Bankruptcy News

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.

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

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

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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

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