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    News and Articles on Bankruptcy

    Latest News: Bankruptcy

    Fed to mull recovery, financial stability at policy meeting  Nov 3, 2009
    The perception, cemented after Lehman Brothers' disastrous bankruptcy, that the public sector will not allow a major financial institution to fail, has lowered the cost of borrowing for banks. Losses in the commercial real estate sector, which have been flagged loudly by Fed Governor Daniel Tarullo and a host of regional central bank presidents, suggest the perils of the credit crunch are not yet over for banks. (Yahoo News -- Press Releases)

    CIT woes could hit Alpha notes  Nov 3, 2009
    Alpha Financial Products has issued a warning that its managed income notes could be affected by the bankruptcy of US based CIT Group ... CIT filed for bankruptcy on Friday after it was unable to secure ongoing financing. (Sydney Morning Herald -- Business)

    Enron's Skilling May Report to Federal Prison Today  Nov 3, 2009
    Skilling maintains his innocence and said he was made a scapegoat in Enron's collapse and bankruptcy. Skilling, who transformed Enron from a sleepy pipeline company into the world's largest energy trader before the company plunged into bankruptcy in 2001, has been under house arrest in his 9,215-square-foot Mediterranean mansion in Houston's River Oaks section. (Yahoo News -- Enron)

    GAO: Taxpayers Won't Recoup $80B Car Loans  Nov 3, 2009
    The concluded that General Motors Co. and Chrysler Group LLC likely won't be valuable enough for the Treasury Department to break even on its investment in the two auto companies that went though bankruptcy earlier this year. The GAO also revealed that the Obama administration is closely scrutinizing the finances of GM and Chrysler and has set some requirements on production even though it has said it will maintain a hands-off approach on the automakers' daily operations. (CBS News)

    County sues state for unpaid sewer bills (536)  Nov 3, 2009
    There is no telephone listing or apparent online presence for the former tenant, Control Environment Aquaculture Technology Inc., which she said previously declared bankruptcy. Ward responded no when asked if it is the state s intent to pay the sewer fees owed to the county for the property. (Lihue Garden Island, HA)

    From Greg Gordon at McClatchy  Nov 3, 2009
    "John Coffee, a Columbia University law professor who served on an advisory committee to the New York Stock Exchange, said that investment banks have wide latitude to manage their assets, and so the legality of Goldman's maneuvers depends on what its executives knew at the time."It would look much more damaging," Coffee said, "if it appeared that the firm was dumping these investments because it saw them as toxic waste and virtually worthless. "Lloyd Blankfein, Goldman's chairman and chief... (Harper's Magazine)

    Republicans made U.S. nearly bankrupt  Nov 3, 2009
    Thanks again to the trickle-down, deregulate, Republican mindset that has borrowed and spent the United States to near bankruptcy. Thank you to Cook for believing without finding out the truth and thinking badly of people who do research and find out the truth instead of taking the word of liars like Rush and Larson. (Klamath Falls Herald & News, OR)

    Economy, overbuilding hurts CP retail center  Nov 3, 2009
    Just two years after being built, the retail center that has stood almost empty has filed for Chapter 11 bankruptcy protection ... Smoke on Ice wrote on Oct 29, 2009 10:55 AM:" Yet we have a mayor and council who continue to consider retail as Economic Development. A council who ignored our own Towne Center TIRZ to give incentives to 1890 Ranch directly across the street. A council who committed over $70M to the arena, also directly across the street. A council who further gave incentives to the... (Cedar Park Hill Country News Weekender, TX)

    Enbridge Income Fund Announces Third Quarter Results, Evaluating Corporate Restructuring  Nov 3, 2009
    1 million bankruptcy settlement received by Alliance Canada ... The decrease is primarily attributable to the Calpine Energy Services Canada Partnership (CESCA) bankruptcy settlement received in the nine months ended September 30, 2008 in respect of CESCA's repudiated capacity commitment ... The lower distribution payout rate for the nine months ended September 30, 2008 reflected the CESCA bankruptcy settlement received in 2008. (CCNMatthews Press Releases)

