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Home > Bankruptcy News

Bankruptcy News Jul 2009

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Delphi Is Said to Have a New Deal to Leave Bankruptcy
Delphi, the long-struggling auto parts maker, has reached a deal with its lenders and onetime parent General Motors over a new plan that would lift the company out of bankruptcy. (Fri, 17 Jul 2009 02:31:55 GMT)

CIT shares drop 75% on bankruptcy fears as bailout talks fall apart
CIT Group shares tumbled 75% Thursday as its inability to get emergency government funding raised expectations that the commercial lender will file for bankruptcy protection. (Fri, 17 Jul 2009 02:35:19 GMT)

Retailers Fear Impact of a CIT Bankruptcy
The potential bankruptcy of lending firm CIT Group threatens to disrupt the flow of merchandise between retailers and their vendors just as they are gearing up for the crucial holiday season. (Fri, 17 Jul 2009 04:00:00 GMT)

Yen, Dollar Advance on CIT Bankruptcy Concern, Jakarta Blasts
July 17 (Bloomberg) -- The yen and the dollar rose as speculation CIT Group Inc. will file for bankruptcy and blasts in Indonesia spurred demand for the currencies as a refuge. (Fri, 17 Jul 2009 11:21:21 GMT)

One CIT pfd stock may benefit from bankruptcy
NEW YORK (MarketWatch) -- NEW YORK (MarketWatch) -- With the threat of bankruptcy looming for CIT Group Inc., all of its securities plunged in Thursday trading - except for one. (Fri, 17 Jul 2009 12:25:34 GMT)

Yen, Dollar Advance on CIT Bankruptcy Concern, Jakarta Blasts
July 17 (Bloomberg) -- The yen and the dollar rose versus the euro as speculation CIT Group Inc. will file for bankruptcy and blasts in Indonesia spurred demand for the currencies as a refuge. (Fri, 17 Jul 2009 13:21:12 GMT)

Dollar Strengthens on CIT Bankruptcy Concern, Jakarta Blasts
July 17 (Bloomberg) -- The dollar rose versus the euro as speculation CIT Group Inc. will file for bankruptcy and blasts in Indonesia spurred demand for the currencies as a refuge. (Fri, 17 Jul 2009 13:51:11 GMT)

CIT rushes to secure lending, bankruptcy feared
CIT Group Inc was in discussions on Thursday with potential lenders to secure financing, after the collapse of rescue talks with the government left the company on the brink of bankruptcy. (Fri, 17 Jul 2009 14:02:36 GMT)

CIT still fighting to stay out of bankruptcy
CIT Group Inc. is continuing talks with potential lenders to secure billions in much-needed financing and stay out of bankruptcy court after the government declined emergency aid. (Fri, 17 Jul 2009 14:03:21 GMT)

CIT deal hopes rise, but bankruptcy risk remains
CIT Group Inc shares rose on Friday, one day after the company said it was in discussions with lenders to secure financing and amid some speculation that it may be sold without the need for a bankruptcy filing. (Fri, 17 Jul 2009 14:58:38 GMT)

CIT Woes: Will Bankruptcy Restart the Financial Crisis?
CIT appears headed toward bankruptcy, and that has analysts fretting that it's the start of a nasty new chapter in the financial crisis (Fri, 17 Jul 2009 17:10:00 GMT)

Dragged into a bankruptcy that isn't yours
"Bankruptcy" isn't a word business owners want linked to their venture, but when a franchise company goes broke, independent operators get branded by association -- even if their own store remains healthy and profitable. (Fri, 17 Jul 2009 19:35:08 GMT)

Eddie Bauer Chooses Buyer in Bankruptcy Auction
Golden Gate Capital, a private equity firm, won the bankruptcy auction for Eddie Bauer Holdings, the outdoor clothing chain, with a $286 million bid. (Sat, 18 Jul 2009 04:32:05 GMT)

CIT’s Peek May Be Paid Ahead of Treasury in Case of Bankruptcy
July 18 (Bloomberg) -- CIT Group Inc. Chief Executive Officer Jeffrey Peek , under whose leadership the lender’s stock has plunged 98 percent, may be in line ahead of the U.S. government to be paid if CIT files for bankruptcy protection. (Sat, 18 Jul 2009 04:41:01 GMT)

CIT Group’s Banks Said to Weigh Bankruptcy Financing for Lender
July 18 (Bloomberg) -- CIT Group Inc. advisers, including JPMorgan Chase & Co. and Morgan Stanley , are discussing options for funding the lender if it enters bankruptcy, people with knowledge of the matter said. (Sat, 18 Jul 2009 05:44:31 GMT)

Lewis: Don't know much about bankruptcy
There's still a lot I don't know about bankruptcy, but I seem to learn more every week. I did not know that the Chicago Cubs had yet to file bankruptcy, primarily because they are the Cubs. (Sat, 18 Jul 2009 07:11:55 GMT)

Alabama Hardware Distributor Blames CIT Woes for Its Bankruptcy
July 18 (Bloomberg) -- A hardware distributor in Alabama became the first company to blame the troubles of commercial lender CIT Group Inc. for its bankruptcy yesterday when it filed for protection from creditors. (Sat, 18 Jul 2009 07:40:34 GMT)

