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Home > Bankruptcy News

Bankruptcy News Apr 2009

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World's biggest newsprint co. files for bankruptcy
Agencies Toronto, April 19: AbitibiBowater Inc., the world biggest newsprint producer and one of Canada's oldest companies, has filed for bankruptcy. The newsprint giant, which has been refused a rescue package by the Canadian government, faces a debt burden of $6 billion. (Sun, 19 Apr 2009 15:53:37 GMT)

Dayton Superior Files Chapter 11 Bankruptcy, Gets Credit Line
April 19 (Bloomberg) -- Dayton Superior Corp ., a maker of metal forms used in concrete construction, said it has voluntarily filed for Chapter 11 bankruptcy protection and received a $165 million credit line. (Mon, 20 Apr 2009 06:08:35 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. (Mon, 20 Apr 2009 10:16:52 GMT)

Report: Nightclub fire victims file for bankruptcy
A published report says at least a dozen victims and families of those killed in a 2003 Rhode Island nightclub fire have filed for bankruptcy protection while awaiting their shares of a $176 million settlement. (Mon, 20 Apr 2009 12:10:40 GMT)

Motor Coach leaves bankruptcy after 7 months
Motor Coach Industries International Inc., the nation's biggest producer of long-distance buses, said Monday that it has emerged from Chapter 11 bankrutpcy, seven months after the privately owned Schaumburg company sought protection from creditors in Delaware federal bankruptcy court. (Mon, 20 Apr 2009 13:34:13 GMT)

CAW readies members for bankruptcy scenario
The CAW is warning its members that a bankruptcy protection filing by Chrysler LLC will cause “tremendous harm to workers, retirees and consumers” as it casts the automaker’s big bank lenders as the villains (Mon, 20 Apr 2009 13:40:00 GMT)

Bankruptcy hearing for Gulfstream Park owner postponed until May
A bankruptcy court hearing on selling the assets of the owner of Gulfstream Park in Hallandale Beach has been postponed until next month. (Mon, 20 Apr 2009 13:42:47 GMT)

Asyst to file for Chapter 11 bankruptcy
Asyst Technologies Inc., a provider of automation products designed to enhance semiconductor and flat panel display manufacturing productivity, said Monday it plans to file a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code. (ASYT) (Mon, 20 Apr 2009 13:54:53 GMT)

Asyst files bankruptcy, looks for buyer
Hit hard by the IC downturn, fab-tool automation vendor Asyst Technologies Inc. has put itself up for sale and filed for bankruptcy. (Mon, 20 Apr 2009 14:35:13 GMT)

Schaumburg bus maker emerges from bankruptcy
Bus maker Motor Coach Industries Inc. announced that it recently emerged from its voluntary Chapter 11 bankruptcy reorganization. About six months ago, the Schaumburg-based company filed for Chapter 11 bankruptcy protection as part of a restructuring that would help shed hundreds of millions of dollars of debt. (Mon, 20 Apr 2009 15:01:16 GMT)

Travel Agency's Bankruptcy Leads to Cancelled Trips
The bankruptcy of an Aurora travel agency has left several would-be travelers at home. (Mon, 20 Apr 2009 15:33:31 GMT)

Judge blocks Madoff bankruptcy
A federal judge Monday blocked Bernard Madoff's assets from being moved into bankruptcy, saying there is probable cause the assets should be forfeited to the government. (Mon, 20 Apr 2009 18:37:27 GMT)

Bankruptcy judge approves Magna financing
A bankruptcy judge has agreed to grant final approval of a modified financing plan for horse-track owner Magna Entertainment Corp. (Mon, 20 Apr 2009 20:30:50 GMT)

Bill Ford Says Bankruptcy by GM Would Be ‘Anything But Easy’
April 21 (Bloomberg) -- Ford Motor Co. , the only U.S. automaker not relying on U.S. aid to survive, said a potential bankruptcy filing by rival General Motors Corp. wouldn’t be quick or easy. (Tue, 21 Apr 2009 03:00:56 GMT)

Bankruptcy judge OKs plan for owner of horse tracks
A bankruptcy judge on Monday agreed to grant final approval of a modified financing plan for horse-track owner Magna Entertainment Corp. (Tue, 21 Apr 2009 06:47:56 GMT)

