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The trustee overseeing the carcass of Mt. Gox, once the world's largest trading platform for Bitcoin, told investors Wednesday that the company could be revived.
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"The company's current debt obligations of over $1.2-billion and annual interest expense of $113-million are unsustainable," Algoma's general counsel, Robert Sandoval, revealed in a court filing that said the steel maker rejected a proposal by one group of creditors that it file for protection under the Companies' Creditors Arrangement Act .
The owner of California's Bryman College chain -- with campuses in San Jose, Hayward, San Francisco and Los Angeles -- is in financial trouble and could close.
One of the Phoenix-area's largest painting contractors has filed for Chapter 11 bankruptcy.
Two major bond insurers that could lose billions on Detroit's bankruptcy blasted the city's plan to pay retirees more than financial creditors and vowed to fight retirees' endorsement of the deal.
New London's Board of Education has postponed a planned vote to approve the contract for its new superintendent of schools.
Beach First National Bancshares' long-running bankruptcy case could be drawing to a close with a proposed settlement between the trustee and the bank holding company's former directors, but Beach First's former shareholders likely won't have much to cheer about.
A court-appointed expert says the city's debt-cutting bankruptcy plan is feasible, but stressed Detroit needs more municipal workers and commitment from its leadership to carry out the massive restructuring.
Only 8.2 million people went to one of Six Flags' 18 parks in April, May or June.
Detroit suspended its aggressive policy of cutting off water to customers with unpaid bills on Monday, the latest response to a controversy that has prompted large protests and caught the attention of the judge overseeing the city's bankruptcy.
A leading lawyer who was subjected to death threats after sitting in judgment on Rangers has gone bankrupt with debts of more than 200,000.
From 2000 to 2010, total insolvency applications aggregated to 1,427 out of which 1,018 were filed in 2009.
A Utah company's cancellation of an annual fun run featuring a muddy, foamy obstacle course has left participants out of money in Nevada, Oregon and other states.
The Wisconsin International School filed for Chapter 7 bankruptcy this month after notifying staff and parents by email the school was shutting down immediately, Press-Gazette Media reported Saturday.
Dozens of employees of one fast food chain are out of a job after at least six Arby's restaurants in Northeastern and Central Pennsylvania suddenly shut down.
In the little more than a year since state-appointed emergency manager Kevyn Orr made Detroit the largest U.S. city to seek bankruptcy protection, it has experienced a wide range of improvements that will factor into Judge Steven Rhodes' decisions during next month's bankruptcy trial.
Updated: Wed Jul 23, 2014 07:38 am
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