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Home > Bankruptcy News

Bankruptcy News Nov 2010

Downey, TriDimension, Point Blank, Loehmann's, Threat to Sue: Bankruptcy
The bankruptcy trustee for Downey Financial Corp. , whose bank subsidiary Downey Saving and Loan Association was taken over by regulators in November 2008, sued the Federal Deposit Insurance Corp. to decided who’s entitled to receive almost $400 million in federal income tax refunds. The FDIC was named receiver for the savings bank when it was taken over. (Mon, 01 Nov 2010 00:14:45 -0700)

Ambac Seeks Prepackaged Bankruptcy
Ambac Financial Group , the troubled bond insurance company, said in a regulatory filing on Monday that it is in talks with creditors about filing a bankruptcy plan that would help the firm reorganize its huge debt load. (Mon, 01 Nov 2010 05:12:37 -0700)

Decision on Drumm's US bankruptcy next week
An application to have David Drumm's US bankruptcy proceedings recognised by the Irish courts will not now be made until next week. (Mon, 01 Nov 2010 05:44:42 -0700)

McNamara bankruptcy proceedings adjourned
Bankruptcy proceedings against developer Bernard McNamara have been adjourned for four weeks. (Mon, 01 Nov 2010 05:56:05 -0700)

Ambac Seeks Restructuring With Prepackaged Bankruptcy
Ambac Financial Group Inc., whose bond insurance unit is being restructured by Wisconsin regulators, said it’s seeking a prepackaged bankruptcy agreement with an ad hoc committee of senior debt holders. (Mon, 01 Nov 2010 06:02:41 -0700)

Ambac misses interest payment, may file bankruptcy
Shares of Ambac plunge as the company says it would miss an interest payment on its debt and may file for bankruptcy by year-end. (Mon, 01 Nov 2010 06:16:10 -0700)

Ambac in Bankruptcy Talks
Ambac is in talks with senior creditors to file a prepackaged bankruptcy. (Mon, 01 Nov 2010 07:13:47 -0700)

National Enquirer publisher seeking bankruptcy protection
American Media Inc., publisher of the tabloid National Enquirer, announced plans Monday to file for bankruptcy protection to allow a restructuring of the company. (Mon, 01 Nov 2010 08:43:12 -0700)

Ambac sees bankruptcy ahead
A signal moment of the financial meltdown came a step closer to reality Monday. (Mon, 01 Nov 2010 09:27:13 -0700)

Bankruptcy case looms for National Enquirer owner
After years of dishing tales of celebrity folly and misfortune, The National Enquirer's publisher has fallen on hard times of its own. (Mon, 01 Nov 2010 12:36:08 -0700)

Summary Box: Ambac seeks prepackaged bankruptcy
BANKRUPTCY LIKELY: Bond insurer Ambac Financial Group Inc. is likely to file for bankruptcy by the end of the year, either through a prepackaged plan arranged with senior debt holders or through Chapter 11 proceedings. (Mon, 01 Nov 2010 13:01:24 -0700)

Ambac in talks for prepackaged bankruptcy
Bond insurer Ambac Financial Group Inc. said Monday it will file for bankruptcy by the end of the year, either through a prepackaged plan arranged with senior debt holders or through Chapter 11 proceedings. (Mon, 01 Nov 2010 14:06:44 -0700)

Ambac eyes bankruptcy protection
US bond insurer Ambac says it may be forced to file for bankruptcy protection after failing to make an interest payment due on Monday. (Mon, 01 Nov 2010 14:33:35 -0700)

Capmark, Las Vegas Monorail, Ambac, RHI, Innkeepers, Centaur: Bankruptcy
Capmark Financial Group Inc. emerged victorious from an October trial yesterday when the bankruptcy judge filed a 93-page opinion explaining his approval of a settlement with secured lenders. The creditors’ committee was opposed to the settlement and sought authority to sue the lenders. (Mon, 01 Nov 2010 22:45:30 -0700)

Hawaii bankruptcy filings go below 300
The number of Hawaii residents filing for bankruptcy dropped below 300 in October for the first time in eight months, although local bankruptcy attorneys say business is still brisk by historical standards. (Tue, 02 Nov 2010 04:38:51 -0700)

