Headlines

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Format: 10-31-2014
March 19, 2013
Prommis Holdings LLC, which provides processing services for defaults and foreclosures in the residential mortgage industry, sought chapter 11 protection from creditors yesterday, Bloomberg News reported. The Atlanta-based company listed debt of more than $50 million and assets of as much as $50...
March 19, 2013
Drug maker Affymax Inc. said that it may consider selling itself or filing for bankruptcy among a range of strategic alternatives as it struggles with the recent recall of its sole commercial product, the anemia drug Omontys, Reuters reported yesterday. Affymax also fired its chief commercial...
March 19, 2013
Executives in control of Edison International's Edison Mission Energy—its struggling wholesale-power unit that filed for bankruptcy in December—are still drafting an agreement that would transfer ownership of its more than 40 electricity-generating facilities to bondholders who extended $3.7...
March 19, 2013
Citigroup Inc. agreed to pay $730 million to settle claims that it misled investors in four dozen bond and preferred-stock offerings over more than two years, in the second-largest settlement of investor litigation tied to the financial crisis, the Wall Street Journal reported today. The agreement...
March 19, 2013
Federal prosecutors in California filed criminal charges against a former chief executive of CalPERS in connection with an alleged scheme to defraud money managers such as Apollo Global Management LLC, the Wall Street Journal reported today. The U.S. Attorney's Office in San Francisco indicted...
March 19, 2013
Suntech Power Holdings Co. Ltd. said yesterday that it was continuing talks with debtholders over a new repayment plan after the company defaulted on a $541 million bond payment, the Wall Street Journal reported today. The China-based solar-panel maker was scheduled to repay foreign investors for...
March 18, 2013
The U.S. Trustee Tracy Hope Davis has objected to American Airlines CEO Tom Horton's $19.8 million severance payment, arguing that the company has not explained why such a large sum is permissible under federal bankruptcy rules, the Fort Worth Star-Telegram reported yesterday. Horton's compensation...
March 18, 2013
When the U.S. Supreme Court hears arguments today in Bullock v. BankChampaign NA, a case over what constitutes defalcation by a bankruptcy trustee, it will have the students of Emory University School of Law to thank, Reuters reported today. The Emory Law School Supreme Court Advocacy Project,...
March 18, 2013
Detroit's credit outlook was raised to stable from negative by Standard & Poor’s after the governor named an emergency manager to run it, Bloomberg News reported on Friday. To lead the turnaround of the state’s largest city, Michigan Governor Rick Snyder yesterday chose Kevyn Orr, a Washington...
March 18, 2013
Directories publishers Dex One Corp. and SuperMedia Inc. have filed for bankruptcy after failing to win the full support of senior secured lenders for a change to a credit agreement that was needed to complete their planned merger, Reuters reported today. Dex One, formerly known as R.H. Donnelley...
March 18, 2013
Hostess Brands Inc. is defending the upcoming sales of its various bakery businesses against the objections of its bakers union and others, arguing that the deals are its only viable option, Dow Jones Daily Bankruptcy Review reported today. In a court filing on Thursday, Hostess said that four...
March 18, 2013
The a bankruptcy court may soon be overseeing what could be a legally dicey firesale—an apparent arsenal of Glock and Beretta handguns and other weapons, Reuters reported on Friday. Advanced Interactive Systems Inc. of Seattle, which owns shooting ranges and trains security professionals, filed for...