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Home > Bankruptcy News

Bankruptcy News Jun 2009

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Spectrum lines up $242 million for bankruptcy exit
NEW YORK, June 16 (Reuters) - Spectrum Brands Inc said on Tuesday that it has lined up as much as $242 million in financing to fund its bankruptcy exit. (Tue, 16 Jun 2009 15:06:48 GMT)

U.S. needs more bankruptcy judges: judicial group
A judicial body is urging Congress to authorize new bankruptcy judgeships to cope with a surge in bankruptcy filings that has tracked weakness in the U.S. economy. (Tue, 16 Jun 2009 16:50:26 GMT)

Philly Newspapers gets bankruptcy plan extension
A bankruptcy judge is giving Philadelphia Newspapers an additional 60 days to file a reorganization plan. (Tue, 16 Jun 2009 18:21:27 GMT)

GM and Chrysler's bankruptcy cases at a glance
A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Tue, 16 Jun 2009 20:53:25 GMT)

Brown strikes back at bankruptcy claims
Australian Greens leader Bob Brown has hit back at coalition claims he misled the public when he declared he was at risk of bankruptcy. (Wed, 17 Jun 2009 09:35:52 GMT)

The Basics of business bankruptcy – Making the best of a bad situation
TechLaw: As we work our way through the ongoing recession, more and more businesses are confronted with the real possibility of bankruptcy. This article highlights some of the basics of business bankruptcy. (Wed, 17 Jun 2009 10:33:15 GMT)

Isolagen files for bankruptcy protection
Isolagen Inc. said it filed a Chapter 11 bankruptcy petition so it can reorganize its operations. Its subsidiary Isolagen Technologies also filed for bankruptcy protection, the company announced late Tuesday. (Wed, 17 Jun 2009 11:26:02 GMT)

Arcandor puts 15 subsidiaries into bankruptcy
Embattled German retailer Arcandor AG on Wednesday placed 15 additional subsidiaries under bankruptcy protection along with its Karstadt department stores and the Quelle GmbH mail-order company. (Wed, 17 Jun 2009 13:47:44 GMT)

Young women overtake men in bankruptcy stakes
Women make up the majority of young people falling into bankruptcy, according to a report released today, which blamed irresponsible spending for the jump in insolvencies. (Wed, 17 Jun 2009 14:44:54 GMT)

Six Flags: Bankruptcy won't disrupt operations
Six Flags, the company that operates Vallejo's Discovery Kingdom amusement park, is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt. (Wed, 17 Jun 2009 15:20:32 GMT)

Will GM bankruptcy impact Georgia suit?
Shona Scott, injured in a crash in 2006, filed a complaint against General Motors, but that civil lawsuit is in jeopardy because of GM's bankruptcy filing. (Wed, 17 Jun 2009 15:49:05 GMT)

Eddie Bauer Expected to File for Bankruptcy and Seek a Sale
Eddie Bauer , the outdoor-clothing chain that sold goose-down coats to Mount Everest mountaineers and college students alike, plans to file for bankruptcy Wednesday afternoon and seek a sale to CCMP Capital , a private equity firm, a person briefed on the matter told DealBook. (Wed, 17 Jun 2009 17:16:12 GMT)

Eddie Bauer files for bankruptcy protection
In the latest retail casualty of the recession, Eddie Bauer is seeking Chapter 11 bankruptcy protection. (Wed, 17 Jun 2009 18:46:39 GMT)

Eddie Bauer files for bankruptcy
Eddie Bauer Holdings Inc. filed for Chapter 11 bankruptcy protection Wednesday, citing an inability to pay back debt. (Wed, 17 Jun 2009 19:07:31 GMT)

GM and Chrysler's bankruptcy cases at a glance
A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Wed, 17 Jun 2009 19:28:18 GMT)

Eddie Bauer Files for Bankruptcy
The outdoor-clothing chain filed for bankruptcy and said it planned to sell itself for $202 million to CCMP Capital, a private equity firm. (Wed, 17 Jun 2009 20:06:06 GMT)

Eddie Bauer files for bankruptcy protection
Struggling retailer Eddie Bauer Holdings Inc., which began as a Seattle fishing shop, later outfitted the first American to climb Mt. Everest and made thousands of newfangled down jackets and sleeping bags for the military during World War II, filed for Chapter 11 bankruptcy protection on Wednesday. (Wed, 17 Jun 2009 22:46:37 GMT)

Eddie Bauer files for bankruptcy protection
NEW YORK (AP)--Struggling mall retailer Eddie Bauer Holdings filed for Chapter 11 bankruptcy protection on Wednesday but said a bidder already has agreed to keep the majority of its 371 stores open, honor gift cards and hold onto most employees. (Thu, 18 Jun 2009 11:36:48 GMT)

Fritz Henderson says GM bankruptcy exit 'could be sooner' than promised
In its third week of bankruptcy, General Motors Corp. appears on track to emerge as a reconstituted company this summer ahead of the 60- to 90-day timeline previously promised. GM... (Thu, 18 Jun 2009 12:45:30 GMT)

