jail. Vick is scheduled to make his first personal appearance in a Virginia bankruptcy court since filing his Chapter 11 case from prison. Vick must testify at the hearing, which begins Thursday in Newport News. The former Atlanta ... (Thu, 02 Apr 2009 15:52:28 GMT)

NFL return part of Vick's bankruptcy escape plan
Disgraced American football star Michael Vick outlined his plan to escape bankruptcy before a court here on Thursday, a strategy that includes returning to the National Football League. (Thu, 02 Apr 2009 17:35:13 GMT)

G.M. Is Willing to Consider Bankruptcy
General Motors stated in a regulatory filing to the Treasury Department on Thursday that it is prepared to file for bankruptcy protection if it cannot restructure out of court, The New York Times’s Micheline Maynard reports from Detroit. (Thu, 02 Apr 2009 23:45:21 GMT)

Obama's tough auto stance may include bankruptcy
WASHINGTON (Reuters) - President Barack Obama ordered General Motors Corp and Chrysler LLC to accelerate their survival efforts and brace for possible bankruptcy, saying neither company had done enough to justify the taxpayer money they were seeking. (Fri, 03 Apr 2009 08:22:18 GMT)

Potential GM bankruptcy plan includes company split
NEW YORK (Reuters) - A possible bankruptcy plan being discussed for General Motors includes quickly forming a new company of the automaker's most profitable parts, while a group of other units would remain under bankruptcy protection for a longer period, a source familiar with the plans told Reuters on Tuesday. (Fri, 03 Apr 2009 08:23:39 GMT)

GM's Views Shift on Bankruptcy as a Strategy
DETROIT, April 2 -- The leaders of General Motors have been uncomfortable for months even mentioning the word "bankruptcy." The very idea would scare off customers, they said, and ravage car sales. (Fri, 03 Apr 2009 12:02:11 GMT)

GM 'prepared' for possible bankruptcy
Ailing US auto giant General Motors has said it is "prepared" for bankruptcy proceedings if not able to restructure out of court, according to a regulatory filing it made to the Treasury Department. (Fri, 03 Apr 2009 13:39:37 GMT)

Hearing postponed in Magna bankruptcy
A Delaware bankruptcy judge has agreed to delay a hearing on proposed bidding procedures for the assets of horse track owner Magna Entertainment Corp. (Fri, 03 Apr 2009 14:51:42 GMT)

GM sees bankruptcy risk
WASHINGTON/DETROIT (Reuters) - General Motors warned on Tuesday there was a rising chance it could file for bankruptcy by June as Fiat and Chrysler executives met in a race to complete a tie-up the U.S. government has said Chrysler needs to survive. (Fri, 03 Apr 2009 15:40:21 GMT)

Michael Vick's bankruptcy plan rejected
A federal bankruptcy judge has denied the Chapter 11 bankruptcy plan presented by suspended NFL quarterback Michael Vick. (Fri, 03 Apr 2009 22:50:58 GMT)

GM CEO says bankruptcy will be fast if needed: report
U.S. automaker General Motors Corp will move quickly into bankruptcy if necessary, chief executive Fritz Henderson said in an interview with the Financial Times newspaper published on Friday. (Fri, 03 Apr 2009 23:03:23 GMT)

Judge rejects Michael Vick's plan to emerge from bankruptcy
NEWPORT NEWS, Va. - Fallen NFL star Michael Vick told a bankruptcy judge Friday that he became a changed man in prison and is determined to do all the right things upon his release from prison, including repaying his creditors with the millions he hopes to resume earning in professional football. (Sat, 04 Apr 2009 02:46:00 GMT)

Judge rejects Vick bankruptcy plan, orders new one
Disgraced NFL star Michael Vick told a bankruptcy court he has a plan for repaying millions to his creditors and knows he can't live like his old self. But his "exit strategy" is too dependent on whether he can play football like the old Vick did, a judge said. (Sat, 04 Apr 2009 10:34:01 GMT)

Vick's bankruptcy plan doesn't add up for judge
RICHMOND, Va. - Michael Vick's plan to emerge from bankruptcy simply didn't add up. (Sat, 04 Apr 2009 19:43:00 GMT)

GM planning for bankruptcy
Fritz Henderson, GM’s new president and CEO, said for the first time Sunday that the automaker is planning for the possibility of restructuring within bankruptcy, although he said he still hoped to avoid that public-relations nightmare. (Sun, 05 Apr 2009 14:04:00 GMT)

GM CEO open to bankruptcy 'if it's required'
General Motors Corp. is softening its opposition to bankruptcy reorganization a little more, with new CEO Fritz Henderson saying in an interview broadcast on Sunday, "if it's required, that's what we'll do." (Sun, 05 Apr 2009 14:29:36 GMT)

