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Home > Bankruptcy News

Bankruptcy News Mar 2014

McCready wants out of bankruptcy early
Serial litigant Graham McCready wants out of bankruptcy early so he can rekindle his relationship with his estranged daughters. (Sun, 02 Mar 2014 08:06:30 -0800)

Sorenson Communications files for bankruptcy
Sorenson Communications Inc filed for Chapter 11 bankruptcy protection late on Sunday, a court filing showed, as declining revenue and mounting debt forced the company to consider restructuring. Sorenson, ... (Mon, 03 Mar 2014 00:18:32 -0800)

Napa bankruptcy filings dropped in 2013
The number of Napa County residents who filed for bankruptcy protection in 2013 fell to the lowest levels in five years, according to data recently released by the U.S. Bankruptcy Court in Santa Rosa. (Mon, 03 Mar 2014 14:31:00 -0800)

Court: Exempt funds protected in bankruptcy
The Supreme Court says a bankruptcy court may not go after property or funds that are legally exempt from creditors. The justices in a unanimous opinion ruled Tuesday in favor of a California man who declared ... (Tue, 04 Mar 2014 07:44:37 -0800)

American Airlines Bankruptcy Shaped by Eastern Air Lines Strike 25 Years Ago
The American Airlines bankruptcy case was shaped by the influence of labor, which learned some lessons from the March 4, 1989, Eastern Air Lines strike and subsequent bankruptcy (Tue, 04 Mar 2014 08:31:00 -0800)

Area bankruptcy filings fell 20 percent in February
Bankruptcy filings in the region continued to slide in February. The number of new cases filed in the Buffalo-Rochester market declined 20.4 percent in February from a year ago, to 335, according to the U.S. Bankruptcy Court. That was the smallest figure for any month since February 2006. (Tue, 04 Mar 2014 15:20:25 -0800)

Uranium supplier USEC files for bankruptcy
USEC Inc filed for bankruptcy after struggling with weak prices for the enriched uranium it supplies to nuclear power plants and difficulties in financing a major project. Shares of the company, which said in December it expected to file for bankruptcy protection, fell as much as 46 percent to $3.01 in premarket trading on Wednesday. Prices for low-enriched uranium have plummeted more than 30 ... (Wed, 05 Mar 2014 05:13:29 -0800)

Uranium Producer USEC Files for Bankruptcy Protection
USEC Inc. (USU) , a producer of enriched uranium for nuclear power plants that was sold by the U.S. government in 1998, sought bankruptcy protection with a plan to hand control to noteholders after an oversupply of the fuel hurt its business. (Wed, 05 Mar 2014 09:14:21 -0800)

Detroit bankruptcy judge criticizes liability insurance plan
U.S. Bankruptcy Judge Steven Rhodes had harsh words Wednesday for attorneys fighting for a lofty insurance policy to protect members of a retiree committee from legal backlash associated with Detroit's Chapter 9 case. (Wed, 05 Mar 2014 14:06:38 -0800)

Detroit bankruptcy judge criticizes liability insurance plan
U.S. Bankruptcy Judge Steven Rhodes had harsh words Wednesday for attorneys fighting for a lofty insurance policy to protect members of a retiree committee from legal backlash associated with Detroit's Chapter 9 case. (Wed, 05 Mar 2014 14:51:50 -0800)

HealthBridge Centers To Emerge From Bankruptcy
Get Business Mobile Text Alerts Having succeeded in convincing a bankruptcy judge that, to survive, it needed to make major cuts to 600 workers' compensation, the parent company of five unionized nursing homes around Connecticut announced Wednesday it will emerge from bankruptcy by the end of the week.         (Wed, 05 Mar 2014 16:31:52 -0800)

Date finally set for David Drumm’s bankruptcy trial
David Drumm’s long and often delayed bankruptcy trial is pencilled in to take place over five days in May. (Wed, 05 Mar 2014 16:48:58 -0800)

Hospital bankruptcy bill signed by governor
NATCHEZ, Miss. (AP) - Natchez Regional Medical Center now has state approval to pursue Chapter 9 bankruptcy. Gov. Phil Bryant has signed a bill passed by lawmakers that clears the way for the Adams County-owned hospital to go ahead with the appropriate court filings. The hospital filed ... (Thu, 06 Mar 2014 04:03:52 -0800)

