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Bankruptcy News

Ontario provincial governments look to liquidate GM holdings

When General Motors emerged from bankruptcy in 2010, the Canadian federal and Ontario provincial governments found themselves among the largest shareholders in one of the biggest automakers in the world and, currently, the governments want to liquidate.
In the Media by Jeannie Stokowski-Bisanti

Judge declares Mexicana airline bankrupt

Mexico - A Mexican judge has declared Mexicana de Aviacion, one of Latin America's oldest airlines, bankrupt and ordered the sale of the debt-ridden company's assets, a court said Friday.
In the Media by AFP

LightSquared asks court not to re-open trial with Ergen

Broadband company LightSquared has urged a judge not to re-open a trial that ended last week over Dish Network Corp Chairman Charles Ergen's purchase of LightSquared debt, saying it would delay resolution...
In the Media by Dena Aubin (Reuters)

Bankrupt Fisker sells assets to China's Wanxiang

Washington - The one-time star electric carmaker Fisker Automotive said Monday it sold "substantially all" of its assets to the Chinese auto parts group Wanxiang for $150 million.The news came after last year's bankruptcy filing by Fisker, whose sleek, sporty elect...
In the Media by AFP

Austrian offers up 7,000 artworks to save DIY chain

Vienna - An Austrian businessman offered Monday to sell his renowned 7,000-work contemporary art collection to the state for 86 million euros ($118.5 million) to save his stricken international home improvement chain."My wife and I are ready to hand over the en...
In the Media by AFP

Judge hears arguments on LightSquared bankruptcy plan

A member of a committee helping to oversee LightSquared's restructuring said on Wednesday he believes the company's plan to subordinate the claims of its largest creditor, Dish Network Corp <DISH.O>...
In the Media by Nick Brown (Reuters)

Ahead of bankruptcy hearing, LightSquared seeks finding against Ergen

Broadband company LightSquared on Monday urged a judge to find that its largest creditor, Dish Network Corp Chairman Charles Ergen, acquired his debt holding improperly. U.S.
In the Media by Nick Brown (Reuters)

Sandwich chain Quiznos files for bankruptcy protection

Sandwich chain Quiznos Corp filed for pre-packaged bankruptcy protection on Friday after struggling for years with high debt and rising competition.
In the Media by Reuters

Bitcoin exchange MtGox files for US bankruptcy protection

New York - The troubled Bitcoin exchange MtGox filed for protection under US bankruptcy law Monday, 10 days after doing the same in Japan after a huge loss of the digital currency, a court document showed.The Japanese firm is now protected temporarily under Chapt...
In the Media by AFP

Pizza chain Sbarro files for bankruptcy again

New York - 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 ...
In the Media by AFP

Pizza chain Sbarro files for bankruptcy protection

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.
In the Media by Jonathan Stempel (Reuters)

Mt. Gox files U.S. bankruptcy, opponents call it a ruse

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 the operation was a fraud.
In the Media by Tom Hals (Reuters)

Bitcoin exchange MtGox files for bankruptcy

MtGox, one of the largest Bitcoin exchanges, has filed for bankruptcy. Bitcoins provide a bank account to anyone with a mobile phone, no ID required. However, the freedom to trade seems to have led to a weakness in the systems of major bitcoin exchanges.
In the Media by Tim Sandle - 3 comments

Were you 'goxed'? Might want to add this term to your vocabulary

Bitcoin experienced a significant rise, and now an even faster fall. One of the world's largest exchange for bitcoins was shut down and now filed for bankruptcy.
In the Media by Milton Este

Mt. Gox files for bankruptcy, hit with lawsuit

Mt.
In the Media by Yoshifumi Takemoto and Sophie Knight (Reuters)

MtGox Bitcoin exchange 'files for bankruptcy protection'

Tokyo - The troubled MtGox bitcoin exchange filed for bankruptcy protection in Japan Friday after claims of a multi-million dollar theft from its digital vaults, media reports said.The Tokyo District Court accepted the application from MtGox, Jiji Press and pu...
In the Media by AFP - 1 comment

Clock ticks on Ergen, Falcone fight for LightSquared

With its money running out and a crucial court battle unresolved, the fight over bankrupt wireless venture LightSquared is going down to the wire.
In the Media by Nick Brown (Reuters)