GM CEO open to bankruptcy 'if it's required'
Associated Press fileGM CEO Fritz Henderson said GM will be "reinvented" with or without bankruptcy protection. DETROIT -- General Motors Corp. is softening its opposition to bankruptcy reorganization a little more, with new CEO Fritz Henderson saying in an interview... (Sun, 05 Apr 2009 15:29:51 GMT)

GM CEO open to bankruptcy 'if it's required'
General Motors Corp. is softening its opposition to bankruptcy reorganization a little more, with new CEO Fritz Henderson saying in an interview broadcast on Sunday, "if it's required, that's what we'll do." GM still prefers to do its restructuring without... (Sun, 05 Apr 2009 15:48:46 GMT)

New boss, Treasury chief open to bankruptcy for GM
Embattled General Motors is preparing for bankruptcy if necessary but will emerge "reinvented" from its wrenching crisis, GM's new government-backed boss Fritz Henderson said Sunday. (Sun, 05 Apr 2009 18:10:42 GMT)

New G.M. Chief Doesn’t Rule Out Bankruptcy
A week into his new job as chief executive of General Motors , Fritz Henderson said on Sunday he was confident in the future of the company but a structured bankruptcy remains a possibility, The New York Times’s A. G. Sulzberger reported. (Sun, 05 Apr 2009 19:15:21 GMT)

GM CEO Henderson says bankruptcy not inevitable
Bankruptcy is not inevitable for General Motors Corp, said the automaker's new chief executive on Sunday, who is under White House orders to win more concessions from bondholders and unionized workers. (Mon, 06 Apr 2009 10:17:35 GMT)

GM CEO Henderson Says Bankruptcy Not Inevitable
GM CEO Henderson Says Bankruptcy Not Inevitable (Mon, 06 Apr 2009 12:40:36 GMT)

Judge denies Michael Vick's bankruptcy plan
A federal bankruptcy judge has denied the Chapter 11 bankruptcy plan presented by suspended NFL quarterback Michael Vick. (Mon, 06 Apr 2009 15:37:37 GMT)

GM Bankruptcy Plan Developing as Board Seeks Savings (Update1)
April 7 (Bloomberg) -- General Motors Corp. is speeding up preparations for a possible bankruptcy filing even as directors scout for deeper savings this week to avoid that outcome, people familiar with the plans said. (Tue, 07 Apr 2009 14:09:19 GMT)

GM CEO Henderson says bankruptcy not inevitable
WASHINGTON (Reuters) - Bankruptcy is not inevitable for General Motors Corp, said the automaker's new chief executive on Sunday, who is under White House orders to win more concessions from bondholders and unionized workers. (Tue, 07 Apr 2009 14:37:11 GMT)

GM in "intense" bankruptcy prep: source
General Motors Corp is in "intense" and "earnest" preparations for a possible bankruptcy filing, a source familiar with the company's plans told Reuters on Tuesday. (Tue, 07 Apr 2009 15:46:56 GMT)

Chrysler bankruptcy risk greater than 70%, more than GM, report says
Chrysler faces a greater risk of filing for Chapter 11 bankruptcy than General Motors Corp. as a result of the assessments delivered last week by the Obama administration's auto task force, Moody's Corporate Finance said in a report on Monday. (Tue, 07 Apr 2009 15:55:49 GMT)

Germany's Karmann files bankruptcy
German auto company Karmann, which made the classic VW Karmann Ghia two-seater from the 1950s to the 1970s and also has built convertibles for Audi and Chrysler, filed for bankruptcy protection Wednesday, blaming the sharp decline in demand for cars for its predicament. (Wed, 08 Apr 2009 11:04:25 GMT)

GM readies for bankruptcy
GM edged closer to preparations for possible bankruptcy on Wednesday, a source familiar with the company's plans said, while Germany extended its subsidy for scrapping old cars. (Wed, 08 Apr 2009 11:15:42 GMT)

G.M. In ‘Intense’ Preparations For Bankruptcy, Report Says
General Motors is in “intense” and “earnest” preparations for a possible bankruptcy filing, Reuters reported, citing a source familiar with the company’s plans. (Wed, 08 Apr 2009 11:32:36 GMT)

GM CEO Henderson says bankruptcy not inevitable
WASHINGTON (Reuters) - Bankruptcy is not inevitable for General Motors Corp, said the automaker's new chief executive on Sunday, who is under White House orders to win more concessions from bondholders and unionized workers. (Wed, 08 Apr 2009 11:46:05 GMT)

Exec says Toyota prepared for GM bankruptcy
A top Toyota executive says the automaker is prepared to deal with a possible bankruptcy filing by rival General Motors. (Wed, 08 Apr 2009 15:32:20 GMT)