MARK PHELAN: Bankruptcy no fast cure for GM
The theory that a quick rinse or surgical bankruptcy will return General Motors Corp. to health quickly has no basis in law and little chance of succeeding in reality. That's the consensus among many experts on the auto industry and the legal process. (Tue, 21 Apr 2009 07:16:47 GMT)

MARK PHELAN: GM bankruptcy by any name won't be painless
If it's possible at all, a surgical, or prepackaged, bankruptcy would still lead to job losses, plant closings and economic uncertainty for a huge number of working and retired Americans. (Tue, 21 Apr 2009 07:17:47 GMT)

Dealers prep for GM bankruptcy
Experts are advising car dealers to start preparing themselves for the very real possibility that General Motors (GM) files for bankruptcy protection. (Tue, 21 Apr 2009 14:11:38 GMT)

Bankruptcy for the New York Times?
The prospect of bankruptcy fluttered around the Times's announcement of a first quarter operating loss today. Henry Blodget points out:At the current rate of cash consumption, assuming no one-time expenses , we estimate that the company will max out ... (Tue, 21 Apr 2009 14:30:51 GMT)

Bill Ford Says GM Bankruptcy Wouldn’t Be Quick, Easy (Update1)
April 21 (Bloomberg) -- Ford Motor Co. , the only big U.S. automaker not receiving federal aid, doesn’t want to compete with a “state-owned” General Motors Corp. and said a potential bankruptcy filing by its rival wouldn’t be quick or easy. (Tue, 21 Apr 2009 15:23:36 GMT)

Ghost Town hiring, despite bankruptcy filing
MAGGIE VALLEY – Despite filing for bankruptcy in March, the iconic Ghost Town In The Sky amusement park will be hiring up to 200 people for the upcoming season. (Tue, 21 Apr 2009 15:33:04 GMT)

Motor Coach emerges from bankruptcy protection
Motor Coach Industries Inc., which makes commuter buses and luxury motor coaches, says it has emerged from Chapter 11 bankruptcy protection with a new majority owner. (Tue, 21 Apr 2009 21:44:26 GMT)

Newsweek: Why some creditors push bankruptcy
If a lender or creditor believes it can profit more from a complete failure—i.e., if it has an insurance policy that pays off only in the event of utter devastation—that creditor might be more inclined to push a company toward bankruptcy. And that's exactly what seems to be happening. (Tue, 21 Apr 2009 22:31:36 GMT)

Dairy cooperative files for bankruptcy
Dairy co-op files for bankruptcy The troubled Humboldt Creamery is looking for a buyer after officials filed to reorganize under Chapter 11 bankruptcy protection Tuesday. The cooperative that was the showpiece of a struggling rural economy fell into trouble... (Wed, 22 Apr 2009 07:47:15 GMT)

Madoff Investors Want U.K. Unit Bankruptcy Moved (Update1)
April 21 (Bloomberg) -- Investors who filed to push Bernard Madoff into personal bankruptcy are now seeking to have the bankruptcy case of his business’s U.K. unit, Madoff Securities International Ltd., transferred from Florida to New York. (Wed, 22 Apr 2009 09:39:30 GMT)

Tell us: Are you fighting bankruptcy?
The stigma of bankruptcy grows less as the number of U.S. businesses and individuals declaring bankruptcy rises, due to the recession both nationally and in Brevard. Despite a three-year-old federal law that made it tougher for Americans to escape their debts, bankruptcies have increased dramatically. (Wed, 22 Apr 2009 12:31:37 GMT)

Vermont Bankruptcy Filings Up More Than 100 Percent
Bankruptcy filings by Vermonters are on the rise — and the curve is steeper than in the rest of the country. Statistics provided by the U.S. Bankruptcy Court’s Vermont district show that the number of cases in the state doubled over the past three years — from 623 to 1254, a 101 percent increase — while the national increase during the same period measured 81 percent. “There’s no typical case,” ... (Wed, 22 Apr 2009 14:04:00 GMT)

Southern Graces files for bankruptcy
Southern Graces Catering and Events, which leases two floors in the Sunsphere, has filed for Chapter 11 bankruptcy protection. (Wed, 22 Apr 2009 15:16:02 GMT)

