Kodak gets one year to reorganize under bankruptcy protection
Last week American photography pioneers Kodak declared Chapter 11 bankruptcy after they ran into a cash shortage.
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Bankrupt Solyndra asks judge to approve employee bonuses
When California solar company went bankrupt after taking a $535 loan guarantee from the U.S Department of Energy taxpayers were shocked and outraged.
Sports Agent who inspired the film Jerry McGuire has filed for bankruptcy
Steinberg has battled alcoholism for years, but has been sober since 2010. He told the Associated Press that he takes responsibility for his millions of dollars in debt. He also said he lost control of his finances while he was in rehab.
Bankruptcy judge approves settlement between Fox and Dodgers
With the Fox matter settled, the Dodgers can continue to look for a buyer and maximize the value of the team. Several buyers have expressed interest and their bids are due by January 23rd.
NY Mets hires bankruptcy consulting group
The NY Mets announced Thursday that they hired CRG Partners, a firm who assisted the Texas Rangers with their bankruptcy in 2010. In the announcement the Mets stated the turnaround and bankruptcy firm was hired to provide “services in connection ...
Kodak Rumored to be on the Verge of Bankruptcy
Kodak is an American business icon, but the company has fallen into hard times and The Wall Street Journal has reported the company is close to filing for bankruptcy protection.
Rapper Young Buck may lose name and other assets in bankruptcy
A bankruptcy judge in Tennessee has decided to switch rapper Young Buck’s Chapter 11 filing to liquidation, and as a result he may lose one of his biggest assets, his name.
Bankruptcy Judge Allows American Airlines to Purchase New Planes
A judge has said that AMR Corp. can go ahead with their planned purchase of Boeing aircraft despite the fact they are in bankruptcy. Like many airlines, which struggled for survival after 9/11, AMR Corp. the parent company of American Airlines ha ...
Delta Petroleum Corp Files for Bankruptcy Reorganization
Delta Petroleum Corp. has filed for Chapter 11 bankruptcy protection after failing to find a buyer because of troubled assets. Delta Petroleum’s production is primarily natural gas and has been affected by the decline in gas prices and growing de ...
Lee Enterprises Newspaper Group Files for Bankruptcy Protection
Lee Enterprises Inc., which publishes 48 different daily newspapers, has filed for Chapter 11 bankruptcy protection in the effort to unload debt amid dwindling paper sales.
Jon Corzine speaks to Congress about MF Global bankruptcy and missing funds
MF Global sought out a bankruptcy attorney after investments into European debt led to a collapse of the firm. After filing for bankruptcy, trustees discovered that billions of dollars were missing from customer accounts. Corzine told the House C ...
Groupon Deal Pushes Bakery to the Brink of Bankruptcy
A bakery in the UK decided to run a Groupon coupon to draw more customers to their small bakery. Instead of being a boom to their business their deal with Groupon brought them to the brink of bankruptcy. Rachel Brown who runs the Need a Cake bake ...
American Airline Stock Drops Leading to Bankruptcy Speculations
Stock prices for American Airlines slipped today after the company failed to make progress in negotiations with pilot unions. According to Fitch Ratings, the long deadlock with pilot’s labor contracts could put American Airlines into Chapter 11 b ...
MF Global Clients Challenge JP Morgan Tactics in Bankruptcy
Former clients of MF Global are alleging that JP Morgan is side stepping their rights in the debt recovery process of the investment firm’s bankruptcy, according to the New York Post. JP Morgan gave MF an $8 million loan the day they declared ban ...