Aventine files Chapter 11 bankruptcy protection
Ethanol producer Aventine Renewable Energy Holdings Inc. said Wednesday it has filed for Chapter 11 bankruptcy protection. (Wed, 08 Apr 2009 15:32:33 GMT)

GM readies for bankruptcy
GM edged closer to preparations for possible bankruptcy on Wednesday, a source familiar with the company's plans said, while Germany extended its subsidy for scrapping old cars. (Wed, 08 Apr 2009 16:02:06 GMT)

U.S. objects to involuntary bankruptcy for Madoff
U.S. authorities are opposing an effort to force Bernard Madoff into involuntary bankruptcy, a move some bilked clients contend would help ensure the confessed swindler's personal assets will be used to compensate his victims. (Wed, 08 Apr 2009 19:58:05 GMT)

GM CEO Henderson says bankruptcy not inevitable
WASHINGTON (Reuters) - Bankruptcy is not inevitable for General Motors Corp, said the automaker's new chief executive on Sunday, who is under White House orders to win more concessions from bondholders and unionized workers. (Thu, 09 Apr 2009 06:51:24 GMT)

Germany's Karmann files bankruptcy
FRANKFURT -- German auto company Karmann, which made the classic VW Karmann Ghia two-seater from the 1950s to the 1970s and also has built convertibles for Audi and Chrysler, filed for bankruptcy protection Wednesday, blaming the sharp decline in demand for cars for its predicament. (Thu, 09 Apr 2009 12:04:27 GMT)

Exec says Toyota prepared for GM bankruptcy
NEW YORK -- A top Toyota executive said Wednesday the automaker's U.S. operations are prepared to deal with the effects of a possible bankruptcy filing by rival General Motors Corp. (Thu, 09 Apr 2009 12:04:47 GMT)

GM's Potential Bankruptcy: Shopping for a Venue
If GM files for bankruptcy it may do so in a city far, far away from its employees or suppliers (Thu, 09 Apr 2009 14:57:30 GMT)

GM bankruptcy even more likely: source
TROUBLED US automaker General Motors is set to renegotiate a less advantageous deal with bondholders to restructure its debt, but a bankruptcy declaration remains more likely, US media reported today. (Fri, 10 Apr 2009 04:30:00 GMT)

GM eyes possible bankruptcy: WSJ
Troubled US automaker General Motors is set to renegotiate a less advantageous deal with bondholders to restructure its debt, but a bankruptcy declaration remains more likely, US media reported Friday. (Fri, 10 Apr 2009 05:50:33 GMT)

Utah bankruptcy filings rose 56#x25 in 1st quarter
The number of Utahns filing for bankruptcy protection has increased 56 percent during the first quarter of 2009 compared to the same period last year. (Fri, 10 Apr 2009 06:07:20 GMT)

SEC objects to involuntary bankruptcy for Madoff
U.S. regulators are opposing efforts by some of Bernard Madoff’s bilked customers to force him into involuntary bankruptcy, a move the investors contend would help ensure the confessed swindler’s personal assets are used to compensate his victims. (Fri, 10 Apr 2009 09:02:02 GMT)

New York Times could put Boston publication into bankruptcy
The Boston Globe could be facing a grim future of bankruptcy even if unions grant some or most of the $20 million concessions demanded by management. The head of the... (Fri, 10 Apr 2009 09:49:22 GMT)

NEW: Most prefer GM, Chrysler bankruptcy: poll
DETROIT -- More than three-quarters of Americans would rather General Motors Corp. and Chrysler LLC be forced into bankruptcy before taxpayers lend them more money, according to a CNN/Opinion Research polled released today. (Fri, 10 Apr 2009 12:40:00 GMT)

Bankruptcy filing puts lawsuit on hold
CARTHAGE, Mo. (AP) - A lawsuit filed nearly two years ago against a southwest Missouri biofuels plant is on hold following the plant owner's bankruptcy filing last month. (Fri, 10 Apr 2009 13:35:15 GMT)

Gun Lake Casino plans move forward despite managing company's impending bankruptcy
WAYLAND TOWNSHIP -- Plans for the Gun Lake Casino are quietly edging forward, despite what appears to be an impending bankruptcy filing by Station Casinos Inc., the company hired to manage its construction and operation. (Fri, 10 Apr 2009 15:34:05 GMT)

Peak Fitness seeking bankruptcy protection
The parent company of Peak Fitness has filed for bankruptcy protection, citing assets of less than $50,000, court records show. (Fri, 10 Apr 2009 15:40:07 GMT)

Judge: Investors can force Madoff bankruptcy
A federal judge says investors can force Bernard Madoff into personal bankruptcy proceedings. (Fri, 10 Apr 2009 19:50:59 GMT)

