Headlines

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Format: 09-18-2014
August 13, 2014
One of Detroit’s chief remaining adversaries in bankruptcy said that the city’s exit strategy was tainted by what it called the biases of its chief mediator, the New York Times DealBook blog reported yesterday. Syncora Guarantee, a bond insurer, said in a court filing yesterday that instead of...
August 13, 2014
The bankrupt city of Stockton, Calif., on Friday submitted a revised plan to exit chapter 9 that reflects the judge's ruling over the value of a holdout creditor's collateral, but a larger question still looms over whether public pensions will be cut, Reuters reported yesterday. The Northern...
August 13, 2014
Banks are pressing U.S. policymakers for a multiyear delay of a rule requiring them to sell investments in private-equity and venture-capital funds, the latest industry push to scale back a central provision of the 2010 Dodd-Frank law, the Wall Street Journal reported today. Bank officials, trade...
August 13, 2014
Atlantic City's Revel Casino Hotel said that it will shut down next month after failing to find a buyer in bankruptcy court, the Associated Press reported yesterday. The company said that it will close its doors on Sept. 10. The move comes two years after the $2.4 billion casino opened, and the...
August 13, 2014
The Securities and Exchange Commission has launched a broad examination of alternative mutual funds, kicking off regulatory scrutiny of one of the hottest and most controversial investment products to be offered to small investors, the Wall Street Journal reported today. The so-called funds "sweep...
August 13, 2014
GSE Environmental Inc. said on Monday that it had emerged from chapter 11 bankruptcy following the approval of its reorganization plan, the Houston Business Journal reported today. The U.S. Bankruptcy Court in Delaware approved the company's reorganization plan July 25. During its restructuring,...
August 13, 2014
Massachusetts-based Ambient Corp., which has struggled to sell its "smart grid" technology to power companies, will be up for sale at a Sept. 24 auction, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Kevin Gross set a Sept. 22 bid deadline for buyers who want to challenge the...
August 13, 2014
Argentina’s lowest-priced bonds are holding up the best following the country’s default last month, Bloomberg News reported yesterday. The South American nation’s notes maturing in 2038, known as Par bonds, have lost 6.5 percent to 52.88 cents on the dollar since the government was blocked from...
August 13, 2014
Cash-strapped South Korean mobile-phone maker Pantech Co. filed for court receivership yesterday after its latest flagship smartphone failed to take off, the Wall Street Journal reported today. The company, in which Qualcomm Inc. and Samsung Electronics Co. are major foreign shareholders, has been...
August 12, 2014
Philip Falcone’s LightSquared Inc., the bankrupt wireless company, is again the subject of competing plans over how to reorganize its business, with a potential hearing in October to confirm a final plan, Bloomberg News reported yesterday. Bankruptcy Judge Shelley Chapman said yesterday that she...
August 12, 2014
The U.S. Securities and Exchange Commission charged Kansas with failing to disclose a “multibillion-dollar” pension liability to bond investors, Bloomberg News reported yesterday. Documents for eight bond offerings in 2009 and 2010 by the state’s Development Finance Authority didn’t tell investors...
August 12, 2014
Lawyers for General Motors Co. customers are jostling to lead lawsuits over faulty ignition switches, Bloomberg News reported yesterday. Car owners suing over the lost value of recalled vehicles have yet to learn whether they can claim $10 billion, a few hundred thousand dollars, or nothing. That...