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Format: 09-01-2014
August 29, 2014
The U.S. bankruptcy court judge in the Detroit bankruptcy case yesterday removed allegations made by one of Detroit's remaining holdout creditors against mediators in the city's municipal bankruptcy case, Reuters reported today. Hon. Steven Rhodes chastised Syncora Guarantee Inc. for claiming in an...
August 29, 2014
Detroit won a commitment from Barclays Plc for $275 million in financing to fund the city’s exit from its landmark bankruptcy if a judge approves its debt-cutting plans at a trial slated to start next week, Bloomberg reported yesterday. Detroit is seeking court approval to eliminate more than $7...
August 29, 2014
Some senior lenders to Apollo Global Management LLC’s Momentive Performance Materials Inc. said that they want to change their vote on the chemical company’s bankruptcy plan to “yes” so that they can collect a cash payment, Bloomberg reported yesterday. Momentive Performance had offered the senior...
August 29, 2014
The U.S. systemic risk council will meet on Sept. 4 to discuss naming nonbank financial firms for tougher regulatory oversight, the U.S. Treasury Department said, Reuters reported yesterday. The Financial Stability Oversight Council (FSOC) appears close to deciding whether it believes that insurer...
August 29, 2014
A decade of records from four U.S. appeals courts and one bankruptcy court were lost earlier this month when the Public Access to Court Electronic Records (PACER) quietly deleted a massive amount of data that was "incompatible" with an impending upgrade, CommonDreams.com reported yesterday. The...
August 29, 2014
Troubled Caesars Entertainment, America’s largest casino chain, is in talks with its senior creditors to restructure it massive debt load, the New York Post reported yesterday. The talks are likely aimed at reaching a deal that would give the senior debt-holders positions in the two newly created...
August 29, 2014
Troubled electronics retail chain RadioShack is racing against the clock as it weighs its options, including a refinancing or a bankruptcy, TheStreet.com reported yesterday. It is burning through cash rapidly as it is unable to close money-losing locations. RadioShack planned to close up to 1,100...
August 29, 2014
Crunchies Food Co. LLC has filed for chapter 11 in response to what it said was a small group of investor-creditors taking hostile and aggressive actions, the San Fernando Valley Business Journal reported yesterday. The Westlake Village, Calif., freeze-dried snack food company said that it will...
August 29, 2014
An energy company has resumed production at an ethanol plant in Indiana along the Ohio River that was shut down more than two years ago by its previous owner, The Associated Press reported yesterday. Valero Renewable Fuels said that the plant at the Port of Indiana-Mount Vernon was operating with...
August 29, 2014
After years of enrollment losses, Anthem Education, a for-profit chain of colleges and career institutes, filed for bankruptcy on Monday, InsideHigherEd.com reported today. The company has abruptly shut down a number of its campuses, leaving state agencies struggling to funnel displaced students...
August 29, 2014
Robert Benmosche, the chief executive of insurance giant AIG, said he is stepping down this weekend after learning he has less than a year to live, the New York Post reported yesterday. Benmosche, who was diagnosed with cancer in 2010, said that he was given nine to 12 months to live in May and is...
August 28, 2014
A ruling Tuesday by U.S. Bankruptcy Court Judge Robert Drain in the case of Momentive Performance Materials Inc. has shaken up the distressed investing world, Dow Jones Daily Bankruptcy Review reported yesterday. Momentive’s bankruptcy pits its owner, private-equity firm Apollo Global Management...

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