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Home > Bankruptcy News

Bankruptcy News Feb 2014

Diocese bankruptcy: Church sunk by $15 million sex-abuse settlement
Diocese bankruptcy: The Roman Catholic Diocese of Helena, Montana, filed for bankruptcy protection Friday. Court documents show the diocese has assets between $1 million and $10 million, and estimated liabilities between $10 million and $50 million. (Sat, 01 Feb 2014 13:39:05 -0800)

Bankruptcy from 20 years ago is back to haunt us
Bankruptcy means we cannot port our existing mortgage and if we try it will cost us £5,000 We are buying a house and have been refused permission to port our existing mortgage and add a further loan because my wife was declared bankrupt in 1993 after a colleague defrauded her company. She was discharged in 1995. It seems our broker had not declared the bankruptcy when we took out the mortgage ... (Sun, 02 Feb 2014 04:48:05 -0800)

Kerry Katona 'Facing Bankruptcy For The Third Time'
Kerry Katona is facing bankruptcy for the third time, according to reports. The 33-year-old - who is pregnant with her fifth child - reportedly split with her manager over money and now friends say she is struggling to pay the £5,000-a-month rent on the six-bedroom Oxfordshire mansion she shares with her fiancé George Kay. Kerry Katona A friend of the Atomic Kitten star told The Sun: “She lives ... (Sun, 02 Feb 2014 09:13:26 -0800)

DealBook: Detroit Turns Bankruptcy Into Challenge of Banks
Financial institutions that helped raise money for Detroit’s pension system are dismayed now to see themselves portrayed as shady characters in the city’s lawsuit.         (Sun, 02 Feb 2014 18:57:49 -0800)

Tuscany International Drilling files for bankruptcy
Tuscany International Drilling Inc filed for chapter 11 bankruptcy protection late on Sunday, a court filing showed, as liquidity constraints pressed the Canadian contract driller to cut its debt load and explore strategic alternatives. Tuscany said that a "lack of viable financing options and rapidly dwindling liquidity" pushed it to decide in favor of a chapter 11 process. Tuscany received a ... (Sun, 02 Feb 2014 20:23:22 -0800)

Survey of Mich. local leaders: Detroit bankruptcy right, but don't cut pensions
Most local government leaders across Michigan say Detroit was right to file for bankruptcy, but more than half said retiree pensions should not be cut to balance the books in the city or elsewhere, according to a poll released Monday. (Mon, 03 Feb 2014 07:36:26 -0800)

Detroit asks bankruptcy judge to disband creditor committee
The city of Detroit wants a U.S. bankruptcy judge to disband a committee appointed to represent unsecured creditors, saying it could disrupt mediation talks. (Mon, 03 Feb 2014 10:06:12 -0800)

Bankruptcy: Cengage, Creditors Hammer Out Consensual Reorganization Plan
Cengage Learning has reached agreement with its major stakeholders on an amended reorganization plan, the company announced this morning. (Mon, 03 Feb 2014 10:17:14 -0800)

Detroit asks bankruptcy judge to disband creditor committee
The city of Detroit wants a U.S. bankruptcy judge to disband a committee appointed to represent unsecured creditors, saying it could disrupt mediation talks. (Mon, 03 Feb 2014 11:58:35 -0800)

U.S. Bankruptcy Court Approves Permanent Rejection of Expired Collective Bargaining Agreements for five Connecticut ...
The U.S. Bankruptcy Court for the District of New Jersey today granted approval under 11 U.S.C. Section 1113 for five Connecticut HealthBridge managed health care centers (Cente (Mon, 03 Feb 2014 12:24:00 -0800)

Detroit Turns Bankruptcy Into Challenge of Banks
Financial institutions that helped raise money for Detroit’s pension system are dismayed now to see themselves portrayed as shady characters in the city’s lawsuit. (Mon, 03 Feb 2014 18:10:43 -0800)

LightSquared gets court approval on $33 million bankruptcy loan
A bankruptcy judge on Tuesday approved a $33 million loan from a group that includes Dish Network Corp Chairman Charles Ergen, to keep wireless venture LightSquared afloat as it tries to hash out a bankruptcy exit plan. The deal, unveiled on Monday, was green-lighted by Judge Shelley Chapman at a hearing in U.S. Bankruptcy Court in Manhattan. LightSquared's equity owner, Phil Falcone's Harbinger ... (Tue, 04 Feb 2014 13:04:09 -0800)