Southern Indiana hospital enters bankruptcy
SALEM, Ind. -- A southern Indiana hospital has filed for Chapter 11 bankruptcy protection but says its will remain open while it seeks an agreement with a company to run the hospital. (Thu, 18 Jun 2009 13:50:53 GMT)

Bankruptcy link to young people's 'WAG-like' spending
More young people are putting themselves at risk of bankruptcy because they're trying to live a celebrity lifestyle, according to debt advisers. (Thu, 18 Jun 2009 14:46:14 GMT)

GM and Chrysler's bankruptcy cases at a glance
-- A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Thu, 18 Jun 2009 21:01:19 GMT)

Star Tribune Co. files bankruptcy reorganization
The Star Tribune Co. says it has filed a reorganization plan in U.S. Bankruptcy court, with the goal of emerging from Chapter 11 protection this fall. (Fri, 19 Jun 2009 04:55:20 GMT)

Star Tribune Co. files bankruptcy reorganization
The Star Tribune Co. says it has filed a reorganization plan in U.S. Bankruptcy court, with the goal of emerging from Chapter 11 protection this fall. The newspaper says it filed the paperwork Thursday. Since the Star Tribune entered bankruptcy in January, it... Sponsored Topics: Star Tribune - Newspaper - Chapter 11 Title 11 United States Code - United States - Services (Fri, 19 Jun 2009 05:48:13 GMT)

GM Steers Toward Mid-July Bankruptcy Exit
General Motors is hoping to exit bankruptcy court with the formation of a new company as early as mid-July, a month earlier than originally planned, reports say. (Fri, 19 Jun 2009 07:12:20 GMT)

Star Tribune Co. Files Bankruptcy Reorganization
The Star Tribune Co. says it has filed a reorganization plan in U.S. Bankruptcy court, with the goal of emerging from Chapter 11 protection this fall, The Associated Press reported. (Fri, 19 Jun 2009 10:31:11 GMT)

Bankruptcy judge approves GM's motion to end leases of its controversial corporate planes
NEW YORK (AP) — A bankruptcy judge ruled Thursday that General Motors Corp. can terminate its aircraft leases as part of its ongoing restructuring. (Fri, 19 Jun 2009 11:20:28 GMT)

One Vick lawyer withdraws from bankruptcy case
NEWPORT NEWS One lawyer for former NFL player Michael Vick has withdrawn from his bankruptcy case. Peter Ginsberg said in court papers filed with the U.S. Bankruptcy Court in Newport News that his withdrawal is in Vick’s best interests. (Fri, 19 Jun 2009 12:32:20 GMT)

Hong Kong bankruptcy petitions up 53.5% in May
Hong Kong recorded 1,417 bankruptcy petitions in May, up 53.5 percent from the same period last year but down 4.9 percent from April, according to figures released Friday by a government department in charge of bankruptcy issues. The Official Receiver's Office, which administers court insolvencies for both bankruptcies and the compulsory liquidation of companies, said bankruptcy orders also rose ... (Fri, 19 Jun 2009 14:19:43 GMT)

Star Tribune plans to exit bankruptcy in September
The Star Tribune announced Thursday it expects to emerge from Chapter 11 bankruptcy protection in September, with a new, and as yet unknown CEO and publisher. (Fri, 19 Jun 2009 15:27:02 GMT)

Two Small Bondholders to Contest GM Bankruptcy
A Connecticut accounting professor and his wife are suing General Motors over its plans to sell assets during Chapter 11 bankruptcy, Reuters has reported. (Fri, 19 Jun 2009 15:58:31 GMT)

Ex-NFL QB Bernie Kosar files for bankruptcy protection
Former NFL and Miami Hurricanes star quarterback Bernie Kosar has filed for bankruptcy protection in Miami. Kosar's Chapter 11 filing Friday lists assets between $1 million and $10 million and liabilities of between $10 million and $50 million. (Fri, 19 Jun 2009 22:25:18 GMT)

GM and Chrysler's bankruptcy cases at a glance
-- A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Fri, 19 Jun 2009 22:45:38 GMT)

GM and Chrysler's bankruptcy cases at a glance
A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: GENERAL MOTORS -- DAY 19 (Fri, 19 Jun 2009 22:45:38 GMT)

Report: Bernie Kosar files for bankruptcy
MIAMI, June 19 (UPI) -- Former star NFL quarterback Bernie Kosar has filed for Chapter 11 bankruptcy, The Miami Herald said Friday. (Fri, 19 Jun 2009 23:44:07 GMT)

Big Loss for Avista in Star Tribune Bankruptcy
The private equity firm Avista Capital Partners stands to take a big loss in the bankruptcy reorganization of The Star Tribune of Minneapolis. Its majority stake in the newspaper will be wiped out, along with those of other shareholders. (Sat, 20 Jun 2009 00:16:12 GMT)

New Objections May Delay G.M. Exit From Bankruptcy
A group of General Motors bondholders and some of the automaker’s labor unions objected to G.M.’s plan to sell its assets to a new company that could emerge from bankruptcy protection. (Sat, 20 Jun 2009 01:55:44 GMT)