The Bankruptcy Examiner's Report: Shining A Bright Light On Auditor Failure
It's easier to bring the Big 4 auditors to court than bring them to justice. They almost always sett (Tue, 02 Nov 2010 05:59:55 -0700)

WaMu path clearer to bankruptcy exit
Shares of Washington Mutual Inc fell 60 percent on Tuesday after a court-appointed examiner extinguished hopes that stockholders would recover anything in the two-year-old bankruptcy. (Tue, 02 Nov 2010 08:49:54 -0700)

Boston Generating, Fuddruckers, Broadstripe, Barzel, InSight: Bankruptcy
The bankruptcy court has the right to preside over the sale of Boston Generating LLC, the owner of five electric generating plants in the Boston area, U.S. District Judge Denise Cote in Manhattan ruled. (Tue, 02 Nov 2010 21:24:52 -0700)

Metro-Goldwyn-Mayer Files Bankruptcy After Rejecting Lions Gate Takeover
Metro-Goldwyn-Mayer Inc. , distributor of James Bond and Rocky movies, filed for bankruptcy after rejecting a takeover bid by Lions Gate Entertainment Corp. and billionaire Carl Icahn . It began its bankruptcy filing with an affiliate, Orion TV Productions Inc., filing a petition in Manhattan federal court. (Wed, 03 Nov 2010 07:29:35 -0700)

MGM studio files bankruptcy, eyes lender takeover
Metro-Goldwyn-Mayer Studios Inc, one of Hollywood's most storied film studios, filed for bankruptcy protection on Wednesday after struggling for years to reduce its debt load. (Wed, 03 Nov 2010 08:02:20 -0700)

Metro-Goldwyn-Mayer files for bankruptcy after creditors strike deal with Carl Icahn
Metro-Goldwyn-Mayer, Hollywood's fabled and once most powerful studio, has filed for bankruptcy protection after it could no longer pay down its crippling debt or make and release new movies. The filing, made Wednesday morning, comes after MGM's leading creditors struck... (Wed, 03 Nov 2010 09:03:51 -0700)

Metro-Goldwyn-Mayer files for bankruptcy
Metro-Goldwyn-Mayer, Hollywood's fabled and once most powerful studio, has filed for bankruptcy protection after it could no longer pay down its crippling debt or make and release new movies. (Wed, 03 Nov 2010 09:32:06 -0700)

Movie Giant Files for Bankruptcy
Metro-Goldwn-Mayer, Home of James Bond, Says It Has Filed for Bankruptcy Protection (Wed, 03 Nov 2010 14:30:04 -0700)

Movie Giant Files for Bankruptcy
Metro-Goldwn-Mayer, Home of James Bond, Says It Has Filed for Bankruptcy Protection (Wed, 03 Nov 2010 14:30:04 -0700)

MGM studio files for bankruptcy, Icahn backs plan
Metro-Goldwyn-Mayer Studios Inc filed for bankruptcy on Wednesday, marking a climax to a drawn-out restructuring for the storied Hollywood studio that controls the James Bond films and made "The Wizard of Oz." (Wed, 03 Nov 2010 15:54:45 -0700)

MGM declares bankruptcy after Icahn agrees plan
Legendary Hollywood film studio MGM declared bankruptcy Wednesday, with reorganization plans approved by billionaire investor Carl Icahn under an agreement with Spyglass Entertainment. (Wed, 03 Nov 2010 16:57:17 -0700)

'Hobbit' money sought as MGM files for bankruptcy
Hollywood studio Metro-Goldwyn-Mayer Inc., the home of James Bond, filed for bankruptcy protection on Wednesday in a plan that had the backing of its lenders and put funding of its half of "The Hobbit" back on track. (Wed, 03 Nov 2010 17:28:43 -0700)

Starwatch Consumer | Bankruptcy bounce
Bankruptcy bounce Bankruptcy filings by U.S. consumers totaled 132,173 last month, 1.4 percent more than in September but 2.8 percent lower than last October, the American Bankruptcy Institute said. Americans are on track to file 1.6 million bankruptcies this year, and the 1.3 million filings so far is worse than the 1.2 million filed last year through October. (Wed, 03 Nov 2010 20:28:46 -0700)