Report: Sbarro Cooks up Fresh Bankruptcy Filing
Sbarro could reportedly file for bankruptcy as soon as this weekend as the struggling pizza chain races to secure financing for a streamlined restructuring. (Thu, 06 Mar 2014 07:02:21 -0800)

Scalia Throws Bankruptcy Surcharging To The Mat
Steven Law ("Debtor") ran on financially hard times and filed for Chapter 7 bankruptcy in 2004. The Court appointed Alfred Siegel as the Bankruptcy Trustee ("BKT") to oversee the case and to marshal the Debtor's assets. (Thu, 06 Mar 2014 20:33:53 -0800)

Mt. Gox files for Chapter 15 bankruptcy protection in US
The Bitcoin exchange has already filed for bankruptcy on its home turf of Japan. Meanwhile, hackers deface the blog of Mt. Gox's CEO, alleging fraud. Originally posted at News - Business Tech (Mon, 10 Mar 2014 06:44:41 -0700)

Sbarro Files Second Bankruptcy as Mall Traffic Dwindles
Sbarro LLC, the 800-restaurant U.S. pizza chain, filed for bankruptcy protection for the second time in three years as customer traffic slowed in the shopping-mall food courts where many of its stores do business. (Mon, 10 Mar 2014 06:47:22 -0700)

Mt.Gox files bankruptcy protection
Mt.Gox, received U.S. bankruptcy protection on Monday to temporarily halt U.S. legal action against the Japanese company. (Mon, 10 Mar 2014 08:30:33 -0700)

Pizza chain Sbarro files for bankruptcy
The Sbarro pizza restaurant chain filed for bankruptcy court protection Monday, less than three weeks after it was forced to close more than 40% of its U.S. locations. (Mon, 10 Mar 2014 08:37:49 -0700)

Sbarro pizza chain files for bankruptcy. Again.
Sbarro filed for bankruptcy protection on Monday for the second time in less than three years. The filing comes on the heels of Sbarro's announcement last month that it will close 155 of about 400 restaurants it owns in North America to cut costs. (Mon, 10 Mar 2014 08:43:10 -0700)

Sbarro files for bankruptcy
NEW YORK (Reuters) - The pizza chain Sbarro LLC has filed for bankruptcy protection for the second time in three years after struggling with too much debt and changing consumer tastes that led to fewer customers in the malls that house many of its restaurants. (Mon, 10 Mar 2014 09:15:32 -0700)

Sbarro files for second bankruptcy in three years
Ananth Baliga MELVILLE, N.Y., March 10 (UPI) -- Restaurant chain Sbarro filed for bankruptcy under Chapter 11, citing falling foot traffic in malls that has led to dwindling pizza sales. (Mon, 10 Mar 2014 09:26:13 -0700)

Mt. Gox files for U.S. bankruptcy to halt class action
(Reuters) - Mt. Gox, once the world's largest bitcoin exchange, filed for U.S. bankruptcy protection in Dallas late Sunday, a move that will temporarily halt U.S. legal action against the Japanese company.         (Mon, 10 Mar 2014 09:42:41 -0700)

Pizza chain Sbarro files for bankruptcy again
US pizza chain Sbarro Monday filed for bankruptcy protection for the second time in three years as a slowdown in mall traffic weighs on sales at its fast food restaurants. The restauranteur requested protection under Chapter 11 while it reorganizes its finances, according to a filing in US bankruptcy court in New York. The restructuring will affect about $140 million in Sbarro debt, according to ... (Mon, 10 Mar 2014 10:01:21 -0700)

Pizza chain Sbarro files for bankruptcy protection
By Jonathan Stempel NEW YORK (Reuters) - Pizza chain Sbarro LLC has filed for bankruptcy protection for the second time in three years after struggling with too much debt and fewer customers in malls that house many of its restaurants. Lenders would take control of the Melville, New York-based company under a "pre-packaged" Chapter 11 reorganization, which Sbarro on Monday said could allow it to ... (Mon, 10 Mar 2014 11:01:58 -0700)

Mt. Gox files for US bankruptcy
(Reuters) - Mt. Gox, once the world's largest bitcoin exchange, filed for U.S. bankruptcy protection in Dallas late Sunday, a move that will temporarily halt U.S. legal action against the Japanese company. (Mon, 10 Mar 2014 11:08:25 -0700)