Writ of Attachment May Lead Thelen Into Bankruptcy
Thelen's New York landlord obtained a key ruling Thursday that could drive the firm's other unsecured creditors to force it into bankruptcy. A Los Angeles judge granted the landlord a writ of attachment reserving $25 million of Thelen's assets. A similar court order in December quickly threw Heller Ehrman into bankruptcy. The writ bumps all unsecured creditors -- including Thelen employees who ... (Sat, 20 Jun 2009 03:17:47 GMT)

Kosar, Ex-Quarterback for Cleveland Browns, Files Bankruptcy
June 20 (Bloomberg) -- Bernie Kosar , the former quarterback for the National Football League ’s Cleveland Browns who played opposite John Elway of the Denver Broncos in a 1986 championship game, filed for bankruptcy protection in Florida. (Sat, 20 Jun 2009 10:53:39 GMT)

Ex-Miami Hurricane Bernie Kosar files for bankruptcy
Kosar seeks protection from creditors in Fort Lauderdale court Former gridiron great Bernie Kosar, dogged by financial and legal problems, filed for bankruptcy protection Friday. (Sat, 20 Jun 2009 14:42:41 GMT)

Fraser Papers files for bankruptcy protection
Canadian speciality paper company Fraser Papers Inc. said it along with its subsidiaries filed for bankruptcy protection in an Ontario court amid continued operating losses, weak demand and lower selling prices for pulp and lumber. (Sat, 20 Jun 2009 15:08:39 GMT)

Former Miami Hurricane Bernie Kosar files for bankruptcy
Kosar seeks protection from creditors in Fort Lauderdale court Former gridiron great Bernie Kosar, dogged by financial and legal problems, filed for bankruptcy protection Friday. (Sat, 20 Jun 2009 16:10:19 GMT)

Delphi salaried retirees worry about pension cuts under bankruptcy reorganization plan
Alex Slitz | The Saginaw NewsSome former employees of Delphi court are feeling lost as the company tries to emerge from bankruptcy. As Delphi Corp. moves on a fast track to emerge from Chapter 11 bankruptcy, some former salaried employees... (Sun, 21 Jun 2009 01:30:51 GMT)

Six Flags bankruptcy will not affect Dubai project
21 June 2009 US-based Six Flags has confirmed that its Dubai project will proceed as planned and will not be impacted by its bankruptcy filing, a company executive told Emirates Business. (Sun, 21 Jun 2009 07:07:09 GMT)

Top bankruptcy law firm assists GM
As General Motors approaches two crucial weeks in its bankruptcy reorganization, the automaker is being shepherded through by one of the best bankruptcy law firms in the country. (Sun, 21 Jun 2009 08:12:04 GMT)

Hiring attorney is essential when filing for bankruptcy
Q: Dear Rick: I read your column about bankruptcy. After doing some soul searching I've decided that it would be the best course of action for me. I have talked to a couple of attorneys regarding bankruptcy and they have quoted me a fee that appears to be the going rate. A friend of mine told me about an Internet site where you can do your own bankruptcy and at a fraction of the cost. What are ... (Sun, 21 Jun 2009 11:09:56 GMT)

Fraser Papers files for bankruptcy protection
Canadian speciality paper company Fraser Papers Inc. said it along with its subsidiaries filed for bankruptcy protection in an Ontario court amid continued operating losses, weak demand and lower selling prices for pulp and lumber. (Sun, 21 Jun 2009 13:09:17 GMT)

Deadline Games had lots of game plans before bankruptcy
Filed under: Downloads , Action A few weeks ago we reported that Deadline Games , developers of the downloadable Watchmen: The End Is Nigh movie game titles, was filing for bankruptcy. Now it looks like the developer had plans for a number of future game projects before their shut down. 1Up.com has posted up an interview with Deadline's Soren Lund conducted last May a few weeks before the ... (Sun, 21 Jun 2009 15:03:24 GMT)

Bankruptcy takes away plaintiffs' day in court
Hundreds of injury and death lawsuits throughout the nation will be wiped out by controversial government plans to bring GM and Chrysler Group LLC out of bankruptcy debt-free. (Mon, 22 Jun 2009 05:02:11 GMT)

Mount Vernon building owner’s bankruptcy suspends foreclosure
The owner of a building — home to a Mount Vernon restaurant — has filed Chapter 11 bankruptcy, stalling a pending foreclosure on the property. (Mon, 22 Jun 2009 05:33:43 GMT)

Some bankruptcy experts fear clampdown on capital
Bankruptcy attorneys and business leaders fear a bumpy ride as the U.S. government takes the wheel at General Motors. (Mon, 22 Jun 2009 05:34:23 GMT)

Writ of Attachment May Lead Thelen Into Bankruptcy
Thelen's New York landlord obtained a key ruling Thursday that could drive the firm's other unsecured creditors to force it into bankruptcy. A Los Angeles judge granted the landlord a writ of attachment reserving $25 million of Thelen's assets. (Mon, 22 Jun 2009 07:01:52 GMT)

RI slot parlor delaying bankruptcy court filing
The owners of the Twin River slot parlor say they've decided to delay filing for bankruptcy -- at least for now. Spokeswoman Patti Doyle told The Providence Journal that the Lincoln company was poised to file a petition for Chapter 11 bankruptcy protection Monday, but has resumed talks with lenders. (Mon, 22 Jun 2009 10:37:31 GMT)

