Headlines

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Format: 11-23-2014
April 9, 2013
Creditors of bankrupt San Bernardino, Calif., including America's biggest pension fund and Wall Street bondholders, are due to meet in court today in a case bogged down in arguments over the city's disclosure of financial records, Reuters reported yesterday. The slow progress in San Bernardino's...
April 9, 2013
Ambac Financial Group Inc. yesterday said that it has reached a $101.9 million settlement of a dispute with the Internal Revenue Service, a key step in the bond insurer's efforts to emerge from bankruptcy, Reuters reported yesterday. The settlement calls for $1.9 million to be paid by Ambac, and...
April 9, 2013
Fisker Automotive could file for bankruptcy protection as soon as this week as the U.S. Department of Energy starts pressuring the green-car startup to pay back nearly $200 million in government loans, Reuters reported yesterday. The DOE appears to be pushing for a chapter 11 filing soon by Fisker...
April 9, 2013
Rotech Healthcare Inc., a provider of home respiratory products, has filed for bankruptcy, saying that its plan to cut its debt by about half and to reorganize is supported by a majority of its noteholders, Bloomberg News reported yesterday. Under the proposed reorganization plan, the company’s...
April 9, 2013
A variety of creditors that do not have a direct stake in the outcome of Patriot Coal Corp.'s bid to shed its union obligations in bankruptcy won court permission to have their voices heard during an upcoming labor trial, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Kathy A....
April 9, 2013
The Senate yesterday confirmed Mary Jo White to head the Securities and Exchange Commission, and she could be behind her desk at the agency as early today, the Washington Post reported today. The Senate approved White by unanimous consent, signaling that because she had strong bipartisan support,...
April 9, 2013
The American International Group already ruled out suing the federal government over its bailout during the financial crisis, and now it is asking a federal judge to stop its former chief executive from suing in its name, the New York Times DealBook blog reported yesterday. The insurer has formally...
April 9, 2013
The Commodity Futures Trading Commission has issued subpoenas to ICAP Plc brokers and as many as 15 Wall Street banks as part of an investigation into possible price manipulation of benchmark interest-rate swaps, Bloomberg News reported yesterday. The CFTC plans to interview about a dozen current...
April 9, 2013
Lehman Brothers Holdings Inc. has asked a bankruptcy judge to reject a "grossly inflated" proposed settlement that its former brokerage agreed upon with a Lehman subsidiary in Germany, Reuters reported yesterday. The proposed settlement would give Lehman Brothers Bankhaus AG a low-priority, $600...
April 8, 2013
MF Global on Friday won court approval of a plan to liquidate its assets, pay back creditors and end the $40 billion bankruptcy that rocked the financial world in 2011, Reuters reported on Friday. The commodities brokerage, run by former New Jersey Governor Jon Corzine, collapsed after investors...
April 8, 2013
Two years into Chapter 11 proceedings, the trustee for Howrey—the Washington, D.C.-based law firm that dissolved and entered bankruptcy in 2011—has reached a settlement with one of Howrey's insurance carriers, and is continuing to negotiate with 50 other law firms in an effort to recover millions...
April 8, 2013
Fisker Automotive, the struggling government-backed hybrid sports car maker, on Friday terminated most of its rank-and-file employees in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing, Reuters reported on Friday. Fisker, which raised $1.2...