Pizza chain Sbarro files for bankruptcy
Just over two weeks after it shut more than 40% of its U.S. stores, pizza chain Sbarro files for bankruptcy. (Mon, 10 Mar 2014 11:34:32 -0700)

Mt. Gox Shielded From U.S. Suits During Japan Bankruptcy
Mt. Gox Co., the Bitcoin exchange that filed for bankruptcy in Tokyo after millions of dollars' worth of virtual currency vanished from customer accounts, won a temporary halt to lawsuits it faces in the U.S. The Tokyo-based exchange filed for bankruptcy in Japan last month after losing Bitcoins worth about $473 million at the time. (Mon, 10 Mar 2014 14:16:49 -0700)

Mt. Gox files U.S. bankruptcy, opponents call it a ruse
* Objectors allege Mt. Gox's U.S. bankruptcy part of a fraud * Opponents said Karpeles recently moved millions of dollars of bitcoins * Case may revive criticisms of U.S. shell corporations March 10 (Reuters) - Mt. Gox, once the world's largest bitcoin exchange, received U.S. bankruptcy protection on Monday to temporarily halt U.S. legal action against the Japanese company by traders who allege ... (Mon, 10 Mar 2014 14:25:47 -0700)

Sbarro files for bankruptcy, again
Pizza chain Sbarro LLC has filed for bankruptcy protection for the second time in three years after struggling with too much debt and fewer customers in malls that house many of its restaurants. (Mon, 10 Mar 2014 14:32:19 -0700)

Japanese bitcoin exchange files US bankruptcy case
The collapse of Japan's Mt. Gox bitcoin exchange is spilling into U.S. bankruptcy court as the company scrambles for legal cover after losing digital currency valued at $473 million. (Mon, 10 Mar 2014 14:44:56 -0700)

Japanese bitcoin exchange files US bankruptcy case
The collapse of Japan's Mt. Gox bitcoin exchange is spilling into U.S. bankruptcy court as the company scrambles for legal cover after losing digital currency valued at $473 million. Mt. Gox's bankruptcy ... (Mon, 10 Mar 2014 14:44:56 -0700)

Sbarro files for bankruptcy protection again
NEW YORK (AP) — Sbarro has filed for Chapter 11 bankruptcy reorganization for the second time in just three years as the pizza chain struggles to turn its business around amid a drop in traffic at shopping mall food courts. (Mon, 10 Mar 2014 15:00:13 -0700)

Sbarro pizza chain files for second bankruptcy. It can do that?
Sbarro pizza chain's bankruptcy filing is its second in three years. There's no rule preventing Sbarro pizza from a second Chapter 11 filing, but it still doesn't bode well for the company's future.  (Tue, 11 Mar 2014 11:57:55 -0700)

Greenberg Glusker’s Bankruptcy Group Named Winner of M&A Advisor Turnaround Award
Greenberg Glusker today announced that its Bankruptcy, Reorganization and Capital Recovery practice has been chosen to receive a Turnaround Award by The M&A Advisor in the category of Sec. (Tue, 11 Mar 2014 12:05:00 -0700)

Power wholesaler Edison Mission clears bankruptcy
A federal bankruptcy judge in Chicago has given power wholesaler Edison Mission Energy the go-ahead to emerge from bankruptcy by selling most of its assets to NRG Energy Inc. for $2.6 billion. U.S. Bankruptcy ... (Tue, 11 Mar 2014 12:19:40 -0700)

USEC Bankruptcy Shakes Up Creditor Line
The Chapter 11 bankruptcy case of USEC, which processes uranium for power plants, is not strictly following the rule of who gets paid first. (Fri, 14 Mar 2014 10:18:24 -0700)

Sandwich chain Quiznos files for bankruptcy protection
(Reuters) - Sandwich chain Quiznos Corp filed for pre-packaged bankruptcy protection on Friday after struggling for years with high debt and rising competition. It listed liabilities of between $500 million and $1 billion in its bankruptcy petition. "Our business plan includes several key elements aimed at supporting our franchisees, including reducing food costs, implementing a franchise owner ... (Fri, 14 Mar 2014 10:52:55 -0700)

