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Home > Bankruptcy News

Bankruptcy News May 2009

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SemGroup files bankruptcy reorganization plan
SemGroup LP on Friday filed a bankruptcy reorganization plan with the court, saying it has lined up $500 million in financing, and expects to emerge from Chapter 11 as a publicly traded company later this year. (Sat, 16 May 2009 02:04:14 GMT)

GM in Bankruptcy May Speed Dealer Cuts to Match Chrysler’s Pace
May 16 (Bloomberg) -- General Motors Corp. ’s plan to slash its dealer network by the end of 2010 may accelerate, matching the pace set by Chrysler LLC, in a bankruptcy the biggest U.S. automaker says is probable. (Sat, 16 May 2009 04:30:29 GMT)

GM Cuts Deals and Sheds Dealers As Bankruptcy Draws Near
As bankruptcy nears, GM shutters dealerships, reaches tentative agreements with the UAW and faces off with bondholders (Sat, 16 May 2009 04:52:15 GMT)

GM, union at odds as bankruptcy deadline looms
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. (Sat, 16 May 2009 05:36:12 GMT)

Bankruptcy key to cuts
GM's ability to trim 1,100 underperforming dealerships appears dependent on the automaker filing for bankruptcy, experts agree. Without bankruptcy, the dealerships slated to lose their contracts — 18% of GM's total U.S. dealer network — have greater standing for a court challenge. (Sat, 16 May 2009 07:17:10 GMT)

An Ailing GM Registers Domain Name in Case of Bankruptcy
In early April, General Motors inconspicuously secured some virtual real estate that it could potentially use as an information clearinghouse should the company end up seeking bankruptcy protection in the near future.Seemingly taking the lead from Chrysler, GM registered the domain names gmrestructuring.com and gm-restructuring.com last month.The auto manufacturer has said that it will likely ... (Sat, 16 May 2009 14:20:08 GMT)

City explores bankruptcy
Two of Northern California’s top bankruptcy attorneys will visit Half Moon Bay Tuesday to explain to the City Council how it could go about filling Chapter 9 bankruptcy, said Mayor John Muller. (Sat, 16 May 2009 15:32:44 GMT)

GM still at odds with union as bankruptcy looms
Auto giant General Motors remains at odds with its main union over key contract changes as a deadline to prove viability and avert bankruptcy fast approaches. The United Auto Workers union objects to (Sun, 17 May 2009 02:53:45 GMT)

Bankruptcy Proceedings
U.S. BANKRUPTCY COURT (Sun, 17 May 2009 04:27:46 GMT)

Bankruptcy shrouds Mt. Lebanon retirement community residents
With Covenant at South Hills under Chapter 11 bankruptcy protection and attorneys trying to work out a sale, residents at the retirement community worry that a new owner could force them out. (Sun, 17 May 2009 07:03:06 GMT)

Bankruptcy examined on its first anniversary
A year after Vallejo has taken refuge in bankruptcy protection, key questions remain. Among them: What has this extraordinary step done for and to Vallejo, and how much longer will this expensive legal battle last?Vallejo's city staffing has sharply declined, its (Sun, 17 May 2009 07:17:45 GMT)

Canadians declaring bankruptcy in record numbers
Declaring bankruptcy, once regarded as a shameful practice, is now a more viable option for the financially overwhelmed. But going broke can have significant repercussions. (Sun, 17 May 2009 07:27:13 GMT)

Rink Brothers slated for closure on June 9, due to Chrysler Corp.’s bankruptcy
A Bradford icon is on the chopping block, at the mercy of Chrysler Corp.’s bankruptcy filing. After 70 years, Rink Brothers, the oldest original Chrysler dealership in the nation is slated to be closed on June 9, along with nearly 800 other dealerships across the U.S. (Sun, 17 May 2009 08:15:49 GMT)

Aer Lingus chair says bankruptcy claims "rubbish" 
Aer Lingus Chairman Colm Barrington on Sunday rejected as "total rubbish" a claim by Irish rival Ryanair that the former state airline faced bankruptcy within about 18 months. (Sun, 17 May 2009 14:44:00 GMT)

West Edge Builder Files For Bankruptcy
The company building a $130 million complex near Kansas City's Country Club Plaza files for Chapter 11 bankruptcy protection for the project. (Sun, 17 May 2009 15:27:59 GMT)

Chrysler Dealers Urge Judge to Give Them Non-Bankruptcy Rights
May 17 (Bloomberg) -- Chrysler LLC’s dealers asked a bankruptcy judge to let them claim legal protections they lost when the company filed for Chapter 11. (Mon, 18 May 2009 06:26:49 GMT)

Bankruptcy boom skips Detroit
Detroit's bankruptcy court frequently loses bankruptcy business to New York and Delaware, even as Michigan filings are up. (Mon, 18 May 2009 07:27:35 GMT)

Aer Lingus deny bankruptcy claim
Aer Lingus Chairman Colm Barrington rejects as "total rubbish" a claim by rival Ryanair that the former state airline faces bankruptcy within about 18 months. (Mon, 18 May 2009 07:56:01 GMT)

GM bankruptcy could be painful
If General Motors follows Chrysler into bankruptcy court, as many are now expecting, experts say it is likely to be more painful for both the carmaker and the U.S. economy. (Mon, 18 May 2009 12:01:27 GMT)

