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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
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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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Bankruptcy Blogs

Is Detroit foreshadowing the future of America?

In my previous posting I mentioned that political parties cater to special interest groups, like unions. They also...
Apr 16, 2012 by Allen Small

Ah Solyndra! We Hardly Knew Ya!

While I am in total agreement that the world should treat the Earth and its resources with kindness and conservation I...
Sep 24, 2011 by Jacki Viles - 2 comments
 

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