    Read the 'Cost of Freedom' recap  Nov 3, 2009
    Either way, we can't afford this bill it's going to drive us right into bankruptcy. Julia Piscitelli, Democratic strategist: We can't afford not to pass this legislation. (Fox News)

    Retailers snap up vacant Fresno-area spaces  Nov 3, 2009
    The sales could be final in two weeks if a federal bankruptcy judge OKs them, and River Park developer Ed Kashian said he expects Macy's to open in time for the Christmas season. As expected, Forever 21 also bid on Gottschalks stores Thursday, taking 14 sites in three states. (Fresno Bee)

    Goldman left foreign investors holding subprime bag  Nov 3, 2009
    The analyst's report, a copy of which was obtained by McClatchy, described Goldman as "a single underwriter solely interested in pushing its dirty inventory onto unsuspecting and obviously gullible investors. "In this case, it is a foregone conclusion that many relatively senior bondholders will suffer severe losses," said the analyst's report, which was made available on the condition of anonymity because the offering barred unauthorized disclosure. McClatchy also learned of a second private... (Anchorage Daily News)

    Iceland flips last burger  Nov 3, 2009
    Ogmundsson announced on Monday the closure of the McDonald's branches as a result of the dramatic economic collapse last year, which pushed the country to the brink of bankruptcy. McDonald's requires all resources for its restaurants, including packaging, meat, vegetables and cheese, to be imported as the Icelandic market is too small to produce the required products. (iAfrica.com)

    Strong Canadian Dollar Good for Business, Quebec Economic Official Says  Nov 3, 2009
    The Canadian dollar traded near parity with its U.S. counterpart for more than eight months last year, before the greenback surged as investors sought its safety after the bankruptcy of Lehman Brothers Inc. in September 2008. Quebec is home to about 7. (Bloomberg -- Canada)

    Ford posts $1 billion profit  Nov 3, 2009
    Shares of Ford, the only Detroit automaker to dodge government aid and bankruptcy protection, rose 50 cents, or 7 ... Ford also has benefited from consumer goodwill after it declined government bailout money and didn't go into bankruptcy over the summer as GM and Chrysler did. (The News-Press -- Business)

    Capitol comments: Two Georgia congressmen tackle health care  Nov 3, 2009
    I m afraid the current House and Senate bills only make things worse by further cementing us to this unwise payment system, adding costs and hastening federal bankruptcy. In his thoughtful health care address to Congress, Obama said I am not the first president to deal with this issue, but I am determined to be the last. (Atlanta Journal-Constitution -- Opinion)

    Market Forecaster  Nov 3, 2009
    63 billion, according to a filing with a Texas bankruptcy court. The Pittsburg, Texas-based poultry company filed for bankruptcy protection in December, 2008 ... It files monthly financial reports to the bankruptcy court which are not strictly comparable to previous filings with the Securities and Exchange Commission. (Midwest Bulls Eye, NE)

    Six Flags Announces Third Quarter and Nine Month Results and Reaffirms 2009 Adjusted Ebitda Forecast of $190 Million  Nov 3, 2009
    On June 13, 2009, Six Flags, Inc., Six Flags Operations Inc., Six Flags Theme Parks Inc. ("SFTP") and certain of SFTP's domestic subsidiaries filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Case No. 09-12019) ... These risks and uncertainties include, among others, Six Flags' ability to develop, prosecute, confirm and consummate one or more Chapter 11 plans of reorganization; the... (Yahoo! Wire -- Entertainment News)

    Ford posts surprising profit  Nov 3, 2009
    -- Ford, the only U.S. automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011 ... Ford also has benefited from consumer goodwill after it declined government bailout money and didn't go into bankruptcy over the summer as GM and Chrysler did ... -- Ford, the only U.S. automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of... (New York Post -- News)