CIT talks to bondholders; bankruptcy still feared
CIT Group Inc is in talks with a group of bondholders for $2 billion to $3 billion in rescue financing as it tries hard to avoid bankruptcy, a source close to the company said late on Friday. (Sat, 18 Jul 2009 13:22:35 GMT)

CIT talks to bondholders; bankruptcy still feared
NEW YORK (Reuters) - CIT Group Inc is in talks with a group of bondholders for $2 billion to $3 billion in rescue financing as it tries hard to avoid bankruptcy, a source close to the company said late on Friday. (Sat, 18 Jul 2009 13:22:35 GMT)

CIT Group’s Banks Said to Weigh Bankruptcy Financing (Update1)
July 18 (Bloomberg) -- CIT Group Inc. advisers, including JPMorgan Chase & Co. and Morgan Stanley , are discussing options for funding the lender if it enters bankruptcy, people with knowledge of the matter said. (Sat, 18 Jul 2009 17:29:35 GMT)

CIT in talks with bondholders, as bankruptcy looms
CIT Group Inc was in talks with a bondholder group on Saturday, as the lender tried to hammer out a rescue financing deal before markets opened and avoid bankruptcy, a source close to the situation said. (Sun, 19 Jul 2009 02:40:22 GMT)

Cambridge ethanol plant in bankruptcy
The owner of a central Nebraska ethanol plant idled earlier this year has filed for Chapter 11 bankruptcy. The bankruptcy filing for the 44-million-gallon Cambridge plant listed $80 million in assets and $66 million in liabilities. (Sun, 19 Jul 2009 05:50:24 GMT)

MAUI WIPEOUT: Bankruptcy laws, attitudes changing
WAILUKU - The mere word "bankruptcy" sends chills through many self-respecting consumers, bringing embarrassment for the perception of poor personal financial management and the fear of being blackballed by banks and other lending institutions. (Sun, 19 Jul 2009 09:02:32 GMT)

Declaring bankruptcy can save home from foreclosure
WASHINGTON – To most people, bankruptcy is a four-letter word. But when all else fails, after you've tried everything else, declaring bankruptcy is an honest and time-tested legal maneuver to save your house from foreclosure, at least for the time being. (Sun, 19 Jul 2009 09:14:33 GMT)

Bankruptcy red flags
A company goes bankrupt when it runs out of cash to pay its obligations (such as rent, employees, vendors and debt). The first thing to look at when assessing bankruptcy risk is a company's debt position. (Sun, 19 Jul 2009 11:28:31 GMT)

Adoption agency bankruptcy trustee to meet with families
Families swept up in the bankruptcy of a Canadian adoption agency working overseas will meet with the trustee at the end of July in Kitchener, Ont. (Sun, 19 Jul 2009 12:35:33 GMT)

CIT 'exploring bankruptcy financing'
CIT Group advisers, including JPMorgan Chase & Co and Morgan Stanley, are discussing options for funding the lender if it enters bankruptcy. (Sun, 19 Jul 2009 14:17:11 GMT)

CIT Is Near Deal for $3 Billion Loan to Avert Bankruptcy
The CIT Group, one of the nation's leading lenders to small and midsize businesses across the country, was close to a deal Sunday afternoon with some of its major bondholders to help it avert a bankruptcy filing through a $3 billion emergency loan, people briefed on the matter told Dealbook. (Sun, 19 Jul 2009 23:37:19 GMT)

Creditors seek bankruptcy for U.S. craft firm Wilton
Creditors of Wilton Holdings Inc, one of largest makers of equipment for decorating food, asked a court to put the company in Chapter 11 bankruptcy due to $208 million in debts, according to court documents. (Mon, 20 Jul 2009 04:23:56 GMT)

Private Equity Firm Seeks Bankruptcy For Wilton
A private equity firm that holds debt in Wilton Holdings , one of largest makers of equipment for decorating food, asked a court to put the company in Chapter 11 bankruptcy due to $208 million in debts, Reuters said, citing court documents. (Mon, 20 Jul 2009 09:37:23 GMT)

CIT clinches deal to stave off bankruptcy
CIT Group Inc's board signed off on a deal late Sunday for $3 billion in rescue financing from a group of bondholders, in a plan the lender hopes will stave off bankruptcy, a source close to the situation said. (Mon, 20 Jul 2009 10:47:36 GMT)

Futures up on CIT deal to avoid bankruptcy
Stock index futures rose on Monday after CIT Group Inc clinched a deal that could avoid bankruptcy, removing some uncertainty as the financial sector recovers from a deep crisis. (Mon, 20 Jul 2009 11:41:05 GMT)

CIT Is Said to Obtain Urgent Loan to Prevent Bankruptcy
The lender approved a deal with major bondholders to help it avert a bankruptcy filing through a $3 billion emergency loan, people briefed on the matter said. (Mon, 20 Jul 2009 12:02:04 GMT)

Stocks Start Up On Reports CIT Averts Bankruptcy
Stocks Start Up On Reports CIT Averts Bankruptcy (Mon, 20 Jul 2009 13:52:01 GMT)

FSA Puts Mortgage Broker Into Bankruptcy After Fine Isn’t Paid
July 9 (Bloomberg) -- A mortgage broker who failed to pay a then-record fine from Britain’s financial regulator last year has had a bankruptcy notice served against her. (Mon, 20 Jul 2009 15:20:44 GMT)