RI slot parlor delaying bankruptcy court filing
PROVIDENCE, R.I. - The owners of the Twin River slot parlor say they've decided to delay filing for bankruptcy - at least for now. Spokeswoman Patti Doyle told The... (Mon, 22 Jun 2009 10:53:50 GMT)

RI slot parlor delaying bankruptcy court filing
The owners of the Twin River slot parlor say they've decided to delay filing for bankruptcy -- at least for now. (Mon, 22 Jun 2009 11:19:17 GMT)

AG objects to GM bankruptcy
After bringing concerns over the sale of Chrysler LLC to bankruptcy court, Ohio Attorney General Richard Cordray is doing the same for General Motors Corp. (Mon, 22 Jun 2009 14:11:45 GMT)

Former Browns Quarterback Bernie Kosar Files for Bankruptcy
Former NFL, Miami Hurricanes and Boardman High School star quarterback Bernie Kosar has filed for bankruptcy protection in Miami. (Mon, 22 Jun 2009 15:26:44 GMT)

Former Browns Quarterback Bernie Kosar Files for Bankruptcy
Former NFL, Miami Hurricanes and Boardman High School star quarterback Bernie Kosar has filed for bankruptcy protection in Miami. In a prepared statement, attorney Michael J. Kasen said Kosar "has become the latest victim of the economic downturn and collapse of the real estate market."  Kasen added that Kosar "misplaced trust and reliance on those close to him to manage his businesses and ... (Mon, 22 Jun 2009 15:36:00 GMT)

GM and Chrysler's bankruptcy cases at a glance
-- A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Mon, 22 Jun 2009 20:50:44 GMT)

Three Bernie Kosar firms file for bankruptcy
Besides the personal bankruptcy petition Bernie Kosar filed Friday, three companies he owns or controls have filed for Chapter 11. (Tue, 23 Jun 2009 11:11:03 GMT)

Sea Launch Files for Bankruptcy After Long Losses
Satellite-launch services provider Sea Launch and five affiliates filed for Chapter 11 bankruptcy protection, citing liquidity concerns and recurring losses from operations, Reuters reported. (Tue, 23 Jun 2009 11:16:42 GMT)

Vermont objects to GM bankruptcy provisions
Vermont Attorney General William Sorrell is joining with attorneys general from nine other states to object to some provisions of General Motors' bankruptcy plan. (Tue, 23 Jun 2009 12:04:17 GMT)

RI slot parlor files for bankruptcy protection
The owners of the Twin River slot parlor in Lincoln, R.I., are seeking bankruptcy protection as they struggle to make debt payments in a sour economy. (Tue, 23 Jun 2009 12:29:30 GMT)

RI slot parlor files for bankruptcy protection
The owners of Rhode Island's largest slot parlor filed for bankruptcy protection Tuesday as they struggle to repay millions of dollars in debt, putting in question the state government's third-largest source of revenue as it faces its own fiscal troubles. (Tue, 23 Jun 2009 12:54:44 GMT)

RI slot parlor files for bankruptcy protection
The owners of the Twin River slot parlor in Lincoln, R.I., are seeking bankruptcy protection as they struggle to make debt payments in a sour economy. UTGR Inc. filed Tuesday for Chapter 11 bankruptcy, which allows a business to free itself from creditor... Sponsored Topics: Chapter 11 Title 11 United States Code - United States - Law - Services - Lawyers and Law Firms (Tue, 23 Jun 2009 13:18:22 GMT)

Eight States Challenge Product Liability Issues in GM Bankruptcy
A provision that would release future owners of General Motors for product liability on cars sold prior to the company's bankruptcy is being challenged by the attorneys general of eight states. ... (Tue, 23 Jun 2009 15:11:51 GMT)

RI slot parlor files for bankruptcy protection
PROVIDENCE, R.I. (AP) — The owners of the Twin River slot parlor in Lincoln, R.I., are seeking bankruptcy protection as they struggle to make debt (Tue, 23 Jun 2009 15:42:45 GMT)

Setanta files for bankruptcy protection
Irish broadcaster Setanta Sports filed for bankruptcy protection on Tuesday, saying it will shortly cease broadcasting to customers in Britain after failing to make a number of payments to football organizations. (Tue, 23 Jun 2009 15:56:44 GMT)

RI slot parlor files for bankruptcy protection
The owners of Rhode Island's largest slot parlor, and one of the state's biggest revenue sources, filed for bankruptcy protection Tuesday as they struggle to repay more than a half-billion dollars in debt. (Tue, 23 Jun 2009 19:10:07 GMT)

GM and Chrysler's bankruptcy cases at a glance
-- A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Tue, 23 Jun 2009 23:08:01 GMT)

GM and Chrysler's bankruptcy cases at a glance
A summary of developments in the bankruptcy cases of General Motors Corp. and Chrysler LLC: GENERAL MOTORS -- DAY 23 WHERE DOES IT STAND?: Tuesday marked Detroit-based GM's 23rd day under court protection. (Tue, 23 Jun 2009 23:46:49 GMT)

