Headlines

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Format: 09-30-2014
September 15, 2014
With key players in Detroit's historic bankruptcy case locked in marathon mediation sessions, the pressure is on bond insurer Financial Guaranty Insurance Co., the last major holdout creditor, to settle with the city, Reuters reported on Friday. Judicial mediator Gerald Rosen has ordered the city...
September 15, 2014
The cost of Detroit's historic bankruptcy has reached $126 million and counting, surpassing the bills the big automakers faced when they were in similar straits, the Wall Street Journal reported on Saturday. An internal report on fees to outside advisers shows costs have roughly grown by four times...
September 15, 2014
RadioShack Corp. is considering a $585 million financing package led by hedge fund Standard General LP and investment bank UBS AG in an attempt to keep the struggling electronics retailer out of bankruptcy, the Wall Street Journal reported on Saturday. Under the plan, UBS will coordinate $325...
September 15, 2014
Apollo Global Management LLC’s Momentive Performance Materials Inc. won court approval of its bankruptcy plan that cuts debt to less than $1.3 billion from $4 billion, Bloomberg News reported on Friday. Bankruptcy Judge Robert Drain signed the confirmation order on Thursday after saying earlier in...
September 15, 2014
It has been six years since Lehman Brothers Holdings Inc. collapsed, plunging the global economy into chaos, but the work of unwinding the largest bankruptcy in U.S. history still isn't finished, the Wall Street Journal reported today. The professionals unraveling the failed investment bank now...
September 15, 2014
U.S. regulators trying to force banks to maintain enough capital to survive a severe economic shock have signaled a shift in the tools they’re using to achieve that goal, Bloomberg News reported today. For months, banks have expected the overriding mandate from regulators to be a so-called leverage...
September 15, 2014
Ally Financial Inc. came one step closer to exiting the U.S. government's crisis-era bailout plan after the Treasury Department on Friday said that it had further pared its stake in the auto lender, the Wall Street Journal reported on Saturday. Treasury, which has kicked off the second stage of its...
September 15, 2014
Philip Falcone's Harbinger Capital Partners filed a new restructuring proposal for the smaller pool of LightSquared 's assets, a plan that includes financing from JPMorgan Chase & Co., Dow Jones Daily Bankruptcy Review reported today. In a Thursday court filing, Harbinger offered more specific...
September 12, 2014
A federal judge yesterday ordered ongoing mediation in Detroit's historic bankruptcy over a potential settlement between the city and one of its fiercest creditors, and added holdout creditor Financial Guaranty Insurance Co. to the list of parties whose attendance is required, Reuters reported...
September 12, 2014
The city of San Bernardino, Calif., may impose cuts to its firefighters’ overtime and pension benefits in a bid to reach a bankruptcy exit plan, the federal judge overseeing the case said yesterday, according to Reuters. In a tentative ruling, U.S. Bankruptcy Judge Meredith Jury said that San...
September 12, 2014
Lehman Brothers Holdings Inc. said yesterday that it has agreed to sell $2.5 billion in bankruptcy claims that the failed investment bank holds against its U.S. brokerage arm, the Wall Street Journal reported yesterday. The claims will be sold for $619 million, or about 24.8 percent of face value....
September 12, 2014
The company that runs the Indiana Toll Road is weighing a possible bankruptcy filing in the coming weeks as it works to cut its roughly $6 billion debt load and shop the road to potential buyers, the Wall Street Journal reported yesterday. The company, controlled by units of Spanish infrastructure...