WILMINGTON, Del, Sept 2- Gun maker Colt Defense and its creditors are close to a deal on a plan to bring the company out of bankruptcy, but if it fails, the business will go on the auction block next month, a company lawyer told a judge on Thursday. "It's fair to say the parties are very close to a deal," Colt lawyer John Rapisardi told the U.S. Bankruptcy Court in Wilmington,...» Read More
Key Democratic lawmakers are pushing legislation that would block creditors charging high interest rates on credit cards from collecting from consumers in bankruptcy proceedings.
The white-hot anger over AIG continues to radiate heat beyond any politician's worst nightmare. This is what happens when friends don't let friends go into bankruptcy.
In Moody’s “U.S. Bottom Rung” report, the ratings agency lists the 283 speculative-grade, non-financial U.S. companies most at risk of default. Check out the list.
General Motors' auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.
General Motors' says it gave Chief Executive Rick Wagoner compensation valued at $14.9 million last year for leading a company that lost $30.9 billion and is running on government loans.
American International Group should be allowed to go bankrupt because keeping it and other sick financials alive on government support risks ruining the US economy, legendary investor Jim Rogers told CNBC Tuesday.
When a company carries too much debt, disastrous consequences may arise for employees and the company itself.
Gerald Greenwald, a founding partner at Greenbriar Equity Group, joined CNBC today to give his opinion on the ailing economy and his hopes that GM can avoid Chapter 11 bankruptcy.
An Obama administration task force considering the fate of General Motors and Chrysler is discouraging bankruptcy protection as an option for the struggling companies, two senators said Tuesday.
The peanut processing company at the heart of a national salmonella outbreak filed for bankruptcy Friday, a sign the beleaguered company plans to cease business in the wake of the health scare.
Sirius XM Satellite Radio has been working with advisers to prepare for a possible bankruptcy filing in a move that could put pressure on satellite company EchoStar, which owns a substantial amount of the company’s debt.
The number of Americans trading in marriage for cohabitation continues to rise. So, assuming that arrangement means commitment and longevity, couples need to make sure you have an estate plan in place to avoid some very unwelcome surprises down the road.
Prenuptial agreements are often associated with millionaire moguls and super celebs, but the truth is prenups are not only for the über rich and famous. In fact, people of all ages and ranges of net worth could find a lot of value in signing one before they tie the knot.
People seem to pass certain milestones on the road of financial desperation. First the unpaid bills pile up. Then the bank forecloses. Finally, they reach the end of the line: bankruptcy court. But now policy makers are talking about redrawing this map by putting the bankruptcy court before foreclosure to give people a chance to keep their homes.
For so long, it's been all about value in the retail sector, and looking at the latest retail sales results, that hasn't changed yet. But an often overlooked type of retail business is emerging as a new diamond in the rough: gemstones.
The names of several thousand clients who lost money investing with Bernard Madoff have been released in a court filing that reads like a Who's Who: former Los Angeles Dodgers pitcher Sandy Koufax, actor Kevin Bacon and even Madoff's defense lawyer.
No, Carmen says. The only person who can repair your credit is you.
The visible signs of the carnage in the retail sector will soon be too hard for many to ignore. The International Council of Shopping Centers projects 148,000 retail stores will be shuttered in 2008, and another 73,000 stores will close in the first half of this year. If those estimates prove correct, the number of closures last year will be the highest since at least 2001, and this year, closures will be on track for a similarly brisk pace.
Carmen weighs the options for one couple who feel like they're drowning in debt.
John Ulzheimer explains the pros and cons to filing for chapter 7 if you're in too deep with your lenders.