Charter bankruptcy hearing starts today
Charter Communications Inc. heads to court today to ask a judge to approve its plan to exit from Chapter 11 bankruptcy. (Mon, 20 Jul 2009 15:33:18 GMT)

Stocks march higher after CIT reaches deal to avoid bankruptcy
NEW YORK -- Investors extended the stock market's rally Monday following another batch of upbeat earnings and reports that commercial lender CIT Group has made a deal with key bondholders to avoid bankruptcy. Both the Dow Jones industrials and the... (Mon, 20 Jul 2009 15:42:31 GMT)

Charter Bankruptcy Takeover Plan Criticized by Lender (Update1)
July 20 (Bloomberg) -- Charter Communications Inc. ’s bankruptcy plan should be rejected because it lets Apollo Global Management LLC and other hedge funds take control using bank lenders’ money, a lawyer for JPMorgan Chase & Co. (Mon, 20 Jul 2009 23:54:26 GMT)

Small-Business Lender CIT Strikes Deal With Creditors to Avoid Bankruptcy
The troubled small-business lender CIT Group said Monday that some of its creditors will provide loans of up to $3 billion, allowing the company to forestall a bankruptcy filing that could have cut off critical funding for thousands of its customers. (Tue, 21 Jul 2009 04:00:00 GMT)

US bank in warning on bankruptcy
US bank CIT says it may still have to file for bankruptcy, despite agreeing a $3bn rescue loan from bondholders. (Tue, 21 Jul 2009 06:22:13 GMT)

Three clinics at center of hepatitis outbreak file for bankruptcy
The three medical clinics at the center of last year's hepatitis outbreak filed for bankruptcy Friday, a move that threatens to delay the first civil trial involving a patient infected with hepatitis C. (Tue, 21 Jul 2009 09:30:31 GMT)

Protecting items post-bankruptcy
Dear Bankruptcy Adviser, My parents just filed for bankruptcy. They fell for a sales pitch on an overpriced water system for the home. This bill was included in the bankruptcy. I wanted to see if the company had any rights to go in and pick up the equipment. (Tue, 21 Jul 2009 11:32:29 GMT)

CIT Group warns that a bankruptcy filing is still a possibility despite receiving new $3B loan
NEW YORK (AP) — CIT Group says it might have to file for bankruptcy protection if not enough bondholders participate in an upcoming debt exchange. (Tue, 21 Jul 2009 12:59:09 GMT)

Bankruptcy filings soar in Bay State
BOSTON (AP) -- Another sign of the toll the recession is taking in Massachusetts: Chapter 7 bankruptcy filings increased by 58 percent in the second quarter of the year. (Tue, 21 Jul 2009 14:13:23 GMT)

CIT says bankruptcy filing still a possibility
CIT Group says it might have to file for bankruptcy protection if not enough bondholders participate in an upcoming debt exchange. (Tue, 21 Jul 2009 14:15:05 GMT)

CIT says bankruptcy filing still a possibility
(AP:NEW YORK) CIT Group says it might have to file for bankruptcy protection if not enough bondholders participate in an upcoming debt exchange. The commercial lender offered the grim assessment only a day after major bondholders agreed to provide it with a $3 billion loan. (Tue, 21 Jul 2009 14:26:39 GMT)

CIT Expects Loss of $1.5 Billion, Bankruptcy If Debt Swap Fails
July 21 (Bloomberg) -- CIT Group Inc. , the 101-year old commercial lender seeking to avoid collapse, said it expects to report a loss of more than $1.5 billion for the second quarter and may need to file for bankruptcy if it’s unable to tender for notes maturing next month. (Tue, 21 Jul 2009 15:25:34 GMT)

CIT says bankruptcy filing still a possibility
NEW YORK -- CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange. (Tue, 21 Jul 2009 21:15:46 GMT)

Actor Stephen Baldwin files for bankruptcy
Court records show actor Stephen Baldwin is millions of dollars in debt and has filed for Chapter 11 bankruptcy. (Wed, 22 Jul 2009 06:12:24 GMT)

CIT Says Bankruptcy Is Still Possible
The CIT Group said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participated in its debt exchange. (Wed, 22 Jul 2009 07:22:29 GMT)

Bankruptcy still a possibility, CIT warns regulators
CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange. (Wed, 22 Jul 2009 12:32:05 GMT)

CIT warns about bankruptcy
CIT Group Inc said it may post a loss exceeding $1.5 billion for the second quarter and could file for bankruptcy protection if bondholders reject a debt restructuring, raising new fears that the lender to some 1 million businesses might fail. (Wed, 22 Jul 2009 12:45:53 GMT)

CIT warns about bankruptcy
NEW YORK (Reuters) - CIT Group Inc said it may post a loss exceeding $1.5 billion for the second quarter and could file for bankruptcy protection if bondholders reject a debt restructuring, raising new fears that the lender to some 1 million businesses might fail. (Wed, 22 Jul 2009 12:45:53 GMT)

Stephen Baldwin files for bankruptcy in NY
Actor Stephen Baldwin, brother of Emmy winner and "30 Rock" star Alec Baldwin, filed for bankruptcy in New York on Tuesday, according to a court document that says he is millions in debt. (Wed, 22 Jul 2009 13:05:19 GMT)

