Headlines

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Format: 07-23-2014
June 18, 2014
The failed Tokyo-based bitcoin exchange, Mt. Gox, received court approval yesterday to begin chapter 15 proceedings in the U.S. as it awaits approval of a settlement with U.S. customers and a sale of its business, Reuters reported yesterday. Mt. Gox was once the world's leading exchange for trading...
June 18, 2014
Southborough, Mass.-based data center services provider GlassHouse Technologies, poised to go public just a few years ago, has filed for chapter 7 bankruptcy, the Boston Globe reported today. The filing comes two months after GlassHouse sold its consulting division to Phoenix-based Signature...
June 18, 2014
Seventeen months after Congress authorized up to $16 billion to fix homes wrecked by superstorm Sandy, tens of thousands of people still are living in damaged houses or paying rent on top of a mortgage as they wait for rebuilding help, the Wall Street Journal reported today. About 15,000 New York...
June 18, 2014
A Brooklyn prep school filed for chapter 11 bankruptcy on Monday, facing declining enrollment that it says stems from negative publicity about a 2008 foreclosure action, the Wall Street Journal reported today. Adelphi Academy of Brooklyn said that it filed for bankruptcy because it’s been unable to...
June 17, 2014
The U.S. Supreme Court handed Argentina a major setback in its long-running battle with a small group of determined creditors, heightening the risk the country will default for the second time in 13 years, the Wall Street Journal reported today. The justices yesterday rejected Argentina's appeal of...
June 17, 2014
General Motors Co. said that the engineer responsible for flawed ignitions linked to 13 deaths also oversaw switches in more than 3 million cars recalled yesterday, Bloomberg News reported yesterday. The recall covers seven different models and involved ignitions slipping out of the “run” position...
June 17, 2014
JPMorgan Chase & Co. engaged in a “pattern of discriminatory” lending that led to foreclosures, the city of Miami said in a lawsuit filed last week in federal court, the latest in a series of similar claims against the nation’s largest banks, Bloomberg News reported yesterday. Last month, Banco...
June 17, 2014
The Detroit City Council yesterday voted for the second time this month to endorse the transfer of art and other assets at the city-owned Detroit Institute of Arts to a charitable trust as part of a proposal to protect the art from being sold off in the city’s bankruptcy case, the Detroit Free...
June 17, 2014
The U.S. and North American units of PSL Ltd., an Indian steel-pipe maker for the oil and gas industry, sought bankruptcy protection with a plan to sell assets to Jindal Tubular USA LLC for about $100 million, Bloomberg News reported yesterday. PSL-North America LLC and PSL USA Inc., based in Bay...
June 17, 2014
Glacial Energy Holdings Inc., a privately held electric company that operates in more than 20 states, received a judge's approval Monday to move forward with a sale and settlement meant to ensure its chapter 11 case will proceed without delays or additional litigation, Dow Jones Daily Bankruptcy...
June 17, 2014
Aramid Entertainment Fund Ltd., a hedge fund specializing in financing movies, sought bankruptcy court protection from creditors to deal with the costs of suing borrowers who failed to repay loans, Bloomberg News reported yesterday. Aramid “has been embroiled in substantial and time-consuming...
June 17, 2014
The Quebec government said yesterday that it was seeking some C$409 million ($377 million) from Montreal, Maine and Atlantic, the insolvent rail operator at the center of the rail disaster in the town of Lac-Megantic last year, Reuters reported yesterday. The claim is the latest in a growing list...