Bankruptcy Proceedings Moving Quickly For Chrysler
Chrysler's journey through bankruptcy is going more smoothly than some expected. A top Chrysler executive says a slimmed down, healthier version of the company could emerge from bankruptcy as early as next month. (Mon, 18 May 2009 13:11:21 GMT)

TXCO Resources files for bankruptcy protection
Oil and gas producer TXCO Resources Inc. and its subsidiaries on Monday filed for Chapter 11 bankruptcy protection, saying difficulties in raising cash had hurt its ability to operate its business. (Mon, 18 May 2009 13:35:30 GMT)

Pacific Ethanol files for Chapter 11 bankruptcy
Pacific Ethanol Inc. on Monday said its subsidiaries, which own its four ethanol production facilities, filed for Chapter 11 bankruptcy protection in an effort to restructure their debt. (Mon, 18 May 2009 14:09:47 GMT)

GM: key dates in run-up to bankruptcy deadline
(Reuters) - General Motors Corp faces a government-imposed June 1 deadline to reach sweeping cost-cutting deals with bondholders and its union and has said it is probable it will follow rival Chrysler into bankruptcy. (Mon, 18 May 2009 14:26:00 GMT)

TXCO files for Chapter 11 bankruptcy protection
TXCO Resources Inc. and its subsidiaries have officially filed voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for the Western District of Texas. (TXCO) (Mon, 18 May 2009 15:32:35 GMT)

Easter Seals of Tennessee files for bankruptcy
Easter Seals of Tennessee has filed for Chapter 11 bankruptcy protection. (Mon, 18 May 2009 15:57:07 GMT)

Stanford liquidators can seek bankruptcy: judge
The Antiguan liquidators for Texas financier Allen Stanford's offshore bank in Antigua may seek bankruptcy protection for the institution under U.S. law, a federal judge has ruled. (Mon, 18 May 2009 17:58:04 GMT)

Bankruptcy may end second mortgage woes
A Chapter 13 bankruptcy filing may help a homeowner get out from under a second mortgage. (Tue, 19 May 2009 10:00:00 GMT)

Divorce could alter bankruptcy
The higher cost of separate households could force a change from Chapter 13 to Chapter 7 bankruptcy. (Tue, 19 May 2009 10:00:00 GMT)

Greenbrier owner asks to dismiss bankruptcy case
The new owner of The Greenbrier wants a judge to dismiss the resort's bankruptcy case. A hearing is scheduled Tuesday in federal bankruptcy court in Richmond. (Tue, 19 May 2009 11:42:19 GMT)

GM Bankruptcy Seen as All But Inevitable
GM Bankruptcy Seen as All But Inevitable (Tue, 19 May 2009 12:29:47 GMT)

GM bankruptcy seen as all but inevitable
After 100 years in business and 10 months of frenzied but failed restructuring, General Motors Corp is weeks from the bankruptcy filing experts say will be required to complete the Obama administration's bid to reshape a fallen icon of American industry. (Tue, 19 May 2009 14:11:57 GMT)

Even Online, G.M. Prepares for Bankruptcy
General Motors may be trying to stay out of bankruptcy, but it’s taking all precautions. That apparently includes the purchase of a Web address for its potential bankruptcy filing. (Tue, 19 May 2009 14:16:11 GMT)

Correction: Chrysler-Bankruptcy story
In May 14 stories about Chrysler LLC's bankruptcy case, The Associated Press incorrectly spelled the surname of a U.S. judge hearing the case. His name is Arthur Gonzalez, not Gonzales. (Tue, 19 May 2009 14:37:04 GMT)

Four ethanol plants file for bankruptcy
STOCKTON, Calif., May 19 (UPI) -- Four Pacific Ethanol Inc. production subsidiaries filed for Chapter 11 bankruptcy protection in Delaware, the company said in a statement. (Tue, 19 May 2009 15:13:10 GMT)

Correction: Chrysler-Bankruptcy story
In May 14 stories about Chrysler LLC's bankruptcy case, The Associated Press incorrectly spelled the surname of a U.S. judge hearing the case. His name is Arthur Gonzalez, not... Related: Arthur Gonzalez - Chrysler - Bankruptcy - Business - Law (Tue, 19 May 2009 15:18:34 GMT)

Greenbrier bankruptcy case dismissed for new owner
A federal judge dismissed The Greenbrier resort's bankruptcy case Tuesday, clearing the way for a new owner to make good on his pledge to return the iconic West Virginia property to its former glory and profitability. (Tue, 19 May 2009 20:18:36 GMT)

Greenbrier Bankruptcy Case Is Dismissed
A federal bankruptcy judge dismissed the Greenbrier resort’s bankruptcy case on Tuesday, clearing the way for a new owner to make good on his pledge to return the iconic West Virginia property to its former glory and profitability, The Associated Press reports. (Tue, 19 May 2009 20:46:17 GMT)

GM bankruptcy plan eyes quick sale to government
If General Motors Corp files for bankruptcy, as widely expected, its healthy assets will be quickly sold to a new company owned by the U.S. government, a source familiar with the situation said on Tuesday. (Wed, 20 May 2009 00:35:29 GMT)