Actor Stephen Baldwin files for bankruptcy
Court records show actor Stephen Baldwin is millions of dollars in debt and has filed for Chapter 11 bankruptcy. A filing Tuesday in federal court in New York shows that Baldwin owes $1.2 million in two mortgages on a property about 30 miles north of New York City valued at $1.1 million. (Wed, 22 Jul 2009 13:22:31 GMT)

Stephen Baldwin Files For Bankruptcy
Actor Stephen Baldwin Files For Bankruptcy, Owes Millions Of Dollars, Court Filings Show (Wed, 22 Jul 2009 14:00:03 GMT)

Stephen Baldwin files for bankruptcy
Stephen Baldwin, the youngest member of the Baldwin brothers family of actors and recently seen as a contestant on TV's I'm a Celebrity...Get Me Out of Here!, has filed for bankruptcy, according to court records. (Wed, 22 Jul 2009 15:27:51 GMT)

CIT Bond Advisers Said to Push for Bankruptcy After August Swap
July 22 (Bloomberg) -- Advisers to the bondholders that gave CIT Group Inc. a $3 billion rescue loan are recommending the commercial lender be restructured through a bankruptcy after a debt tender next month, according to a person familiar with the matter. (Thu, 23 Jul 2009 00:54:05 GMT)

CIT Bond Advisers Push Bankruptcy: Report
Advisers to the bondholders that rescued CIT Group with a $3 billion loan are recommending creditors push the company into Chapter 11 bankruptcy after a debt swap next month, a report says. (Thu, 23 Jul 2009 04:51:23 GMT)

Stephen Baldwin feels sting of bankruptcy
Court records show Stephen Baldwin is millions of dollars in debt and has filed for Chapter 11 bankruptcy. A filing Tuesday in federal court in New York shows that the "Usual Suspects" actor owes $1.2 million in two mortgages on a property valued at $1.1 million. The document shows he also owes more than $1 million in taxes and has about $70,000 in credit card debt. Last month, Baldwin left ... (Thu, 23 Jul 2009 10:30:57 GMT)

CIT Could Restructure via Pre-Packaged Bankruptcy
Advisers to bondholders that rescued CIT Group Inc. with a $3 billion loan believe creditors should push the company into Chapter 11 bankruptcy next month after a debt swap, a person familiar with the matter told Bloomberg News. (Thu, 23 Jul 2009 11:07:19 GMT)

CIT bond advisers to push for bankruptcy: report
The advisers to the bondholders that provided lender CIT Group Inc with a $3 billion loan facility this week are recommending it be restructured through a bankruptcy following a debt tender in August, Bloomberg reported on Wednesday, citing a person familiar with the matter. (Thu, 23 Jul 2009 12:48:12 GMT)

CIT Default Swaps Trade at Record High on Bankruptcy Concern
July 23 (Bloomberg) -- The cost to protect CIT Group Inc. bonds from default traded at a record high on speculation a $3 billion loan may not save the finance company from bankruptcy. (Thu, 23 Jul 2009 14:36:47 GMT)

Change in bankruptcy laws would stimulate enterprise
An overhaul in bankruptcy laws would help the UK entrepreneurial community, a new report claims. (Thu, 23 Jul 2009 15:21:38 GMT)

Charter Wins Extension in Bankruptcy Control Rights (Update1)
July 23 (Bloomberg) -- Charter Communications Inc. has exclusive rights to control its own bankruptcy until Nov. 22, after judge granted an extension amid controversy over the current reorganization plan. (Thu, 23 Jul 2009 15:36:39 GMT)

CIT creditor advisers seek bankruptcy option: source
Advisers to large bondholders of CIT Group Inc are pushing to allow the company to restructure its debt with a prepackaged bankruptcy option should later debt exchanges fail to attract enough creditors, a source close to the negotiations said on Thursday. (Thu, 23 Jul 2009 18:37:51 GMT)

Michael Sweet and Peter Bianchini: Cities generally have alternatives to bankruptcy
Last year's bankruptcy filing by the city of Vallejo and the prospect of bankruptcies of several other cities have been a wake-up call for municipalities across the state. (Fri, 24 Jul 2009 07:00:12 GMT)

EX-OTB HEAD: BANKRUPTCY A DUMB BET
OTB's former chairman is questioning a proposal to seek bankruptcy protection for the city's only legal bookie, saying it makes no sense for the state to have taken over the operation if that was the objective. "What has to be done is to change... (Fri, 24 Jul 2009 10:42:16 GMT)

Negotiating a new deal after filing for bankruptcy
Q: My parents just filed for bankruptcy. They fell for a sales pitch on an overpriced water system for the home.... (Fri, 24 Jul 2009 12:16:39 GMT)

CIT Group amends terms of debt offer, repeats that bankruptcy filing possible if unsuccessful
NEW YORK - Small-business lender CIT Group Inc. said Friday it has sweetened some terms of a buyback offer for $1 billion of debt and repeated that it may have to seek bankruptcy protection if enough noteholders don't agree to it. (Fri, 24 Jul 2009 13:28:03 GMT)

CIT acts to avoid bankruptcy
The lender amends its tender offer to attract more bondholders and says it could file for bankruptcy if debt restructuring fails. (Fri, 24 Jul 2009 13:47:14 GMT)