Long Beach rocket launch venture files for bankruptcy
Sea Launch fires satellites into space from a floating platform at sea and a land facility in Kazakhstan. Its owners include Boeing as well as Russian, Norwegian and Ukrainian partners. Sea Launch Co., a Long Beach-based rocket venture that is 40% owned by aerospace giant Boeing Co., has filed for Bankruptcy Court protection, citing recurring losses from operations. (Wed, 24 Jun 2009 02:02:06 GMT)

State wants Superferry bankruptcy case moved
The state wants the bankruptcy case of Hawaii Superferry transferred from Delaware, where it was filed on May 30, to a court in Hawaii. (Wed, 24 Jun 2009 03:55:49 GMT)

Colo. tracks not part of bankruptcy
The Rhode Island casino owned by BLB Investors — which operates the Arapahoe Park horse track at Aurora and Mile High Greyhound Park in Commerce City — filed for bankruptcy protection Tuesday. (Wed, 24 Jun 2009 07:10:56 GMT)

GM Dissident Bondholders Lose Bid to Form Bankruptcy Committee
June 24 (Bloomberg) -- A group of individual General Motors Corp. bondholders failed to persuade a judge to let them have their own official committee in the automaker’s bankruptcy case. (Wed, 24 Jun 2009 09:33:28 GMT)

Holder casino group seeks bankruptcy protection
Six northern Nevada casinos controlled by businessman Hal Holder Sr. have filed for Chapter 11 bankruptcy reorganization, heading off efforts to get a court-appointed receiver to take over the clubs. (Wed, 24 Jun 2009 12:02:47 GMT)

MGM Mirage soars as bankruptcy fears ease
Shares of MGM Mirage rally as much as 17% as the gambling giant says that it is, for now at least, out of the woods with creditors and that bankruptcy is no longer on the near-term horizon. (Wed, 24 Jun 2009 15:34:09 GMT)

Bankruptcy judge lifts stay in Apple's suit against Psystar
After considering Apple's motion to lift the automatic stay that put its lawsuit against Mac cloner Psystar on hold, bankruptcy judge Robert Mark has ordered the stay lifted. This will allow the legal process to move forward towards the trial between Apple and Psystar, which is set to begin this November. Apple sued Psystar last July for selling computers with unauthorized installations of Mac ... (Wed, 24 Jun 2009 15:42:01 GMT)

Extended Stay Lenders Say Firms Engineered Bankruptcy
Two of Extended Stay Hotels ‘ junior lenders have accused Cerberus Capital Management and Centerbridge Partners of cooking up a scheme to force the hotel chain into bankruptcy in order, along with other senior lenders, to take over Extended Stay’s 680 properties, Bloomberg News reported. (Thu, 25 Jun 2009 11:31:22 GMT)

Judge gives final approval to GM's use of full $33.3 billion in bankruptcy financing
NEW YORK - A bankruptcy judge ruled Thursday that General Motors Corp. can have access to its full $33.3 billion in bankruptcy financing. Judge Robert Gerber gave final approval to the financing on Thursday. (Thu, 25 Jun 2009 13:49:34 GMT)

Judge gives GM final OK to bankruptcy financing
New York -- A bankruptcy judge says GM can have access to its full $33.3 billion in bankruptcy financing. (Thu, 25 Jun 2009 14:00:41 GMT)

Judge gives final OK to bankruptcy financing
A bankruptcy judge says GM can have access to its full $33.3 billion in bankruptcy financ (Thu, 25 Jun 2009 14:20:26 GMT)

GM gets go-ahead on bankruptcy financing
NEW YORK — General Motors Corp. won approval today to use up to $33.3 billion to pay for its bankruptcy today, after making a few changes to settle technical objections. (Thu, 25 Jun 2009 14:21:28 GMT)

Judge gives General Motors final approval to use $33.3 billion in gov't bankruptcy financing
NEW YORK - A bankruptcy judge ruled Thursday that General Motors Corp. can have access to its full $33.3 billion in bankruptcy financing. Judge Robert Gerber gave final approval to the financing after he had given preliminary approval earlier this month for GM to use $15 billion of the total. (Thu, 25 Jun 2009 14:40:28 GMT)

GM gets $33 billion bankruptcy financing judge rules
NEW YORK A bankruptcy judge ruled Thursday that General Motors Corp. can have access to its full $33.3 billion in bankruptcy financing. Judge Robert Gerber gave final approval to the financing on Thursday. He had given preliminary approval to GM using $15 billion of the total at a hearing earlier this month. The billions in U.S. and Canadian government financing is intended to keep the ... (Thu, 25 Jun 2009 15:04:07 GMT)

Judge gives final OK to GM’s bankruptcy financing
NEW YORK—A bankruptcy judge ruled today that General Motors Corp. can have access to its full $33.3 billion in bankruptcy financing. Judge Robert Gerber gave final approval to the financing after he had given preliminary approval earlier this month for GM to use $15 billion of the total. The billions in U.S. and Canadian government financing is intended to keep the Detroit-based automaker going ... (Thu, 25 Jun 2009 15:33:01 GMT)

Boeing could face half-billion-dollar hit in Sea Launch bankruptcy
Boeing will take a $35 million charge to its second-quarter earnings due to the bankruptcy of the Sea Launch joint venture, and could wind... (Thu, 25 Jun 2009 15:39:06 GMT)