Judge places Comcast SportsNet Houston in bankruptcy
A federal bankruptcy judge Tuesday placed the parent company of Comcast SportsNet Houston under Chapter 11 bankruptcy protection, clearing the way for the start of what could be a contentious, complicated path to make the troubled regional sports network a financially profitable concern. U.S. Bankruptcy Judge Marvin Isgur’s order came at the conclusion of a day-long hearing at which attorneys ... (Tue, 04 Feb 2014 15:24:20 -0800)

Detroit's bankruptcy tab at $13.7 mln and growing
Detroit's price tag for lawyers, consultants and other professionals hit $13.7 million in the first 75 days of its historic bankruptcy, according to a report filed late Tuesday by a court-appointed fee examiner. The tab for professional services covers the period beginning with Detroit's July 18 bankruptcy filing until the end of September and likely has mushroomed since then, as lawyers spent ... (Tue, 04 Feb 2014 21:15:39 -0800)

Detroit's bankruptcy tab at $13.7 million and growing
(Reuters) - Detroit's price tag for lawyers, consultants and other professionals hit $13.7 million in the first 75 days of its historic bankruptcy, according to a report filed late Tuesday by a court-appointed fee examiner. The tab for professional services covers the period beginning with Detroit's July 18 bankruptcy filing until the end of September and likely has mushroomed since then, as ... (Tue, 04 Feb 2014 21:19:58 -0800)

Detroit's bankruptcy fees near $14 million - so far
Detroit owes nearly $14 million to lawyers and consultants for work during the first three months of its bankruptcy proceedings. A new report shows that the city has incurred fees of $13.3 million from ... (Wed, 05 Feb 2014 09:47:00 -0800)

Detroit's bankruptcy fees near $14 million, and counting
Detroit owes nearly $14 million to lawyers and consultants for work during the first three months of its bankruptcy proceedings. (Wed, 05 Feb 2014 09:56:09 -0800)

Skadden bankruptcy guru Butler moves to liquidation shop
Jack Butler, a prominent bankruptcy attorney who played a key role in American Airlines' merger with U.S. Airways Group, is leaving law firm Skadden Arps Slate Meagher & Flom to join liquidation firm Hilco Global. Butler will join Hilco as an executive vice president beginning on May 1, Hilco said in an internal memo it released on Wednesday. Butler, a veteran bankruptcy attorney who helped ... (Wed, 05 Feb 2014 13:24:50 -0800)

Skadden bankruptcy guru Butler joins financial firm
Jack Butler, a prominent bankruptcy attorney who played an instrumental role in American Airlines' merger with U.S. Airways Group, is leaving law firm Skadden Arps Slate Meagher & Flom to become an executive at Hilco Global, a financial services company with a broad range of operations. Butler, for decades a fixture in some of the most contentious bankruptcy negotiations, will join Hilco as an ... (Wed, 05 Feb 2014 18:36:38 -0800)

How I Went From a Six-Figure Salary to Bankruptcy & Back
How a white-collar worker bounced back from bankruptcy. Plus: the challenges his low credit scores still present. (Fri, 07 Feb 2014 03:30:16 -0800)

Health Insurers Seek To Pry Open Asbestos-Bankruptcy Trusts
Insurance companies have joined the list of parties that want to pry open the records of secretive bankruptcy trusts that plaintiff lawyers set up to pay asbestos-related claims. (Fri, 07 Feb 2014 07:37:17 -0800)

Diocese bankruptcy case mediator named
SACRAMENTO - A retired bankruptcy judge from Reno has been appointed mediator in the Chapter 11 reorganization case of the Catholic Diocese of Stockton. (Sat, 08 Feb 2014 00:33:44 -0800)

Bankruptcy Partner Craig Wolfe Joins Sheppard Mullin New York
Craig A. Wolfe has joined Sheppard, Mullin, Richter & Hampton LLP as a partner in the firm's Finance and Bankruptcy practice group, based in the firm's New York office. Wolfe joins from Kelley Drye & Warren.... (Mon, 10 Feb 2014 07:30:00 -0800)

Attorney: Detroit to file bankruptcy debt-cutting plan next week
One of Detroit's lead bankruptcy attorneys said today the city plans to file its debt-cutting reorganization next week. (Mon, 10 Feb 2014 09:36:46 -0800)

Attorney: Detroit to file bankruptcy debt-cutting plan next week
One of Detroit's lead bankruptcy attorneys said today the city plans to file its debt-cutting reorganization next week. (Mon, 10 Feb 2014 11:07:57 -0800)