Cox to carmakers: File bankruptcy in Mich.
Michigan Attorney General Mike Cox has urged chief executives of General Motors and Chrysler to consider filing for bankruptcy in Michigan because it would be more convenient for creditors in Michigan. (Wed, 22 Apr 2009 15:26:58 GMT)

Cox to carmakers: File bankruptcy in Mich.
Michigan Attorney General Mike Cox has urged chief executives of General Motors Corp. and Chrysler LLC to consider filing for bankruptcy in Michigan rather than Delaware or New York because it would be more convenient for creditors in Michigan. (Wed, 22 Apr 2009 15:31:57 GMT)

Chrysler Bankruptcy 95% Certain as Time Dwindles, Analyst Says
April 22 (Bloomberg) -- Chrysler LLC has a 95 percent probability of entering bankruptcy as time dwindles before a U.S. deadline of April 30 to cut debt and complete an alliance with Italy’s Fiat SpA , an industry analyst said. (Wed, 22 Apr 2009 15:58:38 GMT)

Daniel Howes: Not so fast on idea of speedy bankruptcy for GM, Chrysler
Whoever thinks a bankruptcy of General Motors Corp. or Chrysler LLC would be "speedy" -- starting with members of President Obama's auto task force and GM CEO Fritz Henderson -- might want to spend some time talking with Larry Denton. (Thu, 23 Apr 2009 05:14:05 GMT)

Cox wants to talk bankruptcy with GM, Chrysler
Michigan Attorney General Mike Cox wants to meet with the heads of General Motors Corp. and Chrysler LLC about the possibility of the automakers filing bankruptcy in another state. (Thu, 23 Apr 2009 05:14:35 GMT)

Chrysler bankruptcy a near guarantee, analyst says
Chrysler LLC has a 95 percent probability of entering bankruptcy as time dwindles before next week's deadline to cut debt and complete an alliance with Italy's Fiat SpA, an industry analyst said Wednesday. (Thu, 23 Apr 2009 06:46:13 GMT)

More General Growth Units Seek Bankruptcy
More General Growth Units Seek Bankruptcy (Thu, 23 Apr 2009 09:45:58 GMT)

Statler bankruptcy hearing today
U. S. Bankruptcy Court Judge Carl L. Bucki will hold a hearing today to determine whether the company that operates the Statler Towers building should be forced into bankruptcy. (Thu, 23 Apr 2009 11:04:39 GMT)

Quebecor expected to emerge from bankruptcy
No jobs lost in Fairfield plant. Quebecor World, a Montreal-based printing company with a plant in Fairfield, is expected in mid-July to come out of bankruptcy protection. (Thu, 23 Apr 2009 12:31:14 GMT)

Dealers: Bankruptcy Shouldn't Be An Option For GM
The National Auto Dealers Association meets with a White House task force on Thursday in hopes of staving off a General Motors bankruptcy. But there are increasing signs the company may end up in court anyway. (Thu, 23 Apr 2009 12:45:09 GMT)

Another Day, Another Bankruptcy, as Opus South Files for Ch. 11
Just days after one of the largest commercial real estate bankruptcies ever--that of retail giant General Growth Properties last week--another high profile firm has filed for Chapter 11. Opus South Corp., one of the divisions of Opus Corp., has also been forced to say Uncle in bankruptcy court, citing the slumping Florida condo market as the main culprit. (Thu, 23 Apr 2009 13:21:33 GMT)

Yacht Haven owner files for bankruptcy
MGM Commercial Wharf LLC, the soon to be former owner of the Boston Yacht Haven development, filed for Chapter 11 bankruptcy Thursday. (Thu, 23 Apr 2009 15:25:18 GMT)

City fights bankruptcy bill
Bankruptcy has been described as an unlikely and unpleasant last resort to settle the Beachwood crisis, but Half Moon Bay city leaders want to ensure the option of protection from creditors is available if all else fails. As a result, they are considering formally opposing state legislation that would make Chapter 9 bankruptcy more difficult for municipalities. (Thu, 23 Apr 2009 15:50:38 GMT)