Judge gives final OK to GM's bankruptcy financing
A bankruptcy judge ruled Thursday that General Motors Corp. can have access to its full $33.3 billion in bankruptcy financing. (Thu, 25 Jun 2009 15:41:29 GMT)

Judge allows GM financing, bankruptcy on track
A bankruptcy judge Thursday authorized General Motors to tap into the second half of 30 billion dollars in government financing, keeping the rapid restructuring plan on track. (Thu, 25 Jun 2009 17:33:46 GMT)

GM and Chrysler's bankruptcy cases at a glance
-- A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Thu, 25 Jun 2009 20:23:37 GMT)

Lear prepared to file for bankruptcy next week: report
Auto parts supplier Lear Corp is preparing to file for bankruptcy as soon as next week, the Wall Street Journal reported on Thursday, citing people familiar with the matter. (Thu, 25 Jun 2009 20:58:33 GMT)

Journal Register hits bankruptcy plan objections
The Journal Register Co. faced objections to its Chapter 11 reorganization plan on several fronts Thursday, as the newspaper publisher submitted its proposal to a U.S. Bankruptcy Court judge in Manhattan. (Thu, 25 Jun 2009 21:51:25 GMT)

Auto Supplier Prepares Filing for Bankruptcy
The company, one of the largest makers of car seats, is preparing to seek bankruptcy protection as soon as next week. (Fri, 26 Jun 2009 02:40:43 GMT)

Accessories maker preps for bankruptcy
Lear Corp., a maker of automotive seats and interior electronics, is working on a prepackaged bankruptcy five days before it must make a $38 million interest payment on two of its bonds, according to several people familiar with the situation. (Fri, 26 Jun 2009 07:30:02 GMT)

Journal Register Hits Bankruptcy Plan Objections
The Journal Register Co. faced objections to its Chapter 11 reorganization plan on several fronts Thursday, as the newspaper publisher submitted its proposal to a U.S. Bankruptcy Court judge in Manhattan, The Associated Press said. (Fri, 26 Jun 2009 10:31:33 GMT)

GM Says Bankruptcy Sale Delay Would Kill Suppliers
General Motors Corp needs to exit from bankruptcy quickly in order to avoid a "fatal" blow to many of its suppliers and the loss of thousands of jobs, Chief Executive Fritz Henderson said in a court filing on Thursday. (Fri, 26 Jun 2009 12:49:36 GMT)

Newstracker: Bankruptcy judge approves $400,000 salary for St. Mary's CEO
WHAT'S NEW: A federal bankruptcy judge Thursday approved annual compensation of $400,000 for the new president and chief executive officer of St. Mary's Hospital in Passaic, Michael J. Sniffen, who took office Monday. (Fri, 26 Jun 2009 13:53:54 GMT)

GM bankruptcy moves forward
NEW YORK, June 26 (UPI) -- A federal bankruptcy judge in New York said General Motors Corp. could access $33.3 billion in government funds in a day of speedy court rulings. (Fri, 26 Jun 2009 14:43:07 GMT)

Lear All Set for Bankruptcy?
Lear All Set for Bankruptcy? (Fri, 26 Jun 2009 18:56:22 GMT)

Nebraska files objections to GM bankruptcy plans
Nebraska Attorney General Jon Bruning has filed objections to General Motors' bankruptcy plans on behalf of Nebraska and 41 other states. (Fri, 26 Jun 2009 19:56:19 GMT)

EXCLUSIVE: Treasury Considered AIG Bankruptcy
In late January and early February, government officials considered allowing AIG to file for bankruptcy as they struggled with whether to provide additional support for the failed insurance giant, according to documents obtained by FOX Business. (Fri, 26 Jun 2009 20:03:02 GMT)

GM and Chrysler's bankruptcy cases at a glance
-- A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Fri, 26 Jun 2009 21:05:16 GMT)

GM and Chrysler's bankruptcy cases at a glance
A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: GENERAL MOTORS -- DAY 26 (Fri, 26 Jun 2009 21:05:16 GMT)

GM and Chrysler's bankruptcy cases at a glance
A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: GENERAL MOTORS _ DAY 26 WHERE DOES IT STAND?: Friday marked Detroit-based GM's 26th day under court protection. GM said Friday it would use an idled midsize... Sponsored Topics: General Motors - Chrysler - Chapter 11 Title 11 United States Code - United States - GM (Fri, 26 Jun 2009 21:48:33 GMT)

Obama Considered Bankruptcy Among Options for AIG in January
June 26 (Bloomberg) -- The Obama administration considered a range of options for dealing with beleaguered insurer American International Group Inc. after taking office, including bankruptcy, before opting to maintain the current rescue plan. (Fri, 26 Jun 2009 23:58:42 GMT)

Visteon's bankruptcy puts a kink in Connersville's plans
CONNERSVILLE » Officials say Visteon's decision to file for bankruptcy protection has complicated efforts to attract a new business to a closed factory. Connersville officials have been trying to buy the 1.6 million-square-foot plant Visteon closed in 2007 so they can offer it to Carbon Motors Corp. of Atlanta, which is considering sites to build high-tech police cars. (Richmond Palladium-Item) (Sat, 27 Jun 2009 06:06:49 GMT)

