101 bankruptcy Online Bankruptcy Resources
Home Bankruptcy Guide Bankruptcy Resources Links About
Bankruptcy News Archive
Apr 2015 | Mar 2015 | Feb 2015 | Jan 2015 | Dec 2014 | Nov 2014 | Oct 2014 | Sep 2014 | Aug 2014 | Jul 2014 | Jun 2014 | May 2014 | Apr 2014 | Mar 2014 | Feb 2014 | Jan 2014 | Dec 2013 | Nov 2013 | Oct 2013 | Sep 2013 | Aug 2013 | Jul 2013 | Jun 2013 | May 2013 | Apr 2013 | Mar 2013 | Feb 2013 | Jan 2013 | Dec 2012 | Nov 2012 | Oct 2012 | Sep 2012 | Aug 2012 | Jul 2012 | Jun 2012 | May 2012 | Apr 2012 | Mar 2012 | Feb 2012 | Jan 2012 | Dec 2011 | Nov 2011 | Oct 2011 | Sep 2011 | Aug 2011 | Jul 2011 | Jun 2011 | May 2011 | Apr 2011 | Mar 2011 | Feb 2011 | Nov 2010 | Oct 2010 | Sep 2010 | Aug 2010 | Jul 2010 | Jun 2010 | May 2010 | Apr 2010 | Mar 2010 | Feb 2010 | Jan 2010 | Dec 2009 | Nov 2009 | Oct 2009 | Sep 2009 | Aug 2009 | Jul 2009 | Jun 2009 | May 2009 | Apr 2009 | Mar 2009 | Feb 2009 | Jan 2009 | Dec 2008 | Nov 2008 | Oct 2008 | Sep 2008 | Aug 2008 | Jul 2008 | Jun 2008 | May 2008 | Apr 2008 | Mar 2008 | Feb 2008 | Jan 2008 | Dec 2007 | Nov 2007 | Oct 2007 | Sep 2007 | Aug 2007 | Jul 2007 | Jun 2007 | May 2007 | Apr 2007 | Mar 2007 | Feb 2007 | Jan 2007 | Dec 2006 | Nov 2006 | Oct 2006 | Sep 2006 | Aug 2006 | Jul 2006

Home > Bankruptcy News

Bankruptcy News May 2009

1 2 3 Next

Chrysler bankruptcy judge no stranger to big cases
For Chrysler's sake, it needs a judge who can move it quickly through the Chapter 11 bankruptcy process. By most accounts, Arthur Gonzalez is the right judge. (Fri, 01 May 2009 04:04:24 GMT)

More optimism on economy despite Chrysler bankruptcy
U.S. automaker Chrysler has filed for bankruptcy and entered an industry-changing deal with Italy's Fiat , in the latest big government intervention in the economy to try to deal with the global crisis. (Fri, 01 May 2009 08:02:45 GMT)

After struggle, Chrysler succumbs to bankruptcy
The first sound of the gavel in Chrysler's bankruptcy case might as well be the bang of a starter's pistol. (Fri, 01 May 2009 10:26:11 GMT)

Chrysler Bankruptcy Judge Is Used to Big Cases
The federal bankruptcy judge assigned to the Chrysler case is used to dealing with complicated high-profile cases in which every decision is dissected by legal analysts and the media. In fact, he has done two at once. (Fri, 01 May 2009 11:16:16 GMT)

Chrysler files for bankruptcy, Fiat develop plan
Chrysler filed for bankruptcy, idling most of its plants, but President Barack Obama assured that a quick restructuring in partnership with Italy's Fiat would give the US carmaker "a new lease on life." (Fri, 01 May 2009 11:26:34 GMT)

A Primer on a Chrysler Bankruptcy
Chrysler is the first major automaker since Studebaker in 1933 to try to reorganize in bankruptcy and emerge as a viable company. The process can be complicated. The New York Times’s Micheline Maynard takes a quick look at how it is likely to play out. (Fri, 01 May 2009 11:32:02 GMT)

Chrysler bankruptcy deal with Fiat stuns Detroit
Chrysler's bankruptcy sent shivers through Detroit Friday despite President Barack Obama's confidence that a quick restructuring would give the number three US automaker "a new lease on life" in partnership with Italy's Fiat. (Fri, 01 May 2009 12:58:56 GMT)

Chrysler files for bankruptcy; inks Fiat deal
Chrysler LLC filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat, after being pummeled by sliding auto sales and unable to reach agreement on restructuring its debt. (Fri, 01 May 2009 13:21:06 GMT)

Chrysler Workers Await Bankruptcy Fallout
Fears that a Chrysler LLC bankruptcy could devastate southeast Michigan and harm Chrysler workers and retirees nationwide were abating somewhat as details of the deal were released. (Fri, 01 May 2009 14:30:04 GMT)

Chrysler is in court today for bankruptcy hearing
Attorneys packed a downtown Manhattan courtroom Friday morning for Chrysler's first hearing that may signal whether a quick, "surgical" bankruptcy will be possible for the automaker. (Fri, 01 May 2009 15:46:29 GMT)

Chrysler in court to bid for quick bankruptcy exit
Chrysler and its creditors went into bankruptcy court Friday as the ailing automaker launched its bid for a quick restructuring to get a fresh start in partnership with Italian-based Fiat. (Fri, 01 May 2009 16:11:14 GMT)

Chrysler's speedy bankruptcy case gets started
Attorneys for Chrysler LLC will ask a federal bankruptcy judge Monday to let the ailing automaker start using a new infusion of $4.5 billion in loans from the Treasury Department so it can operate under bankruptcy protection. (Fri, 01 May 2009 16:41:10 GMT)

Chrysler's `speedy' bankruptcy case gets started
Attorneys for Chrysler LLC will ask a federal bankruptcy judge Monday to let the ailing automaker start using a new infusion of $4.5 billion in loans from the Treasury Departmentto keep operating under bankruptcy protection. (Fri, 01 May 2009 18:09:36 GMT)