Ion Media Files Bankruptcy With Deal to Swap Debt for Equity
May 20 (Bloomberg) -- Ion Media Networks Inc. , saying it reached a restructuring agreement with a group of debt holders to convert all its debt to equity, filed for bankruptcy court protection in New York. (Wed, 20 May 2009 05:41:00 GMT)

Bankruptcy judge orders NHL, Coyotes into mediation
A bankruptcy judge has ordered the NHL and Phoenix Coyotes owner Jerry Moyes to mediation in an attempt to resolve their fight over who is in control of a franchise that both sides agree is insolvent. (Wed, 20 May 2009 06:48:20 GMT)

Welch Criticizes Obama on Handling Chrysler Bankruptcy
May 20 (Bloomberg) -- Jack Welch , former chief executive officer of General Electric Co., criticized the government- backed bankruptcy of Chrysler LLC for favoring unions at the expense of creditors and said President Barack Obama ’s economic stimulus programs will cause budget deficits. (Wed, 20 May 2009 12:33:46 GMT)

WaMu asks bankruptcy court to rule on dispute with JPMorgan
Washington Mutual Inc has asked a bankruptcy court to rule on its dispute with JPMorgan Chase & Co over more than $4 billion in deposits, according to court documents on Wednesday. (Wed, 20 May 2009 15:10:00 GMT)

Annuity, life insurance policy purchaser J.G. Wentworth files for bankruptcy
J.G. Wentworth Inc., a financial services firm specializing in purchasing structured settlements, annuities and life insurance policies, filed for Chapter 11 bankruptcy protection Tuesday with hopes to reorganize. (Wed, 20 May 2009 15:27:02 GMT)

Pacific Ethanol files for bankruptcy
STOCKTON - Pacific Ethanol Inc.'s $100 million ethanol plant here and the company's three other subsidiary production facilities have filed for U.S. Bankruptcy Court protection to reorganize their financing. (Wed, 20 May 2009 15:42:43 GMT)

Ion Media files for Chapter 11 bankruptcy protection
Ion Media Networks Inc., a television network with roots in the Tampa Bay area, has filed for Chapter 11 bankruptcy protection. (Wed, 20 May 2009 15:51:36 GMT)

Judge hears arguments in WaMu bankruptcy
A bankruptcy judge in Delaware is considering Washington Mutual's request to examine JPMorgan Chase records. (Wed, 20 May 2009 17:44:38 GMT)

Judge refuses motion to postpone Chrysler bankruptcy
A judge declined on Wednesday to postpone Chrysler's bankruptcy to allow a district court to hear arguments about whether the U.S. government exceeded its authority in the reorganization of the automaker. (Wed, 20 May 2009 19:18:13 GMT)

Chrysler Names Its Post-Bankruptcy Chairman
Chrysler named its next chairman on Wednesday, choosing C. Robert Kidder, the former chairman of Borden Chemical and of Duracell International , to lead its board after the automaker emerges from its bankruptcy proceedings. (Wed, 20 May 2009 20:31:27 GMT)

Chrysler names chairman for post-bankruptcy
Chrysler announced Wednesday that a new chairman will take over after the troubled automaker completes a bankruptcy restructuring exercise and forges a global alliance with Italy's Fiat. (Wed, 20 May 2009 20:49:44 GMT)

Chrysler exec says sales OK despite bankruptcy
A top Chrysler executive says the company is selling cars and trucks better than expected this month despite being under bankruptcy court protection. (Wed, 20 May 2009 20:56:50 GMT)

Chrysler Sales Top Industry’s Pace as Bargains Trump Bankruptcy
May 20 (Bloomberg) -- Chrysler LLC, working to shed most of its assets in bankruptcy, is selling cars at a higher rate than the U.S. industry this month as incentives of as much as $6,000 on each vehicle attract buyers. (Thu, 21 May 2009 04:13:28 GMT)

Chrysler exec says sales OK despite bankruptcy
Chrysler LLC's Chapter 11 filing so far doesn't appear to be affecting May sales, a top executive said Wednesday. Early sales data shows Chrysler is on pace to sell 60,000 to 70,000 vehicles to individuals this month, better than expected considering its April 30 bankruptcy filing, Executive Vice President for Sales and Marketing Steven Landry said in an interview Wednesday. (Thu, 21 May 2009 09:35:39 GMT)

Frontier bankruptcy plan deadline extended
A bankruptcy judge is giving Frontier Airlines more time to propose its own plan for emerging from Chapter 11. (Thu, 21 May 2009 10:02:07 GMT)

Delphi still seeking deal to exit bankruptcy protection as deadlines for it and GM approach
NEW YORK - An attorney for Delphi says talks with members of President Barack Obama's automotive task force continue in hopes of reaching a deal to lift the auto supplier out of bankruptcy protection. (Thu, 21 May 2009 15:05:47 GMT)

Everett waterfront developer files for bankruptcy
The company hired to build a $400 million development on the Everett waterfront, Everett Maritime, has filed for Chapter 11 bankruptcy reorganization. (Thu, 21 May 2009 15:58:55 GMT)

Ion Media gets bankruptcy court funding approval
Ion Media Networks Inc., which owns or operates 60 TV stations in the U.S., said Thursday it has received approval to use its cash on hand and access $25 million in new funding to keep operating while in bankruptcy court proceedings. (Fri, 22 May 2009 01:58:45 GMT)