FairPoint could face bankruptcy by year's end
MONTPELIER – FairPoint Communications could file for bankruptcy by the end of 2009 if the companies it owes money to don't agree to delay interest payments on those debts, according to documents filed with the federal government this week. ... - By DANIEL BARLOW VERMONT PRESS BUREAU (Sat, 27 Jun 2009 07:08:32 GMT)

Estero community survives Lehman Brothers bankruptcy to thrive
After Lehman Brothers, which has an equity interest in West Bay Club, filed for Chapter 11 bankruptcy protection in September last year, some questioned what might become of the community. With assets of more than $600 billion, Lehman filed the biggest bankruptcy in U.S. history. After the filing, there were rumors the golf club might be forced to close. But the developer _ known as West Bay ... (Sat, 27 Jun 2009 19:40:09 GMT)

Judge allows wine museum bankruptcy to proceed
A judge has ruled that a Napa food and wine museum founded by the late vintner Robert Mondavi can proceed with its plan to get out of bankruptcy, despite objections from some creditors. Copia, a nonprofit also known as The American Center for Wine, Food and... Sponsored Topics: Robert Mondavi - Wine - COPIA - Bankruptcy - United States (Sat, 27 Jun 2009 23:18:23 GMT)

Judge allows wine museum bankruptcy to proceed
A judge has ruled that a Napa food and wine museum founded by the late vintner Robert Mondavi can proceed with its plan to get out of bankruptcy, despite objections from some creditors. (Sat, 27 Jun 2009 23:28:36 GMT)

Fairpoint raises bankruptcy
Fairpoint Communications could file for bankruptcy before the end of the year, if its debt holders don't agree to allow the company to postpone interest payments, according to a recent filing with the Securities and Exchange Commission. (Sun, 28 Jun 2009 05:35:02 GMT)

Government weighed bankruptcy for AIG
The Obama administration considered a range of options for dealing with beleaguered insurer American International Group after taking office, including bankruptcy, before opting to maintain the current rescue plan. (Sun, 28 Jun 2009 05:44:14 GMT)

Comcast pulls group's ad critical of GM bankruptcy plan
WASHINGTON — Comcast pulled a cable television advertisement criticizing General Motors' bankruptcy plan earlier this week after the automaker challenged the spot's claims. (Sun, 28 Jun 2009 06:01:32 GMT)

Neb. Files Objections To GM Bankruptcy
LINCOLN, Neb. (AP) — Nebraska Attorney General Jon Bruning has filed objections to General Motors’ bankruptcy plans on behalf of Nebraska and 41 other states. (Sun, 28 Jun 2009 07:20:42 GMT)

Bankruptcy filing may reach $500 million
The Nebraska attorney general's office launched a criminal investigation on Tuesday into a Grand Island insurance agency, on the heels of a bankruptcy filing last week in which the business claimed liabilities that may reach up to half a billion dollars. (Sun, 28 Jun 2009 07:23:15 GMT)

Fairpoint says bankruptcy possible
CONCORD, N.H. (AP) - Fairpoint Communications - the North Carolina company that bought Verizon's landline phone network in northern New England last year - says bankruptcy is a possibility if it doesn't get more time to pay the interest on $530 million in loans. The prospect of bankruptcy has been raised by analysts, but the company had never mentioned it directly until Wednesday in a filing ... (Sun, 28 Jun 2009 14:45:12 GMT)

Fairpoint says bankruptcy possible
Fairpoint Communications -- the North Carolina company that bought Verizon's landline phone network in northern New England last year -- says bankruptcy is a possibility if it doesn't get more time to pay the interest on $530 million in loans. (Sun, 28 Jun 2009 15:10:35 GMT)

Bankruptcy details emerge for local real estate company
Century 21 Properties Plus owner Tim Rash wore his franchise's signature gold tie to a bankruptcy hearing in downtown Charleston last week. (Mon, 29 Jun 2009 04:10:30 GMT)

GM faces bankruptcy hearing
CHICAGO - GENERAL Motors faces a key bankruptcy hearing on Tuesday in which it will present a plan to sell off most of its assets to a new company unburdened by its old debts and supported by billions of dollars in government loans. Judge Robert Gerber has so far ruled in GM's favour on every motion placed before the court since the beleaguered automaker sought bankruptcy protection on June 1 ... (Mon, 29 Jun 2009 04:32:22 GMT)

Defunct Thelen may be pushed into bankruptcy
Thelen LLP, the San Francisco-based law firm that dissolved last year amid an exodus of partners, might be forced into bankruptcy following a recent court ruling that favors a major creditor. (Mon, 29 Jun 2009 06:05:30 GMT)

Tip of the week: Make good health care decisions to avoid expenses that could force you into bankruptcy
Health care costs are driving a growing number of people into bankruptcy. A new Harvard study found 62 percent of U.S. bankruptcy cases in 2007 were tied medical bills — up from 50 percent in 2001 and 8 percent in 1981. (Mon, 29 Jun 2009 07:20:39 GMT)

