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Business Events Bankruptcy

  • FRANKFURT, Germany— The European Central Bank has pulled the plug on two troubled Italian banks, sending them into insolvency proceedings as it pushes ahead with efforts to clean up weak banks holding back the economy. The two banks, Veneto Banca and Banca Popolare di Vicenza, have struggled to overcome high levels of loans that were not being paid back.

  • The closures were confirmed in a filing with the SEC Friday morning by real estate investment trust Seritage, which owns the 20 properties.

  • A Sears store about to close in the Bronx, New York.

    Sears Holdings is shuttering 20 more U.S. stores, in addition to the more than 200 closings earlier this year, Business Insider reports.

  • A Sears store in Toronto on its last day of operations in 2014.

    Trading in Sears Canada was halted on Thursday, two days after reports the Canadian retailer was preparing to seek court protection against creditors.

  • TOKYO, June 22- Takata Corp will seek bankruptcy protection from creditors on Monday, two sources said, as the Japanese company faces billions of dollars in liabilities stemming from the biggest recall in automotive history. The firm, whose defective air-bag inflators have been blamed for at least 16 deaths and more than 150 injuries worldwide, will file for...

  • Boris Becker declared bankrupt by British court

    Boris Becker has been declared bankrupt by a British court after he failed to pay a long-standing debt.

  • J. Crew Tilly cardigan sweater

    J.Crew won approval from a majority of its debtholders to amend its loan agreement.

  • Boris Becker, coach of Serbia's Novak Djokovic on centre court before the resumption of his match against USA's Sam Querrey.

    Boris Becker has been declared bankrupt by a British court after he failed to pay a long-standing debt.

  • A deployed airbag is seen in a Chrysler vehicle at the LKQ Pick Your Part salvage yard on May 22, 2015 in Medley, Florida. The largest automotive recall in history centers around the defective Takata Corp. air bags that are found in millions of vehicles th

    The company's bankruptcy will leave little for dozens of people who sued the company over its exploding air bag inflators, experts said.

  • DETROIT— A bankruptcy filing by Japanese air bag maker Takata will leave little money for dozens of people who sued the company over deaths and injuries caused by its exploding air bag inflators, according to outside legal experts and lawyers suing the company. Takata Corp. and its U.S. operations are likely to seek bankruptcy protection by the end of June in a...

  • MUMBAI, June 16- India's central bank has asked lenders to initiate bankruptcy proceedings against a dozen companies, including Essar Steel, Bhushan Steel Ltd, Monnet Ispat and Energy Ltd, sources with direct knowledge of the matter said. This follows a change enacted in laws last month that gives the Reserve Bank of India greater power to address the $150...

  • LUXEMBOURG— Greece avoided another potential brush with bankruptcy after striking a deal with European creditors to tide it over for the rest of the year and gained assurances that its repayment burden will be eased when it finally can stand on its own after nearly a decade on financial life support. After months of haggling that raised fears of another...

  • *Tokyo bourse suspends trading in Takata shares. NEW YORK/ WASHINGTON, June 15- Takata Corp, the Japanese company facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as early as next week as it works toward a deal for financial backing from U.S. auto parts maker Key Safety Systems Inc, sources said on...

  • NEW YORK/ WASHINGTON, June 15- Takata Corp, the Japanese company facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as early as next week as it works toward a deal for financial backing from U.S. auto parts maker Key Safety Systems Inc, sources said on Thursday. The company plans to begin proceedings in...

  • NEW YORK/ WASHINGTON, June 15- Japanese air bag maker Takata Corp is preparing to file for bankruptcy as early as next week as it works toward a preliminary deal for financial backing from U.S. auto parts maker Key Safety Systems Inc, people familiar with the matter said on Thursday. Also at stake is $850 million owed by the Japanese airbag system maker to major...

  • The Soup Nazi from an episode of Seinfeld.

    Soupman, the food company made famous by Seinfeld, has sought bankruptcy court protection. USAToday reports.

  • Wells Fargo is accused of making improper changes to mortgages

    The bank denies allegations in lawsuits that it changed the loan terms of customers in bankruptcy without their knowledge, putting them at risk of default.

  • LUXEMBOURG— Greece avoided another potential brush with bankruptcy Thursday after striking a deal with European creditors to tide it over for the rest of the year and gained assurances that its repayment burden will be eased when it finally can stand on its own after nearly a decade on financial life support. After months of haggling that raised fears of...

  • NEW YORK, June 14- The five-judge team tapped to mediate a slew of thorny legal fights in Puerto Rico's massive bankruptcy will include the judge who presided over Stockton, California's 2012 bankruptcy and Puerto Rican-born federal Judge Victor Marrero. The group will be led by Judge Barbara Houser, the chief judge for the federal bankruptcy court in Dallas,...

  • SAN JUAN, Puerto Rico— A federal judge overseeing the restructuring of Puerto Rico's debt has created a mediation team to help resolve the U.S. territory's bankruptcy cases. Houser is expected to provide details of the mediation process at a June 28 hearing in Puerto Rico. Puerto Rico is mired in a 10- year economic recession and seeking to restructure a portion...