MGM files for bankruptcy
Hollywood studio Metro-Goldwyn-Mayer Inc., the home of James Bond, filed for bankruptcy protection on Wednesday in a plan that had the backing of its lenders, and it sought permission to begin funding its half of "The... (Thu, 04 Nov 2010 00:36:40 -0700)

'Hobbit' money sought as MGM files for bankruptcy
Hollywood studio Metro-Goldwyn-Mayer Inc., the home of James Bond, filed for bankruptcy protection on Wednesday in a plan that had the backing of its lenders and put funding of its half of "The Hobbit" back on track. (Thu, 04 Nov 2010 04:37:20 -0700)

Treasury Bonds, MGM Bankruptcy: Hot Trends
'Treasury bonds' and 'MGM bankruptcy' are the trending topics on Google and Yahoo. (Thu, 04 Nov 2010 06:44:11 -0700)

Bankruptcy judge approves Sea Island sale
A bankruptcy judge has approved Sea Island Co.'s plan to sell its luxury resorts, golf courses and private clubs to settle the Georgia company's Chapter 11 case. (Thu, 04 Nov 2010 12:28:44 -0700)

MGM Bankruptcy: Inside the Courtroom Drama
MGM Studios bankruptcy hit the courtroom today, sprinkled with the kind of drama (and a little comic relief) usually poured into a silver screen blockbuster. (Thu, 04 Nov 2010 13:06:24 -0700)

Bankruptcy Judge Approves Sea Island Sale
Bankruptcy judge in Georgia approves Sea Island Co. sale to settle Chapter 11 case (Thu, 04 Nov 2010 13:14:06 -0700)

California City to Weigh Exit From Biggest Municipal Bankruptcy Since 1994
The City Council of Vallejo , California , will consider a way to exit bankruptcy at a meeting later this month, two years after it became the largest community to seek court protection since Orange County in 1994. (Thu, 04 Nov 2010 21:24:52 -0700)

MGM Studios, Lehman, Cloverleaf, Tamarack, Dykstra, Chemtura: Bankruptcy
Metro-Goldwyn-Mayer Inc . held its first Chapter 11 hearing yesterday and the bankruptcy judge set aside Dec. 2 for a confirmation hearing to consider approving the reorganization plan that creditors accepted in advance. (Thu, 04 Nov 2010 21:25:02 -0700)

Bankruptcy no solution to hike in university fees
RSM Tenon' s personal bankruptcy head has warned students that applying for bankruptcy will be no solution to the bigger university fees planned by the government. (Fri, 05 Nov 2010 00:31:18 -0700)

Community Connection can participate in Germantown Settlement bankruptcy liquidation
A federal judge will allow a citizens group to participate in the Germantown Settlement's bankruptcy liquidation, setting the stage for an aggressive inquiry into the whereabouts and ownership of the social-service agency's assets. (Fri, 05 Nov 2010 00:42:16 -0700)

Garlock, PharMerica-Chem Rx, Brown, Precision Parts, Orleans: Bankruptcy
George R. Hodges , a U.S. Bankruptcy Judge in Charlotte, North Carolina, must decide whether to cede control of part of the reorganization of Garlock Sealing Technologies LLC to a bankruptcy judge in Delaware. (Sun, 07 Nov 2010 21:23:23 -0800)

After bankruptcy, back in debt again
If you don't learn from a past "near-debt" experience, you will have to repent with creditors. (Mon, 08 Nov 2010 03:00:00 -0800)

Health Costs Fuel Rise in Bankruptcy Among Elderly
Medicare is fairly comprehensive, but it doesn’t cover everything — and the basic coverage doesn’t cap out-of-pocket expense if you become seriously ill or need nursing care. (Mon, 08 Nov 2010 07:28:42 -0800)

Auckland property developer faces bankruptcy
Property developer Patrick Fontein's bankruptcy hinges on legal argument around $3.5 million owing to unsecured creditors of his Kensington Park subdivision at Orewa, north of Auckland. (Mon, 08 Nov 2010 08:14:19 -0800)


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