Chrysler Takes First Steps in Bankruptcy Court
Deliberations on the fate of Chrysler shifted from Washington to a Manhattan courtroom on Friday as lawyers for the automaker sought to clear the way through bankruptcy, sell or transfer Chrysler’s operations, and keep paying its workers their salaries and benefits, The New York Times’s Zachery Kouwe reports. (Fri, 01 May 2009 18:16:12 GMT)

Chrysler Outlines Bankruptcy Plans, Idles Plants
NEW YORK, May1 -- Lawyers for Chrysler told a bankruptcy judge here this morning that the automaker has idled its plants, kicking off a "surgical" process President Obama has vowed will give Chrysler a new lease on life. (Fri, 01 May 2009 18:18:53 GMT)

Chrysler to Keep Paying Warranties in Bankruptcy, Treasury Says
May 1 (Bloomberg) -- Chrysler LLC will continue to pay for warranty repairs while in bankruptcy, the Treasury Department said after President Barack Obama assured potential car buyers that the government would backstop claims if needed. (Fri, 01 May 2009 21:59:10 GMT)

Dodge drivers stay hopeful after Chrysler's bankruptcy filing
News of Chrysler's bankruptcy filing and the pending sale of most of its assets to Fiat reverberated through the NASCAR garage, ... (Sat, 02 May 2009 01:38:22 GMT)

Chrysler Bankruptcy Won’t Interrupt Warranties, Treasury Says
May 2 (Bloomberg) -- Chrysler LLC’s bankruptcy filing this week won’t keep it from honoring warranties on its vehicles, the Treasury Department said after President Barack Obama assured car buyers that the government would backstop claims if needed. (Sat, 02 May 2009 04:00:01 GMT)

Bankruptcy hindering Chrysler operations
DETROIT, May 2 (UPI) -- The realities of U.S. automaker Chrysler's bankruptcy filing are sinking in with the company's day-to-day operations, a manufacturing official says. (Sat, 02 May 2009 11:43:09 GMT)

Columbian seeks Chapter 11 bankruptcy protection
The company that publishes The Columbian newspaper in Vancouver, Wash., has filed for Chapter 11 bankruptcy protection in an effort to resolve credit issues involving a building project. (Sat, 02 May 2009 15:25:56 GMT)

GM could follow Chrysler into bankruptcy: analysts
General Motors could soon follow Chrysler into bankruptcy protection and the process is unlikely to be simple or swift for either troubled automaker, analysts warned. (Sun, 03 May 2009 04:51:45 GMT)

Union leader says Chrysler bankruptcy necessary evil
KENOSHA — While plans to temporarily shut down the Chrysler engine plant surprised a local union leader, he said the company’s bankruptcy filing is a necessary evil. (Sun, 03 May 2009 05:35:20 GMT)

GM could follow Chrysler into bankruptcy, say analysts
DETROIT, Michigan: General Motors could soon follow Chrysler into bankruptcy protection and the process is unlikely to be simple or swift for either troubled automaker, analysts warned. (Sun, 03 May 2009 06:33:52 GMT)

Tony Mendoza: Putting checks, balances into municipal bankruptcy
The Bee's editorial "Who's behind the bankruptcy bill …" dramatically misses the point and essence of the legislative intent of my bill, Assembly Bill 155. (Sun, 03 May 2009 07:11:37 GMT)

How bankruptcy affects future of battered Chrysler
The U.S. government expects Chrysler to spend one to two months in bankruptcy under a plan announced on Thursday. (Sun, 03 May 2009 07:27:41 GMT)

Hergüner Bilgen Özeke Turkey: Stay Of Bankruptcy Under Turkish Execution And Bankruptcy Law
Pursuant to Article 179 of the Turkish Execution and Bankruptcy Code (the " TEBC "), an insolvent debtor is entitled to apply to the commercial court and suggest a proposal for restructuring its debts and strengthening its financial status. (Sun, 03 May 2009 08:21:59 GMT)

McCotter: Rushed process led to Chrysler bankruptcy
U.S. Rep. Thaddeus McCotter, R-Livonia, said Friday that the process that led Chrysler to file for bankruptcy Thursday didn't give the company enough time or support to work out the details. (Sun, 03 May 2009 11:22:48 GMT)

Chrysler filing for bankruptcy protection
Chrysler is filing for Chapter 11 Bankruptcy Protectiion in New York City, after a group of creditors failed to sign off on a deal that would reduce its debt load and allow Fiat to take a stake in the company that closed its Newark plant last year. (Sun, 03 May 2009 11:31:13 GMT)

TRENTON: Chrysler bankruptcy shocks employees at engine plant
TRENTON — Employees at Chrysler LLC’s Trenton Engine Plant were stunned Thursday after learning about the company’s Chapter 11 bankruptcy filing. (Sun, 03 May 2009 12:29:35 GMT)

Suppliers could follow Chrysler into bankruptcy
Scores of auto suppliers could follow Chrysler into bankruptcy as massive production cuts wipe out revenues to an already stressed and highly integrated industry, analysts warned. (Mon, 04 May 2009 07:53:21 GMT)

Chrysler Makes a GM Bankruptcy Harder
Chrysler's bankruptcy makes the odds that GM willfollow unlikely, unless the government wants tobring down other sectors (Mon, 04 May 2009 12:22:42 GMT)

Filene’s Basement Files for Chapter 11 Bankruptcy Protection
May 4 (Bloomberg) -- Filene’s Basement Inc., the century- old clothing chain, filed for Chapter 11 bankruptcy protection for the second time in the past decade. (Mon, 04 May 2009 12:29:09 GMT)

Filene’s Basement files for bankruptcy
Discount retailer Filene’s Basement says it has filed for Chapter 11 bankruptcy protection, less than two weeks after its new owner said it was reviewing “all available options.” (Mon, 04 May 2009 13:17:04 GMT)