Quiznos files for bankruptcy
First, Sbarro. Now, Quiznos. Quiznos has filed for bankruptcy protection, five days after the Sbarro pizza chain did the same. Executives at the restaurant chain, known for its toasted sandwiches, agreed ... (Fri, 14 Mar 2014 11:11:00 -0700)

Jacoby & Meyers Creditors Seek Bankruptcy for Failed Firm
Jacoby & Meyers Bankruptcy LLP creditors with more than $1 million in claims moved to force the defunct law firm to liquidate in a bid to unravel the “largest consolidation of consumer law firms in U.S. history.” (Fri, 14 Mar 2014 12:29:02 -0700)

Quiznos Sandwich Chain Toasted, Files for Bankruptcy Protection
Sandwich chain Quiznos filed for bankruptcy protection on Friday, the second nationwide food outlet to do so this week.Struggling pizza chain Sbarro also filed for its second bankruptcy in three years on Monday.         (Fri, 14 Mar 2014 13:04:02 -0700)

Quiznos files for Chapter 11 bankruptcy protection
DENVER (AP) - Denver-based Quiznos has filed for Chapter 11 bankruptcy protection to reduce its debt by more than $400 million after the chain lost ground to competitors. (Fri, 14 Mar 2014 13:49:12 -0700)

Quiznos bankruptcy: Why only seven outlets affected
Quiznos bankruptcy: The fast-food chain only owns seven of more than 2,000 restaurants. The Quiznos bankruptcy comes just days after the pizza chain Sbarro also declared bankruptcy. (Sat, 15 Mar 2014 06:44:52 -0700)

Quiznos Follows Sbarro Into Bankruptcy Court
Quiznos Corp., the Denver-based toasted-sandwich chain, filed for bankruptcy days after pizzeria company Sbarro LLC sought protection from creditors, as competition among fast-food restaurants grows in a tight market. (Sat, 15 Mar 2014 12:44:11 -0700)

Ford Seeks Garlock Bankruptcy Information To Fight Its Own Asbestos Suits
Co. has filed a motion to unseal the records in the Garlock bankruptcy case, hoping to obtain evidence it needs to derail asbestos lawsuits against itself. (Mon, 17 Mar 2014 08:08:56 -0700)

Quiznos wins court approval to access bankruptcy financing
Quiznos won bankruptcy-court approval Monday to borrow $10 million from its lenders so the fast-food chain can continue operating and make payroll. (Mon, 17 Mar 2014 12:27:10 -0700)

Clock could run out for Westport developers
Bankruptcy court will consider extension Tuesday A U.S. bankruptcy court is scheduled to decide Tuesday whether to grant more time to developer Patrick Turner.         (Mon, 17 Mar 2014 16:34:10 -0700)

Creditors of Jacoby & Meyers Firm Looking to Push It Into Bankruptcy
The collapse of the Jacoby & Meyers Bankruptcy LLP law firm, which was formed in 2012 by two consumer law giants, has mobilized some unpaid creditors to push for their final payments. (Tue, 18 Mar 2014 06:35:47 -0700)

Fitch: EME's Bankruptcy Positive for Edison International
Bankruptcy court approval of the plan of reorganization moves Edison International closer to a final resolution of its exposure to Edison Mission Energy's insolvency and, in Fitch Ratings' opinion, represents a positive development for EIX's creditworthiness. (Tue, 18 Mar 2014 11:21:00 -0700)

Pension funds urge quick ruling on Detroit bankruptcy appeal
Federal judges should rush an appeal of the city's bankruptcy eligibility because thousands of retirees face poverty if Detroit is allowed to slash pensions, lawyers argued Tuesday. (Tue, 18 Mar 2014 15:49:18 -0700)

Creditors of Jacoby & Meyers Firm Looking to Push It Into Bankruptcy
The collapse of the Jacoby & Meyers Bankruptcy LLP law firm, which was formed in 2012 by two consumer law giants, has mobilized some unpaid creditors to push for their final payments. (Tue, 18 Mar 2014 19:05:48 -0700)

Ford Seeks Garlock Transcripts From January Trial: Bankruptcy
Ford Motor Co. (F) joined the U.S. Chamber of Commerce in seeking transcripts of a trial in which a bankruptcy judge ruled the “impropriety of some law firms” representing asbestos personal-injury plaintiffs led to “unfairly inflating recoveries against” Garlock Sealing Technologies LLC, a unit of EnPro Industries Inc. (NPO) (Tue, 18 Mar 2014 21:29:27 -0700)

