Headlines

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Format: 10-02-2014
October 2, 2014
The judge presiding over the Stockton, Calif., bankruptcy case said yesterday that he will wait until late October to make a final ruling over whether the city can exit bankruptcy, Reuters reported today. Bankruptcy Judge Christopher Klein said that he was "not in a position to make a decision...
October 2, 2014
Kevyn Orr, the emergency manager shepherding Detroit through its record municipal bankruptcy, told a judge about the tough situation Michigan’s biggest city faced when he was asked to help get its house back in order, Bloomberg News reported yesterday. Core services were “substandard” and finances...
October 2, 2014
A federal judge has ruled that a group of sewer customers can continue their appeal of Jefferson County's bankruptcy exit plan and says that she legally could scrap the schedule for future sewer rate increases called for under that plan, the Birmingham (Ala.) News reported today. U.S. District...
October 2, 2014
Argentina's central bank chief resigned yesterday after a long tussle with the economy minister and was replaced with a regulator seen as sympathetic to the interventionist stance of a government fighting one of the world's highest inflation rates, Reuters reported yesterday. Juan Carlos Fabrega...
October 2, 2014
A judge yesterday approved a payout to MF Global's unsecured creditors, who have waited nearly three years as customers of the collapsed brokerage already had their money returned, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Martin Glenn said James W. Giddens, the trustee in...
October 2, 2014
The heads of Goldman Sachs Group Inc. and JPMorgan Chase & Co. told federal regulators days ahead of the 2008 government bailout of American International Group Inc. that they were putting together a private rescue of the insurance giant, a New York Fed lawyer testified, Bloomberg News reported...
October 2, 2014
Trump Entertainment Resorts Inc.’s restructuring plan hinges on billionaire Carl Icahn’s lender affiliates investing as much as $100 million and taking control of the company — if the Atlantic City, N.J., casino operator can get union concessions and tax breaks, Bloomberg News reported today. The...
October 2, 2014
Companies in the Standard & Poor’s 500 Index are currently the healthiest in decades, with the lowest net debt to earnings ratio in at least 24 years, $3.59 trillion in cash and marketable securities, and record earnings per share, Bloomberg News reported today. They are headed this year toward...
October 2, 2014
Now that the case on BNP Paribas has closed, Justice Department senior prosecutor David A. O’Neil is planning to depart the government at the end of the week, New York Times reported yesterday. BNP, France’s biggest bank, was scrambling to avoid a criminal charge for doing business with countries...
October 1, 2014
A Detroit consultant said yesterday that the city should be able to access capital markets and borrow at a rate of around 5 percent after it exits bankruptcy, as long as its tax revenue remains stable, Reuters reported yesterday. But even as Kenneth Buckfire, president of restructuring firm Miller...
October 1, 2014
Deputy Treasury Secretary Sarah Bloom Raskin said in a speech on Monday that while student loan debt totals a record $1.2 trillion, the rampant growth could slow as the strengthening economy reduces the number of new loans, CollectionsCreditRisk.com reported today. "Total federal originations have...
October 1, 2014
Debt collectors scored a major victory on Monday when the Eleventh Circuit Court of Appeals voted 3-0 to reverse a district court ruling in the case of Gulf Coast Collection Bureau Inc. v. Mais, CollectionsCreditRisk.com reported yesterday. The case involved plaintiff Mark Mais, who was treated in...