Filene's Basement files for bankruptcy
Discount retailer Filene's Basement says it has filed to reorganize under Chapter 11 bankruptcy protection, less than two weeks after its new owner said it was reviewing "all available options." (Mon, 04 May 2009 13:38:39 GMT)

GM Bankruptcy Probable as Obama Shields UAW Benefits
May 4 (Bloomberg) -- General Motors Corp. may be more likely to end up in bankruptcy based on the Obama administration’s willingness to place Chrysler LLC into court protection to safeguard union health-care benefits. (Mon, 04 May 2009 13:41:15 GMT)

Filene's Basement files for bankruptcy protection
Off-price retailer Filene's Basement joins the growing roster of retailers in bankruptcy, filing for Chapter 11 protection from creditors as it agrees to sell 17 of its 25 stores to real estate and asset management firm Crown Acquisitions. (Mon, 04 May 2009 13:47:52 GMT)

FOXBusiness: Filene's Basement Files for Bankruptcy- FOXBusiness: Stocks Surge After Housing Data
NEW YORK--Filene's Basement on Monday filed for Chapter 11 bankruptcy protection and said it agreed to sell 17 of its 25 stores, including its flagship locations in Boston and Manhattan's Union Square, to real estate and asset management firm Crown Acquisitions. (Mon, 04 May 2009 14:41:04 GMT)

Filene's Declares Bankruptcy, DSW in Trouble
Filene's Basement filed for Chapter 11 bankruptcy protection, a move that may also damage shoe chain DSW. (Mon, 04 May 2009 14:42:26 GMT)

Filene's Files For Bankruptcy Reorganization
Discount retailer Filene's Basement says it has filed to reorganize under Chapter 11 bankruptcy protection. The privately held company also reached a deal that would allow a Crown Acquisitions affiliate to buy 17 of its 25 stores, including its flagship locations in Boston and New York. (Mon, 04 May 2009 15:29:51 GMT)

Chrysler’s Bankruptcy Budget: 9 Weeks, $4.1 Billion
An adviser to Chrysler disclosed in a court filing Monday that the company expects the bankruptcy case to last for nine weeks, meaning it would emerge from court protection in early July. The automaker does not expect to receive dealer orders or reopen its plants until the bankruptcy is concluded. (Mon, 04 May 2009 19:01:22 GMT)

Chrysler seeking quick fix for bankruptcy
Chrysler LLC is seeking a quick resolution to its bankruptcy filing so it can move ahead with its merger. (Mon, 04 May 2009 21:02:28 GMT)

AP Interview: GM CEO says bankruptcy avoidable
With just a month left to check off an almost insurmountable list of restructuring moves, General Motors Corp.'s new CEO says it's still possible that the company can finish everything and avoid following Chrysler into bankruptcy. (Mon, 04 May 2009 21:44:42 GMT)

Is Chrysler's bankruptcy cloud becoming GM's silver lining?
Now that Chrysler is in bankruptcy, bondholders at GM may see that threat as real, and be willing to negotiate a deal as the firm tries to reduce obligations to the union and creditors. Chrysler's woes could turn out to be a blessing for General Motors Corp., paving a clearer path for the troubled company to avoid bankruptcy. (Tue, 05 May 2009 05:34:34 GMT)

General Growth Overreached in Bankruptcy Case, Lenders Say
May 5 (Bloomberg) -- A group of lenders said General Growth Properties Inc., which filed the biggest real-estate bankruptcy in U.S. history, included in its reorganization shopping malls that don’t face any imminent financial problems. (Tue, 05 May 2009 05:58:58 GMT)

Chrysler bankruptcy has dealers on "razor's edge"
Chrysler's car dealership network is on the verge of collapse, a U.S. bankruptcy court heard on Monday, as hundreds of dealerships have closed their doors this year and uncertainty about the company's future is driving consumers away. (Tue, 05 May 2009 08:24:21 GMT)

Chrysler Bankruptcy May Not Dent Economy as Cutbacks Were Set
May 5 (Bloomberg) -- Chrysler LLC’s bankruptcy may not rattle the U.S. economy even as the automaker idles all assembly plants for at least 30 days while it reorganizes. (Tue, 05 May 2009 10:16:24 GMT)

Sonic restructures debt, avoids bankruptcy
Sonic Automotive officials said this morning that they have successfully renegotiated the company's debt, allowing one of the nation's largest auto dealers to avoid filing for bankruptcy protection. (Tue, 05 May 2009 13:45:25 GMT)

Filene's Basement files for Chapter 11 bankruptcy
Discount retailer Filene's Basement said yesterday that it has filed to reorganize under Chapter 11 bankruptcy protection, less than two weeks after its new owner said it was reviewing "all available options." (Tue, 05 May 2009 15:16:57 GMT)

Bankruptcy or IVA - what's the best way to go bust?
Those who have hit the buffers financially may still have options. We explain the difference between a bankruptcy and an IVA (Tue, 05 May 2009 15:18:26 GMT)

Bankruptcy judge mulls Chrysler plan, GM talks loom
A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government. (Tue, 05 May 2009 23:37:04 GMT)

NHL says it will represent 'Yotes in bankruptcy
NEW YORK (AP) -- Angered by the Phoenix Coyotes' bankruptcy filing, the NHL stripped owner Jerry Moyes of the authority to run the club. (Wed, 06 May 2009 01:39:26 GMT)

Business news: GMAC can avoid bankruptcy
GMAC Financial Services said Tuesday that it will not be automatically forced to file for bankruptcy protection if General Motors Corp. is unable to restructure itself by its government-imposed deadline. (Wed, 06 May 2009 07:28:22 GMT)