Auto Retirees Brace for Hardship; Pension Benefits May Suffer in Bankruptcy
As the Obama administration prepares to send Chrysler into bankruptcy court, with General Motors possibly to follow, one of the biggest losers may be the automakers' current and future retirees, a group of nearly 1 million people who could see their pensions and health-care funds slashed by tens of billions of dollars. (Fri, 24 Apr 2009 04:00:00 GMT)

Treasury Prepares Chrysler Bankruptcy as GM Nears Deadline Too
April 24 (Bloomberg) -- The U.S. Treasury Department is preparing a bankruptcy filing for Chrysler LLC only as a matter of “due diligence,” Michigan Senator Debbie Stabenow said in an interview. (Fri, 24 Apr 2009 04:01:00 GMT)

US seeking Chrysler bankruptcy plan: reports
The US Treasury is pressing Chrysler to prepare to file for bankruptcy as early as next week, regardless of whether the troubled automaker ties up with Italy's Fiat before an April 30 deadline, US media reported. (Fri, 24 Apr 2009 07:38:32 GMT)

Chrysler bankruptcy protection not favored: Clement
Canadian Industry Minister Tony Clement said on Thursday that bankruptcy protection is not the preferred option for Chrysler, which the automaker itself has said is a possibility. (Fri, 24 Apr 2009 13:40:38 GMT)

Clement Says Canada Prefers Chrysler-Fiat Deal to Bankruptcy
April 24 (Bloomberg) -- Canadian Industry Minister Tony Clement said his “preferred option” for Chrysler LLC is for the carmaker to reach an agreement with Fiat SpA rather than file for bankruptcy. (Fri, 24 Apr 2009 13:57:02 GMT)

Clement says Chrysler bankruptcy not best option
Canadian Industry Minister Tony Clement said on Friday that bankruptcy protection is not the government's preferred option for Chrysler, although it is a possibility. (Fri, 24 Apr 2009 14:10:52 GMT)

Chrysler aims for Fiat but readies bankruptcy plan
With a week remaining for Chrysler LLC to clinch a deal with Italy's Fiat , the U.S. automaker is readying a bankruptcy plan but still focused on reaching an alliance with the support of the Obama administration, people with knowledge of the discussions said on Thursday. (Fri, 24 Apr 2009 14:13:30 GMT)

Sens. call for Chrysler bankruptcy to be orderly
With Chrysler LLC appearing increasingly likely to seek bankruptcy protection, members of Congress are calling for an orderly process that saves the company from liquidation. (Fri, 24 Apr 2009 15:17:00 GMT)

KKR’s Capmark May File for Bankruptcy After $1.1 Billion Loss
April 24 (Bloomberg) -- Capmark Financial Group Inc., the former GMAC LLC unit owned by KKR & Co. and Goldman Sachs Group Inc., said it may need to file for bankruptcy after posting a $1.1 billion fourth-quarter net loss. (Fri, 24 Apr 2009 15:34:20 GMT)

LyondellBasell Industries Seeks Bankruptcy Protection (Update2)
April 24 (Bloomberg) -- LyondellBasell Industries AF SCA, a Netherlands-based chemical maker, filed for bankruptcy, joining its U.S. affiliate Lyondell Chemical Co. (Fri, 24 Apr 2009 15:54:38 GMT)

Obama Administration Seeks to Keep Chrysler Out of Bankruptcy
In a new proposal sent to the Obama administration's auto task force, Chrysler's creditors are offering to further shrink the amount the troubled automaker owes them, but the company and its lenders are still far from an accord that could save it from bankruptcy. (Fri, 24 Apr 2009 19:15:52 GMT)

Union denies deal on Chrysler bankruptcy
The United Auto Workers on Friday dismissed speculation on a deal with the Obama administration for Chrysler to undergo a "quick rinse" bankruptcy that could lead to a merger with Fiat. (Fri, 24 Apr 2009 19:56:51 GMT)

AP sources: Chrysler could still avoid bankruptcy
With a government-imposed deadline for massive restructuring less than a week away, Chrysler LLC and Treasury Department officials are still holding out hope that they can reach deals to keep the troubled automaker out of bankruptcy court, two people briefed on the talks said Friday. (Fri, 24 Apr 2009 22:39:00 GMT)

