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  • Brazil slump sparks 30 pct jump in bankruptcy filings Wednesday, 3 Feb 2016 | 8:18 AM ET

    SAO PAULO, Feb 3- Requests for bankruptcy protection in Brazil grew 30 percent in January as the worst recession in decades and the highest borrowing costs in nine years kept hampering the ability of factories, retailers and other businesses to stay afloat, credit research company Serasa Experian said on Wednesday. January's 96 requests for court protection...

  • BALDWYN, Miss.— Fabric and sewing supply retailer Hancock Fabrics filed for Chapter 11 bankruptcy protection Tuesday, seeking to reorganize for the second time in nine years. The company, based in Baldwyn, Mississippi, made the filing Tuesday in U.S. Bankruptcy Court in Delaware, saying that revenues for the holiday retail season were $8 million below...

  • U.S. zinc producer Horsehead files for bankruptcy Tuesday, 2 Feb 2016 | 10:37 AM ET

    WILMINGTON, Del., Feb 2- Horsehead Holding Corp, a large U.S. zinc producer, filed for Chapter 11 bankruptcy on Tuesday due to a slump in metals prices and a shortage of cash. The Pittsburgh- based company is the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. Commodity prices have...

  • SAN FRANCISCO, Feb 1- The outlook is so bleak for a bankrupt biotechnology company briefly led by controversial investor Martin Shkreli that its management should be replaced by an independent trustee, a government bankruptcy watchdog argued on Monday. Trustee, an arm of the Justice Department that oversees bankruptcy administration, on Monday asked the U.S....

  • CHICAGO, Feb 1- Outer Harbor Terminal LLC filed for Chapter 11 bankruptcy protection on Monday, two weeks after terminating its lease held in a joint venture with Ports America. Last month, Ports America, one of the largest marine cargo operators in the country, said it was shifting its business from the Oakland port to other cities along the West Coast, including...

  • CHICAGO, Feb 1- Oakland's Outer Harbor Terminal filed for Chapter 11 protection on Monday, two weeks after one of its biggest tenants said it was terminating a 50- year lease with the northern California port. Last month, Ports America, one of the largest marine cargo operators in the country, said it was shifting its business from the Oakland port to other cities...

  • RCS Capital listed total assets of $2 billion and debts of $1 billion in its Chapter 11 filing in Delaware, court documents showed on Monday. Under the restructuring plan, lenders will inject $150 million into broker-dealer Cetera and ties to Schorsch will be cut by eliminating common shares and some $500 million in preferred stock, court documents showed.

  • NEW YORK— The company behind the Electric Zoo and Tomorrowland music festivals has filed for Chapter 11 bankruptcy protection. New York- based SFX Entertainment Inc. says, however, that its festivals and events will continue as planned. In the past year, SFX's chairman and CEO Robert Sillerman tried unsuccessfully to buy the company and take it private.

  • WILMINGTON, Del, Feb 1- SFX Entertainment Inc, a promoter of electronic dance music festivals, filed for Chapter 11 bankruptcy on Monday to cut $300 million of debt and seek fresh funding to pay artists and other key vendors. The company has pursued a global roll-up strategy, scooping up promoters and festivals such as Dayglow Productions, known for its paint...

  • Feb 1- RCS Capital Corp, a brokerage firm tied to real-estate investor Nicholas Schorsch, filed for Chapter 11 bankruptcy protection to reduce debt and as per the plan its key lenders will assume control of the company. The company listed total assets of $1.98 billion and debts of $1.39 billion, on a consolidated basis, in its bankruptcy filing.

  • Brokerage firm RCS Capital files for bankruptcy Sunday, 31 Jan 2016 | 11:42 PM ET

    Jan 31- RCS Capital Corp, a brokerage firm tied to real-estate investor Nicholas Schorsch, filed for Chapter 11 bankruptcy protection to reduce debt and as per the plan, its key lenders will assume control of the company. The company listed total assets of $1.98 billion and debts of $1.39 billion, on a consolidated basis, in its bankruptcy filing.

  • *Caesars wants a decision before a March trial in New York. CHICAGO, Jan 29- The bankrupt operating unit of Caesars Entertainment Corp will soon ask a U.S. judge to shield its parent from $12 billion of lawsuits to facilitate a debt-cutting rescue deal, but approval could set a bad precedent for creditors. Hedge fund bondholders have sued Caesars in New York and...

  • Circuit City is making a comeback Friday, 29 Jan 2016 | 6:00 AM ET
    Circuit City is making a comeback

    The electronics company is returning to the retail business after peer Radioshack filed for bankruptcy.

  • Texas tycoon Wyly urges U.S. judge to reject IRS tax case Wednesday, 27 Jan 2016 | 5:24 PM ET

    DALLAS, Jan 27- A lawyer for Texas tycoon Sam Wyly argued on Wednesday that the Internal Revenue Service had failed at trial to prove the businessman used offshore trusts to engage in a massive tax fraud. Don Lan, a lawyer for Sam Wyly and the widow of his brother Charles, Caroline Wyly, said during closing arguments in a trial in federal bankruptcy court in Dallas...

  • CHICAGO, Jan 27- The Chicago Public Schools postponed Wednesday's planned $875 million bond sale that became tainted by bankruptcy talk for the financially ailing district. Carole Brown, the city of Chicago's chief financial officer, said the delay will give investors more time to evaluate the district's credit and the structure and terms of the "junk"- rated...

  • WILMINGTON, Del, Jan 26- Verso Corp, a leading U.S. producer of printing and specialty papers, filed for Chapter 11 bankruptcy on Tuesday to cut its debt as demand for its products has waned with the growth of electronic media and cheaper imports. The company said the bankruptcy would have virtually no impact on its daily operations, and it is seeking to borrow up to...

  • Leading U.S. paper company Verso files for bankruptcy Tuesday, 26 Jan 2016 | 10:42 AM ET

    WILMINGTON, Del, Jan 26- Verso Corp, a leading U.S. producer of printing and specialty papers, filed for Chapter 11 bankruptcy on Tuesday to cut its debt in the face of falling demand for catalogs and magazines and cheaper imports. Verso, which is controlled by private equity firm Apollo Global Management, plans to seek approval for a plan that would shed $2.4 billion...

  • Alpha laying off nearly 900 at West Virginia mines Monday, 25 Jan 2016 | 5:37 PM ET

    CHARLESTON, W.Va.— Bankrupt coal producer Alpha Natural Resources announced Monday it plans to lay off 831 miners and dozens more support staff at eight underground mines and two processing plants in southern West Virginia as a result of the industry's downturn. The announcement includes 468 miners and 40 support staff at five underground mines at Marfork...

  • Ousted CEO fails in American Apparel takeover bid Monday, 25 Jan 2016 | 12:56 PM ET
    he American Apparel logo is displayed outside of a store on October 5, 2015 in New York City. American Apparel has filed for Chapter 11 bankruptcy protection nearly a year after the ousting of founder and CEO Dov Charney. In its latest quarter, the youth driven clothing company reported a loss of $19.4 million.

    American Apparel will exit bankruptcy after a judge rejected a takeover attempt from ousted chief executive, Dov Charney.

  • NEW YORK, Jan 22- The Association of Financial Guaranty Insurers said on Friday that granting bankruptcy protections to the government of Puerto Rico, which is struggling to pay its debts, would jeopardize its ability to reach a consensual debt restructuring. While pointing out that Lew did not explicitly join Puerto Rico's call for bankruptcy protection,...