Detroit redefined in bankruptcy talks
As mediation talks move into high gear in the largest municipal bankruptcy in American history, traditional assumptions of what constitutes Detroit are being challenged in ways this city hasn't seen in more than two generations. (Mon, 10 Feb 2014 23:12:16 -0800)

Bankruptcy cleared up, Vince Young focuses on NFL comeback
Vince Young still believes he can make it in the NFL. Young just needs an NFL team to share his sentiments. The former NFL quarterback recently made headlines after filing for bankruptcy. Young obtained a $1.8 million loan during from … Continue reading → (Tue, 11 Feb 2014 13:26:02 -0800)

Edison Mission Bankruptcy Reorganization Opposed by SEC
Edison Mission Energy’s plan to emerge from bankruptcy shouldn’t be approved because its corporate shell could be used in violation of federal law, the Securities and Exchange Commission said. (Tue, 11 Feb 2014 14:35:11 -0800)

Judge gives attorneys clearance to reoragnize CSN Houston
A federal bankruptcy judge refused Tuesday to delay proceedings in the Comcast SportsNet Houston case, clearing the way for attorneys to proceed with efforts to reorganize the bankrupt regional sports network while the Astros try to get the Chapter 11 order overturned. U.S. Bankruptcy Judge Marvin Isgur said he did not believe the Astros would succeed in their appeal and that it is in the public ... (Tue, 11 Feb 2014 18:13:28 -0800)

Houston Astros Denied Halt to Network Bankruptcy on Appeal
Major League Baseball’s Houston Astros lost a bid to halt the restructuring of the network that televises its games during an appeal of a judge’s ruling that Comcast Corp. (CMCSA) was allowed to force the broadcasting joint venture into bankruptcy. (Tue, 11 Feb 2014 21:27:49 -0800)

Back off Chapter 13 bankruptcy, keep cars?
Dear Bankruptcy Adviser, We filed Chapter 13 with two vehicles included. We have now decided we want to give up the house we are buying and find a cheaper home to rent. How can we walk away from this house and still keep our vehicles? (Wed, 12 Feb 2014 03:43:03 -0800)

Judge gives attorneys clearance to reorganize CSN Houston
A federal bankruptcy judge refused Tuesday to delay proceedings in the Comcast SportsNet Houston case, clearing the way for attorneys to proceed with efforts to reorganize the bankrupt regional sports network while the Astros try to get the Chapter 11 order overturned. U.S. Bankruptcy Judge Marvin Isgur said he did not believe the Astros would succeed in their appeal and that it is in the public ... (Wed, 12 Feb 2014 03:57:38 -0800)

Drake Bell, Nickelodeon Star, Files for Bankruptcy: Report
Nickelodeon star Drake Bell has reportedly filed for bankruptcy, claiming he's $581,000 in debt. Credit: Tom Briglia/FilmMagic (Wed, 12 Feb 2014 09:01:59 -0800)

Gates-led power-unit bankruptcy may revive Texas electric debate
* Optim cites depressed power prices for bankruptcy filing HOUSTON, Feb 12 (Reuters) - As the debate over the future of Texas's $35 billion electricity market enters a third year with no end in sight, one independent power producer decided not to wait for an outcome, filing for bankruptcy on Wednesday, citing depressed market conditions. Optim Energy LLC, a power generator owned by Bill Gates ... (Wed, 12 Feb 2014 20:37:48 -0800)

Wis. archdiocese: Bankruptcy has so far cost $19M
MILWAUKEE (AP) — The Archdiocese of Milwaukee says its bankruptcy case has cost more than $19 million so far. (Thu, 13 Feb 2014 01:58:33 -0800)

Wis. archdiocese: Bankruptcy has cost $19M so far
MILWAUKEE (AP) — Bankruptcy has cost the Archdiocese of Milwaukee more than $19 million in legal fees and other expenses so far, and rejection of its recovery plan could force it to pay out $13 million more, its attorneys said in newly filed court documents. (Thu, 13 Feb 2014 02:01:21 -0800)

Milwaukee archdiocese announces bankruptcy reorganization that creates $7 million debt
When Milwaukee Archbishop Jerome Listecki announced a bankruptcy reorganization plan Monday morning, he optimistically said "we are turning a corner" on the darkest chapter in the archdiocese's history. (Thu, 13 Feb 2014 08:26:41 -0800)