RE firm: Bankruptcy due to ex-chairman
Commercial real estate brokerage and auctioneer Sheldon Good & Co. announced Friday that its nine operating entities had sought Chapter 11 bankruptcy protection and blamed the move on "improper actions" taken by its former chairman, Steven Good. After Steven Good's Jan. 5 suicide in Kane County, "debtors discovered that Mr. Good, without authority, had withdrawn substantial monies from the ... (Sat, 25 Apr 2009 02:50:02 GMT)

Task Force Refines Bankruptcy Plan for Chrysler
The Obama administration's autos task force is racing to complete a bankruptcy plan for Chrysler by Monday after the company's creditors -- a fractious collection of 45 banks, hedge funds and financial firms -- balked at a deal to keep the automaker out of court. (Sat, 25 Apr 2009 04:00:00 GMT)

Bankruptcy follows CEO's suicide
Chicago real estate auctioneer Sheldon Good & Co. filed for bankruptcy protection Friday, blaming "improper actions" by former chairman and CEO Steven Good, who in January shot himself to death in a Kane County wildlife preserve. In seeking Chapter 11 protection from its creditors, the company said it hopes to reorganize and that it will continue business as usual. The firm turned to ... (Sat, 25 Apr 2009 10:07:58 GMT)

Chrysler bankruptcy plans drawn up
WASHINGTON, April 25 (UPI) -- Obama administration auto industry task force members Saturday raced to complete a bankruptcy plan for U.S. automaker Chrysler LLC, sources said. (Sat, 25 Apr 2009 12:43:13 GMT)

Flaherty Says Chrysler May Be Able to Avoid Canada Bankruptcy
April 25 (Bloomberg) -- Canadian Finance Minister Jim Flaherty said legal differences might mean Chrysler LLC’s Canadian operation could avoid filing for bankruptcy even if the company sought creditor protection in the U.S. (Sat, 25 Apr 2009 19:28:14 GMT)

GM Fund Manager Sells All Employee Shares on Bankruptcy Risk
April 25 (Bloomberg) -- State Street Bank and Trust Co. , manager of a 401(k) investment fund for General Motors Corp. employees, has sold the majority of its shares in the automaker on concern that the stock could lose all value in a bankruptcy. (Sat, 25 Apr 2009 19:58:12 GMT)

Consumer bankruptcy: A guide
Bankruptcy can help free you from crushing debts and provide a fresh start, but if you're not careful and completely honest, you could end up in worse shape. Here's a look at how it works. As popular as bankruptcy is today, it's nothing new, going at least all the way back to the Bible's Book of Deuteronomy, which simply states: "At the end of every seven years you must cancel debts." (Sun, 26 Apr 2009 00:21:16 GMT)

Sources: Chrysler could still avoid bankruptcy
DETROIT -- With a government-imposed deadline for massive restructuring less than a week away, Chrysler LLC and Treasury Department officials are still holding out hope that they can reach deals to keep the troubled automaker out of bankruptcy court, two people briefed on the talks said Friday. (Sun, 26 Apr 2009 05:26:25 GMT)

Bankruptcy Proceedings
U.S. BANKRUPTCY COURT (Sun, 26 Apr 2009 06:58:39 GMT)

Bankruptcy is invisible to mall shoppers
The bankruptcy of General Growth Properties, the second-largest owner of shopping malls in the nation, has communities wondering what's next for their local shopping center. Salem Center is among the many regional malls pulled into a Chapter 11 reorganization by parent company General Growth. (Sun, 26 Apr 2009 10:14:41 GMT)

General Motors' employee stock fund sells off all company shares as bankruptcy threatens
WASHINGTON (AP) — The manager of General Motors' employee stock fund has sold off all remaining shares of the troubled auto maker, which is closing plants and slashing costs in a bid to avoid bankruptcy. (Sun, 26 Apr 2009 11:51:36 GMT)

Charter faces objections to bankruptcy plan
Charter Communications Inc., a major cable operator controlled by Microsoft co-founder Paul Allen, is facing objections to its reorganization plan that could put a crimp on a fast emergence from Chapter 11 bankruptcy. (Sun, 26 Apr 2009 12:23:25 GMT)