Madoff Can Be Forced Into Bankruptcy, Judge Rules
A federal judge ruled on Friday that investors could force the Bernard L. Madoff into personal bankruptcy proceedings. Federal prosecutors and the Securities and Exchange Commission have argued that it would be unnecessary and costly for the convicted financier to file for personal bankruptcy. (Fri, 10 Apr 2009 21:15:12 GMT)

Judge: Investors can force bankruptcy
A Manhattan judge has given investors a green light to go after Bernard Madoff's personal property by forcing the disgraced financier into bankruptcy. (Fri, 10 Apr 2009 21:20:23 GMT)

Judge rules Madoff can be pushed into bankruptcy
Victims of Bernard Madoff may be allowed to push the swindler behind a purported $65 billion Ponzi scheme into bankruptcy, a federal court judge ruled on Friday. (Sat, 11 Apr 2009 03:26:01 GMT)

Madoff Judge Refuses to Block Investor Forced-Bankruptcy Filing
April 11 (Bloomberg) -- Bernard Madoff may be forced into personal bankruptcy to ensure that all his assets are used to pay the investors he stole from, a federal judge ruled. (Sat, 11 Apr 2009 06:48:21 GMT)

Judge OKs forcing Bernie Madoff into bankruptcy to help pay back victims
Over federal prosecutors' objections, Judge Louis Stanton Friday said Madoff can be forced into personal bankruptcy so his assets can be used to pay off victims. (Sat, 11 Apr 2009 09:09:20 GMT)

BURNED INVESTORS SEEK MADOFF BANKRUPTCY
A group of burned investors can force Ponzi king Bernard Madoff into personal bankruptcy despite objections from the feds, a judge ruled yesterday. Manhattan federal Judge Louis Stanton said a Madoff bankruptcy would make available "assets which... (Sat, 11 Apr 2009 10:40:29 GMT)

Madoff faces bankruptcy
A US federal judge says investors can force Bernard Madoff into personal bankruptcy proceedings. (Sat, 11 Apr 2009 12:56:44 GMT)

Personal Bankruptcy for Madoff More Likely
A judge rejected arguments from the government and a trustee that forcing Bernard L. Madoff into personal bankruptcy would be unnecessarily expensive. (Sat, 11 Apr 2009 13:09:18 GMT)

Homebuilder Upbeat Despite Bankruptcy
Fulton Homes continues to build homes and remains upbeat about its future despite a bankruptcy filing and cratering home sales. (Sat, 11 Apr 2009 21:57:27 GMT)

U.S. judge rules investors can force Madoff into bankruptcy
A U.S. federal judge on Friday allowed investors to force Bernard Madoff, the swindler behind a purported 65-billion-dollar Ponzi scheme, into bankruptcy. Although U.S. federal prosecutors, the Securities and Exchange Commission and the Trustee for the Liquidation of Bernard L Madoff Investment Securities LLC opposed the bankruptcy proposal, U.S. District Court Judge Louis Stanton ruled that the ... (Sun, 12 Apr 2009 02:25:44 GMT)

SEC objects to involuntary bankruptcy for Madoff
U.S. regulators are opposing efforts by some of Bernard Madoff’s bilked customers to force him into involuntary bankruptcy, a move the investors contend would help ensure the confessed swindler’s personal assets are used to compensate his victims. (Sun, 12 Apr 2009 03:18:45 GMT)

Bankruptcy Proceedings
U.S. BANKRUPTCY COURT (Sun, 12 Apr 2009 05:59:10 GMT)

Risks of bankruptcy
You can’t make your mortgage payment. Or maybe you’ve lost your job and are faced with a mountain of credit card debt. Either way, you’re a casualty in the nation’s economic avalanche and you find yourself contemplating the last resort — bankruptcy. (Sun, 12 Apr 2009 08:45:59 GMT)

Bankruptcy filing puts lawsuit on hold
CARTHAGE, Mo. (AP) - A lawsuit filed nearly two years ago against a southwest Missouri biofuels plant is on hold following the plant owner's bankruptcy filing last month. (Sun, 12 Apr 2009 11:35:03 GMT)

GM told to prep for bankruptcy filing: report
The U.S. Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by June 1, even though the automaker has publicly stated it could reorganize outside of court, The New York Times reported on Sunday. (Mon, 13 Apr 2009 04:45:37 GMT)

US govt tells GM to prepare for bankruptcy filing
The US Treasury Department has told General Motors to make all necessary preparations for a possible bankruptcy filing by June 1, even though the troubled automaker insists it can restructure its business on its own, The New York Times reported. (Mon, 13 Apr 2009 05:00:00 GMT)

