Headlines

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Format: 01-30-2015
May 23, 2013
Japan's Elpida Memory Inc. asked a bankruptcy court yesterday to enforce its reorganization plan sale to Micron Technologies Inc., a final step to creating the world's second-largest maker of memory chips, Reuters reported yesterday. Boise, Idaho-based Micron has been losing money as the market for...
May 23, 2013
A team including former General Motors Co. executive Bob Lutz and China's largest parts maker is looking to buy Fisker Automotive for $20 million, a fraction of the "green" car company's estimated worth almost a year and a half ago, Reuters reported yesterday. VL Automotive, a venture between Lutz...
May 23, 2013
LyondellBasell Industries NV's board has raised the plastics and chemicals company's quarterly dividend by 25 percent and approved the repurchase of up to 10 percent of its stock over the next 12 months, moves expected to increase shareholder return, Dow Jones Daily Bankruptcy Review reported today...
May 23, 2013
AMF Bowling Worldwide Inc. and Ahern Rentals Inc. are prime examples of the frothy market where junk-bond investors are fearless in the face of risk, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their video. Rochelle says that more "covenant-lite"...
May 22, 2013
B456 Systems Inc., the lithium-ion battery maker which received a $249 million U.S. government grant, won court approval on Monday for its bankruptcy plan, Reuters reported yesterday. Bankruptcy Judge Kevin Carey approved the plan under which unsecured creditors of the company, formerly A123...
May 22, 2013
The bankrupt units of specialty chemicals maker RPM International Inc. may have to set aside twice as much money for asbestos-related liabilities as the company estimated, after a bankruptcy judge rejected what she called a "novel" theory from the debtor, Reuters reported yesterday. Bankruptcy...
May 22, 2013
House Financial Services Subcommittee on Oversight and Investigations will hold a hearing today at 2 p.m. ET titled “Who Is Too Big to Fail: Are Large Financial Institutions Immune from Federal Prosecution?” The witness at the hearing will be Mythili Raman, Acting Assistant Attorney General,...
May 22, 2013
Eighty-nine New York landowners who once agreed to let Norse Energy Corp. USA drill for natural gas on their property have filed a lawsuit against the struggling company, arguing that its executives have unfairly extended the life of their lease agreements using a legal clause meant for natural...
May 22, 2013
Revel, a brand new but struggling Atlantic City casino, has formally emerged from bankruptcy, the Associated Press reported yesterday. The pre-packaged chapter 11 filing wiped out $1.2 billion of the casino’s $1.5 billion in debt by giving lenders an 82 percent ownership stake. Revel posted a $149...
May 22, 2013
KidsPeace Corp., the owner of a nonprofit psychiatric hospital for teenagers in Pennsylvania, filed for bankruptcy, blaming government spending cuts for its financial woes, Bloomberg News reported yesterday. The company will try to use bankruptcy to reduce its bond debt to $24 million from $51.3...
May 22, 2013
Fannie Mae plans to sell $2 billion of commercial-mortgage bonds issued before the credit market seizure as it seeks to reduce holdings of illiquid assets, Bloomberg News reported yesterday. The government-controlled loan financier, which has returned to profitability after being taken over by U.S...
May 22, 2013
James Dimon tightened his grip on the nation's largest bank on Tuesday as shareholders of JPMorgan Chase & Co. overwhelmingly endorsed his dual role as chairman and chief executive, the Wall Street Journal reported today. A year after a multibillion-dollar trading fiasco tainted Dimon's...