    Stock Analysts Proving Right on Earnings With Investors Refusing to Agree  Nov 2, 2009
    The S&P 500 posted the biggest drop since July on Oct. 30 as declining consumer confidence and spending and the threat of a bankruptcy raised concern over the durability of the recovery. New York-based CIT filed for Chapter 11 yesterday with financing from investor after the credit crunch dried up its funding. (Bloomberg -- US)

    Atlantic City teeters on edge  Nov 2, 2009
    Over the summer, the Tropicana was sold in bankruptcy court; another three of the town's 11 casinos are under bankruptcy protection. The lender for yet another, Resorts International, is in talks to take it over and could by year-end. (San Francisco Chronicle)

    Asian Stocks Fall on Yen, U.S. Consumer Spending Report; Mitsubishi Drops  Nov 2, 2009
    New-York based commercial lender filed for bankruptcy on Nov. 1 ... Lopro Corp., an Osaka-based corporate lender, was suspended from trading after the company filed for bankruptcy today amid swelling interest repayments. (Bloomberg -- Asia)

    Asia share drop ltd after Wall St hit  Nov 2, 2009
    Worries about the US financial sector resurfaced after CIT Group Inc, the lender to small and 00004000 mid-sized US companies, filed for bankruptcy and an accounting expert said Citigroup may need further write-downs. But the fallout on Asian equity markets was limited and higher-yielding currencies quickly recovered from early losses, with some market players blaming the volatile moves on profit-taking and portfolio reshuffling before year-end. (India Times)

    Asian stocks drop on economic concerns  Nov 2, 2009
    Worries about the US financial sector resurfaced after , the lender to small and mid-sized US companies, filed for bankruptcy and an accounting expert said may need further write-downs. Reuters Limited. (FT.com -- Markets)

    Enron's Skilling May Report to Federal Prison Today  Nov 2, 2009
    Skilling maintains his innocence and said he was made a scapegoat in Enron's collapse and bankruptcy. Skilling, who transformed Enron from a sleepy pipeline company into the world's largest energy trader before the company plunged into bankruptcy in 2001, has been under house arrest in his 9,215-square-foot Mediterranean mansion in Houston's River Oaks section. (Yahoo News -- Enron)

    A look at the top 10 US bankruptcies  Nov 2, 2009
    Retail faces uncertainty as CIT enters bankruptcy. The bankruptcy of a key lender that helps retailers stock their shelves is adding to the industry's worries ahead of the critical holiday shopping season ... CIT Group Inc. filed for Chapter 11 bankruptcy protection Sunday in New York after months of struggling to avoid collapse. (Fresno Bee -- Business)

    Commentary:Politics won in legislative efforts to deal with taxes  Nov 2, 2009
    Words that did not poll well like recession, job loss, unemployment, business failure and bankruptcy are not found in the statements. Not to be outdone, Gov. Kulongoski delayed signing the tax measures to limit the time available to gather petition signatures. (Klamath Falls Herald & News, OR)

    Nikkei hits 3-week closing low  Nov 2, 2009
    Tokyo analysts also said that while investors had been spooked by the bankruptcy filing of US lender CIT Group and concerns about Citigroup's balance sheet, these were no longer a major market factor ... CIT's bankruptcy, one of the largest in US corporate history, had been widely expected for months, but it could further constrict credit and weigh on the fragile US economy. (India Times)

    Republicans made U.S. nearly bankrupt (150)  Nov 2, 2009
    Thanks again to the trickle-down, deregulate, Republican mindset that has borrowed and spent the United States to near bankruptcy. Thank you to Cook for believing without finding out the truth and thinking badly of people who do research and find out the truth instead of taking the word of liars like Rush and Larson. (Klamath Falls Herald & News, OR)

    Standard Parking Corporation Reports Solid Third Quarter 2009 Results and Free Cash Flow of $6.4 Million  Nov 2, 2009
    The following factors are among those that may cause actual results to differ materially from forward-looking statements: the recession and recent turmoil in the credit markets and financial services industry; changes in general economic and business conditions or demographic trends; the financial difficulties or bankruptcy of our major clients, including the impact on our ability to collect receivables; availability, terms and deployment of capital; potential impact on the market price of our... (Primezone Releases)

