Recent Updates
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A&P Bankruptcy May Prompt Ahold Bid for Pathmark
Bankruptcy 12/13/2010Great Atlantic & Pacific Tea Co.’s filing for bankruptcy protection may prompt Dutch competitor Royal Ahold NV to bid for the U.S. retailer’s Pathmark stores to add to grocery operations in the country, analysts said. A&P, which operates 400 ...
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Discount retailer Loehmann's files for bankruptcy
Bankruptcy 11/15/2010Discount retailer Loehmann's is filing for bankruptcy after its Dubai government-linked owner failed to reach a debt-extension deal with creditors.Loehmann's says the Chapter 11 filing Monday in the U.S. Bankruptcy Court for the Southern District of ...
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MGM Studio Files for Bankruptcy, Icahn Backs Plan
Bankruptcy 11/03/2010Metro-Goldwyn-Mayer Studios Inc filed for bankruptcy on Wednesday, under a plan that would put one of Hollywood's most storied film studios under the control of its lenders.The Chapter 11 filing follows a vote by MGM creditors last week to endorse a ...
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Wolverine Tube Files for Bankruptcy Court Protection
Bankruptcy 11/01/2010Wolverine Tube Inc., which shut its U.S. plumbing-tube business in 2007, sought bankruptcy protection after failing to restructure the company.Wolverine, based in Huntsville, Alabama, cited assets of $115.6 million and liabilities of $237.5 million a...
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Bankruptcy Court Is Latest Battleground for Traders
Bankruptcy 09/08/2010In Six Flags Inc.'s bankruptcy case last fall, a hedge fund that owned senior bonds negotiated the theme-park company's reorganization plan, then dumped lower-ranking bonds it figured would lose value under the deal.Other creditors cried foul. The he...
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Tribune confident it will leave Ch. 11 in 2010
Bankruptcy 07/28/2010Tribune Co. believes it will still emerge from bankruptcy protection this year even though a court-appointed examiner concluded that talks leading up to a leveraged buyout of the company had bordered on fraud.In a memo to employees, Tribune CEO Randy...
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Ruling on Visteon retiree benefits overturned
Bankruptcy 07/15/2010A federal appeals court has overturned rulings allowing auto parts supplier Visteon Corp. to terminate its retirees' health and life insurance benefits.In a ruling Tuesday, the appeals court in Philadelphia sided with attorneys representing some 2,10...
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BP has options before bankruptcy, lawyers say
Bankruptcy 06/30/2010BP PLC has several options to explore in dealing with the worst environment disaster in U.S. history, but the oil giant may file for bankruptcy if it faces a never-ending flow of claims, lawyers and bankers said Tuesday. "BP has many options besides ...
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Bankruptcy judge approves Visteon disclosure plan
Bankruptcy 06/28/2010A Delaware bankruptcy court judge on Friday cleared the way for auto parts supplier Visteon Corp. to begin soliciting votes on its proposed reorganization plan, which would leave unsecured bond holders in control of the company.Overruling objections ...
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FDIC, WaMu reach agreement on bankruptcy plan
Bankruptcy 05/22/2010The FDIC said on Friday the agreement settles claims between the bankrupt bank's holding company and JPMorgan Chase, which acquired the failed bank.The FDIC is involved because it was appointed receiver of Washington Mutual in September 2008, during ...
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WaMu files amended Chapter 11 plan
Bankruptcy 05/17/2010Bank holding company Washington Mutual Inc. has filed an amended Chapter 11 reorganization plan.The plan filed Sunday in Delaware bankruptcy court is based on a settlement involving WMI, the Federal Deposit Insurance Corporation and JPMorgan Chase Ba...
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U.S. Supreme Court confirmation in about 100 days
Bankruptcy 05/10/2010It takes an average of about 100 days from the time a U.S. Supreme Court justice announces his or her retirement until the Senate confirms a replacement, according to Senate Judiciary Committee.President Barack Obama on Monday nominated Solicitor Gen...