Summers: White House supports Chrysler-Fiat talks; hopes automaker can avoid bankruptcy
WASHINGTON - White House economic adviser Larry Summers is holding out hope that Chrysler can stay out of bankruptcy court. Chrysler LLC is surviving on government loans and has until Thursday to work out a joint venture with Italian automaker Fiat Group SpA. (Sun, 26 Apr 2009 14:18:10 GMT)

Chrysler faces Thursday bankruptcy deadline
WASHINGTON — White House economic adviser Larry Summers is holding out hope that Chrysler can stay out of bankruptcy court. (Sun, 26 Apr 2009 15:01:19 GMT)

Alamance golf course owners file bankruptcy
Almost a year after dozens of neighbors filed a class-action suit against the owners of an Alamance County golf course for allegedly violating covenants meant to keep the property as an 18-hole golf course, the owners have filed for bankruptcy. (Mon, 27 Apr 2009 10:52:00 GMT)

GM to Give Update on New Efforts to Avoid Bankruptcy (Update1)
April 27 (Bloomberg) -- General Motors Corp. , working to beat a June 1 U.S.-ordered bankruptcy deadline, will provide details today on the latest plan to cut costs and keep $15.4 billion in U.S. loans it needs to survive. (Mon, 27 Apr 2009 12:13:37 GMT)

Report: Bankruptcy Won't Hurt Fiat-Chrysler Deal
Fiat still wants to pursue an alliance with Chrysler even if the U.S. automaker is forced to file Chapter 11 bankruptcy protection, a source said Monday. (Mon, 27 Apr 2009 13:04:53 GMT)

GM says it will file for bankruptcy unless bondholders accept stock offer
DETROIT -- General Motors Corp. said this morning it will file for bankruptcy unless bondholders accept the automaker's offer to convert their bonds to GM stock. (Mon, 27 Apr 2009 13:09:55 GMT)

Bankruptcy won't kill Fiat-Chrysler deal: Source
Fiat still wants to pursue an alliance with Chrysler if the U.S. automaker is forced to file Chapter 11 bankruptcy protection from creditors, a source close to the Turin-based automaker said Monday. (Mon, 27 Apr 2009 13:13:43 GMT)

State bankruptcy bill is designed to protect labor contracts
Having driven the state to the brink of bankruptcy, legislators are now moving to make it more difficult for California's cities and counties to put their shaky fiscal houses in order. (Mon, 27 Apr 2009 13:45:26 GMT)

Nortel aims to extend bankruptcy protection to July 30
Nortel Networks, which filed for bankruptcy protection in January and had been planning to exit its protection period on May 1 with a new business plan, has filed a document with the Superior Court of Ontario, Canada, requesting that the protection period instead be extended until July 30. The filing was made after court-appointed auditor Ernst & Young said Nortel needs more time to clarify ... (Mon, 27 Apr 2009 14:35:25 GMT)

Southaven auto dealer files for bankruptcy
A Southaven auto dealership has filed for Chapter 11 bankruptcy. (Mon, 27 Apr 2009 15:13:22 GMT)

Detroit chases grim bankruptcy pickings
Detroit, which could lose a car maker to bankruptcy, hopes to console itself with a big piece of the legal action. (Mon, 27 Apr 2009 15:29:33 GMT)

Lawyers Challenge Limits of 2005 Bankruptcy Act
As the economy tanks and bankruptcy filings soar , bankruptcy lawyers challenging a 2005 law's restrictions on how they can assist debtors contend that there is an urgent need for guidance from the nation's highest court. (Mon, 27 Apr 2009 15:31:16 GMT)

GM, Chrysler in moves to avert bankruptcy
General Motors and Chrysler are making last-ditch efforts to avert bankruptcy and keep government loans flowing by giving up big stakes in the ailing companies in exchange for debt obligations. (Tue, 28 Apr 2009 02:25:03 GMT)

Judge in Va. to get update on Vick bankruptcy
Lawyers for suspended NFL star Michael Vick are headed back to bankruptcy court in Virginia. (Tue, 28 Apr 2009 14:24:55 GMT)

Judge in Va. to get update on Vick bankruptcy
Lawyers for suspended NFL star Michael Vick are headed back to bankruptcy court in Virginia. U.S. Bankruptcy Judge Frank Santoro has scheduled a status hearing Tuesday in Norfolk. Santoro rejected Vick's Chapter 11 plan earlier this month and ordered him to come up with a more realistic one. (Tue, 28 Apr 2009 14:28:38 GMT)