    Terminator franchise to be auctioned  Nov 2, 2009
    The sale is being conducted by FTI Capital Advisors, recently appointed by Halcyon when it sought bankruptcy protection. Halcyon filed for Chapter 11 after a dispute with Pacificor, a Santa Barbara-based hedge fund that lent Halcyon funds to buy the Terminator rights. (CNN -- International)

    Officials' financial errors cost taxpayers  Nov 2, 2009
    "We need a worldview change about transparency, and that includes municipal finance," said Warren, a professor of bankruptcy law at Harvard Law School. The public paid extra costs for borrowing with tax-exempt bonds because local governments resist providing investors the same level of disclosure as corporate borrowers, which file quarterly reports. (Honolulu Advertiser)

    Depression link to processed food  Nov 2, 2009
    Page last updated at 00:11 GMT, Monday, 2 November 2009. Please turn on JavaScript. (BBC News -- UK)

    Asian Stock Markets Slide Amid US Recovery Doubts  Nov 2, 2009
    Asian stocks retreat after weak US consumer mood, CIT bankruptcy; European markets mixed ... Exacerbating investor worries was U.S. lender CIT Group's bankruptcy filing Sunday, which dragged financials sharply lower across the region ... More bad news followed Sunday with CIT filing for Chapter 11 protection after struggling for months to avert bankruptcy. (ABC News -- Business)

    GEITHNER:  Recovery will take 'awhile,' Treasury chief says  Nov 2, 2009
    Geithner: Recovery 'going to take awhile' - USATODAY.com. Geithner: Recovery 'going to take awhile. (USA Today -- Money)

    Secret Atlanta Bond Deal Led IRS to Middleman Rubin Financing in the Dark  Nov 2, 2009
    CDR also advised Jefferson County, Alabama, on interest- rate swaps that pushed the county close to bankruptcy and were at the center of Birmingham Mayor bribery conviction Oct. 28 ... New York-based Lehman declared bankruptcy in September 2008 and is being liquidated. (Bloomberg)

    Rand spikes on misprice  Nov 2, 2009
    "Following the worst day for Wall Street in months on Friday, US small business lender CIT filed for bankruptcy over the weekend in what is one of the largest corporate failures in history. US dollar/rand spiked immediately to 8.25 as trade opened in Asia - but this was a massive overreaction and we should come into regular trade at around 7.90 this morning" they said ... Dow Jones Newswires reported that the dollar recouped lost ground against the yen in Asia on Monday as US banks bought the... (iAfrica.com)

    No responsibility  Nov 2, 2009
    CIT Group files for US bankruptcy. Monster meatball sets new record. (BBC News)

    Geithner: Recovery 'going to take awhile'  Nov 2, 2009
    Get information on education programs that could help you increase your earning power. Geithner: Recovery 'going to take awhile. (USA Today -- Money)

    Stock futures signal rebound on Wall Street  Nov 2, 2009
    The banking sector will be in the spotlight after CIT Group Inc (CIT.N), a U.S. lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession hit its loans. Goldman Sachs Group Inc (GS.N) is in talks to buy millions of dollars of tax credits from Fannie Mae (FNM.N), but the U.S. Treasury could block the deal, The Wall Street Journal reported on Sunday. (Yahoo News -- Press Releases)

    Stocks Drop Most in Month on Stronger Yen, Weaker Commodities; Canon Falls  Nov 2, 2009
    Stocks also fell after CIT Group Inc. filed the biggest bankruptcy claim in the U.S. in more than a year ... New-York based CIT filed for bankruptcy on Nov. 1, with $71 billion in assets and $64. (Bloomberg -- Japan)