Bankruptcy-Related M&A On the Rise
According to new data, bankruptcy-related mergers and acquisitions have hit their highest level globally since August 2004 and are set to keep rising, The Financial Times reported. (Mon, 13 Apr 2009 11:01:11 GMT)

A ‘Surgical’ Bankruptcy Is Possible for G.M.
The Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by a June 1 deadline, despite G.M.’s public contention that it could still reorganize outside court, The New York Times’s Micheline Maynard and Michael J. de la Merced reported, citing people with knowledge of the plans. (Mon, 13 Apr 2009 11:30:12 GMT)

?Surgical? Bankruptcy Possible for G.M.
The Treasury Department is said to be directing G.M. to prepare for a bankruptcy filing by June 1, if necessary. (Mon, 13 Apr 2009 12:24:18 GMT)

GM shares tumble as bankruptcy fear grows
Shares of General Motors Corp plunged 17 percent on Monday after a report that the U.S. Treasury is directing the automaker to lay the groundwork for a bankruptcy filing by June 1. (Mon, 13 Apr 2009 14:04:05 GMT)

GM shares drop in worries about bankruptcy
Shares of General Motors Corp. tumbled Monday as speculation continued on whether the struggling automaker will ultimately be forced to file for bankruptcy protection despite billions of dollars in government aid. (Mon, 13 Apr 2009 15:14:31 GMT)

General Motors stock skids on bankruptcy reports
General Motors skidded on the stock market Monday after reports that the government was directing the troubled auto giant to lay the groundwork for a June 1 bankruptcy filing. (Mon, 13 Apr 2009 15:32:56 GMT)

Some Madoff investors push swindler toward bankruptcy
In a move to ensure that all of the personal assets of jailed swindler Bernard Madoff are used to pay his defrauded customers, some investors filed court papers on Monday to force him into involuntary bankruptcy. (Mon, 13 Apr 2009 15:33:16 GMT)

GM stock hit by bankruptcy report
Shares in US carmaker General Motors fall sharply after reports that the US government wants it to start bankruptcy proceedings. (Mon, 13 Apr 2009 15:43:17 GMT)

GM shares slump as bankruptcy fear grows
General Motors Corp shares plunged 16 percent on Monday as traders shed positions out of fear the U.S. government will push the automaker into a bankruptcy that could wipe out existing equity. (Mon, 13 Apr 2009 23:28:55 GMT)

Bankruptcy Fuels Fear Over Preakness
The bankruptcy of the company that owns Baltimore?s Pimlico Race Course has politicians and the public worried that Maryland could lose its cherished Preakness Stakes. (Tue, 14 Apr 2009 01:14:21 GMT)

GM bankruptcy won't be swift or simple: analysts
A government-steered bankruptcy of struggling automaker General Motors would likely not be swift or simple despite the best efforts of the US Treasury Department, turnaround experts warn. (Tue, 14 Apr 2009 07:38:31 GMT)

GM shares fall in Frankfurt amid bankruptcy fears
Shares in General Motors Corp slumped more than 17 percent in Frankfurt on Tuesday amid growing concern the automaker might file for bankruptcy. (Tue, 14 Apr 2009 08:04:45 GMT)

Madoff Investors Petition to Force Bankruptcy Filing (Update3)
April 13 (Bloomberg) -- Bernard Madoff ’s investors filed an involuntary bankruptcy petition against the convicted money manager to ensure that all of his assets are used to pay victims of his $65 billion Ponzi scheme. (Tue, 14 Apr 2009 08:24:57 GMT)

Group Seeks Bankruptcy For Madoff
A small group of investors took Bernard L. Madoff to bankruptcy court on Monday, saying the disgraced financier bilked them out of nearly $64 million. (Tue, 14 Apr 2009 10:15:52 GMT)

Governor: Michigan `can live with' GM bankruptcy
Michigan's governor says talk about General Motors Corp. declaring bankruptcy "is unhealthy" but says such a filing is something the state "can live with" if it strengthens the automaker. (Tue, 14 Apr 2009 11:38:02 GMT)

Woolworth Deutschland files for bankruptcy
German discount retail chain Woolworth Deutschland has filed for bankruptcy protection amid falling sales and increasing competition, officials said Tuesday. (Tue, 14 Apr 2009 14:23:15 GMT)

GM bankruptcy fears drag down auto stocks
General Motors stock fell sharply in Frankfurt on Tuesday on renewed bankruptcy fears, weighing on autos stocks across the region, as peer Chrysler pinned its hopes on a tie-up with Fiat . (Tue, 14 Apr 2009 14:41:29 GMT)

Z Gallerie files for Ch. 11 bankruptcy protection
Privately held home decor chain Z Gallerie Inc. filed for federal bankruptcy protection this month, saying it was unable to pay its debts and lease obligations amid a three-year sales slump. (Tue, 14 Apr 2009 15:55:57 GMT)