Superstar Placido Domingo lights up NYC Opera tribute

New York - Placido Domingo, one of opera's most popular superstars, went back to his roots late Friday to celebrate the 70th anniversary of the now defunct New York company that launched his career.Since its first performance in 1944 the beloved New York City Ope...
In the Media by Jennie Matthew (AFP)

Ergen balks at treatment under LightSquared's restructuring plan

Charlie Ergen, the largest creditor of bankrupt wireless venture LightSquared, on Friday objected to a framework of the company's restructuring plan that would pay him in the form of a note while giving o...
In the Media by Nick Brown (Reuters)

Op-Ed: Abusing the language — EU changing ‘bankruptcy’ to ‘debt adjusted’

Brussels - You’re not broke, you’re adjusted. You’re not miserable, you’re emotionally fluxed. You’re not using meaningful language, you’re finding excuses. The politically obsessive EU has decided that the word “bankruptcy” has too much of a stigma.
In the Media by Paul Wallis - 11 comments

LightSquared may file new restructuring plan by Friday

LightSquared hopes to submit a consensual restructuring plan by Friday, although the judge overseeing the wireless venture's bankruptcy isn't convinced that will happen.
In the Media by Billy Cheung (Reuters)

German wind park group Prokon files for insolvency

Frankfurt - Prokon, a German financier, developer and operator of wind parks which financed itself via retail investors, has filed for insolvency, it announced on its website on Thursday.
In the Media by AFP

Montenegro launches tender for bankrupt aluminium plant

Podgorica - Montenegro on Saturday launched a tender to sell the partially state-owned KAP aluminium plant, its biggest industrial employer, which has been declared bankrupt, an official said.
In the Media by AFP

Op-Ed: Manny Pacquiao could go bankrupt due to poor financial planning

What happens if boxer Manny Pacquiao suddenly gets injured or disabled in his next ring encounter? God forbid he does not because his fight purse won't be enough to settle his maturing tax obligations to the U.S. and the Philippine governments.
In the Media by Leo Reyes - 2 comments

HipHop Caucus Detroit: Edutainment 101 Special

Detroit - The Hip Hop Caucus is a civil and human rights organization for the 21st century, which began in 2004. Its vision is to create a more "just and sustainable" world by engaging and mobilizing more people in the policy making process.
Digital Journal Report by Layne Weiss - 2 comments

Review: Stranger than fiction, the lives of soap stars Special

Some of the plots in the UK's leading soaps beggar belief, but the off-screen trials and tribulations of their casts are stranger than fiction.
Digital Journal Report by Alexander Baron

Op-Ed: What can be done about Detroit?

Detroit - The City of Detroit is broke. Can alternative economics solve this problem, or must it go down the tubes because of the lack of finance?
In the Media by Alexander Baron - 1 comment

Op-Ed: U.S. economic collapse nears

Today more U.S. cities could experience bankruptcy like Detroit. Detroit's bankruptcy filing spread major concerns throughout the financial world in America. The U.S. economy could collapse by years end.
In the Media by Eliot Elwar - 3 comments

Casey Anthony to court: 'I'm living free off others' kindness'

Tampa - Appearing at a federal bankruptcy hearing in Tampa on Monday, Casey Anthony told creditors that she's broke, doesn’t have a job or a car, saying: "I guess you could say I'm living free off the kindness of others."
In the Media by Yukio Strachan - 1 comment

Detroit Mayor optimistic despite harrowing economic figures

Detroit - Detroit Mayor Dave Bing spent a large majority of his ‘State of the City’ declaration optimistically outlining all of the city’s cost-cutting and revenue-boosting ventures.
In the Media by Ruben Flam-Shepherd - 1 comment
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Solyndra Corporation
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Borders bookstore.  Rogers  Ark.  Feb. 20  2011
Borders bookstore. Rogers, Ark. Feb. 20, 2011
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Detroit Mayor David Bing during a meeting focusing on the financial stability of the city
City of Detroit
Detroit Mayor David Bing during a meeting focusing on the financial stability of the city
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Hostess Twinkees
Larry D. Moore
Hostess Twinkees
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Casey Anthony leaves the federal courthouse in Tampa  with a U.S. Marshal after a bankruptcy hearing...
Twitter via AP
Casey Anthony leaves the federal courthouse in Tampa, with a U.S. Marshal after a bankruptcy hearing Monday, March 4, 2013.
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A Linens & Things going out of business
Flickr user Stephen Yeargin
A Linens & Things going out of business
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