    Detroit's School System Battling Budget Deficits Leads Muni Bond Measures  Nov 2, 2009
    Nov. 2 (Bloomberg) -- school system, which considered bankruptcy or selling assets to cut costs after seven years of budget deficits, leads U.S. states and municipalities seeking voter approval tomorrow to borrow $7 ... Bankruptcy an Option ... Robert C. Bobb, appointed by Michigan Governor as emergency financial manager for the district, has recommended bankruptcy as one option for addressing the deficit, district spokesman Steven Wasko said in July. (Bloomberg -- US)

    CIT Files for Bankruptcy; U.S. Is Unlikely to Recoup $2.3 Billion Bailout  Nov 2, 2009
    CIT Group Files Bankruptcy, Seeks to Cut $10 Billion in Debt - Bloomberg ... CIT Group Files Bankruptcy, Seeks to Cut $10 Billion in Debt ... Nov. 2 (Bloomberg) -- the 101-year-old commercial lender that saw its funding dry up in the credit crunch, filed for bankruptcy in an effort to cut $10 billion in debt following a failed debt exchange and U.S. taxpayer bailout. (Bloomberg -- US)

    Economy, overbuilding hurts CP retail center  Nov 1, 2009
    Just two years after being built, the retail center that has stood almost empty has filed for Chapter 11 bankruptcy protection ... Smoke on Ice wrote on Oct 29, 2009 10:55 AM:" Yet we have a mayor and council who continue to consider retail as Economic Development. A council who ignored our own Towne Center TIRZ to give incentives to 1890 Ranch directly across the street. A council who committed over $70M to the arena, also directly across the street. A council who further gave incentives to the... (Cedar Park Hill Country News Weekender, TX)

    Meet TARP on steroids  Nov 1, 2009
    The Administration would wait until a giant bank was in danger of failing and then put it into a process akin to bankruptcy. The bank's assets would be sold off to pay its creditors, and its shareholders would likely walk off with nothing. (Salon)

    All together now  Nov 1, 2009
    " And I completely agree with Clinton, but that doesn't mean Obama's opponents aren't coating their opposition with the sweet special sauce of racism. Obama knows that, both Clintons know that, and smart Democrats need to know that, ASAP. I spent 2008 telling Obama-supporting Democrats that they would need to learn quickly from the lessons the Clintons learned painfully. It was great to find out that Obama agreed with me after his nomination, when he courted the Clintons, picked Hillary as... (Salon)

    Andersen Will Settle Suit Over WorldCom  Nov 1, 2009
    The fraud pushed the telecommunications company into the largest bankruptcy filing in U.S. history in 2002 and cost investors billions. WorldCom has emerged from bankruptcy protection and now operates as Ashburn, Va. (Yahoo News -- WorldCom/MCI)

    Devouring the future  Nov 1, 2009
    When you owe more than you take in, it s called bankruptcy ... To add another expensive entitlement to a nation facing bankruptcy in a few years is like landscaping the front yard while the house is burning down. (Braintree Forum, MA)

    J.P. Morgan Settles WorldCom Suit for $2 Billion  Nov 1, 2009
    J.P. Morgan helped underwrite major WorldCom bond offerings in the two years before the telecommunications firm filed the largest bankruptcy case in U.S. history in 2002. Plaintiffs in the class-action case, lead by New York State Comptroller Alan G. Hevesi, claim J.P. Morgan and other WorldCom advisers and directors should have discovered the company's $11 billion accounting fraud and disclosed it to investors. (Yahoo News -- WorldCom/MCI)

    Golden Gate Fields to be auctioned in February  Nov 1, 2009
    which has been in Chapter 11 proceedings since March, got bankruptcy court approval to put Golden Gate Fields up for sale on Feb. 25, 2010 ... Magna got bankruptcy approval this week to sell Texas Lone Star Park for $47. (East Bay Business Times, CA)

    California's folly - Prop. 13  Nov 1, 2009
    These two requirements have, in time, helped to lead the state into financial bankruptcy and created a dysfunctional state government. The social consequences that I predicted then, and are all too apparent now, are a race to the bottom in: education (from kindergarten through our world-class university system); public health; social services; public safety; the arts, library and culture; and infrastructure development; as well as harming the ability of local governments to provide basic... (San Francisco Chronicle -- Opinion)

