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Bankruptcy News

News on Bankruptcy continually updated from thousands of sources around the net.

19 min ago | Reuters

REFILE-UPDATE 1-Mt. Gox suitors seek support to save bitcoin exchange

A group of investors seeking to buy Mt. Gox has launched a website to garner support from creditors of the bankrupt bitcoin exchange to prevent a liquidation of its assets.

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Related Topix: Economics News, Bitcoin

Thu Apr 17, 2014

SFGate

Judge wants Detroit mayor to back bankruptcy plan

In this Jan. 16, 2013 file photo, Michigan Gov. Rick Snyder delivers his third annual State of the State address to a joint session of the state Legislature in the Capitol in Lansing, Mich.

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Related Topix: Economics News, Rick Snyder, US Governors, Lansing, MI, Business News

The Campbell Reporter

Mi Pueblo grocery chain says it might have to liquidate

Mi Pueblo, the popular and colorful chain of family-grown Hispanic grocery stores, has limited options to re-emerge from bankruptcy protection and faces the possibility of having to liquidate its 21 stores and abandon its 3,260 employees, the company says.

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Related Topix: Economics News

ABC News

2 Ex-Anglo Irish Bank Directors Convicted of Fraud

Two former executives of Anglo Irish Bank were found guilty Thursday of committing fraud in a loans-for-shares scandal - the first convictions to stem from a banking crisis that brought Ireland to the brink of national bankruptcy.

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Related Topix: Economics News

Berkshire Eagle

Bankruptcy attorney: Negotiations underway for BMC parent to acquire NARH facility

Negotiations between the parent company of Berkshire Medical Center and the creditors of the former North Adams Regional Hospital now center on an acquisition of the facility and have reached as far as formal, written offers.

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Related Topix: Economics News, North Adams, MA

Michigan Radio

With major settlements piling up, Detroit bankruptcy moves along at lightning speed

This has proven to be a watershed week in Detroit's bankruptcy case, which is now moving along at lightning speed.

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Related Topix: Economics News, Detroit, MI, Wayne State University

Business Journal

N.W. Holding trucking company files bankruptcy

N.W. Holding Co., a truck leasing company based in north St. Louis, has filed Chapter 11 bankruptcy.

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Related Topix: Economics News

Wed Apr 16, 2014

The New Zealand Herald

Bankrupt developer to spend Easter in jail

A now-bankrupt developer who duped a family into buying properties from his company will spend Easter in jail after an urgent attempt for a second appeal against his sentence failed this morning.

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Related Topix: Prison, Economics News, Home, Mortgage, Personal Finance

TheCourier.com

Ex-official leaves huge debt for California city

A judge also ordered former Bell city manager Robert Rizzo to make $8.8 million in restitution, but prosecutors say that only covers the money he illegally took for himself.

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Related Topix: Economics News, Los Angeles County, CA, Federal Prisons, Prison, State Prisons

Sunherald.com

Detroit still needs $350M from state lawmakers

The city has an $816 million pledge from foundations, philanthropists and Gov. Rick Snyder to shore up pension funds and prevent the sale of city-owned art as part of Detroit's strategy for exiting the largest public bankruptcy in U.S. history.

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Related Topix: Michigan, Michigan Government, US Governors, Rick Snyder, Economics News

Key 103

Mt Gox Bitcoin Exchange Heads For Liquidation

A court-appointed administrator confirmed the rejection and said CEO Mark Karpeles is also likely to be investigated for liability in the collapse of the Tokyo-based firm.

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Related Topix: Economics News, Bitcoin

Reuters

GM to seek court protection against ignition suits

General Motors Co said it would ask a U.S. bankruptcy court to bar plaintiffs from proceeding with lawsuits against the automaker for claims related to any actions before it filed for bankruptcy in 2009.

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Related Topix: Economics News

Norwalk Citizen News

Court rejects bankruptcy protection for Mt. Gox

Mt. Gox said Wednesday the Tokyo District Court decided the company, which was a trading platform and storehouse for the bitcoin virtual currency, would not be able to resurrect itself under a business rehabilitation process filed for in February.

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Related Topix: Economics News, Bitcoin

Metro Times

Detroit bankruptcy 'cramdown' could end pension fight

After rejecting two previous proposals, U.S. Bankruptcy Judge Steven Rhodes last week approved an agreement that has the city of Detroit paying $85 million to escape a disastrous interest-rate swap deal with two banks.

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Related Topix: Detroit, MI, Economics News

Tue Apr 15, 2014

Nanaimo Daily News

Mediators say deal in Detroit bankruptcy means no pension cuts to police, fire retirees

The city of Detroit reached a deal with a group of retired police officers and firefighters that would protect pensions but trim annual cost-of-living payments - the first major agreement with retirees in the bankruptcy case, mediators announced Tuesday.

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Related Topix: Pension, Personal Finance, Economics News, Retirement, Rick Snyder, US Governors

Detroit Free Press

GM seeks bankruptcy ruling on its product liability protection

General Motors wants to delay a federal judge in San Francisco from ruling on a class-action case until a bankruptcy judge in New York decides whether the company is shielded from all product liability claims tied to crashes or defects before it exited bankruptcy in July 2009.

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Related Topix: Economics News

Bradenton.com

Miss. man pleads not guilty in bankruptcy fraud

Prosecutors claim that after Community Home Financial Services filed for Chapter 11 bankruptcy protection, the 57-year-old Dickson wired nearly $9.1 million from the mortgage company's accounts, mostly to a bank in Panama.

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Related Topix: Economics News, Bradenton, FL

Dallas Morning News

EFH delays 10-K again, negotiations with creditors continue

Energy Future Holdings has delayed filing its 10-K earnings statement yet again, as the Texas power giant continues to negotiate with creditors ahead of a bankruptcy filing.

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Related Topix: Economics News, US Securities and Exchange Commission, Financial Services, Corporate / Securities Law, Law, TXU, Energy

WTNH

Textbook publisher quits Stamford for Boston

The company, which emerged from Chapter 11 bankruptcy protection this month after restructuring its finances, will locate 500 jobs in Boston and is looking to add about 50 full-time jobs.

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Related Topix: Economics News

WISH-TV Indianapolis

Firm nears takeover of Indiana Limestone Co.

An investment firm is the only bidder to take over a southern Indiana company that supplied limestone to the Empire State Building, the Pentagon and other iconic buildings.

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Related Topix: Economics News

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