CIT May Need to Seek Bankruptcy After Tender Offer (Update1)
July 24 (Bloomberg) -- CIT Group Inc. , the commercial lender seeking to avoid collapse, said it may still need to seek bankruptcy protection even if its debt tender offer succeeds because of the risk of a draw down of loans by its customers. (Fri, 24 Jul 2009 14:15:17 GMT)

Charter bankruptcy timeline extended
Charter Communications Inc. can control its own bankruptcy until Nov. 22, after a judge granted an extension amid controversy over its reorganization plan, Bloomberg News reports. (Fri, 24 Jul 2009 15:33:09 GMT)

Actor Stephen Baldwin seeks bankruptcy
Court records show actor Stephen Baldwin is millions of dollars in debt and has filed for Chapter 11 bankruptcy. (Fri, 24 Jul 2009 15:43:47 GMT)

Rethinking Bankruptcy
Bankruptcy is a key component of this country's safety net. If you plan ahead, it doesn't have to wipe you out, writes Brett Arends. (Fri, 24 Jul 2009 16:53:34 GMT)

Somerset boat dealer files for bankruptcy
Lake Cumberland Marine, a dealer of performance boats in Somerset, filed for bankruptcy protection t (Fri, 24 Jul 2009 20:40:22 GMT)

THE PINES LANDS NEW TENANT, GETS MAINTENANCE FUNDS APPROVAL FROM BANKRUPTCY COURT
Although its owner filed for bankruptcy in April and it has seen a loss of tenants recently, The Pines mall has some good news to report: A new tenant and about $100,000 in building maintenance scheduled for the fourth quarter. (Sat, 25 Jul 2009 03:18:49 GMT)

CIT bond advisers to push for bankruptcy: report 
The advisers to the bondholders that provided lender CIT Group Inc with a $3 billion loan facility this week are recommending it be restructured through a bankruptcy following a debt tender in August, Bloomberg reported on Wednesday, citing a person familiar with the matter. (Sat, 25 Jul 2009 04:54:00 GMT)

Drug developer files for bankruptcy
A once-promising drug development company that raised millions of dollars in venture capital has filed for liquidation under Chapter 7 of the federal bankruptcy code. (Sat, 25 Jul 2009 06:03:31 GMT)

Jones Day accumulated $635,872 in out-of-pocket expenses in Chrysler bankruptcy case so far
Those costs didn't include the hourly lawyers' fees, which accounted for most of Jones Day's $4.9 million in charges in June and $12.7 million in May. The bills will be paid out of the assets in the bankruptcy. (Sat, 25 Jul 2009 08:43:50 GMT)

Once on top of the world, Bernie Kosar files for bankruptcy
Once on top of the world, Bernie Kosar recently filed for bankruptcy (Editor's note: In the days following Bernie Kosar's application for backruptcy in June, he agreed to an interview with Dan Le Batard of the Miami Herald.) By Dan Le Batard McClatchy New (Sat, 25 Jul 2009 13:13:16 GMT)

Grant Bovey faces new bankruptcy threat
Grant Bovey faces new bankruptcy threat (Sat, 25 Jul 2009 23:46:46 GMT)

Bankruptcy battle erupts over Mount Holly Club
A bankruptcy battle has broken out at the idled Elk Meadows ski area, where developers couldn't raise enough money to build... (Sun, 26 Jul 2009 03:53:48 GMT)

Virginia Hammerle: Filing for bankruptcy is only the beginning
The U.S. Bankruptcy Code is more confusing than the Internal Revenue Code. I don't say that lightly. Anyone who has ever filed a tax return knows that, had it existed in the 14th century, Dante would have added the Internal Revenue Code as the 10th Circle of Hell.  (Sun, 26 Jul 2009 03:57:30 GMT)

About Real Estate: Can filing for bankruptcy lead home insurer to drop coverage?
Question: We have had the same company provide our homeowners insurance for about 11 years, and we have never made a claim for damages. Last week, however, we were shocked when we received a letter from the company that said our policy will not be renewed when our current one expires in August because we filed for bankruptcy earlier this year. All of our insurance payments are up to date because ... (Sun, 26 Jul 2009 04:05:57 GMT)

Bankruptcy and mortgage refinancing
Q: Will bankruptcy prevent me from refinancing my mortgage even if I'm always on time with my payments?— Darrell W., Denver (Sun, 26 Jul 2009 07:22:46 GMT)

Russia looks at bankruptcy reform to ease restructuring
Russia is preparing to overhaul its bankruptcy laws in a move to help crisis-hit companies survive financial restructuring without being broken up as fears over economic stagnation because of mounting bad loans grow. (Mon, 27 Jul 2009 02:13:15 GMT)

Russia plans bankruptcy law reform - FT
LONDON, July 27 (Reuters) - Russia plans to overhaul its bankruptcy laws to help crisis-hit companies survive financial restructuring without being broken up, the Financial Times quoted an adviser to President Dmitry Medvedev as saying. (Mon, 27 Jul 2009 03:23:31 GMT)

Bray & Gillespie bankruptcy ends; will continue to run 16 hotels
Volusia County hotel developer and operator Bray & Gillespie Management LLC saved more than 450 jobs and 16 of its 24 hotels when it exited Chapter 11 bankruptcy protection on July 15, according to court records. It also averted a potential disaster for the county’s tourism industry. (Mon, 27 Jul 2009 04:18:13 GMT)