Former European champion Red Star Belgrade on verge of bankruptcy
BELGRADE, Serbia - In 1991, Red Star Belgrade was the European and world champion. Now, the most famous Serbian football club is on the verge of bankruptcy and possible closure. (Tue, 14 Apr 2009 17:59:00 GMT)

Bankruptcy Fuels Fear Over Preakness
The bankruptcy of the company that owns Baltimore?s Pimlico Race Course has politicians and the public worried that Maryland could lose its cherished Preakness Stakes. (Tue, 14 Apr 2009 19:22:41 GMT)

Ohio gift certificate company files for bankruptcy
A company that sold gift certificates to thousands of businesses and individuals around the country has filed for bankruptcy protection. (Tue, 14 Apr 2009 21:24:50 GMT)

UK Madoff liquidators file U.S. bankruptcy petition
The British liquidators of convicted swindler Bernard Madoff's London securities trading firm filed a petition in U.S. bankruptcy court on Tuesday and sued Madoff's brother for the return of a rare Aston Martin car. (Tue, 14 Apr 2009 22:36:19 GMT)

British Madoff bankruptcy seeks car in Palm Beach
Liquidators for a British arm of Bernard Madoff’s securities empire on Tuesday filed for bankruptcy recognition in Palm Beach County, including a lawsuit to recover a 1964 Aston Martin DB2/4 purchased by Madoff’s brother, Peter Madoff. (Wed, 15 Apr 2009 13:44:39 GMT)

Serial bankruptcy filer pleads guilty in Columbia
A Georgia woman has pleaded guilty to lying in bankruptcy papers she had filed in Columbia. Amanda (Wed, 15 Apr 2009 15:24:43 GMT)

Station Casinos extends bankruptcy deadline
Station Casinos has rendered a decision to give its bond holders more time has it considers a plan to file for bankruptcy. Station Casinos was expected to file for Chapter 11 bankruptcy Wednesday, but the company and its lenders have extended the deadline to May 15. (Wed, 15 Apr 2009 15:24:52 GMT)

Bankruptcy wouldn't be catastrophic: Mark Zandi
The prospect of General Motors Corp. filing for bankruptcy protection is "highly likely" and would not trigger the fallout that threatened North America only months ago, says the chief economist of Moody’s Economy.com. (Wed, 15 Apr 2009 15:25:41 GMT)

Madoff Unit Files Bankruptcy, Sues Over Aston Martin (Update1)
April 15 (Bloomberg) -- Madoff Securities International Ltd., the U.K.-based unit of Bernard Madoff ’s money management business, filed for bankruptcy protection in Florida and sued Bernard’s brother Peter for “unjust enrichment.” (Wed, 15 Apr 2009 15:55:43 GMT)

General Growth Properties Files for Bankruptcy
General Growth Properties , the long-struggling mall operator, filed for bankruptcy early Thursday morning, marking one of the largest collapses of a real estate company in history. (Thu, 16 Apr 2009 06:45:13 GMT)

General Growth files for bankruptcy protection
NEW YORK (Reuters) - General Growth Properties Inc , the second largest U.S. mall owner, on Thursday filed for Chapter 11 bankruptcy protection from its creditors, making it one of the biggest victims of the credit crisis yet. (Thu, 16 Apr 2009 07:40:09 GMT)

General Growth files for bankruptcy protection
General Growth Properties Inc, the second largest U.S. mall owner, filed for bankruptcy protection on Thursday in one of the biggest real estate failures in U.S. history. (Thu, 16 Apr 2009 12:12:26 GMT)

General Growth files for bankruptcy protection
General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on Thursday in the biggest real estate failure in U.S. history. (Thu, 16 Apr 2009 14:43:05 GMT)

General Growth Files Biggest U.S. Property Bankruptcy (Update1)
April 16 (Bloomberg) -- General Growth Properties Inc. filed the biggest real estate bankruptcy in U.S. history after amassing $27 billion in debt during an acquisition spree that turned it into the second-largest shopping mall owner. (Thu, 16 Apr 2009 14:44:03 GMT)

Newsprint Maker Seeks Bankruptcy Protection
AbitibiBowater, the largest North American newsprint maker, filed for bankruptcy protection after it failed to secure support for its proposed restructuring plan. (Thu, 16 Apr 2009 15:10:49 GMT)

Mall operator files for bankruptcy protection
The nation's second-largest shopping mall owner, General Growth Properties, filed for Chapter 11 bankruptcy protection Thursday in a tough bargaining move to restructure its $27 billion in debt. (Thu, 16 Apr 2009 15:17:51 GMT)