Wis. archdiocese: Bankruptcy has so far cost $12M
MILWAUKEE (AP) — The Archdiocese of Milwaukee says its bankruptcy case has cost more than $12.5 million so far. (Thu, 13 Feb 2014 09:26:41 -0800)

Wis. archdiocese: Bankruptcy has cost $12M so far
MILWAUKEE (AP) — Bankruptcy has cost the Archdiocese of Milwaukee more than $12 million in legal fees and other expenses so far, and rejection of its recovery plan could force it to pay out $13 million more, its attorneys said in newly filed court documents. (Thu, 13 Feb 2014 09:42:38 -0800)

Bankruptcy may prove beneficial to Duggan
Mike Duggan probably would never admit it, but Emergency Manager Kevyn Orr and his bankruptcy case might be the best thing to happen to the new mayor. (Fri, 14 Feb 2014 00:31:54 -0800)

Detroit retirees, banks fight for assets
Detroit's historic bankruptcy has evolved into a populist fight between retirees and banks, as the city prepares to unveil a critical plan next week to shed some of its $18 billion in debts. Each side is fighting for its share of Detroit's limited resources, be it tax revenue or city assets. (Fri, 14 Feb 2014 06:26:23 -0800)

Bakery's bankruptcy has Miss Hulling's cakes in limbo
Theodoro Baking Co., which produces Miss Hulling's cakes under a licensing agreement, filed for bankruptcy in August. (Fri, 14 Feb 2014 10:20:00 -0800)

China's Wanxiang wins U.S. bankruptcy auction for Fisker Automotive
Wanxiang Group, China's largest auto parts company, won a bankruptcy auction for the assets of Fisker Automotive, the defunct manufacturer of the Karma plug-in hybrid sports car, Fisker said on Friday. Wanxiang's bid has been valued at about $149.2 million, representing $126.2 million of cash, $8 million of assumed liabilities, and a contribution of common equity in an affiliate designated by ... (Fri, 14 Feb 2014 20:28:26 -0800)

LightSquared bankruptcy exit plan puts Ergen in uncertain position
Bankrupt wireless company LightSquared Inc has proposed a new restructuring plan that would remove certain regulatory hurdles to its exit from Chapter 11 while potentially subordinating the bankruptcy claim held by its largest creditor, an entity run by Dish Network Corp Chairman Charles Ergen. In court papers filed late on Friday night, LightSquared outlined a restructuring plan fueled by $2.35 ... (Sat, 15 Feb 2014 14:44:31 -0800)

Bankruptcy should be renamed 'debt adjustment', recommends EU official
EU report claims calling someone bankrupt is too stigmatising and recommends the phrase should no longer be used         (Sun, 16 Feb 2014 02:50:57 -0800)

Bankruptcy battle goes on
Authorities are continuing their fight with ex-rich-lister Jamie Peters after failing to convince a High Court judge that the former Auckland property developer should stay bankrupt for another three years.Peters, who was declared... (Sun, 16 Feb 2014 09:06:15 -0800)

Bankruptcy may prove beneficial to Duggan
Mike Duggan probably would never admit it, but Emergency Manager Kevyn Orr and his bankruptcy case might be the best thing to happen to the new mayor. (Mon, 17 Feb 2014 00:02:52 -0800)

Detroit Bankruptcy Fight Watershed for Muni Market
The city of Detroit's effort to declare some of its general obligation bonds as unsecured debt will be challenged in bankruptcy court Wednesday in what could be a precedent-setting turn in the largest-ever municipal bankruptcy in U.S. history. (Mon, 17 Feb 2014 05:35:06 -0800)

Detroit bankruptcy bond fight a watershed for municipal market
The city of Detroit's effort to declare some of its general obligation bonds as unsecured debt will be challenged in bankruptcy court Wednesday in what could be a precedent-setting turn in the largest-ever municipal bankruptcy in U.S. history. The issue in front of federal bankruptcy Judge Steven Rhodes is whether a pledge of Detroit tax revenue to pay off the voter-approved bond issues is a ... (Mon, 17 Feb 2014 06:17:01 -0800)

How Detroit can build from bankruptcy
Detroit's bankruptcy is inflicting much pain on the city. But this pain won't be in vain if the city uses it to make structural changes that put its fiscal house permanently in order. (Mon, 17 Feb 2014 22:48:58 -0800)