US to steer General Motors into bankruptcy: report
The US government is readying to steer General Motors into bankruptcy with a plan to fund the ailing automaker with tens of billions of dollars in extra public financing, the Washington Post said Thursday. (Fri, 22 May 2009 03:20:47 GMT)

U.S. to steer GM toward bankruptcy: report
The Obama administration is preparing to steer General Motors Corp into bankruptcy next week, The Washington Post reported on Thursday, citing sources familiar with the discussions. (Fri, 22 May 2009 03:32:11 GMT)

U.S. to Steer GM Toward Bankruptcy
The Obama administration is preparing to send General Motors into bankruptcy as early as the end of next week under a plan that would give the automaker tens of billions of dollars more in public financing as the company seeks to shrink and reemerge as a global competitor, sources familiar with the... (Fri, 22 May 2009 04:00:00 GMT)

U.S. Treasury plans no GM bankruptcy next week: source
The U.S. Treasury Department has no plans to push General Motors Corp into a bankruptcy filing next week and the outcome of the automaker's restructuring efforts may not be known until a June 1 deadline, a source familiar with the situation said early on Friday. (Fri, 22 May 2009 05:13:30 GMT)

Ion Media Gets Bankruptcy Court Funding Approval
Ion Media Networks , the owner and operator of 60 TV stations in the U.S., said Thursday it has received approval to use its cash on hand and access $25 million in new funding to keep operating while in bankruptcy court proceedings. (Fri, 22 May 2009 11:17:41 GMT)

Bankruptcy not certain in GM restructuring: source
A bankruptcy filing is not certain in the General Motors restructuring case and reports that the Obama administration will steer the automaker into bankruptcy as early as next week are premature, a source familiar with the situation said on Friday. (Fri, 22 May 2009 13:26:26 GMT)

U.S. To Steer GM Toward Bankruptcy
The Obama administration is preparing to send General Motors into bankruptcy as early as the end of next week under a plan that would give the automaker tens of billions of dollars more in public financing, the Washington Post reports. (Fri, 22 May 2009 14:35:25 GMT)

Today's Outrage: Who Wants A GM Bankruptcy?
Is the media pushing the GM bankruptcy agenda or is the Obama Administration manipulating the news to pressure bondholders? It's a rhetorical question. (Fri, 22 May 2009 14:57:18 GMT)

Analysts say GM bankruptcy may not be all that bad
With General Motors' long-anticipated day of reckoning a little more than a week away, nearly all signs are pointing to the wounded auto giant limping its way into bankruptcy court, but experts say that might not be as bad as once expected. (Fri, 22 May 2009 22:58:57 GMT)

GM prepares for bankruptcy
General Motors Corp won a cost-cutting deal from its Canadian labor union on Friday, part of a package of concessions the automaker is expected to take into a federal bankruptcy court by the end of this month in a showdown with its bondholders. (Fri, 22 May 2009 23:53:30 GMT)

GM borrows $4 billion more, prepares for bankruptcy
General Motors Corp on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month. (Fri, 22 May 2009 23:59:24 GMT)

Analysts Say GM Bankruptcy May Not Be All That Bad
With Chrysler sales holding up, analysts say General Motors bankruptcy may not be all that bad (Sat, 23 May 2009 00:07:45 GMT)

Expert who helped New York City avoid bankruptcy in 1975 has some advice for California
Felix Rohatyn says the key is gutsy political leadership and a realistic plan that includes sacrifices by everybody. In 1975, New York City was teetering on the edge of bankruptcy and threatening to bring down the entire state. No state had gone bankrupt, but President Ford wanted to make New York an example to the rest of the country. His spokesman compared the city to "a wayward daughter ... (Sat, 23 May 2009 03:03:41 GMT)

GM Bankruptcy 'Not So Bad'
As GM limps closer to bankruptcy, consumer fears could subside and sales wouldn't 'fall off a cliff,' experts say • U.S. Lends an Additional $4B to Ailing GM (Sat, 23 May 2009 05:42:01 GMT)

GM bankruptcy may beat uncertainty
With General Motors' long-anticipated day of reckoning a little more than a week away, nearly all signs are pointing to the wounded auto giant limping its way into bankruptcy court, but experts say that might not be so bad. (Sat, 23 May 2009 07:17:31 GMT)

Analysts: GM bankruptcy may not be all that bad
DETROIT – With General Motors' long-anticipated day of reckoning a little more than a week away, nearly all signs are pointing to the wounded auto giant limping its way into bankruptcy court, but experts say that might not be as bad as once expected. ... - By TOM KRISHER The Associated Press (Sat, 23 May 2009 12:19:44 GMT)

Still no deal as bondholders prepare for GM bankruptcy
General Motors Corp. still has not been able to reach an agreement with its bondholders regarding its $27 billion exchange offer designed to keep it out of bankruptcy. (GM) (F) (Sun, 24 May 2009 03:12:02 GMT)

Bankruptcy Proceedings
U.S. BANKRUPTCY COURT (Sun, 24 May 2009 06:22:12 GMT)

A student still can get aid despite parents' bankruptcy
Q: Is there a loan out there that we can apply for even if we have filed for bankruptcy? Trying to get my child into college for the fall 2009 semester. (Sun, 24 May 2009 07:13:12 GMT)