Bankruptcy judge: Convince me
SACRAMENTO - Judge Christopher Klein, who is overseeing Stockton's bankruptcy case, said Wednesday morning he has been paying close attention to recent news reports that have suggested the nearby city of Vallejo could face a second insolvency. (Thu, 20 Mar 2014 00:40:21 -0700)

One Equity Partners’ MModal Files Bankruptcy After Buyout
MModal Inc., the biggest U.S. medical-transcription company, sought bankruptcy protection from creditors less than two years after being acquired in a leveraged buyout by JPMorgan Chase & Co. (JPM) ’s investment arm. (Thu, 20 Mar 2014 04:29:17 -0700)

New bankruptcy laws passed by MSPs
New bankruptcy laws passed by Holyrood will create a "financial health service for Scotland", according to the Scottish government. (Thu, 20 Mar 2014 10:50:32 -0700)

Mexican Homebuilder Geo Files for Bankruptcy After Bond Default
Corp. Geo SAB filed for bankruptcy, making it the first Mexican homebuilder to seek protection from creditors after the industry collapsed last year amid a shift in government subsidies. (Thu, 20 Mar 2014 18:14:15 -0700)

Mexico homebuilder Geo files for bankruptcy
* Geo says majority of creditors support bankruptcy plan * Plan will give bondholders 88 percent of company stock (Adds details on restructuring agreement) MEXICO CITY, March 20 (Reuters) - Troubled Mexican homebuilder Geo said on Thursday it has filed for bankruptcy after gaining the support of the majority of its creditors in a deal that will replace most of its debt with stock. Geo was once ... (Thu, 20 Mar 2014 21:25:50 -0700)

Judge Allows Discovery to Proceed in Dewey Bankruptcy
Bankruptcy attorneys representing two of the criminally charged former Dewey & LeBoeuf leaders lost a bid to stay discovery of ta rustee and a creditor's suit against their clients, as Southern District Bankruptcy Judge Martin Glenn made his intent clear Thursday. (Thu, 20 Mar 2014 22:55:46 -0700)

Bankruptcy cancels Westport auction for a second time
Friday's foreclosure auction of part of the Westport property included in developer Patrick Turner's ambitious, 42-acre waterfront plan was canceled for a second time.         (Fri, 21 Mar 2014 10:32:16 -0700)

Bankruptcy cancels Westport auction for a second time
Developer Patrick Turner got more time to find an investor for his ambitious Westport waterfront project after a creditor filed an involuntary bankruptcy petition Friday against a company that owns part of the property, blocking a scheduled foreclosure auction at the last minute.         (Fri, 21 Mar 2014 10:33:27 -0700)

Skadden to Pay $4.25 Million in Fletcher Bankruptcy Case
The trustee overseeing the bankruptcy of the investment firm once led by the flashy money manager Alphonse Fletcher Jr. has reached a $4.25 million settlement with the law firm Skadden, Arps, Slate, Meagher & Flom, which once represented Mr. Fletcher's firm. (Fri, 21 Mar 2014 13:03:16 -0700)

Bankruptcy prevents back-tax auction of W-B property
Owners of a Wilkes-Barre commercial property owe 172,291 in delinquent real estate taxes dating back to 2005, but Luzerne County's tax claim operator can't sell the place due to a pending bankruptcy. (Fri, 21 Mar 2014 22:12:51 -0700)

GM's bankruptcy drawn into defect inquiry
The interest in GM's bankruptcy filing may shed light on an inquiry into its recalls, The New York Times reports. (Sat, 22 Mar 2014 09:15:16 -0700)

U.S. eyes bankruptcy link in GM ignition defect probe: report
Federal authorities are investigating whether General Motors hid an ignition switch defect when it filed for bankruptcy in 2009, The New York Times reported on Saturday. The Justice Department's investigation of the automaker includes a probe of whether GM committed bankruptcy fraud by not disclosing the ignition problem, a person briefed on the inquiry told the Times on Friday, the paper said ... (Sat, 22 Mar 2014 09:33:44 -0700)

Pro se bankruptcy clinic has begun
The Pro Se Bankruptcy Assistance Clinic launched March 12 at the Bryan Simpson U.S. Courthouse on North Hogan Street in Rooms 4303 and 4403. (Mon, 24 Mar 2014 08:43:22 -0700)