Close credit card before bankruptcy filing?
Dear Bankruptcy Adviser, I would like to consider options, but before I really organize/prepare myself emotionally for the jolt of bankruptcy, I have a question. I would like to know if I close a credit card account with a balance voluntarily, can it be included later in a bankruptcy filing? (Tue, 18 Feb 2014 03:43:28 -0800)

Detroit faces bond challenge in bankruptcy plan
The city of Detroit's effort to declare some of its general obligation bonds as unsecured debt will be challenged in bankruptcy court Wednesday. (Tue, 18 Feb 2014 04:54:55 -0800)

Bankruptcy document: Most Milwaukee abuse claims will receive no money
The Milwaukee archdiocese will walk away from bankruptcy relatively unscathed if its proposed reorganization plan is accepted by Judge Susan V. Kelley. (Tue, 18 Feb 2014 05:41:42 -0800)

Detroit bankruptcy to enter critical phase
Detroit this week is expected to reveal its plan to settle with its creditors and emerge from bankruptcy. (Tue, 18 Feb 2014 13:18:54 -0800)

Detroit to Lay Out Bankruptcy Blueprint
The historic Detroit bankruptcy case moves into a crucial and contentious phase with the filing expected this week of the city's so-called "plan of adjustment." That is the city's plan to settle with its creditors and emerge from America's largest-ever municipal bankruptcy. (Tue, 18 Feb 2014 13:54:50 -0800)

Detroit readying blueprint for bankruptcy exit
DETROIT (AP) — Detroit's creditors and residents this week are expected to get their first official glimpse of the road out of bankruptcy, although fights and tinkering over many of its most contentious elements likely will continue. (Tue, 18 Feb 2014 14:43:04 -0800)

CSN Houston bankruptcy case turns to day-to-day matters, including employees’ paychecks
After weeks of contentious rhetoric in the Comcast SportsNet Houston bankruptcy case, conversation Tuesday turned to the nuts and bolts of keeping the network on the air – as in paying employees and other matters – while the bankruptcy case is on appeal. Attorneys Charles Beckham and Henry Flores with the Houston office of the Haynes and Boone law firm, who are representing the network in the ... (Tue, 18 Feb 2014 18:12:46 -0800)

Detroit bankruptcy judge to hear crucial bond dispute
For Detroit, the long and winding road out of the largest-ever U.S. municipal bankruptcy may get a bit straighter on Wednesday. First, U.S. Bankruptcy Judge Steven Rhodes will consider litigation over whether Detroit's pledge of tax revenue to pay off voter-approved bonds is a binding obligation or merely a promise that the broke city cannot keep. The outcome of the dispute before Rhodes could ... (Wed, 19 Feb 2014 04:00:00 -0800)

Edison Mission Energy to End Bankruptcy Free of Liability
Edison Mission Energy will emerge from bankruptcy liability-free under a settlement that gives its parent, Edison International, a net benefit of $200 million, Chief Executive Officer Ted Craver of Edison International said. (Wed, 19 Feb 2014 07:59:16 -0800)

Live tweets: Detroit bankruptcy court hearing motion on lawsuits over bondholder payments
The city's bankruptcy attorneys want a judge to dismiss legal action taken by insurance companies that are demanding Detroit resume paying principal and interest on general obligation bonds with voter-approved taxes. (Wed, 19 Feb 2014 10:22:10 -0800)

Judge questions need for new team of lawyers in Detroit bankruptcy case
The city's bankruptcy judge on Wednesday questioned the need for a new team of high-cost attorneys to get involved in the city's seven-month-old Chapter 9 case. (Wed, 19 Feb 2014 10:43:22 -0800)

Lehman Bankruptcy Judge Peck Joins Firm Morrison Foerster
The judge who presided over the bankruptcy of Lehman Brothers Holdings Inc., the largest in U.S. history, will join law firm Morrison Foerster LLP next month to help lead its restructuring and insolvency group. (Wed, 19 Feb 2014 11:29:51 -0800)

Judge questions need for new team of lawyers in Detroit bankruptcy case
The city's bankruptcy judge today questioned the need for a new team of high-cost attorneys to get involved in the city's seven-month-old Chapter 9 case. (Wed, 19 Feb 2014 14:26:46 -0800)