Madoff Bankruptcy Cases Should Be Combined, Trustee Tells Judge
May 6 (Bloomberg) -- Irving Picard , the trustee liquidating Bernard L. Madoff Investment Securities LLC, said he wants to consolidate the Chapter 11 bankruptcy proceeding of the business with the Chapter 7 bankruptcy of Madoff’s estate. (Wed, 06 May 2009 09:30:33 GMT)

Duke: Bankruptcy possible for Crescent Resources
Charlotte-based development company Crescent Resources could file for bankruptcy protection as it struggles with the slumping real estate market, a Duke Energy executive told the Observer on Tuesday. (Wed, 06 May 2009 11:29:53 GMT)

Chrysler Bankruptcy Lawyers Reap Fees Illegally, Professor Says
May 6 (Bloomberg) -- Bankruptcy lawyers who stand to make as much as $372 million in the reorganization of Chrysler LLC will be doing so illegally, according to a California law professor. (Wed, 06 May 2009 12:13:38 GMT)

NHL to Investigate Phoenix Coyotes’ Bankruptcy-Court Filing
May 6 (Bloomberg) -- The National Hockey League said it is investigating the propriety of the Chapter 11 bankruptcy filing by the Phoenix Coyotes that could result in the franchise relocating to Canada. (Wed, 06 May 2009 13:56:46 GMT)

Chrysler lenders want secrecy in bankruptcy case
Chrysler LLC secured lenders who oppose a bankruptcy plan to sell most of the carmaker's assets to an entity managed by Fiat SpA will ask on Tuesday that their names be kept secret because some received death threats, their lawyer said. (Wed, 06 May 2009 14:54:50 GMT)

Crunch Fitness Files for Bankruptcy in New York (Update3)
May 6 (Bloomberg) -- Crunch Fitness , a gym operator with 73,000 members and clubs in six U.S. cities, filed for bankruptcy protection from creditors in New York, citing slowing membership and overpriced leases for some locations. (Wed, 06 May 2009 15:07:57 GMT)

Chrysler to file for bankruptcy
Ailing US auto giant Chrysler is to file for bankruptcy protection, unable to complete its out-of-court restructuring, a White House official said on Thursday. The official said President Barack Obam (Wed, 06 May 2009 15:30:44 GMT)

Chrysler bankruptcy: Test drive for GM
Will General Motors succeed in its efforts to restructure itself and turn the embattled automaker around? That could depend on how well the bankruptcy process plays out over the next month at rival Chrysler LLC. (Wed, 06 May 2009 19:48:33 GMT)

NHL plans court showdown over Coyotes' bankruptcy
The National Hockey League is planning a showdown in court over the Phoenix Coyotes' filing for Chapter 11 bankruptcy and the proposed sale of the team to Blackberry boss Jim Balsillie. (Thu, 07 May 2009 01:00:17 GMT)

Court to hear motions in Magna bankruptcy
Attorneys for the state of Maryland and city of Baltimore are asking a judge to reconsider an order issued in the bankruptcy case of horse track owner Magna Entertainment Corp. (Thu, 07 May 2009 04:09:54 GMT)

GM Loss Is Smaller Than Estimates as Bankruptcy Deadline Nears
May 7 (Bloomberg) -- General Motors Corp. posted a $5.9 billion first-quarter loss that was narrower than analysts’ estimates as it pressed stakeholders to forgive $44 billion in debt before a government-imposed June 1 bankruptcy deadline. (Thu, 07 May 2009 11:58:10 GMT)

GM Loss Beats Estimates as Bankruptcy Deadline Nears (Update1)
May 7 (Bloomberg) -- General Motors Corp. posted a $5.9 billion adjusted loss that was narrower than analysts’ estimates as it pressed stakeholders to forgive $44 billion in debt before a U.S.-imposed June 1 bankruptcy deadline. (Thu, 07 May 2009 13:00:18 GMT)

GM Posts $5.9 Billion Loss as U.S. Bankruptcy Deadline Nears
May 7 (Bloomberg) -- General Motors Corp. posted a $5.9 billion adjusted loss as sales fell almost in half, buttressing its case for stakeholders to forgive $44 billion in debt before a U.S.-imposed June 1 bankruptcy deadline. (Thu, 07 May 2009 14:13:53 GMT)

GM Has $5.9 Billion Loss as Bankruptcy Deadline Nears (Update1)
May 7 (Bloomberg) -- General Motors Corp. posted a $5.9 billion adjusted loss as sales fell by almost half, ratcheting up the prospect of a bankruptcy filing by a U.S.-imposed June 1 deadline. (Thu, 07 May 2009 15:13:11 GMT)

Do Bankruptcy Lawyers Bill Illegally?
Many have marveled recently at the amounts Jones Day, Schulte Roth & Zabel, and Weil, Gotshal & Manges have billed in the country's two most-watched Chapter 11 cases, Chrysler and Lehman Brothers. But are those fees illegal? According to a new study, the answer might be yes. The study's UCLA co-authors argue that bankruptcy judges allow lawyers to bill their debtor clients for months at a time ... (Thu, 07 May 2009 15:16:04 GMT)

NY steel company seeks bankruptcy reorganization
A suburban Syracuse steel company says the ongoing decline in the automotive industry is forcing it into bankruptcy reorganization. (Thu, 07 May 2009 15:42:08 GMT)

Delphi gets two-week delay to reach bankruptcy exit deal
Washington -- Delphi Corp. will get another two-week extension to try to complete a plan to emerge from bankruptcy, after a key hearing on its restructuring plan was delayed today. (Thu, 07 May 2009 15:57:06 GMT)

GM draws closer to bankruptcy in first quarter
General Motors drew closer to bankruptcy Thursday, acknowledging that its revenue fell by nearly half as car buyers worldwide steered away from showrooms for fear that the auto giant would not be around to honor its warranties. (Thu, 07 May 2009 20:35:20 GMT)

