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  • DALLAS, Jan 6- Texas tycoon Sam Wyly engaged in "lies, deception and fraud" in a years-long scheme to dodge taxes on $1.1 billion held in offshore trusts, a lawyer for the Internal Revenue Service said on Wednesday. The IRS made those claims at the start of a trial in federal bankruptcy court in Dallas in which the agency is seeking $3.22 billion in back taxes, penalties...

  • Are these Redskins the NFL's cheapest players? Wednesday, 6 Jan 2016 | 12:35 PM ET
    Washington Redskins running back Alfred Morris runs against Dallas Cowboys cornerback Brandon Carr at AT&T Stadium last Sunday.

    A group of Washington Redskin players have gained notice for living really inexpensively even as they earn big bucks on the field.

  • WILMINGTON, Del., Jan 5- Swift Energy Co received U.S. bankruptcy court approval on Tuesday to borrow up to $15 million, giving the oil-and-gas exploration company time to negotiate a refinancing deal that is key to its turnaround. "We need to try to minimize Chapter 11 time and expense as much as possible," said Gregory Gordon, a Jones Day attorney who represents Swift,...

  • Dec 30- KaloBios Pharmaceuticals Inc, a biotechnology company that fired Chief Executive Martin Shkreli earlier this month after his arrest on charges of securities fraud, filed for Chapter 11 bankruptcy on Tuesday. Shkreli gained notoriety when, as the chief executive of Turing Pharmaceuticals, he raised the price of a drug used to treat a dangerous...

  • UPDATE 1-KaloBios Pharmaceuticals files for bankruptcy Wednesday, 30 Dec 2015 | 10:27 AM ET

    Dec 30- KaloBios Pharmaceuticals Inc, which fired chief executive Martin Shkreli earlier this month, filed for Chapter 11 bankruptcy on Tuesday. The drugmaker listed both its assets and liabilities in the range of $1 million to $10 million in its filing with the U.S. bankruptcy court for the District of Delaware. Martin Shkreli gained notoriety when, as the chief...

  • Kudlow: Let Martin Shkreli rot Wednesday, 30 Dec 2015 | 8:31 AM ET
    Kudlow: Let Martin Shkreli rot

    This is an example of capitalism gone amok and he ought to go to jail, says CNBC Contributor Larry Kudlow talking about the former KaloBios CEO as the company files for bankruptcy.

  • KaloBios is filing for bankruptcy Wednesday, 30 Dec 2015 | 8:00 AM ET
    KaloBios is filing for bankruptcy

    The decision follows Kalobios' appeal of the Nasdaq's decision To delist shares.

  • Martin Shkreli's KaloBios files for bankruptcy Wednesday, 30 Dec 2015 | 6:13 AM ET
    Martin Shkreli departs U.S. Federal Court after an arraignment and his being charged on a federal indictment filed in Brooklyn on Dec. 17, 2015.

    KaloBios Pharmaceuticals, which fired chief executive Martin Shkreli earlier this month, filed for Chapter 11 bankruptcy on Tuesday.

  • SAN FRANCISCO, Dec 29- A federal judge granted approval for coal producer Walter Energy Inc to reject its labor agreements and end retiree benefits, which the bankrupt U.S. company said was needed in order to sell off its operations, given the industry's dire straits. "The court finds credible that no potential buyers have an interest in assuming such obligations,...

  • WILMINGTON, Del, Dec 23- Rising financial stress in the U.S. energy sector has prompted some suppliers and vendors to take unusual legal action to collect unpaid debts: forcing struggling companies with billions of dollars in debt into bankruptcy. Since August, creditors have filed petitions for involuntary bankruptcy against three energy producers with...

  • Puerto Rico government pays Christmas bonuses Monday, 21 Dec 2015 | 6:35 AM ET

    Puerto Rico started paying Christmas bonuses to public employees and aims to complete the process within the next three days.

  • SAO PAULO, Dec 18- Creditors of Grupo OAS, the Brazilian engineering firm under creditor protection, agreed on Friday to sell a 24.4 percent stake in infrastructure company Invepar to Brookfield Asset Management Inc for 1.35 billion reais. The filing came after Grupo OAS struggled with the impact of a corruption probe at state-controlled oil producer...

  • Gunmaker Colt sees bankruptcy exit in coming weeks Thursday, 17 Dec 2015 | 3:29 PM ET

    Dec 17- Colt Defense LLC expects to complete its restructuring and emerge from bankruptcy in the coming weeks, the gunmaker said in a joint statement with the United Auto Workers union on Thursday. The gun manufacturer, owned by private equity firm Sciens Capital Management, will emerge from bankruptcy at a time of both rising sales and increasing pressure for...

  • Gov: Puerto Rico will default in January or May Wednesday, 16 Dec 2015 | 3:29 PM ET
    Puerto Rico Gov. Alejandro Garcia Padilla delivers his state of the Commonwealth address at the Capitol building in San Juan on April 30, 2015.

    Puerto Rico's governor says that the island will default on its debt in January or May.

  • Magnum Hunter seeks bankruptcy Wednesday, 16 Dec 2015 | 10:00 AM ET
    Magnum Hunter seeks bankruptcy

    The oil and gas producer filed for Chapter 11 bankruptcy protection on Tuesday.

  • *Co may file for bankruptcy this year- BB&T Capital Markets. Dec 15- Arch Coal Inc, the second-largest coal miner in the United States, delayed a $90 million interest payment that was due Tuesday, pushing back a widely expected bankruptcy filing. If Arch Coal files a Chapter 11 petition, it will become the fourth coal miner to declare bankruptcy this year, joining...

  • *Co may file for bankruptcy this year- BB&T Capital Markets. Dec 15- Arch Coal Inc, the second-largest coal miner in the United States, delayed a $90 million interest payment that was due Tuesday, pushing back a widely expected bankruptcy filing. If Arch Coal files a Chapter 11 petition, it will become the fourth coal miner to declare bankruptcy this year, joining...

  • NEW YORK/ HOUSTON, Dec 14- Law firms and banks are adding staff to their restructuring practices from Houston to New York City to scoop up new business as oil prices sink near 11- year lows, pressuring energy companies to slash debt or file for bankruptcy. Another three law firms have re-jigged staff for the new work, and other restructuring advisors have partnered...

  • 'I'm concerned about credit markets' Thursday, 10 Dec 2015 | 5:09 PM ET
    'I'm concerned about credit markets'

    Jim Awad, MD at Plimsoll Mark Capital, warns that the lack of regulation and discipline in credit markets risk hurting the U.S. economy.

  • SAO PAULO, Dec 10- Brazil sugar and ethanol producer Tonon Bioenergia SA, which operates three mills with a total capacity to process 8.2 million tonnes of cane per year, has sought court protection against creditors, the company said late on Wednesday. Tonon said its debt, largely denominated in dollars, soared following the recent weakening of Brazil's...