Lengthy bankruptcy looking more likely for Energy Future
Efforts to negotiate a consensual restructuring at Energy Future Holdings, the embattled Texas utility, are looking bleaker, and a long bankruptcy is becoming the most likely option, according to several people close to the matter. The company, struggling under about $40 billion in debt, had hoped to have the framework of a restructuring deal in place before filing for bankruptcy, which would ... (Thu, 20 Feb 2014 16:32:06 -0800)

Detroit pension funds can file direct appeal of bankruptcy
The city's pension funds and others were granted permission Friday to file a direct appeal of the city's bankruptcy. The U.S. 6th Circuit Court of Appeals granted permission ahead of the city's filing of a plan to shed debt and emerge from bankruptcy court. (Fri, 21 Feb 2014 08:13:49 -0800)

Detroit Files Plan to Resolve $18 Billion Bankruptcy
Detroit filed a proposal to reduce its $18 billion debt load and exit court supervision, starting what may be the most contentious phase of the biggest-ever U.S. municipal bankruptcy as pension plans face the possibility of losing about half of what they’re owed. (Fri, 21 Feb 2014 08:19:42 -0800)

Detroit bankruptcy plan cuts benefits up to 34%
Detroit bankruptcy plan lays out 34% reduction in pension benefits for city workers, 10% cut for police and fire, as well as reductions in retiree health care, payments to banks holding debt. (Fri, 21 Feb 2014 09:14:01 -0800)

Detroit bankruptcy plan proposes slashing pension benefits up to 34%
Detroit city employees and retirees face losing up to 34% of their promised pension benefits under the city's bankruptcy plan filed in court Friday. (Fri, 21 Feb 2014 09:56:11 -0800)

Detroit's bankruptcy follows decades of decay
DETROIT (AP) — The city of Detroit, which for years paid its bills with borrowed money, is the largest city in U.S. history under bankruptcy protection. Here's a look at how the city spiraled into financial ruin and why it's in so much trouble: (Fri, 21 Feb 2014 10:08:22 -0800)

Detroit files plan to fix debt, leave bankruptcy
DETROIT (AP) — Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens. (Fri, 21 Feb 2014 10:13:30 -0800)

Bankruptcy exit plan riles Detroit retirees
Many Detroit retirees are riled at the plan to cut city pensions of nearly 35% for general general retirees and 10% for police and fire members. (Fri, 21 Feb 2014 12:59:59 -0800)

City Of Detroit Files Bankruptcy Exit Plan
Detroit city attorneys filed a plan of adjustment with the bankruptcy court today to deal with the city's $18 billion in secured and unsecured debt. The plan proposes investing roughly $1.5 billion over ... (Fri, 21 Feb 2014 13:23:25 -0800)

Detroit bankruptcy: Creditors fare worse than city retirees in new proposal
Emergency management officials for Detroit took a key step in the city’s historic bankruptcy case by filing a 120-page plan, outlining a financial reorganization, in federal court Friday. In the plan, state emergency management officials propose slashing $18 billion in debt, while still maintaining vital emergency services and making investments in the embattled city. In a statement, Mr. Orr’s ... (Fri, 21 Feb 2014 14:37:02 -0800)

Detroit draw first full map for leaving bankruptcy
DETROIT (AP) — Detroit presented its first full road map for climbing out of bankruptcy Friday, outlining an elaborate plan to restructure $18 billion in debt, demolish thousands of blighted homes and invest in the broken-down infrastructure that has made the city a symbol of urban decay. (Fri, 21 Feb 2014 14:41:10 -0800)

Bankruptcy exit plan riles Detroit retirees
Many Detroit retirees are riled at the plan to cut city pensions of nearly 35% for general general retirees and 10% for police and fire members. (Fri, 21 Feb 2014 15:02:10 -0800)

Detroit draws first map to get out of bankruptcy
DETROIT (AP) — Detroit presented its first full road map for leaving bankruptcy Friday, outlining an elaborate plan to restructure $18 billion in debt, demolish thousands of blighted homes and invest in the broken-down infrastructure that has made the city a symbol of urban decay. (Fri, 21 Feb 2014 15:37:42 -0800)

Detroit's bankruptcy plan spares pensions from deepest cuts
Detroit's blueprint for dealing with $18 billion in debt and emerging from municipal bankruptcy requires cuts to worker pensions and even deeper cuts for bondholders, setting the stage for a new round of negotiations and court challenges. The potentially precedent-setting plan the city filed in U.S. Bankruptcy Court on Friday would cut retired worker's pensions by up to 30 percent while owners ... (Fri, 21 Feb 2014 17:58:55 -0800)

