Headlines

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Format: 12-20-2014
May 2, 2013
Pinnacle Airlines’ long-anticipated emergence from chapter 11 bankruptcy reorganization became official yesterday, according to the Minneapolis Star Tribune. The carrier, soon to be based in the Twin Cities, is now a subsidiary of Delta Air Lines. Since its bankruptcy filing 13 months ago, Memphis...
May 2, 2013
The developer of the Trump Ocean Club International Hotel & Tower in Panama on Tuesday filed for chapter 11 protection with a plan in hand to restructure, the Wall Street Journal reported yesterday. Newland International Properties Corp., a Panama-based company, licenses the Trump name but is...
May 2, 2013
Suntech Power Holdings Co. Ltd, whose main unit is in insolvency proceedings, said that it would delay filing full-year results for 2012 as it needs more time to restate its financial statements for the previous two years, Reuters reported yesterday. Suntech, which said revenue fell by an estimated...
May 2, 2013
CPI Corp., the troubled St. Louis-based operator of portrait studios, filed for bankruptcy yesterday, nearly a month after closing all its U.S. locations, the St. Louis Post-Dispatch reported today. In its chapter 7 bankruptcy filing in Delaware, where the company is incorporated, CPI listed $10.4...
May 2, 2013
Eastman Kodak Co. filed a chapter 11 plan that cratered the stock and bumped up the unsecured notes, although the plan may be revised to pay off second-lien debt fully in cash, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their video. Next,...
May 1, 2013
Stockton, Calif., the biggest U.S. city to have filed for bankruptcy, forecasts $840,000 more in revenue for the current fiscal year than its officials initially anticipated, one sign of how local revenues in California are picking up after several years of declines, Reuters reported yesterday. How...
May 1, 2013
Eastman Kodak Co. said yesterday that it expects to emerge from bankruptcy as soon as July as a commercial imaging business under the control of its creditors, Reuters reported yesterday. The company said in court documents that it expects to issue new stock with the majority of it going to its...
May 1, 2013
As of next year, former Dewey & LeBoeuf chairman Steven Davis—faulted by many both inside and outside the firm as the chief culprit in its collapse—is to begin chipping away at the $511,145 he has agreed to give the Dewey estate to help satisfy creditors under a broader settlement that protects...
May 1, 2013
Republic Airways Holdings said yesterday that it still plans to shed its Frontier unit by June or July, depending on whether a sales agreement is reached, Reuters reported yesterday. Indianapolis-based Republic, which operates regional carriers Republic Airlines and Chautauqua Airlines, has been...
May 1, 2013
U.S. electric car startup Coda Holdings Inc. filed for chapter 11 protection yesterday after selling just 100 of its all-electric sedans, Reuters reported yesterday. The bankruptcy filing will allow the Los Angeles-based company to exit the auto sector and refocus on energy storage, a far less...
May 1, 2013
Charles Schwab Corp., whose antitrust claims against banks over manipulation of the London interbank offered rate (Libor) were tossed from federal court in New York, sued Bank of America Corp. and other financial institutions for fraud in state court in San Francisco, Bloomberg News reported today...
May 1, 2013
Wall Street bankers and some of the world’s top finance ministers are waging a bitter international campaign to block financial regulators from extending their policing powers far beyond the nation’s shores, the New York Times reported today. The effort—centered on oversight of the $700 trillion...