NHL says it controls 'Yotes, seeks bankruptcy dismissal
The NHL says it has been in control of the Phoenix Coyotes since last November and is asking a federal judge to throw out the team's bankruptcy filing. (Fri, 08 May 2009 00:24:28 GMT)

AUTOMAKER OUT $6 BILLION IN 1Q: GM loss shows risk of a drawn-out bankruptcy
General Motors' dismal performance in the first three months of the year shows why a bankruptcy, if one is necessary, must be swift. (Fri, 08 May 2009 07:16:47 GMT)

GM draws closer to bankruptcy protection
General Motors drew closer to bankruptcy Thursday, acknowledging that its revenue fell by nearly half as car buyers worldwide steered away from showrooms for fear that the auto giant would not be around to honor its warranties. The company lost $6 billion in... Related: General Motors - Bankruptcy - Business - Bankruptcy protection - Automobile (Fri, 08 May 2009 07:35:17 GMT)

Hockey League Seeks Control of Coyotes in Bankruptcy (Update4)
May 7 (Bloomberg) -- The National Hockey League asked a federal judge to halt most court action in the bankruptcy case of the Phoenix Coyotes until deciding who controls the team. (Fri, 08 May 2009 12:27:02 GMT)

Calpine sheds bankruptcy costs, posts profit
Calpine Corp. says Friday it swung to a profit as the operator of 76 power plants in North America moved past year-ago costs for its emergence from bankruptcy. (Fri, 08 May 2009 13:19:06 GMT)

NHL says it controls Coyotes, seeks bankruptcy dismissal
The National Hockey League said it has been in control of the Phoenix Coyotes since November and is asking a federal judge to throw out the team's bankruptcy filing. NHL deputy commissioner Bill Daly said Coyotes owner Jerry Moyes signed documents giving control of the team to the league. Daly said the documents specifically prohibit Moyes from taking the franchise into bankruptcy. (Fri, 08 May 2009 13:54:48 GMT)

Air Canada says aims to avoid bankruptcy filing
Air Canada said on Friday that it is working to avoid filing for bankruptcy protection, a move that analysts had speculated the country's largest airline would need as it faces a raft of challenges. (Fri, 08 May 2009 14:01:54 GMT)

BANKRUPTCY PROCEEDINGS: 2 Chrysler debt holders withdraw objection
Two of the five debt holders opposing Chrysler's bankruptcy withdrew their objections today, dealing what may be a near fatal blow to the case argued by investors holding out for more money. (Fri, 08 May 2009 14:15:18 GMT)

Two more Chrysler creditors drop bankruptcy objection
Washington -- OppenheimerFunds and Stairway Capital, two of a group of dissident lenders seeking to disrupt Chrysler LLC's bankruptcy reorganization, said Friday they were withdrawing from a group of holdout lenders. (Fri, 08 May 2009 14:26:58 GMT)

Holdouts drop opposition to Chrysler bankruptcy plan
A group of lenders to troubled automaker Chrysler withdrew their court challenge Friday against a government-backed bankruptcy restructuring plan for the auto giant, their lawyer said. (Fri, 08 May 2009 19:06:14 GMT)

Frontier seeks to extend bankruptcy plan deadline
Frontier Airlines is asking for more time to propose its bankruptcy reorganization plan. (Fri, 08 May 2009 21:39:08 GMT)

Creditors drop opposition to Chrysler bankruptcy plan
Chrysler's efforts to restructure under the watchful eye of a bankruptcy judge picked up momentum Friday after a group of creditors dropped their objections. (Fri, 08 May 2009 22:40:23 GMT)

Experts say GM bankruptcy almost inevitable
For General Motors Corp., the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable. (Sat, 09 May 2009 00:54:35 GMT)

Chrysler bankruptcy creates lemon law turmoil
Buyers of defective cars see settlement checks bounce and complaints stymied. To get their refunds, Bankruptcy Court must approve. Chrysler says it's not a priority. Chrysler's bankruptcy is throwing a wrench into California's lemon law, which is intended to make it easier for consumers to get refunds for defective vehicles. As the automaker's bankruptcy grinds away, settlement checks from ... (Sat, 09 May 2009 02:36:40 GMT)

Chrysler holdouts drop the fight, clearing way out of bankruptcy
The surrender Friday of a group of Chrysler's dissatisfied lenders removed the largest remaining obstacle to the automaker's quick emergence from bankruptcy. (Sat, 09 May 2009 05:13:18 GMT)

Investors drop legal fight over Chrysler bankruptcy
Five investment firms abandoned their legal challenge to Chrysler LLC's bankruptcy plan Friday, removing the toughest legal obstacle so far to a $10.5-billion government-backed alliance between the automaker and Fiat SpA. (Sat, 09 May 2009 07:14:51 GMT)

GM to Pay Some Suppliers Before Bankruptcy Deadline (Update1)
May 8 (Bloomberg) -- General Motors Corp. , facing a June 1 deadline to reorganize out of court or file for bankruptcy protection, will speed payments owed June 2 to May 28 to some partsmakers. (Sat, 09 May 2009 09:40:19 GMT)

W.R. Grace Acquittal Clears Way for End to 8-Year Bankruptcy
May 9 (Bloomberg) -- W.R. Grace & Co. , facing a possible $280 million fine for poisoning a Montana town in the largest environmental prosecution in U.S. history, was found not guilty, clearing the way for its exit from 8 years of bankruptcy. (Sat, 09 May 2009 09:47:11 GMT)

Germany has plan for Opel if GM bankruptcy: paper
Germany has a plan to protect the assets of carmaker Opel from creditors if its U.S. parent General Motors is forced into bankruptcy next month, German Economy Minister Karl-Theodor zu Guttenberg said in an interview with a German weekly. (Sat, 09 May 2009 17:18:46 GMT)

