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Bankruptcy News

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

2 hrs ago | Reuters

RPT-Henrik Fisker joins Hong Kong tycoon to salvage Fisker -sources

Henrik Fisker is working with an investor group to salvage Fisker Automotive, the "green" car company he co-founded nearly six years ago that is now struggling to stave off bankruptcy, people familiar with the matter said this week.

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Related Topix: Fisker Karma, Sedan, Fisker Automotive, Economics News, Department of Energy, Automakers, General Motors

6 hrs ago | NewsOK.com

Government, creditors object in CODA bankruptcy

Court papers filed Friday argue that CODA's bankruptcy financing and sale plans unfairly benefit a group of debtors seeking to acquire the company.

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Related Topix: Economics News

10 hrs ago | Business Journal

Delta hopeful about returning to S&P 500

Delta executives said they believe the company has "met every criteria" for re-inclusion in the Standard & Poor's 500 Index.

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Related Topix: Transportation, Delta Air Lines, Airlines, Economics News

14 hrs ago | St. Petersburg Times

Red Rose Inn, other Madonia properties, to be auctioned to pay off debt

The Red Rose Inn & Suites, once a favorite for business meetings, parties and weddings, will hit the auction block along with scores of other Madonia-family holdings during a series of auctions in late June and early July.

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Related Topix: Wedding, Florida, Economics News

18 hrs ago | ClickOnDetroit

DIA artwork could be sold off if city goes into bankruptcy

There are reports that the art collection of the Detroit Institute of arts could be in play to resolve the city's financial crisis.

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Related Topix: Economics News

Thu May 23, 2013

Detroit News

Orr: DIA collection at risk if city declares bankruptcy

The DIA has faced its own financial woes. It was just last August that voters in Wayne, Oakland and Macomb approved a 10-year, 0.1-mill tax levy to add about $23 million a year to support the museum's operations.

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Related Topix: Economics News

ABA Journal

Dewey's bankruptcy lawyer: More large law firms will fail

While failed law firms make for notoriously difficult bankrupty cases, Dewey & LeBoeuf's time in bankruptcy court was quicker and easier than other notable law firms.

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Related Topix: Economics News

Business Journal

Will Phillip Frost bid for TLO in bankruptcy?

Wealthy entrepreneur Phillip Frost has joined a new acquisition company making an appearance in the Chapter 11 bankruptcy procedure of Boca Raton data company TLO LLC.

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Related Topix: Economics News, Biotech, Opko Health

Telegram

New settlement includes Mount Cashel victims

A new settlement has been reached with the Catholic lay order, the Irish Christian Brothers, that affects some 160 victims of sexual abuse at the former Mount Cashel orphanage in St.

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Related Topix: Economics News

KRVN-AM Lexington

Borders Gift Card Holders Left with Squat

A judge ruled on Wednesday that customers who hold $210.5 million in gift cards from the defunct Borders chain aren't eligible for refunds.

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Related Topix: Economics News, Second Circuit Court of Appeals, US News, Barnes & Noble, Retail, Barnes and Noble

KSDK-TV Saint Louis

Tesla pays off its $451 million federal loan -- plus interest

Electric car maker Tesla Motors, in a move that is sure to buoy both the company and the Obama administration, announced Wednesday that it has paid off its entire federal loan.

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Related Topix: Tesla Motors, Startups, Economics News, Solyndra, Fisk, MO, Alternative Energy, Renewable Energy (Green Energy), Energy

KOCO-TV Oklahoma City

Chrysler jabs Tesla over loan repayment

Chrysler Group and Tesla Motors, run by two of the most outspoken CEOs in the auto industry, are trading zingers over the help each company received from the federal government.

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Related Topix: Chrysler Group, Tesla Motors, Startups, Department of Energy, Economics News

The Hartford Courant

Ally to pay $2.1 billion to settle ResCap litigation

Ally Financial Inc agreed to pay $2.1 billion to Residential Capital LLC to settle claims that it stripped the bankrupt mortgage subsidiary of choice assets.

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Related Topix: Economics News, Ansonia, CT

Myrtle Beach Online

Real estate Q&A: Son's ex-wife won't go along with a short sale

QUESTION: My husband and I co-signed a loan for our son and his now ex-wife. Our son stayed in the home but fell behind on the payments, and the home was in foreclosure.

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Related Topix: Foreclosures, Home, Mortgage, Personal Finance, Economics News, Business News

Foster's Daily Democrat

Judge OKs Lorraine Skaltsis' right to plead the `Fifth'

Judge Michael Deasy denied the motion to compel Lorraine Skaltsis to answer questions and stop pleading the Fifth Amendment during her bankruptcy case.

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Related Topix: Economics News

RecordNET

CalPERS blasts move by law firm

A law firm representing a Stockton creditor in bankruptcy is accused of playing dirty by raiding attorneys from an opposing firm that represents the California Public Employees' Retirement System.

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Related Topix: Economics News, Stockton, CA, California Public Employees Retirement System, Financial Services, Investment Services, Winston and Strawn, Law, Pension, Personal Finance, San Bernardino, CA

Wed May 22, 2013

Reuters

Borders gift card holders deserve nothing, judge rules

Borders owes nothing to holders of roughly $210.5 million of gift cards that had not been used by the time the bookstore chain shut down, a Manhattan federal judge ruled on Wednesday.

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Related Topix: Borders Group, Retail, Economics News

Autoblog

Official: A123 Systems, now B456, wins court approval to exit bankruptcy

It's official: A123 Systems Inc. is passing through its final phase. The bankrupt lithium ion battery maker, now going by the name B456 Systems Inc., has won court approval for its plan to exit bankruptcy that pays off creditors from proceeds gained by selling off virtually all of its assets.

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Related Topix: Economics News, Hybrid, Electric Vehicle

The Winnipeg Free Press

Japan's PM risks bankruptcy

Shinzo Abe, now six months into his second try at being prime minister of Japan, is a puzzling man.

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Related Topix: Economics News, Democratic Party (Japan), Liberal Democratic Party (Japan), Opinion, Travel

WFMZ

KidsPeace files for Chapter 11 bankruptcy protection

KidsPeace , a private charity that serves children with behavioral and mental health needs, filed for Chapter 11 bankruptcy protection on Tuesday.

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Related Topix: Economics News