Eileen Ambrose: DIY bankruptcy — with a little help from the state
M any financial matters you can easily do on your own without professional help. Filing for bankruptcy isn't one of them. But if you choose to do so, you're no longer totally left on your own in Maryland to navigate the intricacies of bankruptcy. (Mon, 27 Jul 2009 08:40:25 GMT)

Town may file for bankruptcy protection
Facing a debt of $1.45 million over a long-delayed sewage plant project, the Floyd County town of Georgetown has taken the first step toward what would be an unprecedented move for an Indiana municipality — filing for bankruptcy protection. (Mon, 27 Jul 2009 08:55:51 GMT)

Bankruptcy for Shoppes at Silver Spring
Just three years after opening their shopping center, the owners of the Shoppes at Silver Spring at 6499 Carlisle Pike have filed for Chapter 11 bankruptcy. (Mon, 27 Jul 2009 13:59:08 GMT)

Bankruptcy and Restructuring Activity Increases 300 Percent Year-Over-Year
NEW YORK, July 27 /PRNewswire/ -- IntraLinks((R)), the leading provider of critical information exchange solutions, also known as virtual datarooms, saw overall bankruptcy and restructuring activity increase 329 percent in the first half of 2009 compared to the previous year. (Mon, 27 Jul 2009 14:23:07 GMT)

Town Considers Bankruptcy In Face Of $1.45 Million Debt
A southern Indiana town board is considering filing for bankruptcy protection over a potential $1.45 million debt even though officials said state law doesn't allow that action. (Mon, 27 Jul 2009 15:09:53 GMT)

Indiana town considers bankruptcy over $1.4M debt
A southern Indiana town board is considering filing for bankruptcy protection over a potential $1.45 million debt even though officials say state law doesn't allow that action. (Mon, 27 Jul 2009 15:18:13 GMT)

Library financial series to tackle bankruptcy
Attorney John Biallas will present a seminar aimed at dispelling the myths and misinformation about bankruptcy from 6:30 to 8:30 p.m. Wednesday, Aug. 5, at the St. Charles Public Library, 1 S. Sixth Ave. (Mon, 27 Jul 2009 15:52:21 GMT)

Delphi Appears Set to Emerge From Bankruptcy
After a third try at making an exit, the parts maker may finally have an agreement to pull it out of bankruptcy. (Tue, 28 Jul 2009 02:01:54 GMT)

Delphi's Lenders Win At Bankruptcy Auction: WSJ
Delphi's Lenders Win At Bankruptcy Auction: WSJ (Tue, 28 Jul 2009 02:47:06 GMT)

Delphi’s Board Approves New Bankruptcy Exit Plan
Delphi , the auto parts supplier that has been in bankruptcy for nearly four years, looks set to emerge after a third try at developing an exit plan, The New York Times’s Michael J. de la Merced reported Monday. (Tue, 28 Jul 2009 03:37:18 GMT)

Bankruptcy Lenders Win Auction For Delphi Control
Bankruptcy Lenders Win Auction For Delphi Control (Tue, 28 Jul 2009 06:17:06 GMT)

Delphi says creditors win in auction of assets as it bids to emerge from bankruptcy
NEW YORK - Auto parts maker Delphi Corp. says its creditors won out over a California private-equity firm in an auction for the company's assets as it moves to emerge from bankruptcy protection. (Tue, 28 Jul 2009 12:28:32 GMT)

Stant Corp., Car Fuel-Systems Maker, Files Bankruptcy (Update1)
July 28 (Bloomberg) -- Stant Corp. , a 111-year-old maker of automotive fuel systems, fuel and radiator caps and thermostats, filed for bankruptcy protection. (Tue, 28 Jul 2009 13:24:38 GMT)

Law won't let town file for bankruptcy
GEORGETOWN #8212; A southern Indiana town board is considering trying to file for bankruptcy protection over a potential $1.45 million debt, even though officials say state law won #8217;t allow the town to take that step. (Tue, 28 Jul 2009 14:15:00 GMT)

Bankruptcy courts likely to rule today on Nortel bid
Bankruptcy courts in Toronto and Wilmington, Delaware are expected to rule Tuesday on LM Ericsson's bid to buy Nortel Network's wireless business. (Tue, 28 Jul 2009 14:40:43 GMT)

CIT’s Best Option Is Prepackaged Bankruptcy, CreditSights Says
July 28 (Bloomberg) -- CIT Group Inc. ’s best option is to restructure its debt through a prepackaged bankruptcy, according to CreditSights Inc. The 101-year-old commercial lender seeking to avoid collapse could exit a prepackaged bankruptcy, in which bondholders approve a reorganization plan before a company files, within two months, New York-based CreditSights analysts Adam Steer and David ... (Tue, 28 Jul 2009 15:44:43 GMT)

Restaurant owner files bankruptcy, avoids paying settlement
Four companies owned by Guillermo Perales filed for Chapter 11 bankruptcy protection in Fort Worth. The companies operate nearly 50 Golden Corral restaurants in at least six states. Perales' attorney says the bankruptcy stemmed from an assault of a female employee in 2004 in a Burger King outlet owned by a separate Perales company. The woman obtained a judgment of nearly a million. (Tue, 28 Jul 2009 15:53:50 GMT)