W.R. Grace Acquittal Clears Way for End to Bankruptcy (Update1)
May 9 (Bloomberg) -- W.R. Grace & Co. , facing a possible $280 million fine for poisoning a Montana town in the largest environmental prosecution in U.S. history, was found not guilty, clearing the way for its exit from eight years of bankruptcy. (Sat, 09 May 2009 21:22:19 GMT)

Chrysler lenders want secrecy in bankruptcy case
Chrysler LLC secured lenders who oppose a bankruptcy plan to sell most of the carmaker's assets to an entity managed by Fiat SpA will ask on Tuesday that their names be kept secret because some received death threats, their lawyer said. (Sat, 09 May 2009 21:38:10 GMT)

Bankruptcy boom
Photo: Bankruptcy lawyer Jerold Greenker and his wife, Connie Petersen-Greenker came to Santa Fe hoping to start new careers as gallery owners and landlords to vacationers. Now they find themselves in familiar territory, filing for bankruptcy. (Sun, 10 May 2009 03:39:13 GMT)

Westfall residents are backing township’s bankruptcy decision
WESTFALL More than 30 local citizens filled the township meeting room for an hour-long Apr. 29 informational meeting on Westfall’s impending bankruptcy filing. (Sun, 10 May 2009 06:44:39 GMT)

GM, union clash as bankruptcy looms for auto giant
General Motors is sparring with its main union over plans to shut US plants and outsource production to Mexico and Asia as bankruptcy looms over the troubled automaker, union sources said. (Sun, 10 May 2009 07:35:32 GMT)

GM, union clash as bankruptcy looms for auto giant
DETROIT, Michigan: General Motors is sparring with its main union over plans to shut US plants and outsource production to Mexico and Asia as bankruptcy looms over the troubled automaker, union sources said. (Sun, 10 May 2009 08:18:51 GMT)

Frontier asks bankruptcy court for more time to submit reorganization plan
Frontier Airlines, now under Chapter 11 protection, on Friday asked a bankruptcy court for more time to submit a reorganization plan, a spokesman confirmed. (Sun, 10 May 2009 09:59:10 GMT)

Del.Bankruptcy Court approves Tropicana plans
The US Bankruptcy Court in Delaware today approved Tropicana Entertainment, LLC’s creditor-supported plans of reorganization, which include an exit financing commitment from Icahn Capital. (Sun, 10 May 2009 12:18:09 GMT)

Developer with North Little Rock ties files bankruptcy
Mitchell Massey’s troubles continue. Massey, the Fayetteville real estate developer with extensive holdings in North Little Rock through a variety of shell corporations, filed for chapter 7 bankruptcy at the end of April. (Sun, 10 May 2009 15:39:49 GMT)

Experts say GM bankruptcy almost inevitable
For General Motors Corp., the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable. (Mon, 11 May 2009 04:00:44 GMT)

Germany Has Opel Plan if G.M. Files for Bankruptcy
Germany has a plan to protect the assets of carmaker Opel from creditors if its parent, General Motors , is forced into bankruptcy next month, German Economy Minister Karl-Theodor zu Guttenberg said in an interview with a German weekly. (Mon, 11 May 2009 11:01:11 GMT)

G.M. Bankruptcy Is Said to Seem Inevitable
For General Motors , the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable, The Associated Press reported. (Mon, 11 May 2009 11:18:12 GMT)

High Plains Real Estate Group Files for Bankruptcy Protection
May 11 (Bloomberg) -- High Plains Real Estate Group LLC, owner of real property in Utah, sought bankruptcy protection from creditors without giving a reason. (Mon, 11 May 2009 15:07:48 GMT)

GM chief says bankruptcy more likely
DETROIT, May 11 (UPI) -- General Motors Corp.'s chief executive officer said the odds of the largest U.S. automaker filing for bankruptcy have increased but not yet a sure bet. (Mon, 11 May 2009 15:13:07 GMT)

GM CEO says tasks are large to avoid bankruptcy
DETROIT -- Bankruptcy protection for the nation's biggest automaker is becoming more probable with a deadline just over two weeks away, the company's top executive said today. (Mon, 11 May 2009 15:21:33 GMT)

Bankruptcy Depends on Bondholders, G.M. Chief Says
General Motors does not plan to sweeten its debt exchange offer to bondholders, even though its failure would probably push the company into bankruptcy, the company?s chief executive said. (Mon, 11 May 2009 15:25:43 GMT)

Bankruptcy 'more probable' than not at GM: chief
General Motors' chief executive said Monday that a bankruptcy filing appears increasingly likely as the auto giant struggles to radically restructure. (Mon, 11 May 2009 15:33:03 GMT)

GM CEO says tasks are large to avoid bankruptcy
Bankruptcy protection for the biggest U.S. automaker is becoming more probable with a deadline just over two weeks away, the company's top executive told reporters Monday. (Mon, 11 May 2009 15:37:48 GMT)

GM CEO says tasks are large to avoid bankruptcy
Bankruptcy protection for the nation's biggest automaker is becoming more probable with a deadline just over two weeks away, the company's top executive told reporters Monday. (Mon, 11 May 2009 15:38:56 GMT)

Adviser fees approved in Sun-Times bankruptcy case
A bankruptcy judge in Delaware has approved fee changes for the financial adviser and investment banker for the Chicago Sun-Times publisher. (Mon, 11 May 2009 19:22:41 GMT)

G.M. Bondholders: Don’t Blame Us for a Bankruptcy
We’re not the ones pushing for a G.M. bankruptcy. Eric Siegert, a senior managing director of Houlihan Lokey Howard & Zukin who is representing a committee of unsecured bondholders, told DealBook in an interview on Monday that G.M.’s bondholders, who own more than $27 billion in debt, are seeking only to be treated fairly in a restructuring of the company. (Mon, 11 May 2009 20:31:13 GMT)

Canada says GM bankruptcy option is on the table
General Motors Corp would have to provide adequate warning if it planned to file for bankruptcy protection or it would risk bringing further distress to the automotive industry, Canada's industry minister said on Monday. (Mon, 11 May 2009 20:58:18 GMT)