Analysts now say bankruptcy at GM may not be all that bad
With General Motors' long-anticipated day of reckoning a little more than a week away, nearly all signs are pointing to the wounded auto giant limping its way into bankruptcy court, but experts say that might not be as bad as once expected. (Sun, 24 May 2009 07:29:42 GMT)

Harry Domash, Online Investing: How to avoid companies on verge of bankruptcy
Rumors that one of your stocks is teetering on bankruptcy could ruin your day. Thus, it's best to stick with stocks unlikely to suffer that fate. (Sun, 24 May 2009 08:40:21 GMT)

Bankruptcy law gives people a second chance
Q: Dear Rick: I generally agree with what you say and I like your down to earth approach, however, I question one of your recent columns in which you seem to suggest that bankruptcy isn't such a bad idea. I think too many people go into bankruptcy when they don't have to. I think too many people are taking advantage of the system. I would hope that in the future you would discourage people from ... (Sun, 24 May 2009 11:34:37 GMT)

Builder avoids trial by filing bankruptcy
A builder who is accused of making fraudulent transfers to avoid paying his bank debt avoided a civil trial Thursday after he filed bankruptcy. (Northwest Arkansas Times) (Sun, 24 May 2009 12:30:55 GMT)

Annie Leibovitz - Leibovitz Threatened With Bankruptcy
Celebrity photographer ANNIE LEIBOVITZ has been threatened with involuntary bankruptcy by a lighting company over an allegedly unpaid debt.The star snapper was sued... (Sun, 24 May 2009 13:24:00 GMT)

Leibovitz threatened with bankruptcy
Celebrity photographer Annie Leibovitz has been threatened with involuntary bankruptcy by a lighting company over an allegedly unpaid debt. (Sun, 24 May 2009 14:03:47 GMT)

Eurofresh files Chapter 11 bankruptcy
EuroFresh Inc., along with its subsidiary, Eurofresh Produce Ltd., filed for Chapter 11 bankruptcy protection Tuesday, but the CEO said normal operations would not be affected. (Sun, 24 May 2009 15:19:23 GMT)

Trilogy bankruptcy adds chapter to JE Dunn Construction dispute
A bankruptcy filing will give the developer of the West Edge project an additional avenue to appeal an arbitration award in favor of JE Dunn Construction. (Mon, 25 May 2009 05:48:08 GMT)

Mebane home builder files for Chapter 7 bankruptcy
An Alamance County home builder has filed for bankruptcy and plans to liquidate. (Mon, 25 May 2009 05:48:48 GMT)

Furniture maker DeCoro USA files for bankruptcy
The U.S. sales and distribution arm of Chinese leather furniture maker DeCoro has followed its parent company into bankruptcy. (Mon, 25 May 2009 05:49:31 GMT)

German governor: Opel bankruptcy must be avoided
The German government must do whatever it can to keep General Motors Corp.'s embattled Opel unit out of bankruptcy, a key governor said Monday ahead of another meeting on the carmaker's future. (Mon, 25 May 2009 08:12:49 GMT)

Cedar City Flight School Files For Bankruptcy
A Cedar City flight school that was shuttered in March has filed for bankruptcy amid allegations that it had improperly charged students thousands in up-front tuition. (Mon, 25 May 2009 14:40:12 GMT)

Porsche fights off bankruptcy talk
German luxury sportscar maker Porsche sought to deflect talk of bankruptcy on Monday after acknowledging it had borrowed hundreds of millions of euros from Volkswagen and needed billions more. (Mon, 25 May 2009 14:40:54 GMT)

Chrysler's Outpatient Bankruptcy Likely To End On Schedule This Week
Hold on to your hats, folks: it looks like the federal government's one-two punch of bailout and bankruptcy may be working. At least in Chrysler's case. When the company was shunted into court almost a month ago, the feds set a fairly ambitious turnaround schedule: they wanted to see Chrysler emerge from bankruptcy within 30 days, and as of .. (Mon, 25 May 2009 14:57:19 GMT)

Porsche fights off bankruptcy talk
German luxury sportscar maker Porsche sought to deflect talk of bankruptcy after acknowledging it had borrowed hundreds of millions of euros from Volkswagen and needed billions more. (Mon, 25 May 2009 14:58:23 GMT)

Porsche fights off bankruptcy talk
GERMAN luxury sportscar maker Porsche has sought to deflect talk of bankruptcy today after acknowledging it had borrowed hundreds of millions of euros from Volkswagen and needed billions more. (Mon, 25 May 2009 15:01:00 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,” ... (Mon, 25 May 2009 15:13:01 GMT)

GM teeters on edge of bankruptcy, as its workers and bondholders consider moves
America’s sick giant may finally topple this week. Staggering ever closer to the grip of bankruptcy court, General Motors executives have been working feverishly as the government’s June 1 restructuring deadline nears. (Tue, 26 May 2009 05:00:59 GMT)

Lehman U.S., UK units at odds over bankruptcy: report
Lehman Brothers Holdings Inc's U.S. estate administrators will ask a federal judge on Tuesday to approve a framework for coordinating bankruptcy proceedings for the bank's subsidiaries worldwide, putting them at odds with its administrators in the UK, the Wall Street Journal said. (Tue, 26 May 2009 06:20:45 GMT)