Station Casinos Seeks Bankruptcy After Talks With Lenders Fail
July 28 (Bloomberg) -- Station Casinos Inc. , taken private by Colony Capital LLC and management in 2007, filed for bankruptcy after failing to reach agreement with unsecured creditors on a plan for a pre-packaged court restructuring. (Tue, 28 Jul 2009 23:25:37 GMT)

Station Casinos Files for Bankruptcy as Talks Fail (Update1)
July 28 (Bloomberg) -- Station Casinos Inc. , taken private by Colony Capital LLC and management in 2007, filed for Chapter 11 bankruptcy after failing to reach agreement with unsecured creditors on a plan for a pre-packaged court restructuring. (Tue, 28 Jul 2009 23:54:06 GMT)

Golden Corral operators go into bankruptcy
One of the largest Hispanic restaurateurs in the nation has put the companies that operate his Golden Corral restaurants into bankruptcy to control the payout of a nearly $1 million judgment, an attorney for the companies said. (Wed, 29 Jul 2009 03:47:06 GMT)

Spansion Seeks to Emerge From Bankruptcy in Q4
Chip maker Spansion plans to emerge from Chapter 11 bankruptcy in the fourth quarter of this year as steps taken to reduce debt and operating costs appear to be paying off. (Wed, 29 Jul 2009 04:10:20 GMT)

Spansion Seeks to Emerge From Bankruptcy in Q4
Flash memory chip maker Spansion hopes to emerge from bankruptcy in the fourth quarter of this year. (Wed, 29 Jul 2009 04:46:55 GMT)

Applied Solar files for Chapter 11 bankruptcy
Carmel Valley solar developer Applied Solar, formerly Open Energy, said yesterday that it has filed for Chapter 11 bankruptcy protection. It said it owes creditors $29 million but has assets of $17.6 million. (Wed, 29 Jul 2009 09:16:38 GMT)

ProtoStar Ltd., Satellite Operator, Files Bankruptcy (Update2)
July 29 (Bloomberg) -- ProtoStar Ltd., the operator of two satellites providing digital television and broadband Internet to Asia, filed for bankruptcy protection in the U.S., citing a dispute over a contract canceled by Moscow-based Intersputnik. (Wed, 29 Jul 2009 15:35:09 GMT)

Delphi bankruptcy faces 2000 objections
Delphi Corporation heads to court today seeking a judge's approval of a deal that could hand control of the auto supplier to its lenders and end four years of bankruptcy protection.   (Wed, 29 Jul 2009 15:40:04 GMT)

Bankruptcy court approves Eddie Bauer bid
SEATTLE -- Clothing retailer Eddie Bauer Holdings Inc. said Friday that Golden Gate Capital's $286 million cash bid was approved by the bankruptcy court. (Wed, 29 Jul 2009 15:51:37 GMT)

Childrens Group Files for Bankruptcy
Rainbows United said in a news release Wednesday that its board of directors decided to file for Chapter 11 bankruptcy after members "discovered financial irregularities'' in the agency's financial reports. (Wed, 29 Jul 2009 15:58:49 GMT)

Bankruptcy filings escalate
Chapter 7 bankruptcy filings, in which companies liquidate completely or consumers give up trying to pay their debts, soared 60 percent in North Georgia during the first six months of this year, compared with the same period in 2008. (Thu, 30 Jul 2009 06:48:34 GMT)

Vick bankruptcy lawyers seek $1.5M for their fees
Michael Vick's New York-based bankruptcy lawyers are asking a judge to approve $1.5 million for their fees, a reduction of more than $1 million from what they originally sought. (Thu, 30 Jul 2009 07:43:02 GMT)

Vick bankruptcy lawyers seek $1.5M for their fees
Michael Vick's New York-based bankruptcy lawyers are asking a judge to approve $1.5 million for their fees, a reduction of more than $1 million from what they originally sought. U.S. Bankruptcy Judge Frank Santoro will consider the matter at a hearing... Sponsored Topics: Michael Vick - United States - Bankruptcy - Law - Fabrice Santoro (Thu, 30 Jul 2009 08:24:54 GMT)

Vick bankruptcy hearing due; lawyers want $1.5 million
NEWPORT NEWS—Disgraced NFL quarterback Michael Vick’s bankruptcy case is due for a hearing today in a Newport News federal courtroom. Among the motions to be considered at the 10 a.m. hearing is a request by Vick’s lawyers to be paid $1.5 million in fees. Vick was released from federal custody last week after serving a sentence for a dogfighting conviction, and he was conditionally reinstated to ... (Thu, 30 Jul 2009 10:06:51 GMT)

Judge will decide on Delphi bankruptcy case later today
NEW YORK #8212; The judge overseeing Delphi Corp. #8217;s bankruptcy case is expected to rule today on the auto supplier #8217;s plan to hand control of the company to its lenders and eventually end its nearly four-year stay in Chapter 11. (Thu, 30 Jul 2009 12:14:41 GMT)

Delphi Bankruptcy Ruling Coming Soon
Auto Parts Supplier Could End Nearly Four-Year Stay in Bankruptcy (Thu, 30 Jul 2009 13:00:07 GMT)

Vick's bankruptcy lawyers seek $1.5M for fees
NEWPORT NEWS, Va. - Michael Vick's New York-based bankruptcy lawyers are asking a judge to approve US(Canadian) $1.5 million for their fees, a reduction of more than (Canadian) $1 million from what they originally sought. (Thu, 30 Jul 2009 13:03:03 GMT)

