Recent Updates
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Star Tribune seeks to abandon union's contract
Bankruptcy 03/12/2009The Star Tribune of Minneapolis returns to bankruptcy court Thursday, a day after seeking permission to void one of its labor contracts to further cut costs. Lawyers for the newspaper, which filed for Chapter 11 bankruptcy protection in January, told...
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Spansion Files for Bankruptcy Protection in the U.S.
Bankruptcy 03/02/2009Spansion Inc., the U.S. maker of memory chips for mobile phones, filed for bankruptcy protection to restructure its debt after failing to make an interest payment on $266 million of bonds. The company listed debt of $2.4 billion and assets of $3.8 bi...
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Journal Register files for bankruptcy protection
Bankruptcy 02/23/2009The Journal Register Co. filed Saturday for bankruptcy protection from its creditors and said slumping advertising revenue and circulation are to blame. In the Chapter 11 filing in U.S. Bankruptcy Court in Manhattan, Journal Register proposed a restr...
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Delphi seeks to end health benefits for retirees
Bankruptcy 02/06/2009Troubled auto parts supplier Delphi Corp. has asked a bankruptcy judge to allow it to cancel health care and life insurance benefits for current and future salaried retirees, citing the steep downturn in the overall auto industry in recent months. Th...
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Delaware bankruptcy court restricts Nortel trading
Bankruptcy 01/16/2009The U.S. Bankruptcy Court for the District of Delaware ordered trading restrictions on shares of Nortel Networks Corp., the Canadian telecommunications equipment maker said Friday. Toronto-based Nortel said restrictions were set on trading of its com...
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Chesapeake Corp. files for bankruptcy protection
Bankruptcy 12/30/2008Specialty packaging company Chesapeake Corp. has filed for Chapter 11 bankruptcy protection and plans to sell itself to a group of investors for about $485 million.The company's stock, which is traded over-the-counter, closed at 6 cents Monday, well ...
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Ill. farmer pleads guilty in bankruptcy fraud case
Bankruptcy 11/27/2008A southern Illinois farmer pleaded guilty Wednesday to federal bankruptcy fraud charges, and his attorney said outside court that his client had nothing to do with the unsolved killings of a potential witness and his wife.Joseph Diekemper, 60, of Car...
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Circuit City files for bankruptcy protection
Bankruptcy 11/11/2008Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday season approaches.It said it decided to file for bankruptcy protection becau...
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British bankruptcies jump 9.5 percent in 3Q
Bankruptcy 11/10/2008Individual bankruptcies in Britain jumped 9.5 percent in the third quarter from last year, while company insolvencies rose a stunning 26 percent as the financial crisis hiked the cost of loans, official figures showed Friday.Britain's Office for Nati...
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Bankruptcy judge orders victim to pay back thief
Bankruptcy 09/22/2008Mark Poveromo feels ripped off twice over. A judge ordered him to repay money he collected from a builder convicted of stealing from him — and told him to kick in the thief's attorney fees and court costs, too.Some legal experts say the case, in whic...
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Lehman Brothers schedules bankruptcy court hearing
Bankruptcy 09/17/2008Lehman Brothers has scheduled a hearing in its bankruptcy case that could lead to a judge's approval of an asset sale.The investment bank, which filed the biggest U.S. bankruptcy case on Monday, has on its agenda for the meeting Tuesday afternoon a m...
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Lehman Brothers files for Chapter 11 protection
Bankruptcy 09/15/2008Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 bankruptcy protection from its creditors on Monday and said it was trying to sell off key business units.The filing was m...