Bankruptcy for G.M. Would Tax the Experts
Many, many lawyers are preparing to take their seats as General Motors plans its path toward bankruptcy. (Tue, 26 May 2009 09:21:09 GMT)

Lehman Units at Odds Over Bankruptcy, Report Says
Lehman Brothers U.S. estate administrators will ask a federal judge on Tuesday to approve a framework for coordinating bankruptcy proceedings for the bank’s subsidiaries worldwide, putting them at odds with its administrators in Britain, The Wall Street Journal reported. (Tue, 26 May 2009 11:32:16 GMT)

Bankruptcy Is Still a Possibility for Opel, Official Says
Bankruptcy for Opel , the European unit of General Motors , remains a distinct possibility despite three offers for the unit, the German economy minister, Karl-Theodor zu Guttenberg, said in an interview published on Sunday. (Tue, 26 May 2009 11:46:52 GMT)

Man accused in sci-fi fraud files for bankruptcy protection
NASHUA – A Milford man charged with theft and fraud charges stemming from a series of science fiction conventions has filed for bankruptcy protection, court records show. ... (Tue, 26 May 2009 12:18:33 GMT)

TMO Scoop - Psystar Files Bankruptcy, Stalls Apple’s Case
Unauthorized Mac clone maker Psystar has filed for Chapter 11 bankruptcy protection in Florida, temporarily slowing down Apple's legal case against it. The filing may be an indication that the company's financial backers have pulled out, signaling they see Apple as the clear winner in court. (Tue, 26 May 2009 15:10:52 GMT)

Market Snapshot: GM bankruptcy might spell relief for stocks
A bankruptcy filing by General Motors Corp., which approaches a key deadline with bondholders Tuesday, may incur more relief than distress among stock investors, some analysts say. (Tue, 26 May 2009 15:33:04 GMT)

Dutch Green Energy Company Protected From Bankruptcy
THE HAGUE (AFP)--Green energy company Econcern, which claims to be the biggest of its kind in the Netherlands, said Tuesday a court had approved procedures to protect it from bankruptcy during the economic crisis. (Tue, 26 May 2009 15:37:42 GMT)

GM bond deadline passes, bankruptcy seen near
General Motors on Wednesday prepared to face the fallout from a failed debt exchange that sends the largest U.S. automaker closer to a bankruptcy filing expected by the end of the month. (Wed, 27 May 2009 11:25:23 GMT)

GM moves step closer to bankruptcy
General Motors said Wednesday that it has fallen far short of the bondholder support it needed for its proposed debt-for-stock offer, virtually guaranteeing that the nation's largest automaker will be forced to file for bankruptcy court protection within the next five days. (Wed, 27 May 2009 11:51:50 GMT)

Chrysler faces D-Day as GM nears bankruptcy
Chrysler faces its day of judgment on Wednesday as a bankruptcy court judge rules on a sale of its key assets to give the ailing automaker a fresh start in a partnership with Italy's Fiat. (Wed, 27 May 2009 12:35:18 GMT)

GM bond deadline passes, bankruptcy seen near
General Motors Corp said on Wednesday that a crucial bond exchange proposal failed to gain enough support and that its board of directors would meet to review the automaker's options, clearing the path for what would be the largest U.S. industrial bankruptcy ever. (Wed, 27 May 2009 14:05:03 GMT)

GM says bondholder offer fails; bankruptcy likely
A General Motors Corp. bankruptcy filing seemed inevitable after a rebellion by its bondholders forced it to withdraw on Wednesday a plan to swap bond debt for company stock. (Wed, 27 May 2009 14:20:18 GMT)

Chrysler in court for key bankruptcy hearing
The future of Chrysler hung in the balance Wednesday as it prepared to ask a bankruptcy judge for permission to sell the bulk of its assets to a group headed by Italy's Fiat in hopes of saving itself from liquidation. (Wed, 27 May 2009 15:25:32 GMT)

GM bankruptcy decision seen near
General Motors Corp moved closer to filing the largest U.S. industrial bankruptcy after a crucial bond exchange proposal failed and as officials in Germany neared a decision on which company would take over GM's European brand, Opel. (Wed, 27 May 2009 15:29:46 GMT)

Chrysler heads to court for bankruptcy hearing
The future of Chrysler hangs in the balance as it heads to court Wednesday to ask a bankruptcy judge for permission to sell the bulk of its assets to a group headed by Italy's Fiat in hopes of saving itself from liquidation. (Wed, 27 May 2009 15:33:42 GMT)

Stocks mostly slip as GM gets closer to bankruptcy
Wall Street's rally is going back on hold as General Motors takes another step toward bankruptcy court. (Wed, 27 May 2009 15:48:15 GMT)

Court to rule on Chrysler, GM bankruptcy looms
A US court was to rule Wednesday on approval for Chrysler's fast-track bankruptcy and rebirth as a partner of Italian giant Fiat. (Wed, 27 May 2009 15:48:33 GMT)

Visteon files for Chapter 11 bankruptcy protection
Auto parts supplier Visteon Corp. said Thursday it — along with some of its U.S. units — has filed for Chapter 11 bankruptcy protection, as the company struggles with reduced demand from automakers amid plans for extended plant shutdowns this summer. (Thu, 28 May 2009 10:40:20 GMT)

