SAO PAULO, July 21- Shares in Brazil's largest listed commercial lenders posted their biggest drop in a month on Thursday on a financial blog report that Odebrecht SA could be considering filing for bankruptcy protection, which the company denied. An index grouping banking and financial shares trading in the São Paulo Stock Exchange dropped as much as 2.1... » Read More
Two years ago, the Bay Area city of 120,000 went into a special kind of bankruptcy reserved for local governments called Chapter 9. It allowed the city of break contracts and suspend debt payments.
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The chance of a bankruptcy filing by the Pennsylvania capital of Harrisburg looms large these days—and it could be just the tip of the iceberg. Some on Wall Street expect more to come this year—as many at 10 municipal bankruptcies.
Six Flags Entertainment has emerged from Chapter 11 bankruptcy protection, the amusement park operator announced Monday.
The lawyers, accountants and restructuring experts overseeing the remains of Lehman Brothers have already racked up more than $730 million in fees and expenses, with no end in sight.
GM is running TV ads claiming that they have repaid their government TARP loan of $8 billion and change early. Eight billion? So what is that stock worth asks William Dunkelberg, Economics Professor at Temple University.
Bailed-out automaker General Motors will repay the roughly $6 billion it owes to the US and Canadian governments before its previously announced deadline of June 1, CNBC has learned.
Carl Icahn, who lost out this week on a bid to buy the three Trump Entertainment Resorts casinos in Atlantic City out of bankruptcy, says he'll appeal the ruling.
In a portion of the Lehman examiner’s report unsealed Wednesday, Anton Valukas, appointed to investigate the circumstances surrounding Lehman Brother’s collapse and liquidation, says that the failed investment bank may have cause to sue Goldman Sachs and Barclays for what might be a “fraudulent transaction.” The New York Times explains.
US financial companies still have more than a $1 trillion on their balance sheets, but analysts say they are unlike to stem the recent rally in financials.
In the years before its collapse, Lehman Brothers shifted investments off its books by using a small company that appeared to be independent but whose board it controlled, the New York Times reported.
General Motors says it will make another $1.2 billion in loan repayments to the U.S. and Canadian governments by the end of this month.
How much do you know about one of the biggest business scandals of all time? Take our Enron quiz and find out.
SEC and Fed officials were warned by a leading Wall Street rival that Lehman Brothers was incorrectly calculating a key measure of its financial health months before its collapse, the FT reports.
So where are the criminal indictments of Wall Street CEOs after the largest economic crime spree is U.S. history?
Bailed-out auto company General Motors has a reasonable chance of being profitable this year, and it plans to repay its government loans as soon as possible, CFO Chris Liddell told CNBC Wednesday.
Almost two years ago to the day, a team of officials from the Securities and Exchange Commission and the Federal Reserve Bank of New York quietly moved into the headquarters of Lehman Brothers. They were provided desks, phones, computers — and access to all of Lehman’s books and records. At any given moment, there were as many as a dozen government officials buzzing around Lehman’s offices.