Renaissance Homes emerging from bankruptcy
Renaissance Homes took another step in the bankruptcy process by filing a reorganization plan June 30, a possible sign the Lake Oswego builder is getting its financial house back in order. The company filed for Chapter 11 bankruptcy last September, blaming the economic slowdown and failed home ... (Thu, 30 Jul 2009 14:40:52 GMT)

Troubled trucker YRC Worldwide set to report 2nd-quarter results amid bankruptcy speculation
NEW YORK — As YRC Worldwide Inc. readies to report second-quarter results after the market closes Thursday, analysts continue to suggest that the trucking company may file for bankruptcy. (Thu, 30 Jul 2009 14:58:30 GMT)

How to Help Clients Work Through the Challenges of Business Bankruptcy
Bankruptcy. It's a word agents and brokers will need to get used to hearing from their business clients. It's not just occurring on Wall Street; it's happening every day on Main Streets across the ... (Thu, 30 Jul 2009 15:19:19 GMT)

Delphi wins approval to exit bankruptcy
Delphi, the former auto parts arm of General Motors, said Thursday a judge approved its plan to exit bankruptcy protection and that it expects to emerge "during the current calendar quarter." (Thu, 30 Jul 2009 18:53:53 GMT)

Judge Clears Way for Delphi to Exit Bankruptcy
The new proposal would involve Delphi’s debtor-in- possession lenders, whose loans totaling $3.4 billion have kept the company operating in bankruptcy, taking over most of the supplier’s assets. (Thu, 30 Jul 2009 19:16:44 GMT)

Bankruptcy judge approves lender's bid for Delphi
A bankruptcy judge on Thursday approved Delphi Corp.'s plan to hand control of the big auto parts supplier to its lenders and soon end a nearly four-year stay under Chapter 11 protection. (Fri, 31 Jul 2009 01:54:25 GMT)

Judge Approves Delphi Sale Plan, Clears Way for Bankruptcy Exit
After 4 1/2 years, Delphi Corp. can see the exit sign. U.S. bankruptcy Judge Robert Drain told a packed Manhattan courtroom Thursday that he had approved Delphi's plan to hand over control of the company to its debtor-in-possession lenders. (Fri, 31 Jul 2009 07:02:04 GMT)

Hearing set on Vick's revised bankruptcy plan
Michael Vick is again seeking approval of his Chapter 11 bankruptcy plan to repay creditors. (Fri, 31 Jul 2009 07:50:22 GMT)

Hearing Set on Vick's Revised Bankruptcy Plan
Judge to consider Vick's revised bankruptcy plan, which offers creditors bigger cut (Fri, 31 Jul 2009 08:24:08 GMT)

Bankruptcy Judge Approves Lender’s Bid for Delphi
A bankruptcy judge on Thursday approved Delphi ’s plan to hand control of the big auto parts supplier to its lenders and soon end a nearly four-year passage through Chapter 11 protection, The Associated Press reported. (Fri, 31 Jul 2009 08:52:22 GMT)

Default Increase Curbs Bankruptcy Lending as Recoveries Dwindle
July 31 (Bloomberg) -- Companies on the verge of bankruptcy are finding it harder and more expensive than ever to get loans to help nurse them back to health. (Fri, 31 Jul 2009 12:31:32 GMT)

Hearing set on Vick's revised bankruptcy plan
Michael Vick is again seeking approval of his Chapter 11 bankruptcy plan to repay creditors. U.S. Bankruptcy Judge Frank Santoro is scheduled to conduct a hearing Friday on Vick's revised plan to pay his creditors. (Fri, 31 Jul 2009 14:05:14 GMT)

Finlay Said to Get Two Bids Before Possible Bankruptcy Filing
July 31 (Bloomberg) -- Finlay Enterprises Inc. , the jewelry retailer founded in 1887, received two bids in advance of a potential bankruptcy filing, according to two people familiar with the situation. (Fri, 31 Jul 2009 15:25:46 GMT)

Creditors to vote on new Vick bankruptcy plan
NEWPORT NEWS, Va. (AP) -- A Virginia judge says Michael Vick's revised bankruptcy plan can be sent to creditors for a vote. (Fri, 31 Jul 2009 17:33:03 GMT)

Finlay Said to Get 2 Bids Before Possible Bankruptcy (Update1)
July 31 (Bloomberg) -- Finlay Enterprises Inc. , the jewelry retailer founded in 1887, received two bids in advance of a potential bankruptcy filing, according to two people familiar with the situation. (Fri, 31 Jul 2009 20:24:02 GMT)

GM Said to Favor RHJ Offer for Opel or Bankruptcy (Update1)
July 31 (Bloomberg) -- General Motors Co. ’s Opel unit may be forced into bankruptcy if the automaker and the German government fail to agree on a buyer, according to three people close to the trust that controls the division. (Fri, 31 Jul 2009 22:18:23 GMT)

Creditors to vote on Vick bankruptcy plan
Though a judge ruled that Michael Vick's bankruptcy plan can be sent to creditors to vote on, it remains unclear how the out-of-work quarterback will get the income to pay them. (Fri, 31 Jul 2009 23:47:14 GMT)

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