Chrysler Cures a Bankruptcy, but Tests Loom
When President Obama announced the government’s reorganization plan for Chrysler in late April, he promised the bankruptcy would be “quick,” “efficient,” and “controlled.” (Thu, 28 May 2009 12:46:12 GMT)

Stocks lower as bond prices slump, GM gets closer to bankruptcy
Wall Street's rally is back on hold as General Motors took another step toward bankruptcy court and investors worry about how much the government is borrowing. (Thu, 28 May 2009 13:14:19 GMT)

GM says US to own 72% under bankruptcy plan
The US government would own 72.5 percent of General Motors under a proposed bankruptcy reorganization outlined by the ailing automaker, a regulatory filing showed Thursday. (Thu, 28 May 2009 14:05:56 GMT)

GM says US to own 72 percent under bankruptcy plan
The US government would own 72.5 percent of General Motors under a proposed bankruptcy reorganization that now has support of GM bondholders, a regulatory filing showed Thursday. (Thu, 28 May 2009 14:29:36 GMT)

Debt deal's failure steers GM to brink of bankruptcy
General Motors (GM) said Wednesday that not enough bondholders agreed to an exchange offer, which expired at midnight Tuesday, to make the deal go through. GM's board will meet shortly to discuss the next steps, which will likely include bankruptcy filing. (Thu, 28 May 2009 14:29:59 GMT)

GM makes new bondholder offer ahead of bankruptcy
General Motors Corp and the U.S. Treasury on Thursday made an improved equity exchange offer to bondholders with $27 billion in debt intended to pave the way for a quick bankruptcy process for the automaker. (Thu, 28 May 2009 14:51:22 GMT)

GM makes new bondholder offer ahead of bankruptcy
General Motors Corp said on Thursday it had reached a deal with some major bondholders that would give them a bigger stake in a reorganized automaker and could pave the way for a fast-track bankruptcy backed by the U.S. Treasury within days. (Thu, 28 May 2009 15:08:29 GMT)

US begins GM bankruptcy planning
General Motors and the US Treasury improve the offer to GM's bondholders, as they prepare for the firm's bankruptcy. (Thu, 28 May 2009 15:30:40 GMT)

War of words over Opel as GM bankruptcy looms
A rift between Berlin and Washington threatened to torpedo Germany's goal of shielding Opel from the imminent bankruptcy of its parent General Motors , raising the risk of insolvency for the German carmaker. (Thu, 28 May 2009 15:53:11 GMT)

GM, Chrysler Positioned to Move Through Bankruptcy at Top Speed
The Obama administration's plan to revive two of the nation's major automakers powered forward yesterday, with Chrysler pushing to create a new company in bankruptcy and General Motors readying itself for a similar trip to court by offering a new deal to bondholders. (Fri, 29 May 2009 04:00:00 GMT)

GM bankruptcy takes shape, Chrysler awaits ruling
A bankruptcy plan took shape for General Motors that would give the wheel to the US government, as Chrysler awaited a bankruptcy court ruling on its revival plan in alliance with Italy's Fiat. (Fri, 29 May 2009 07:35:06 GMT)

Opel rescue talks planned as GM heads for bankruptcy
US auto giant General Motors veered closer to bankruptcy Friday while German officials braced for fresh talks on how to save GM's European unit Opel from being declared insolvent too. (Fri, 29 May 2009 11:02:49 GMT)

R.H. Donnelley files for bankruptcy, says no to DIP
U.S. yellow-pages publisher R.H. Donnelley Corp filed for Chapter 11 bankruptcy protection on Thursday and said the move would slash its debt by about $6.4 billion. (Fri, 29 May 2009 11:35:06 GMT)

Delphi May Sell Assets to Exit Bankruptcy
The Delphi Corporation , the auto parts maker that has been in bankruptcy proceedings for the last four years, may finally emerge from Chapter 11 and avert liquidation. (Fri, 29 May 2009 12:16:22 GMT)

Iacocca losing pension, car in Chrysler bankruptcy
Lee Iacocca, the car executive credited with saving Chrysler from bankruptcy in the 1980s, is to lose a big chunk of his pension and a guaranteed life-long company car due to the U.S. automaker's bankruptcy filing two decades later. (Fri, 29 May 2009 12:27:10 GMT)

GM Bankruptcy to Be a Tale of Best of Assets, Worst of Assets
May 29 (Bloomberg) -- When General Motors Corp. files for bankruptcy protection next week, a Dickensian tale of two legal processes will unfold. (Fri, 29 May 2009 12:47:13 GMT)

GM Suppliers Face New Threat as Bankruptcy Looms for Automaker
May 29 (Bloomberg) -- General Motors Corp. ’s parts suppliers, battered by losses from slumping vehicle production, face new threats to their survival as the largest U.S. automaker prepares to idle factories in bankruptcy. (Fri, 29 May 2009 13:53:40 GMT)

Jones Day Hires Bankruptcy Team from Rival
Jones Day , the firm advising Chrysler in its Chapter 11 case, has scored a major coup: It hired seven bankruptcy attorneys, four of them partners, away from rival firm Kirkland & Ellis . The attorneys, previously based in Kirkland’s Los Angeles office, will help build Jones Day’s operations in Southern California, an area hit hard by the economic crisis. (Fri, 29 May 2009 15:01:12 GMT)