    Ford Auto Workers Reject Contract Changes  Nov 1, 2009
    Ford sought the deal to bring its labor costs in line with Detroit rivals Chrysler Group LLC and General Motors Co., both of which won concessions from the union as they headed into bankruptcy protection earlier this year ... But workers weren't convinced they should make more concessions, since Ford avoided bankruptcy and is considered healthier than its rivals. (Time.com)

    Rise of Elkann could finally lead to demise of car maker  Nov 1, 2009
    "He's a dynamic and innovative leader," says Ron Bloom, the head of the US government's auto task force, which led the restructuring of Chrysler in bankruptcy. "He's just what Chrysler needs.". (Business Report, South Africa)

    Southwest Montana Snapshot  Nov 1, 2009
    I know that if Obama had let GM and Chrysler fall into bankruptcy, the whole auto industry in the U.S. would have failed (including Toyota, Nissan, Honda, etc. as the part supplier companies would have also failed. (Montana Standard, MT)

    Poor insurance companies  Nov 1, 2009
    Hows that for a formula for bankruptcy. Poor insurance companies indeed. (Fresno Bee -- Opinion)

    Going for Broke (1033)  Oct 31, 2009
    (l to r) The Brockman Building, the Roosevelt and the Concerto are three of the Downtown housing complexes that have filed for Chapter 11 bankruptcy protection ... Now, some of the developers of those buildings are hitting hard times, and at least eight Downtown residential projects are in bankruptcy ... In additional instances the economic downturn has caused developers to otherwise lose control of their properties, and the Downtown Marriott hotel is also in bankruptcy. (Los Angeles Downtown News, CA)

    SCI-Arcs Downtown Future Uncertain (822)  Oct 31, 2009
    But Meruelo Madduxs current financial situation may jeopardize its ability to keep the land: The company filed for Chapter 11 bankruptcy protection in March and, in June, an outside investor bought the debt attached to 10 Meruelo Maddux properties, including the SCI-Arc plot and three adjacent sites ... Legendary Investors must get approval from the judge handling the Meruelo Maddux bankruptcy case to proceed with any foreclosures. (Los Angeles Downtown News, CA)

    Georgia Bank & Trust owner reports lower income  Oct 31, 2009
    NEW YORK --- Commercial lender CIT Group Inc. said Friday that billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan amid reports CIT might soon file for bankruptcy protection. Mr. Icahn also agreed to provide CIT with a $1 billion line of credit. (The Augusta Chronicle)

    Economy, overbuilding hurts CP retail center  Oct 31, 2009
    Just two years after being built, the retail center that has stood almost empty has filed for Chapter 11 bankruptcy protection ... Smoke on Ice wrote on Oct 29, 2009 10:55 AM:" Yet we have a mayor and council who continue to consider retail as Economic Development. A council who ignored our own Towne Center TIRZ to give incentives to 1890 Ranch directly across the street. A council who committed over $70M to the arena, also directly across the street. A council who further gave incentives to the... (Cedar Park Hill Country News Weekender, TX)

    6 comments  Oct 31, 2009
    But the moment when our President is wrecking our national credit and driving us into bankruptcy, appointing a self-styled (recently ex-)Communist and a proponent of queering elementary education to positions overseeing jobs and school safety, and attempting to socialize American medicine is hardly the time to be wringing our hands about the paranoid style in American politics. Let s save that discussion for some time when they re not really out to get us. (Human Events Online)

    'Idol' host Ryan Seacrest gets restraining order  Oct 31, 2009
    Creditors have forced local media mogul Harry J. Pappas into a personal bankruptcy filing -- an unusual move that threatens his effort to save Visalia-based Pappas Telecasting Companies from financial disaster. Filed Monday in the U.S. Bankruptcy Court for the District of Delaware under Chapter 7 of the Bankruptcy Code, the action could lead a judge to order the sale of personal property to pay off debt ... It follows on the heels of a bankruptcy petition filed Friday by Pappas Telecasting,... (Fresno Bee -- State)