Don't fret, bankruptcy won't shut your mall
Experts say consumers are unlikely to see their area mall disappear after General Growth Properties, the second-largest mall owner in the country, filed for bankruptcy Thursday. (Thu, 16 Apr 2009 15:37:17 GMT)

AbitibiBowater files for bankruptcy protection
Newsprint maker AbitibiBowater Inc. on Thursday filed for bankruptcy court protection in Canada and the U.S. after deciding there was no other way it could deal with its more than $6 billion debt. (Thu, 16 Apr 2009 15:38:00 GMT)

AbitibiBowater Files Bankruptcy as Refinancing Fails (Update3)
April 16 (Bloomberg) -- AbitibiBowater Inc. , North America’s biggest newsprint maker, sought bankruptcy protection after U.S. lenders refused to accept a proposed debt restructuring. (Thu, 16 Apr 2009 15:43:47 GMT)

A Quick Bankruptcy for G.M.? Not So Fast
Because of workers, bondholders and others who would want a hearing at a General Motors bankruptcy, the proceedings could take months. (Fri, 17 Apr 2009 02:26:05 GMT)

Icahn and Oaktree Said to Push for MGM Mirage Bankruptcy
Will it be pistols at dawn in Vegas for Carl C. Icahn and Kirk Kerkorian? The activist investor and private equity fund Oaktree Capital Management have amassed hundreds of millions of dollars of MGM Mirage bonds and have told the troubled casino firm it should quickly overhaul its massive debts in bankruptcy, The Wall Street Journal reported, citing people familiar with the matter. (Fri, 17 Apr 2009 11:16:22 GMT)

A Quick Bankruptcy for G.M.? Not So Fast
Any hope of a high-speed bankruptcy by General Motors faces a serious obstacle: a judge — not the Obama administration, not G.M. management and not the company’s creditors — would reign in court, The New York Times’s Jonathan D. Glater writes. (Fri, 17 Apr 2009 11:46:32 GMT)

GM CEO warns bankruptcy more probable
General Motors Corp Chief Executive Fritz Henderson said on Friday the automaker could still restructure out of court, but warned it was more probable GM may need to seek bankruptcy protection to complete that process. (Fri, 17 Apr 2009 15:04:21 GMT)

GM CEO: Bankruptcy probable, not preferred
General Motors CEO Fritz Henderson says bankruptcy isn't the company's preferred option, but it's still probable, given the restructuring goals GM must meet to get more government loans. (Fri, 17 Apr 2009 15:16:45 GMT)

GM Still Working on New Plan With U.S. to Avoid Bankruptcy
April 17 (Bloomberg) -- General Motors Corp. is still working with U.S. Treasury officials about its restructuring plan and is trying to avoid bankruptcy, Chief Executive Officer Fritz Henderson said on a conference call. (Fri, 17 Apr 2009 15:31:36 GMT)

GM CEO says bankruptcy probable but not preferred
General Motors Corp. Chief Executive Fritz Henderson said Friday that a bankruptcy filing is "probable" because of the restructuring goals GM must meet to get more government loans, but that isn't the company's preferred option. (Fri, 17 Apr 2009 15:33:29 GMT)

GM CEO Warns Bankruptcy More Probable
GM CEO Warns Bankruptcy More Probable (Fri, 17 Apr 2009 15:34:38 GMT)

GM Executive Says Bankruptcy Still Probable
The troubled automaker is working on two parallel tracks: One involving bankruptcy and one that doesn't, GM Chief Executive Fritz Henderson told reporters in a Friday conference call. (Fri, 17 Apr 2009 15:44:53 GMT)

G.M. Hopes to Make Deadline but Is Preparing for Bankruptcy
The chief executive said the automaker was developing a restructuring plan while simultaneously readying itself for a potential bankruptcy filing. (Fri, 17 Apr 2009 15:55:43 GMT)

GM CEO says bankruptcy probable but not preferred
General Motors Corp. Chief Executive Fritz Henderson said Friday that a bankruptcy filing is "probable" because of the restructuring goals GM must meet to get more government loans, but that isn't the company's preferred option. (Fri, 17 Apr 2009 16:51:02 GMT)

GM CEO warns bankruptcy more probable
General Motors Corp Chief Executive Fritz Henderson said on Friday the automaker could still restructure out of court, but warned it was more probable GM may need to seek bankruptcy protection to complete that process. (Fri, 17 Apr 2009 17:04:39 GMT)

GM readies plans for bankruptcy it hopes to avoid
General Motors Corp Chief Executive Fritz Henderson said on Friday the automaker was readying detailed plans for a bankruptcy filing that now appears more likely even as it races to complete a business plan under federal oversight. (Fri, 17 Apr 2009 19:31:41 GMT)