Source Interlink Files for Bankruptcy, Will Privatize (Update3)
April 28 (Bloomberg) -- Source Interlink Cos. , the publisher of Motor Trend, Hot Rod and Street Chopper magazines controlled by billionaire Ron Burkle ’s Yucaipa Cos., sought bankruptcy protection as it moves to become a private company. (Tue, 28 Apr 2009 14:44:10 GMT)

Aides: Chrysler creditors agree to deal to help avert bankruptcy
Washington -- The Treasury Department has reached a deal with Chrysler's secured creditors that could help the Auburn Hills automaker avoid bankruptcy, a person familiar with the matter said Tuesday. (Tue, 28 Apr 2009 14:55:36 GMT)

Theolia CEO Sees Bankruptcy Risk; Shares Slump (Update1)
April 28 (Bloomberg) -- Theolia SA , the French wind power producer planning to sell assets to stem losses, said there’s a risk of bankruptcy, sending the shares down as much as 15 percent. (Tue, 28 Apr 2009 15:08:18 GMT)

Chrysler debt deal reached, bankruptcy may now be avoided
The major banks that loaned Chrysler LLC about $7 billion have agreed to significantly reduce that debt, according to the Treasury Department, a move that could save the struggling automaker from having to file for bankruptcy later this week. (Tue, 28 Apr 2009 15:29:00 GMT)

Creditors’ Deal Could Stave Off Bankruptcy at Chrysler
Chrysler ’s unsecured creditors have reached a preliminary agreement with the Treasury Department that may keep the company out of bankruptcy court, The New York Times reported, citing two people briefed on the matter. (Tue, 28 Apr 2009 15:31:18 GMT)

Chrysler scrambling to stave off bankruptcy
The Treasury Department has reached a tentative agreement with four of Chrysler's major debtholders as the automaker races to stave off bankruptcy, a person familiar with the talks said. (Tue, 28 Apr 2009 15:31:29 GMT)

Kazakhstan BTA Bank Warns Creditors Bankruptcy Is ‘Possibility’
April 28 (Bloomberg) -- BTA Bank , Kazakhstan’s largest lender that last week halted principal payments on its debt, faces the “possibility” of bankruptcy if creditors continue to demand immediate repayment, Chief Executive Officer Anvar Saidenov said. (Tue, 28 Apr 2009 15:49:37 GMT)

Attorneys unlikely to share pain in GM bankruptcy
A General Motors bankruptcy promises plenty of pain for bondholders, workers, dealers and shareholders, but lawyers are likely to reap $1 billion in fees, charging Uncle Sam as much as $1,000 an hour. (Tue, 28 Apr 2009 16:47:43 GMT)

Judge gets update on Michael Vick bankruptcy plan
Michael Vick's revised bankruptcy plan will incorporate many of the suggestions made by a judge who rejected his first proposal, but will still be based largely on resuming his once-lucrative NFL career, a lawyer for the former Atlanta Falcons quarterback said Tuesday. (Tue, 28 Apr 2009 18:15:41 GMT)

Motions in Sun-Times bankruptcy case approved
A Delaware bankruptcy judge has approved several motions in the Chapter 11 case of the Sun-Times Media Group. (Tue, 28 Apr 2009 18:45:14 GMT)

Bankruptcy items drive Frontier Airlines 4Q loss
Bankruptcy expenses drove Frontier Airlines Holdings Inc. to a fourth-quarter loss of almost $161 million, but it reported an operating profit as it continues to look for an investor to take it out of Chapter 11. (Tue, 28 Apr 2009 19:26:14 GMT)

CAW says Fiat warns that Chrysler bankruptcy likely
Ken Lewenza, president of the Canadian Auto Workers union, said on Tuesday that he had met with the head of Italian carmaker Fiat SpA, Sergio Marchionne, who told him that Chrysler is likely to seek bankruptcy protection temporarily in the United States. (Tue, 28 Apr 2009 22:34:56 GMT)