Detroit bankruptcy plan under heavy assault
The road back for Detroit seems to be getting longer. More than three months after its historic bankruptcy filing, city officials Friday offered up their proposed plan to pay bondholders, pensioners and other creditors holding its $18 billion debt substantially less then they're owed. (Fri, 21 Feb 2014 22:53:37 -0800)

Detroit bankruptcy plan includes deep pension cuts
The blueprint to manage Detroit's $18-billion debt asks current and retired city employees to bear the brunt of cost-cutting measures. Unions aren't happy. Detroit's plan to emerge from bankruptcy this year largely hinges on significant cuts to city workers' pensions and retiree health benefits — actions vehemently fought by public employee unions — as well as decreased payments to bondholders ... (Fri, 21 Feb 2014 23:20:17 -0800)

Why Consumers Could Benefit From Energy Future Holdings' Bankruptcy
This column has been updated to correct the divisions of Energy Future Holdings' companies that might result from a bankruptcy filing.  (Mon, 24 Feb 2014 08:17:09 -0800)

Why Consumers Could Benefit From Energy Future Holdings' Bankruptcy
This column has been updated to correct the divisions of Energy Future Holdings' companies that might result from a bankruptcy filing.  (Mon, 24 Feb 2014 08:20:02 -0800)

Judge sets June trial date for Detroit bankruptcy plan
The city's bankruptcy judge today set a June 16 trial date for Detroit to prove it can accomplish a plan to shed debt and end the municipal bankruptcy case. (Mon, 24 Feb 2014 11:22:03 -0800)

Ex-IRA man to 'overturn bankruptcy'
Former IRA man turned property developer vows to 'overturn bankruptcy' (Mon, 24 Feb 2014 23:11:14 -0800)

Only A Quarter (26%) Find Bankruptcy Shameful: 62% More Worried About Credit Rating
NEW YORK, Feb. 25, 2014 /PRNewswire-iReach/ --  According to a recent Omnibus Survey conducted by research company YouGov, 18% of Americans have either filed for bankruptcy or a member of their household has done so.  Nearly a quarter of Americans (23%) have either considered, or have a member of their household who has considered, filing for bankruptcy. One in four adults (25%) interviewed with ... (Tue, 25 Feb 2014 07:45:00 -0800)

Bankruptcy judge won't delay Detroit debt-cutting plan
The city's bankruptcy judge on Tuesday refused to delay the process of approving Detroit's debt-cutting plan, arguing the city would run out of cash if it takes too long. (Tue, 25 Feb 2014 09:07:45 -0800)

Bankruptcy judge won't delay Detroit debt-cutting plan
The city's bankruptcy judge on Tuesday refused to delay the process of approving Detroit's debt-cutting plan, arguing the city would run out of cash if it takes too long. (Tue, 25 Feb 2014 12:14:21 -0800)

Detroit bankruptcy judge sets next steps
The judge in the historic Detroit bankruptcy has laid out the next steps for city. (Tue, 25 Feb 2014 15:30:15 -0800)

Bankruptcy petition preparer gets sentenced to nearly 4 years in prison
— A bankruptcy petition preparer was ordered Tuesday to serve nearly four years in prison for criminal contempt in a case that brought U.S. Bankruptcy Judge Steven Rhodes to the witness stand. (Tue, 25 Feb 2014 18:15:14 -0800)

Bankruptcy: Charles Ergen's 'Deceit' Sabotaged LightSquared Reorganization, Company Says
Dish Networks founder Charles Ergen and his “helpers” used “the type of non-denial denials that the White House offered when confronted by the Watergate break-in” to mask the Dish board of directors’ knowledge and acquiescence in a scheme to fraudulently acquire $1 billion in LightSquared senior debt claims, lawyers for LightSquared wrote in a post-trial brief filed Monday night with the ... (Wed, 26 Feb 2014 08:01:08 -0800)

Detroit uses stick and carrot to sell bankruptcy plan
In his effort to keep Detroit on a fast track to end its historic bankruptcy, the city's emergency manager has cobbled together a plan to cajole or even threaten key creditors to accept cuts he laid out in federal court filings last week, or else face even deeper losses if they do not cooperate. Kevyn Orr has every incentive to keep the parties in line. If he wins broad agreement with creditors ... (Wed, 26 Feb 2014 13:45:52 -0800)

