Headlines

Please note that in order to view the content for the Bankruptcy Headlines or the Bankruptcy Brief Newsletter you must either Login if you are already an ABI member, or otherwise you may Join ABI
Format: 04-23-2014
April 8, 2014
James River Coal Co. filed for chapter 11 bankruptcy protection after struggling with a steep drop in prices and demand for both thermal and steel-making coal, Reuters reported yesterday. The company also said that it would enter into a $110 million debtor-in-possession financing facility with...
April 8, 2014
Sbarro Inc., the 800-restaurant U.S. pizza chain in bankruptcy, has seen signs of interest from 31 potential bidders ahead of an auction for which it seeks initial offers by April 14, Bloomberg News reported yesterday. Of 114 possible buyers contacted, 31 signed confidentiality agreements to learn...
April 8, 2014
The former maker of Broyhill, Lane and Thomasville furniture struck a deal to trim more than $340 million in pension liabilities, Dow Jones Daily Bankruptcy Review reported today. The former Furniture Brands International Inc., which last fall sold its assets to buyout firm KPS Capital Partners LP...
April 8, 2014
Overseas Shipholding Group Inc. won court permission to sign a deal with its lenders that would raise $300 million from a share sale as part of the company’s plan to exit bankruptcy, Bloomberg News reported yesterday. Overseas would use the money raised by the sale to keep part of its fleet of...
April 8, 2014
Speech-technology company DynaVox Inc. and two affiliates have filed for chapter 11 protection in a bid to put the brakes on a move by secured lenders, the Wall Street Journal reported today. The company is grappling with restructuring its assets and debts estimated at between $10 million and $50...
April 8, 2014
Puerto Rico’s fiscal agent has hired another well-known restructuring law firm, raising the specter that the financially troubled island is preparing to revamp its finances, the New York Times DealBook blog reported yesterday. The Government Development Bank for Puerto Rico, which oversees all of...
April 8, 2014
The Senate voted yesterday to restore emergency financial benefits for the long-term unemployed, the first in a series of moves planned by both parties in coming weeks to court core voters this fall, the Wall Street Journal reported today. The jobless-aid bill — which passed on a bipartisan 59-38...
April 7, 2014
General Motors Co. executives huddled last week with newly hired adviser Kenneth Feinberg to consider potential ways to compensate victims of an ignition-switch defect linked to at least 13 deaths, the Wall Street Journal reported today. The answer is far from straightforward as GM was allowed to...
April 7, 2014
The Archdiocese of Milwaukee's reorganization plan for exiting its bankruptcy is "morally repugnant," not in the best interest of its creditors and should be rejected by creditors and the court, a committee representing clergy sex abuse victims and other creditors said in a bankruptcy court filing...
April 7, 2014
Dish Network Corp. Chairman Charles Ergen, the largest creditor of bankrupt wireless company LightSquared, is seeking permission to sue Phil Falcone, the investor whose Harbinger Capital fund controls LightSquared, Reuters reported on Friday. In a court filing on Friday, Ergen asked the judge...
April 7, 2014
Leaders of the bankrupt city of Detroit say that several bond investors and an insurer don't have the right to step into a fight that could make $1.4 billion of borrowed money — including their investments — disappear from the city's debt, Dow Jones Daily Bankruptcy Review reported today. In court...
April 7, 2014
Genco Shipping & Trading Ltd. will cut its debt by more than $1 billion by giving control of the company to its lenders in a deal that requires the dry bulk shipping company to file for bankruptcy, Reuters reported on Friday. Lenders backing a $1.06 billion credit facility would convert their...