    Failed Wallace development site for sale — again (1037)  Oct 31, 2009
    Since the housing market tanked, however, the owners have filed for bankruptcy and the property will be put up for auction ... The two developers who owned the property each filed for bankruptcy in 2008, with one of them reportedly owing various banks more than 972 million ... Instead, both John D. Reynen and Christo Bardis filed for personal bankruptcy. (Lodi News Sentinel, CA)

    SEC Probes of Madoff Were "A Nightmare"  Oct 31, 2009
    Speaking of consumer spending (which the Post analyzes in a separate ), CIT, a lender who greases the skids of commerce for thousands of small businesses, could file for bankruptcy protection as soon as Sunday, the paper. The Wall Street Journal that $2. (Slate)

    Federal prison for thief who stole nanny's ID  Oct 31, 2009
    She took every piece of my clothing, all of my household items, all of my personal property and all of my very valuable jewelry. I want people to know it could happen to them and to beware of even people you know. (Seacoast New Hampshire)

    Stocks plunge as worries mount about recovery; Dow drops 250  Oct 31, 2009
    Billionaire investor and bondholder agreed to support the company's restructuring plan and provide it with a , but investors are still worried that the company could file for bankruptcy protection. The stock tumbled 24. (USA Today -- Money)

    Owners settle in  Oct 31, 2009
    Tribune, which retained a 5 percent stake in the team, filed for bankruptcy last December. Like other bidders, Ricketts, the team's chairman, had been eager to take control of the National League team. (ESPN -- Baseball)

    Enron's Skilling May Report to Federal Prison Today  Oct 31, 2009
    Skilling maintains his innocence and said he was made a scapegoat in Enron's collapse and bankruptcy. Skilling, who transformed Enron from a sleepy pipeline company into the world's largest energy trader before the company plunged into bankruptcy in 2001, has been under house arrest in his 9,215-square-foot Mediterranean mansion in Houston's River Oaks section. (Yahoo News -- Enron)

    Business is booming in Sterling Heights (99)  Oct 31, 2009
    Following the bankruptcy filing of Chrysler LLC in April, a new company called New CarCo was created and thus acquired the Sterling Stamping Plant on Van Dyke. A request was made to transfer the tax abatements on that property from the old Chrysler to the new Chrysler - and the council unanimously approved the decision. (Shelby Twp Advisor & Source, MI)

    Hedge fund exec testifies in Petters case  Oct 31, 2009
    Ritchie Capital and affiliated companies were owed $250 million by Petters Group, according to bankruptcy court documents. During negotiations, Colburn said he understood that Petters always wanted transactions done in a tight time frame. (Twin Cities Business Journal, MN)

    'Anybody Have a Lighter?'  Oct 31, 2009
    Beyond that, the bill charges the Department of Health and Human Services with creating an enormous government-run health plan that will drive many private insurers into bankruptcy. And it imposes a 2. (Fox News)

    Southwest Montana Snapshot  Oct 31, 2009
    I know that if Obama had let GM and Chrysler fall into bankruptcy, the whole auto industry in the U.S. would have failed (including Toyota, Nissan, Honda, etc. as the part supplier companies would have also failed. (Montana Standard, MT)

    US stocks dive as fears overtake growth hopes  Oct 31, 2009
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    Beating the tax man, but hardly surviving  Oct 31, 2009
    Julie Knight An expensive court battle with the state Department of Revenue over a questionable tax levy brought Tammy Webster and her company to the brink of bankruptcy ... The odyssey that began for Tammy Webster and her husband and partner Jim Webster with that notice would turn their business from one of the fastest growing in the Triad to one on the edge of bankruptcy, put their home at risk of foreclosure and their employees out of work. (Triad Business Journal, NC)

