Headlines

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Format: 09-17-2014
September 16, 2014
An auction for Oncor, the regulated distribution unit of bankrupt Texas power company Energy Future Holdings, could come in the first quarter of next year, as interest in the prized asset mounts, Reuters reported yesterday. Energy Future, which filed one of the 10 largest chapter 11 bankruptcies in...
September 16, 2014
NII Holdings Inc, the parent of Nextel operators in Latin America, filed for chapter 11 protection yesterday after struggling for years with debt, fierce competition in Brazil and Mexico, and a dispute with a U.S. hedge fund, Reuters reported yesterday. The decision should allow Reston, Va.-based...
September 16, 2014
Siga Technologies Inc. filed for chapter 11 protection today and said that the filing was to preserve its ability to supply its antiviral smallpox drug to the U.S. Strategic National Stockpile, Reuters reported today. Siga listed total assets of $209.5 million and liabilities of $197.9 million in...
September 16, 2014
U.S. Trustee Roberta DeAngelis said that a bankruptcy judge should reject a proposed sale of Education Training Corp.'s schools because the sale occurred prior to the company's chapter 11 filing and was designed to skirt federal regulations, Dow Jones Daily Bankruptcy Review reported today....
September 16, 2014
The bankrupt Revel casino hotel in Atlantic City will go to auction on Sept. 24, a judge ruled yesterday, after the only bidder clashed with creditors who wanted to slow the rushed sale, Reuters reported yesterday. Bankruptcy Judge Gloria Burns also set Sept. 23 as the deadline for competing bids...
September 16, 2014
A House committee investigating the National Highway Traffic Safety Administration has found that federal regulators had ample information to identify the dangerous ignition defect in General Motors’ Chevrolet Cobalt and other cars as early as 2007, the New York Times reported today. The House...
September 16, 2014
The California Public Employees’ Retirement System, the nation’s largest pension fund, will eliminate all of its hedge fund investments over the next year on concerns that the investments are too complicated and expensive, the New York Times reported today. The pension fund, which oversees $300...
September 16, 2014
The widow of “American Sniper” Chris Kyle is suing the Texas law-enforcement-training business he founded, saying that the company has been illegally using Kyle’s image to sell merchandise and training services, the Wall Street Journal reported today. In court papers, lawyers for Taya Kyle said...
September 16, 2014
Two affiliates of troubled Indianapolis-based developer HDG Mansur oppose requests to appoint a chapter 11 trustee or convert the case to a liquidation in chapter 7, saying that significant progress has been made toward a plan and global settlement of claims, the Indianapolis Business Journal...
September 15, 2014
With key players in Detroit's historic bankruptcy case locked in marathon mediation sessions, the pressure is on bond insurer Financial Guaranty Insurance Co., the last major holdout creditor, to settle with the city, Reuters reported on Friday. Judicial mediator Gerald Rosen has ordered the city...
September 15, 2014
The cost of Detroit's historic bankruptcy has reached $126 million and counting, surpassing the bills the big automakers faced when they were in similar straits, the Wall Street Journal reported on Saturday. An internal report on fees to outside advisers shows costs have roughly grown by four times...
September 15, 2014
RadioShack Corp. is considering a $585 million financing package led by hedge fund Standard General LP and investment bank UBS AG in an attempt to keep the struggling electronics retailer out of bankruptcy, the Wall Street Journal reported on Saturday. Under the plan, UBS will coordinate $325...