GM Shares Fall Below $1 as Bankruptcy Filing Nears (Update1)
May 29 (Bloomberg) -- General Motors Corp. fell below $1, the minimum price normally needed to trade on the New York Stock Exchange, as the automaker headed for bankruptcy. (Fri, 29 May 2009 15:58:38 GMT)

Judge approves early motions in Visteon bankruptcy
A Delaware bankruptcy judge on Friday approved several first-day motions in the Chapter 11 bankruptcy case of automobile parts supplier Visteon. (Fri, 29 May 2009 23:13:51 GMT)

Economic optimism may trump GM bankruptcy
Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed. (Sat, 30 May 2009 01:07:47 GMT)

Auto Suppliers Brace for Blow of GM Bankruptcy
Auto parts suppliers, pummeled by the global slump in vehicle sales, will soon face a new menace to their survival: General Motors' bankruptcy. (Sat, 30 May 2009 04:00:00 GMT)

With bankruptcy looming, a new GM begins to emerge
With an almost certain bankruptcy filing days away, General Motors is beginning its reinvention, planning to retool one factory to make its smallest vehicles ever in the U.S. and rid itself of the biggest. (Sat, 30 May 2009 04:37:19 GMT)

Wall Street faces data barrage, GM bankruptcy
Wall Street investors face a battery of economic news and the looming bankruptcy of auto giant General Motors in the coming week, testing the nerves of investors after a strong week. (Sat, 30 May 2009 08:05:04 GMT)

Bankruptcy Looms for GM; Chrysler Awaits Fate
GM reaches deals with UAW, Opel as almost certain bankruptcy nears; Chrysler awaits its fate (Sat, 30 May 2009 12:53:12 GMT)

Bankruptcy looms for GM; Chrysler awaits fate
General Motors Corp. has cleared a couple of key roadblocks on the ailing automaker's route to an almost certain bankruptcy filing Monday. (Sat, 30 May 2009 13:51:34 GMT)

Bankruptcy looms for GM; Chrysler awaits fate
General Motors Corp. has cleared a couple of key roadblocks on the ailing U.S. automaker's route to an almost certain bankruptcy filing Monday. (Sat, 30 May 2009 13:54:31 GMT)

Coming Week: Getting Past GM's Bankruptcy
After GM at last files for bankruptcy, traders will turn their attention to a spate of economic reports, including the latest monthly jobs report. (Sat, 30 May 2009 14:12:37 GMT)

GM Teeters On Bankruptcy; Chrysler Hopes For Rescue
Host Scott Simon discusses the expected bankruptcy filing of General Motors and the economic state of the U.S. auto industry with New York Times business columnist Joe Nocera. (Sat, 30 May 2009 15:58:35 GMT)

History shows corporations can survive bankruptcy
Can General Motors file for bankruptcy and re-emerge from Chapter 11 as a profitable and viable automaker? Other major American companies such as Texaco, Dow Corning, Delta Airlines and United Airlines have filed for Chapter 11 reorganization and successfully exited. (Sat, 30 May 2009 17:16:09 GMT)

Bankruptcy looms for GM; Chrysler awaits fate
General Motors Corp. has pulled together many of the pieces needed to complete government-ordered restructuring, but its board still is likely to decide Saturday to head into bankruptcy protection because there's too much left to do. (Sat, 30 May 2009 19:26:25 GMT)

G.M. Bankruptcy Plan Clears Bondholder Hurdle
The bondholders agreed to exchange their debt for an ownership stake in the ailing carmaker, clearing the final obstacle to an orderly bankruptcy. (Sat, 30 May 2009 22:17:16 GMT)

GM clears some hurdles as bankruptcy looms
With an almost certain bankruptcy filing days away, General Motors is beginning its reinvention, planning to retool one factory to make its smallest vehicles ever in the U.S. and rid itself of the biggest. (Sat, 30 May 2009 22:20:39 GMT)

GM bondholder deadline passes as bankruptcy looms
General Motors Corp finished a key piece of business on Saturday before a bankruptcy filing planned for Monday as the deadline expired for bondholders to accept an exchange offer brokered by the Obama administration. (Sun, 31 May 2009 01:44:20 GMT)

Hawaii Superferry files for bankruptcy
The company running Hawaii's first interisland car and passenger service is filing for bankruptcy, two months after a state Supreme Court ruling effectively shut it down. (Sun, 31 May 2009 02:39:50 GMT)

Free Bankruptcy Clinics Help Maryland Residents Seeking a Fresh Start
With the economy in crisis, personal bankruptcies are up nationwide, and so is the number of Maryland residents filing for bankruptcy without the help of a lawyer. (Sun, 31 May 2009 04:00:00 GMT)

GM bosses discuss bankruptcy plan
Top executives at General Motors meet to finalise a widely expected filing for bankruptcy protection, the BBC learns. (Sun, 31 May 2009 11:26:34 GMT)

Bankruptcy looms for GM
DETROIT (AP) — General Motors Corp.'s board of directors met for a second day Saturday to make the final decision on whether the automaker would complete its restructuring by filing for bankruptcy protection Monday. (Sun, 31 May 2009 12:59:36 GMT)

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