    Canada Court Says Government Sales Taxes Are Ordinary Claims in Bankruptcy  Oct 31, 2009
    Canada Court Says Sales Taxes Are Ordinary Claims in Bankruptcy - Bloomberg ... Canada Court Says Sales Taxes Are Ordinary Claims in Bankruptcy ... Oct. 30 (Bloomberg) -- Canadas federal and provincial governments cant skip ahead of other creditors in a bankruptcy to retrieve sales taxes the company had collected, Canadas highest court today. (Bloomberg -- Canada)

    Market Forecaster  Oct 31, 2009
    63 billion, according to a filing with a Texas bankruptcy court. The Pittsburg, Texas-based poultry company filed for bankruptcy protection in December, 2008 ... It files monthly financial reports to the bankruptcy court which are not strictly comparable to previous filings with the Securities and Exchange Commission. (Midwest Bulls Eye, NE)

    Sinking feeling  Oct 31, 2009
    CIT Group, facing a bankruptcy filing this weekend, tumbled 3 ... CIT Group, facing a bankruptcy filing this weekend, tumbled 3. (New York Post -- News)

    COPT pays $38M for building near BWI  Oct 31, 2009
    for defense contractor when mounting debts forced it into bankruptcy in July. reported Aug. 28, the offering was expected to generate a significant amount of interest because of the building s location near Baltimore/Washington International Thurgood Marshall Airport and the credit standing of its Fortune 500 tenant. (Baltimore Business Journal, MD)

    Apollo Weakness for Phoenix Revenues Spurs Short Sellers With SEC's Probe  Oct 31, 2009
    He is unemployed, owes $45,000 in student loans and may declare bankruptcy, Saffery said. Jones declined to comment on individual students, citing privacy considerations. (Bloomberg)

    Flight School's Student Loan Suit Settled  Oct 31, 2009
    Nevada-based Silver State Helicopter Flight declared bankruptcy in February 2008 and closed its 34 flight schools nationwide -- including one at Craig Airport -- one week after the National Transportation Safety Board issued a report on a fatal March 2007 of one of the company's helicopters on Ponte Vedra Beach ... According to published reports, the Florida Attorney General's Office received more than 300 complaints after the school filed for bankruptcy. (News4Jax.com, FL)

    Teacher fight in Clayton sounds like Jerry Springer script  Oct 31, 2009
    4:53 pm October 30, 2009, by Maureen Downey. A messy love triangle is one thing, but a brawl in a school with expletives flying in front of students crosses a line. (Atlanta Journal-Constitution -- Metro)

    A Fearful Friday for Stocks  Oct 31, 2009
    Meanwhile, () plunged 24% after Carl Icahn agreed to support its prepackaged bankruptcy plan. Another appropriate touch as the spookiest day of the year drew near: The Street's traditional fear gauge, the VIX volatility index, spiked above 30 for the first time since July. (BusinessWeek)

    US stocks swoon, dow down 250 points  Oct 31, 2009
    Bank stocks were hardest hit as investors worried about the fate of commercial lender CIT Group Inc. Billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan and provide it with a $1 billion line of credit, but investors are still worried that the company could file for bankruptcy protection. The stock tumbled 24 percent. (The Star Online, Malaysia)

    Wall St falls  Oct 31, 2009
    However, reports said CIT may soon file for bankruptcy protection despite the bail. Traders work on the trading floor of New York Stock Exchange in New York, the U.S., Oct. 30, 2009. (Xinhuanet, China)

    Bank bailouts  Oct 31, 2009
    The Administration would wait until a giant bank was in danger of failing and then put it into a process akin to bankruptcy. The bank's assets would be sold off to pay its creditors, and its shareholders would likely walk off with nothing. (Salon)

    Now what for the economy? More government stimulus?  Oct 31, 2009
    THE TRUTH IS THAT WE HAVE LEGISLATED and REGULATED OURSELVES INTO BANKRUPTCY. We ve got to reverse these destructive actions. We need to SERIOUSLY foster, encourage and support the development and growth of small business over everything else. (Atlanta Journal-Constitution -- Business)

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