GM CEO says tasks are large to avoid bankruptcy
Bankruptcy protection for the nation's biggest automaker is becoming more probable with a deadline just over two weeks away, the company's top executive told reporters Monday. (Mon, 11 May 2009 22:01:08 GMT)

GM ponders bankruptcy
GENERAL Motors is teetering on the brink of bankruptcy and is reviewing its overseas operations, the car giant's chief said yesterday. (Tue, 12 May 2009 14:00:00 GMT)

General Motors shares fall as new stock offering, bankruptcy threat scare investors
DETROIT - Shares of General Motors Corp. tumbled to their lowest level since 1933 Tuesday morning as investors feared significant dilution of their stock values or bankruptcy as the company approached a June 1 restructuring deadline. (Tue, 12 May 2009 14:54:51 GMT)

Bankruptcy judge OKs payments to MLN workers
A federal bankruptcy judge has approved a $2.7 settlement to workers of a defunct Connecticut mortgage company that shut down in 2007. (Tue, 12 May 2009 15:28:47 GMT)

Wheel maker Hayes Lemmerz files for bankruptcy
Northville-based auto supplier Hayes Lemmerz International Inc. filed for Chapter 11 bankruptcy protection Monday — its second bankruptcy filing since 2001 — saying the supplier has been squeezed by production cuts in the auto industry and tightened credit markets. (Tue, 12 May 2009 15:30:19 GMT)

Ethanol bankruptcy filing a blow to biofuels industry
The bankruptcy filing last week by Texas' largest ethanol producer deals yet another blow to the state's struggling biofuels sector and is part of a broader industry... (Tue, 12 May 2009 15:30:40 GMT)

Pacific Ethanol repeats bankruptcy warning
Pacific Ethanol Inc. on Tuesday delayed its quarterly report and reiterated that it might have to seek bankruptcy protection if it can't restructure its debt or raise additional capital. (Tue, 12 May 2009 15:53:31 GMT)

DirecTV sued over ads on Charter's bankruptcy case
Charter Communications Inc. is suing DirecTV Group Inc. over advertisements that try to persuade subscribers to switch TV service by touting Charter's bankruptcy filing. (Tue, 12 May 2009 21:28:03 GMT)

Obama Said to Understate Chrysler ‘60-Day’ Bankruptcy Schedule
May 13 (Bloomberg) -- Chrysler LLC’s bankruptcy might take as long as two years, not the two months President Barack Obama suggested as a target, an administration official said. (Wed, 13 May 2009 04:01:39 GMT)

After bankruptcy, Chrysler still faces uncertain future
Washington -- Chrysler LLC is speeding toward an exit from bankruptcy in the coming weeks, but ending its short stay under court protection won't solve all of its problems. (Wed, 13 May 2009 05:19:00 GMT)

Chrysler bankruptcy may take up to two years: report
Chrysler's bankruptcy may take as long as two years, instead of the two months that President Barack Obama suggested as a target, Bloomberg said, citing an administration official. (Wed, 13 May 2009 06:12:40 GMT)

Shane Co. wins extension for bankruptcy filing.
Shane Co., the closely held jewelry retailer that sought Chapter 11 protection in January, won a three-month extension until Aug. 10 to file a turnaround plan with a bankruptcy judge in Colorado. (Wed, 13 May 2009 07:09:33 GMT)

Credit card processing CEO files for bankruptcy protection
Credit card processing executive Greg Daily has filed for personal bankruptcy protection after a California businessman won a $300 million jury verdict against him in an out-of-state court. (Wed, 13 May 2009 07:24:23 GMT)

Chrysler Bankruptcy May Take Up to Two Years, Report Says
Chrysler ’s bankruptcy may take as long as two years, instead of the two months that President Obama suggested as a target, Bloomberg News said, citing an administration official. (Wed, 13 May 2009 11:46:42 GMT)

Report: Chrysler Bankruptcy May Take Up to Two Years
Report: Chrysler Bankruptcy May Take Up to Two Years (Wed, 13 May 2009 12:30:17 GMT)

Lear Faces Loan Date, Bankruptcy Risk, Analyst Says (Update1)
May 13 (Bloomberg) -- Lear Corp. , the world’s second- biggest maker of vehicle seats, has a deadline in two days on amended loan terms that may determine whether the company files for bankruptcy, a Barclays Capital analyst said. (Wed, 13 May 2009 15:08:38 GMT)

Chrysler lenders want secrecy in bankruptcy case
Chrysler LLC secured lenders who oppose a bankruptcy plan to sell most of the carmaker's assets to an entity managed by Fiat SpA will ask on Tuesday that their names be kept secret because some received death threats, their lawyer said. (Wed, 13 May 2009 15:23:14 GMT)

Chrysler Retirees Seek Role in Bankruptcy
A group representing Chrysler ’s retired salaried workers is asking the judge overseeing the automaker’s Chapter 11 bankruptcy proceedings to appoint an official committee of retirees, citing concerns about the future of their benefits. (Wed, 13 May 2009 23:31:11 GMT)

Bankruptcy exit could take longer than 60 days
WASHINGTON - Chrysler LLC's bankruptcy might take years, not the 60 days President Obama's administration has given as a target. The two-month completion schedule suggested by the administration the day the carmaker filed for bankruptcy protection applies only to a sale of Chrysler's best assets to a new entity to be managed by Italy's Fiat SpA. After the sale, creditors still would fight over ... (Thu, 14 May 2009 10:22:20 GMT)

General Growth Wins $400 Million Bankruptcy Loan, Use of Cash
May 14 (Bloomberg) -- General Growth Properties Inc., which filed the biggest real-estate bankruptcy in U.S. history, won court approval of a $400 million loan from a group led by Farallon Capital Management LLC and the right to use cash on hand to fund its operations. (Thu, 14 May 2009 10:28:45 GMT)