Feds Probe GM Bankruptcy
Federal authorities are investigating if the pre-bankruptcy GM committed bankruptcy fraud by hiding the ignition switch defect to prevent liability claims. (Mon, 24 Mar 2014 10:20:05 -0700)

Gregory Canyon bankruptcy dismissed
Bankruptcy case involving company that wants to build a dump in North County dismissed (Mon, 24 Mar 2014 17:41:00 -0700)

GREGORY CANYON BANKRUPTCY PETITION DISMISSED
Bankruptcy proceedings involving the company behind the long-planned Gregory Canyon landfill have been dismissed because the company failed to retain an attorney or file any necessary paperwork in court. (Tue, 25 Mar 2014 01:01:00 -0700)

Blue Wave Seafoods saga ends in bankruptcy
The creditors of South Shore fish plant Blue Wave Seafoods, which filed for bankruptcy last year, have formally rejected a proposal to restart the company. (Tue, 25 Mar 2014 06:43:15 -0700)

Detroit bankruptcy judge seeks more details on proposed $120M loan
The judge overseeing Detroit's historic bankruptcy case is asking the city to provide more specifics on the terms and planned expenditures of a $120 million loan to improve city services. (Tue, 25 Mar 2014 09:23:00 -0700)

Detroit bankruptcy judge seeks more details on proposed $120M loan
The judge overseeing Detroit's historic bankruptcy case is asking the city to provide more specifics on the terms and planned expenditures of a $120 million loan to improve city services. (Tue, 25 Mar 2014 10:26:46 -0700)

Detroit bankruptcy judge seeks more details on proposed $120M loan
The judge overseeing Detroit's historic bankruptcy case is asking the city to provide more specifics on the terms and planned expenditures of a $120 million loan to improve city services. (Tue, 25 Mar 2014 10:39:10 -0700)

Detroit bankruptcy judge seeks more details on proposed $120M loan
The judge overseeing Detroit's historic bankruptcy case is asking the city to provide more specifics on the terms and planned expenditures of a $120 million loan to improve city services. (Tue, 25 Mar 2014 11:38:15 -0700)

Judge to decide whether to reopen bids on Sunland
A federal bankruptcy judge on Tuesday ordered a new auction for an eastern New Mexico peanut butter plant involved in a 2012 salmonella outbreak. The trustee overseeing the liquidation of the now defunct ... (Tue, 25 Mar 2014 13:03:58 -0700)

Bankruptcy filings up slightly last year
In 2013, there were 237 bankruptcies filed from within Cochise County, up 1.3 percent from 2012. The modest increase follows a 27.8 percent decline in filings the year prior. Cochise County bankruptci (Tue, 25 Mar 2014 18:10:45 -0700)

Can bankruptcy filing stop RV repossession?
Dear Bankruptcy Adviser, Can the lender repossess our RV and leave us on the street? Or can we file a Chapter 7 bankruptcy claiming this is our home and keep the RV? We are on fixed income of Social Security only and unable to make the payments. (Wed, 26 Mar 2014 04:27:57 -0700)

Can I use my credit card after bankruptcy?
There is no specific amount of time you have to wait before you can start charging again after bankruptcy. In fact, it can even help rebuild your credit (Wed, 26 Mar 2014 05:00:00 -0700)

Bankruptcy judge Oks Spire deal
Judge's OK revives tower project A federal judge on Wednesday approved a bankruptcy settlement agreement for the developer behind the Chicago Spire. (Wed, 26 Mar 2014 09:35:19 -0700)

Detroit bankruptcy judge hiring his own expert on plan feasibility
Bloomberg - Detroit's bankruptcy judge is hiring his own independent expert witness to testify on whether the city's municipal debt-adjustment plan is feasible and based on reasonable assumptions. (Thu, 27 Mar 2014 04:13:20 -0700)

Natchez hospital bankruptcy petition filed
NATCHEZ, Miss. (AP) — Natchez Regional Medical Center has filed its Chapter 9 bankruptcy petition, and the hospital's trustees will meet with the Adams County Board of Supervisors. (Thu, 27 Mar 2014 05:31:04 -0700)