Pa. woman forges bankruptcy seal to save electric
A Pittsburgh woman made a fake federal bankruptcy court seal on a document in hopes a utility company wouldn't cut off her electric service. Dorothy Hunt, 41, pleaded guilty to the counterfeiting charge Thursday and faces up to five years in prison when she's sentenced Aug. 6. (Sat, 18 Apr 2009 01:02:54 GMT)

Experts: GM bankruptcy won't be the easy way out
A Chapter 11 filing might be the most effective way to overhaul General Motors Corp., but that doesn't mean the sweeping changes that are possible in bankruptcy court are going to be quick or easy. (Sat, 18 Apr 2009 02:08:37 GMT)

GM Chief Says Bankruptcy Is ÂMore Probable' Now Than Ever Before
General Motors chief executive Fritz Henderson said a bankruptcy filing is "more probable" than before given the concessions the company must achieve before the end of May, although it is working to avoid that outcome. (Sat, 18 Apr 2009 03:58:57 GMT)

Bankruptcy Court Approves Sale of Polaroid Assets
Polaroid won bankruptcy court approval to sell itself for $88 million to a joint venture led by two liquidation firms. (Sat, 18 Apr 2009 04:11:57 GMT)

Abitibi-Consolidated Files for Bankruptcy Protection in U.S.
April 18 (Bloomberg) -- Abitibi-Consolidated Inc., Canadian units of Abitibi- Bowater Inc. , sought bankruptcy protection in the U.S. after lenders refused to accept a proposed debt restructuring. (Sat, 18 Apr 2009 05:37:42 GMT)

Abitibi-Consolidated Files for Bankruptcy in U.S. (Update1)
April 18 (Bloomberg) -- Abitibi-Consolidated Inc., Canadian units of AbitibiBowater Inc. , sought bankruptcy protection in the U.S. after lenders refused to accept a proposed debt restructuring. (Sat, 18 Apr 2009 05:41:57 GMT)

CEO: Bankruptcy 'probable' for GM
DETROIT, April 18 (UPI) -- A bankruptcy filing for U.S. automaker General Motors is becoming unavoidable as it runs into trouble in its restructuring efforts, the corporation's CEO says. (Sat, 18 Apr 2009 12:43:16 GMT)

Abitibi-Consolidated Files for Bankruptcy in U.S. (Update2)
April 18 (Bloomberg) -- Abitibi-Consolidated Inc., Canadian units of AbitibiBowater Inc. , sought bankruptcy protection in the U.S. after lenders refused to accept a proposed debt restructuring. (Sat, 18 Apr 2009 23:22:40 GMT)

Bankruptcy wouldn't be catastrophic: Mark Zandi
The prospect of General Motors Corp. filing for bankruptcy protection is "highly likely" and would not trigger the fallout that threatened North America only months ago, says the chief economist of Moody’s Economy.com. (Sun, 19 Apr 2009 07:06:11 GMT)

Bankruptcy filings near record high
Amid rising debt and unemployment, the number of filings for personal bankruptcy is just shy of a record, says a government agency. (Sun, 19 Apr 2009 07:19:24 GMT)

Bankruptcy filings jump in Pierce, Thurston
Thurston County bankruptcy filings rose nearly 50 percent in the first quarter of the year, another (Sun, 19 Apr 2009 07:24:15 GMT)

Bankruptcy filings near record level
Amid rising debt and unemployment, the number of filings for personal bankruptcy is just shy of a record. (Sun, 19 Apr 2009 08:22:54 GMT)

P.G. explores bankruptcy option
Bankruptcy — it's not just for banks and auto manufacturers anymore. Pacific Grove's Budget and Finance Advisory Committee is cautiously probing the implications of the city declaring a Chapter 9 bankruptcy as a solution to its budget woes and entitlement obligations. (Sun, 19 Apr 2009 09:00:29 GMT)

AbitibiBowater gets bankruptcy protection in Canada
Forest products giant AbitibiBowater Inc. has been granted bankruptcy protection in Canada. (Sun, 19 Apr 2009 11:36:11 GMT)

Experts: GM bankruptcy won't be the easy way out
DETROIT -- A bankruptcy filing might be the most effective way to overhaul General Motors Corp., but that doesn't mean the sweeping changes that are possible in bankruptcy court are going to be quick or easy. GM CEO Fritz Henderson... (Sun, 19 Apr 2009 12:30:07 GMT)

Bankruptcy filings up 30 percent in Lynchburg
Lynchburg-area bankruptcy filings rose 30 percent for the first quarter of the year compared to a year ago, according to an analysis of records from the U.S. Bankruptcy Court for the Western District of Virginia. (Sun, 19 Apr 2009 13:50:24 GMT)

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