General Growth gets approval for bankruptcy loans
Mall owner General Growth Properties Inc. said Wednesday that it had received court approval for $400 million in loans to fund its operations during bankruptcy. (Thu, 14 May 2009 11:48:40 GMT)

GM Now Sees Bankruptcy as ‘Probable,’ Henderson Says (Update1)
May 14 (Bloomberg) -- General Motors Corp. Chief Executive Officer Fritz Henderson said a bankruptcy is now “probable” as the biggest U.S. automaker races to beat a June 1 government deadline to cut costs and debt. (Thu, 14 May 2009 14:08:38 GMT)

Chrysler files motion in bankruptcy court to eliminate 789 of its 3,200 dealerships
NEW YORK - Chrysler LLC has told a bankruptcy court it plans to eliminate 789 of its dealers — or about 25 percent of them — across the country as part of its restructuring process. (Thu, 14 May 2009 14:12:38 GMT)

Chrysler files bankruptcy court motion to eliminate 789 of its 3,200 dealerships
NEW YORK (AP) — Chrysler LLC wants to eliminate 789 of its U.S. 3,200 dealerships, saying in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other. (Thu, 14 May 2009 14:34:20 GMT)

GM Now Sees Bankruptcy as ‘Probable,’ Henderson Says (Update2)
May 14 (Bloomberg) -- General Motors Corp. Chief Executive Officer Fritz Henderson said bankruptcy is now probable as the biggest U.S. automaker races to beat a June 1 deadline to cut costs and debt. (Thu, 14 May 2009 14:58:34 GMT)

GM early payments: Another bankruptcy signal
In another sign the company is preparing for a possible bankruptcy filing within the next two weeks, General Motors has agreed to speed up payments to 1,500 suppliers who provide it with the parts it needs to make cars in North America. (Thu, 14 May 2009 15:27:32 GMT)

Chrysler: terminating 789 dealership agreements in bankruptcy
DETROIT (Reuters) - Chrysler LLC says in court documents it is terminating 789 dealership agreements in bankruptcy. Highlights: (Thu, 14 May 2009 15:51:03 GMT)

GM says Chrysler-like sale most likely form of bankruptcy
General Motors Corp on Thursday said that if it files for bankruptcy it would most likely pursue a quick sale of its best assets out of court protection similar to the process now reshaping Chrysler LLC. (Thu, 14 May 2009 22:16:01 GMT)

GM outlines likely bankruptcy plan
In a government filing, the struggling automaker says it will most likely follow a legal path similar to Chrysler's bankruptcy. (Fri, 15 May 2009 01:27:33 GMT)

Hong Kong April Bankruptcy Applications Rise as Economy Slows
May 15 (Bloomberg) -- Hong Kong’s bankruptcy applications rose 56 percent in April from a year earlier, as the city’s economy heads for its first full year of contraction since 1998. (Fri, 15 May 2009 05:03:56 GMT)

GM studies bankruptcy options
If General Motors Corp. cannot secure labor and debt concessions before a June 1 deadline, the automaker thinks the most likely bankruptcy option involves splitting off its good assets and leaving the bad assets in federal court. (Fri, 15 May 2009 05:14:13 GMT)

Eaton Vance Plans $1 Billion Fund to Invest in Bankruptcy Loans
May 15 (Bloomberg) -- Eaton Vance Corp. , the largest manager of funds designed to minimize taxes, is raising $1 billion to buy high yielding bankruptcy loans as the recession pushes a rising number of companies to default. (Fri, 15 May 2009 12:12:42 GMT)

GM bankruptcy now 'probable'
General Motors Corp. Chief Executive Officer Fritz Henderson said bankruptcy is now probable as the biggest U.S. automaker races to beat a June 1 deadline to cut costs and debt to avoid it. (Fri, 15 May 2009 13:41:04 GMT)

Crunch Bankruptcy Shows the Limits of Pole Dancing (Update1)
May 15 (Bloomberg) -- Crunch Fitness, the health-club chain with cardio-strip tease and pole-dancing classes, may have marked the end of an era when it filed for bankruptcy last week after about a 25 percent membership decline since 2004. (Fri, 15 May 2009 14:03:46 GMT)

GM Bankruptcy Talk Puts Dealers On Edge
As General Motors dealerships await word on their future, the automaker revealed it likely would sell most of its assets to a new company and liquidate the rest if it has to seek bankruptcy protection. (Fri, 15 May 2009 15:00:05 GMT)

GM outlines bankruptcy plan in SEC filing
DETROIT -- General Motors Corp. said it likely would sell most of its assets to a new company and liquidate the rest if it has to seek bankruptcy protection. (Fri, 15 May 2009 15:37:00 GMT)

GM stakes virtual property in case of bankruptcy
General Motors has quietly roped off a bit of virtual real estate with an address similar to one used by Chrysler, that could serve as an information clearinghouse if GM seeks bankruptcy protection. (Fri, 15 May 2009 21:24:45 GMT)

GM, union at odds as bankruptcy deadline looms: UAW
General Motors remains at odds with its main union over key contract changes as a deadline to prove viability and avert bankruptcy fast approaches, union officials said Friday. (Fri, 15 May 2009 22:33:24 GMT)

Stanford’s Antiguan Liquidator Seeks Bankruptcy Case (Update3)
May 15 (Bloomberg) -- Stanford International Bank Ltd.’s Antiguan liquidator asked a U.S. judge to overrule federal regulators, tax authorities and the bank’s U.S. receiver and let the Caribbean receiver pursue assets belonging to alleged Ponzi scheme mastermind R. Allen Stanford in U.S. bankruptcy courts. (Fri, 15 May 2009 23:52:51 GMT)

1 2 3 Next


Home Bankruptcy Guide Bankruptcy Resources Links About
© Copyright 101Bankruptcy.com. All rights reserved.