Bankruptcy approval due for AC Tropicana
Atlantic City's Tropicana Casino and Resort is about to enter bankruptcy court, where it will be auctioned off to the highest bidder. (Wed, 29 Apr 2009 13:15:57 GMT)

Atlantic City's Tropicana Casino is expected to get bankruptcy-sale approval
Atlantic City's Tropicana Casino and Resort is about to enter bankruptcy court, where it will be auctioned to the highest bidder. New Jersey's Casino Control Commission is expected to authorize a bankruptcy sale today. The actual filing of a bankruptcy... (Wed, 29 Apr 2009 13:20:35 GMT)

Victor Oolitic, Audax-Owned Limestone Supplier, Files Bankruptcy
April 29 (Bloomberg) -- Victor Oolitic Stone Co., the biggest supplier of Indiana limestone for the construction industry, filed for Chapter 11 bankruptcy protection from its creditors without giving a reason. (Wed, 29 Apr 2009 14:07:48 GMT)

Chrysler, in corner, may choose bankruptcy
AUBURN HILLS, Mich., April 29 (UPI) -- Analysts and White House officials remained uncertain if a month of intense negotiations would keep the third largest U.S. automaker out of bankruptcy court. (Wed, 29 Apr 2009 15:13:07 GMT)

Chrysler Bankruptcy Uncertain a Day Before Deadline (Update1)
April 29 (Bloomberg) -- Chrysler LLC, the third-largest U.S. automaker, faces a deadline of tomorrow to form an alliance with Fiat SpA and qualify for further U.S. aid, and no one can say whether it will avoid a bankruptcy filing. (Wed, 29 Apr 2009 15:14:02 GMT)

Chrysler Bankruptcy Looms as Deal on Debt Falters
Last-minute efforts by the Treasury Department to win over recalcitrant Chrysler debtholders failed Wednesday night, setting up a near-certain bankruptcy filing by the American automaker, The New York Times’s Zachary Kouwe and Micheline Maynard reported, citing people briefed on the talks. (Thu, 30 Apr 2009 11:01:11 GMT)

Chrysler to find out if bankruptcy filing needed
Chrysler will survive. At least for now, even if it's forced into bankruptcy court. (Thu, 30 Apr 2009 12:51:13 GMT)

Chrysler to file for bankruptcy
Chrysler LLC is going to file for bankruptcy, an administration official confirmed to CNN Thursday. (Thu, 30 Apr 2009 13:17:39 GMT)

Chrysler to declare bankruptcy: White House
Ailing US auto giant Chrysler is to declare bankruptcy, a White House official said Thursday adding President Barack Obama would make a statement on the auto industry at midday (1600 GMT). (Thu, 30 Apr 2009 13:18:50 GMT)

Officials tell AP Chrysler will file bankruptcy
Officials tell the AP that Chrysler will file for bankruptcy as talks with creditors fail. (Thu, 30 Apr 2009 13:34:47 GMT)

A Roadmap to a Chrysler Bankruptcy
The battle over how to restructure Chrysler appeared likely to shift from closed-door conference rooms to a bankruptcy court on Thursday, as the carmaker and the Obama administration failed to win the near-unanimous consent they were seeking from Chrysler’s secured lenders. (Thu, 30 Apr 2009 14:16:11 GMT)

Chrysler to file for bankruptcy: White House
Ailing US auto giant Chrysler is to file for bankruptcy protection, after a deal with some of its big creditors fell through, a White House official said Thursday. (Thu, 30 Apr 2009 14:18:00 GMT)

Chrysler to file for bankruptcy as creditors balk
Chrysler will file for bankruptcy protection after major creditors balked at a deal to reduce a big part of the ailing automaker's debt, a White House official said Thursday. (Thu, 30 Apr 2009 14:51:45 GMT)

Chrysler to file for bankruptcy
Chrysler LLC is expected to file for bankruptcy on Thursday after talks to restructure its debt with lenders broke down, a U.S. government official said. (Thu, 30 Apr 2009 15:41:39 GMT)

AP sources: Chrysler to file for bankruptcy
Chrysler will file for bankruptcy after talks with a small group of creditors crumbled just a day before a government deadline for the automaker to come up with a restructuring plan, two administration officials said Thursday. (Thu, 30 Apr 2009 15:47:46 GMT)

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