One-Quarter of Americans have Considered Filing for Bankruptcy
NEW YORK ( MainStreet ) — How tough have recent times really been? Financially difficult enough that nearly a quarter of American households (23%) have considered filing for bankruptcy. And 18% of households surveyed by YouGov have done so. (Thu, 27 Feb 2014 03:20:45 -0800)

Detroit uses stick and carrot to sell bankruptcy plan
In his effort to keep Detroit on a fast track to end its historic bankruptcy, the city's emergency manager has cobbled together a plan to cajole or even threaten key creditors to accept cuts he laid out in federal court filings last week, or else face even deeper losses if they do not cooperate. Kevyn Orr has every incentive to keep the parties in line. If he wins broad agreement with creditors ... (Thu, 27 Feb 2014 06:44:46 -0800)

Charges laid in Bankruptcy Fraud Investigation
Charges laid in Bankruptcy Fraud Investigation (Thu, 27 Feb 2014 07:00:00 -0800)

Mt. Gox files for bankruptcy, blames hackers for losses
Mt. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system. Wearing a suit instead of his customary T-shirt, Mt. Gox's French CEO Mark Karpeles bowed in contrition and apologised in Japanese at a news conference at the Tokyo ... (Fri, 28 Feb 2014 04:08:42 -0800)

Mt.Gox files for bankruptcy protection
Bitcoin exchange Mt.Gox has lost nearly all the virtual currency in its systems and filed for bankruptcy protection, lawyers tell a press conference. (Fri, 28 Feb 2014 05:25:47 -0800)

Mt. Gox Exchange Files for Bankruptcy in Japan After Losing Bitcoins
Mt. Gox, once the world's largest Bitcoin exchange, filed for bankruptcy in Japan, and said that 850,000 Bitcoins belonging to its customers and the firm were missing. "The company believes there is a high possibility that the Bitcoins were stolen," Mt. Gox said in a statement. (Fri, 28 Feb 2014 08:35:28 -0800)

Bitcoin Exchange Mt. Gox Files For Bankruptcy
NEW YORK (The Deal) -- Bitcoin exchange Mt. Gox has filed for bankruptcy in Tokyo after 850,000 bitcoins valued at about $475 million "disappeared." "There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble," CEO Mark Karpeles said at a Friday press conference in Japan. The company's website has shut down except for a Wednesday statement by ... (Fri, 28 Feb 2014 09:17:39 -0800)

Mt. Gox Bankruptcy Will Force Changes In Bitcoin
On Friday, Mt. Gox filed for bankruptcy protection. This announcement doesn't surprise anyone who has been following bitcoin since May 2013, when Mt. Gox started having issues processing withdrawals. Instead ... (Fri, 28 Feb 2014 10:26:59 -0800)

MtGox bankruptcy: Bitcoin insiders saw problems with the exchange for months
MtGox filed for bankruptcy Friday and said 850,000 bitcoins are missing as a result of a hack. Other exchanges have managed to withstand the same vulnerability, Bitcoin insiders say. (Fri, 28 Feb 2014 10:29:59 -0800)

Tokyo bitcoin exchange files for bankruptcy
The Mt. Gox bitcoin exchange in Tokyo filed for bankruptcy protection Friday and its chief executive said 850,000 bitcoins, worth several hundred million dollars, are unaccounted for. The exchange's CEO ... (Fri, 28 Feb 2014 10:56:15 -0800)

Tokyo bitcoin exchange files for bankruptcy
TOKYO (AP) — The Mt. Gox bitcoin exchange in Tokyo filed for bankruptcy protection Friday and its chief executive said 850,000 bitcoins, worth several hundred million dollars, are unaccounted for. (Fri, 28 Feb 2014 16:32:20 -0800)

Sbarro Said to Prepare Bankruptcy Filing as Mall Traffic Slows
Sbarro, the Italian restaurant chain that’s a fixture in mall food courts, is preparing a bankruptcy filing following a nine-month review of its operations, according to people familiar with the situation. (Fri, 28 Feb 2014 16:55:12 -0800)

Detroit creditors want more time to vet city's bankruptcy plan
Detroit faces a long legal fight over its valuable art collection and other key matters in its historic bankruptcy case that make it imperative to push back the start of a trial on the city's debt adjustment plan, a bond insurer argued on Friday. In a filing in U.S. Bankruptcy Court, Syncora Guarantee Inc warned that lawsuits will be filed over the Detroit Institute of Arts' collection, which ... (Fri, 28 Feb 2014 18:21:41 -0800)


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