Charlotte-based Fairpoint says bankruptcy possible
Fairpoint Communications (NYSE: FRP) - the North Carolina company that bought Verizon's landline phone network in northern New England last year - says bankruptcy is a possibility if it doesn't get more time to pay the interest on $530 million in loans. (Mon, 29 Jun 2009 10:42:15 GMT)

FairPoint Could Face Bankruptcy
FairPoint Communications, the state's largest supplier of landline phone service, says it could be headed for bankruptcy. The company says it needs more time to pay back interest in more than half a million dollars in loans. (Provided by News 13) (Mon, 29 Jun 2009 11:41:00 GMT)

Bankruptcy court OKs Milacron sale
Milacron Inc. said Monday that the U.S. Bankruptcy Court approved the sale of its assets to a group of investors led by Avenue Capital Group and DDJ Capital Management LLC. The deal is expected to close in July. (Mon, 29 Jun 2009 13:35:39 GMT)

Fewer businesses emerge from bankruptcy
Business bankruptcy filings are up more than 40 percent from a year ago, and banks are pushing more companies to liquidate. (Mon, 29 Jun 2009 14:33:18 GMT)

Sea Launch Bankruptcy Stokes Fears of Rising Launch Prices
PARIS - M ajor commercial satellite fleet operators said the June 22 Chapter 11 bankruptcy filing by Sea Launch Co. LLC is bad news for the health of the industry despite repeated claims by some launch service providers that the global market is oversupplied with rockets. (Mon, 29 Jun 2009 14:56:25 GMT)

Southern Road Builders of Polk County files for bankruptcy
Southern Road Builders of Polk County Inc. is seeking to reorganize under Chapter 11 of the U.S. Bankruptcy Code. (Mon, 29 Jun 2009 15:50:56 GMT)

GM heads into critical bankruptcy hearing
General Motors heads into a critical bankruptcy hearing where it will seek permission to sell off most of its assets to a new company unburdened by old debts and supported by massive government loans. (Tue, 30 Jun 2009 07:32:46 GMT)

Alitalia Bankruptcy Administrator Gets Bid for Atitech Unit
June 30 (Bloomberg) -- Augusto Fantozzi, the government- appointed bankruptcy administrator of Alitalia SpA, has received a binding offer for 100 percent of heavy-maintenance unit Atitech SpA, it said in an e-mailed statement today. (Tue, 30 Jun 2009 11:40:50 GMT)

Vick's lawyers return to bankruptcy court to update judge
NORFOLK, Va. (AP) -- Lawyers for suspended NFL star Michael Vick are headed back to bankruptcy court in Virginia. (Tue, 30 Jun 2009 12:24:19 GMT)

Bankruptcy court to rule on "New GM" plan
General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a "New GM" in a plan to reinvigorate the automaker under U.S. government ownership. (Tue, 30 Jun 2009 13:08:26 GMT)

Lawyers to present Vick bankruptcy update
Lawyers for suspended NFL star Michael Vick are headed back to bankruptcy court in Virginia. Vick is not expected to attend Tuesday's hearing in Norfolk, where attorneys will update the judge on progress toward developing a new Chapter 11 bankruptcy plan. The judge rejected Vick's first plan in April, saying it wasn't feasible. Vick is winding down his 23-month sentence for operating a ... (Tue, 30 Jun 2009 13:22:04 GMT)

GM goes to bankruptcy court; retirees, motorists protest
Motorists injured in crashes and accidents involving General Motors Corp. vehicles protested outside U.S. Bankruptcy Court this morning ahead of a key hearing in the automaker's bankruptcy case. (Tue, 30 Jun 2009 13:48:32 GMT)

GM sale hearing in recess in U.S. bankruptcy court
A General Motors Corp bankruptcy court hearing in which the company is seeking to sell its main assets to a "New GM" began on Tuesday but moved to a recess almost immediately as the judge dealt with communication issues. (Tue, 30 Jun 2009 15:03:30 GMT)

LIVE BLOG: GM bankruptcy hearing moved
Free Press business writer Tim Higgins is blogging about a General Motors hearing in a federal bankruptcy court in New York. (Tue, 30 Jun 2009 15:09:08 GMT)

Another update due on Vick bankruptcy
Lawyers for suspended NFL star Michael Vick are headed back to bankruptcy court in Virginia. Vick is not expected to attend Tuesday's hearing in Norfolk, where attorneys will update the judge on progress toward developing a new Chapter 11 bankruptcy plan. (Tue, 30 Jun 2009 15:16:53 GMT)

GM sale hearing under way in U.S. bankruptcy court
A U.S. bankruptcy court judge opened a hearing on Tuesday morning on government-backed plans by General Motors Corp to seek approval to sell its main assets to a "New GM." (Tue, 30 Jun 2009 15:38:33 GMT)

GM seeks approval to exit bankruptcy as a new company
General Motors sought approval from a bankruptcy court Tuesday to sell off its best assets to a new, smaller company unburdened by old debts and supported by billions in government loans. (Tue, 30 Jun 2009 20:34:05 GMT)

GM and Chrysler's bankruptcy cases at a glance
-- A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC: (Tue, 30 Jun 2009 21:26:30 GMT)

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