Headlines

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Format: 09-21-2014
February 13, 2013
No rival bidders stepped forward to make an offer on Journal Register Co.'s assets, leading the publisher to cancel a planned auction and seek approval of a transaction, valued at $122.2 million, with its hedge fund owner, Dow Jones DBR Small Cap reported today. The company behind local newspapers...
February 13, 2013
Lehman Brothers Holdings Inc. has agreed to sell 237 Park Avenue, a 21-story Midtown Manhattan office building, to RXR Realty and Walton Street Capital LLC, Reuters reported yesterday. The purchase price is $820 million and the pending sale comes just months after Lehman agreed to sell its biggest...
February 13, 2013
A judge has confirmed the reorganization plan for the oldest junior college in Texas, the Associated Press reported yesterday. Lon Morris College, a two-year Methodist college in the East Texas town of Jacksonville, filed for bankruptcy and suspended classes last year. The campus was sold at...
February 13, 2013
Schmidt's Bakery and Delicatessen filed for chapter 7 bankruptcy, listing just over $44,000 in assets against more than $814,000 in liabilities that include tax deficiencies for state sales and wage withholding taxes, and $190,000 in federal payroll tax withholdings that the Internal Revenue...
February 12, 2013
The American Bar Association adopted a resolution yesterday supporting the position that bankruptcy judges can, in certain circumstances, adjudicate core proceedings that go beyond a court's constitutional authority, in a response to confusion over the U.S. Supreme Court's landmark Stern v....
February 12, 2013
The Archdiocese of Milwaukee's bankruptcy is at risk of becoming the first of its kind in the nation to fail to compensate sex abuse victims equitably, creditors say in a court filing this week, the Milwaukee Journal Sentinel reported yesterday. If the archdiocese is as broke as it said it was in a...
February 12, 2013
Michigan Governor Rick Snyder (R) said yesterday that he has not offered the job of emergency financial manager of Detroit to anyone but does have a "short list" of candidates if he decides that the state should take over management of the city, Reuters reported yesterday. The city of about 700,000...
February 12, 2013
Hostess Brands Inc. won bankruptcy court approval to hold auctions for brands including Wonder Bread, Twinkies and Drake's, Bloomberg News reported yesterday. Bankruptcy Judge Robert Drain yesterday approved Flowers Foods Inc., McKee Foods Corp., United States Bakery Inc., Apollo Global Management...
February 12, 2013
An expected merger agreement this week between AMR Corp.'s American Airlines and US Airways Group Inc. could end the latest chapter on airline consolidation that has helped to stabilize an industry troubled for decades, the Wall Street Journal reported today. The $10 billion-plus deal would follow...
February 12, 2013
The award-winning visual-effects company Rhythm & Hues, considered one of the industry's leaders, is laying off 200 employees as it files for bankruptcy protection, the Los Angeles Times reported today. The studio, which worked on Ang Lee's "Life of Pi," nominated for a visual-effects Oscar,...
February 12, 2013
U.S. regulators are widening their probe of global interest-rate-rigging by scrutinizing what they claim is a pivotal role of two U.K. brokerage firms in the scandal, the Wall Street Journal reported today. The Justice Department and Commodity Futures Trading Commission are examining ICAP PLC and R...
February 12, 2013
The Maloofs have given a bankruptcy trustee some of the documents regarding the sale of the Sacramento Kings to a Seattle group, the Sacramento Bee reported yesterday. The documents could figure in the trustee's assertion that the Maloofs may be improperly denying the team's limited partners a...