Feds Investigate GM For Bankruptcy Fraud, Ignore Own Behavior On Fannie And Freddie
The federal government is apparently investigating to see if during its 2009 bankruptcy GM hid knowledge of ignition problems which recently spurred an enormous recall. This is a rather surprising case for the federal government to pursue both because of the absence of an obvious remedy and due to the federal government itself having perpetrated more serious fraud than this in roughly the same ... (Thu, 27 Mar 2014 06:12:19 -0700)

Bankruptcy judge gives Detroit more time to decide on leases
The federal judge overseeing Detroit's municipal bankruptcy gave the city three more months to decide whether to abandon a dozen leases on commercial properties used by the Detroit Police Department and other city agencies. (Thu, 27 Mar 2014 09:59:05 -0700)

Brookstone on the brink of bankruptcy
Brookstone is preparing to file for bankruptcy as early as Sunday with a plan to be bought by another retailer. (Thu, 27 Mar 2014 10:00:39 -0700)

Court extends bankruptcy probe of Mt. Gox mess
The Tokyo District Court has granted a bankruptcy examiner six more weeks to assess the convoluted situation surrounding failed Bitcoin exchange Mt. Gox. Lawyer Nobuaki Kobayashi has until May 9 to submit his report to the court, according to the latest notice on the Mt. Gox website. The original deadline for the report was Friday, four weeks after Mt. Gox filed for bankruptcy protection at the ... (Fri, 28 Mar 2014 04:26:47 -0700)

3 who bounced back from bankruptcy to millionaires
Bouncing back after a bankruptcy may not be easy, but it can be done. The most prosperous of the rebounders analyze their past shortcomings, chart a better route, then march full force into the future (Fri, 28 Mar 2014 05:00:00 -0700)

What new bankruptcy numbers mean for the region
Bankruptcy filings for Northwest Indiana were down for the third year in a row in 2013, but that trend could end this year. According to numbers from the U.S. Bankruptcy Court, the Hammond district saw a total of 4,487 filings last year, down 264 from 2012. Most of the decrease came in Chapter 13, or reorganization, which saw a drop from 2,159 filings in 2012 to 1,953 in 2013. The most recent ... (Fri, 28 Mar 2014 08:55:07 -0700)

Energy Future Nearing Bankruptcy as Creditors Said to Align
Energy Future Holdings Corp., the power producer taken private in the biggest-ever leveraged buyout, moved a step closer to a bankruptcy plan after a key creditor neared a reorganization agreement, according to two people with knowledge of the talks. Fidelity Investments, which holds some of Energy Future's $45.6 billion of debt, is hashing out terms for the plan, which is being discussed by the ... (Sat, 29 Mar 2014 09:56:11 -0700)

Detroit blasts bankruptcy creditors' request to delay debt-cutting plan
The city today accused one of its most aggressive creditors of deploying a 'scorched earth litigation strategy' to try to delay Detroit's attempts to exit bankruptcy. (Mon, 31 Mar 2014 09:23:47 -0700)

Detroit blasts bankruptcy creditors' request to delay debt-cutting plan
The city today accused one of its most aggressive creditors of deploying a 'scorched earth litigation strategy' to try to delay Detroit's attempts to exit bankruptcy. (Mon, 31 Mar 2014 09:51:38 -0700)

Energy Future Extends Annual Report Deadline as Bankruptcy Nears
Energy Future Holdings Corp., the power producer taken private in the largest-ever leveraged buyout, extended the deadline to file its annual report, delaying when it will enter bankruptcy. (Mon, 31 Mar 2014 14:32:44 -0700)

Detroit revised bankruptcy exit plan envisions bigger pain for some
Some of Detroit's retirees and bondholders would fare a little worse under a revised plan the city filed in U.S. Bankruptcy Court on Monday to deal with its $18 billion of debt and other obligations. Investors who bought Detroit bonds that the city has deemed to be unsecured would stand to recover only 15 percent of their investment, down from 20 percent in the initial plan Detroit filed in ... (Mon, 31 Mar 2014 18:25:17 -0700)

Detroit files updated bankruptcy adjustment plan
DETROIT (AP) — Detroit's updated bankruptcy plan was filed in federal court on Monday, revealing new details on how the city plans to restructure its debt and provide public services during the largest municipal bankruptcy in U.S. history. (Mon, 31 Mar 2014 18:40:07 -0700)


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