Enter multiple symbols separated by commas

Business Events Bankruptcy


  • PORTLAND, Maine— A federal judge has approved the sale of Lincoln's paper mill to a liquidator. The bankruptcy court judge on Friday approved the sale of Lincoln Paper and Tissue's Maine mill to Gordon Brothers Group of Boston. An attorney representing United Steel Workers say it appears the firm will likely dismantle the facility.

  • Household debt at highest level since 2010: NY Fed Thursday, 19 Nov 2015 | 11:07 AM ET
    Household debt at highest level since 2010: NY Fed

    CNBC's Steve Liesman digs into household debt rising by $212 billion to $12.07 trillion, and student loans at a new record.

  • *Sprawling litigation costs casino group $1 million a day. The acrimonious $18 billion bankruptcy has pitted junior bondholders against the casino group's parent, Caesars Entertainment, whom they accuse of pillaging the unit of its best assets before filing for Chapter 11 protection. Caesars has said the transfers were fair, but the fight has triggered...

  • Atlantic City seeks tax sale for unpaid casino taxes Tuesday, 17 Nov 2015 | 3:44 PM ET

    The bankrupt Trump Entertainment Resorts owes more than $12 million in back taxes, nearly 10 percent of the city's budget. Trump Plaza, which closed in September 2014, owes nearly $1.5 million. Revel and Trump Plaza were two of the four Atlantic City casinos that closed last year, along with The Atlantic Club and the Showboat.

  • SHARON, Pa.— The bankrupt Quaker Steak& Lube restaurant chain expects to be purchased by TravelCenters of America for $25 million. The chain was founded and based in Sharon, about 60 miles northwest of Pittsburgh, in 1974. The chain has grown to more than 50 locations in 16 states and is known for its automotive themed decor and chicken wings. But the company filed for...

  • Greece secured deal with lenders on foreclosures Monday, 16 Nov 2015 | 10:57 PM ET
    People wait to enter a bank branch as Greek banks reopened on Monday morning after three weeks of closure on July 20, 2015 in Athens, Greece.

    Greece reached a preliminary deal with its international lenders on home foreclosures reform late on Monday.

  • Nov 11- The founder and former chief executive officer of Alpha Natural Resources, among the largest U.S. coal companies, objected on Wednesday to Alpha's plan under bankruptcy to drop benefits for more than 4,500 miners, spouses and their dependants. Former Alpha CEO and Chairman Michael Quillen said eliminating retiree health benefits of thousands of...

  • Apple, former client to settle $439M debt: Report Wednesday, 4 Nov 2015 | 6:14 PM ET
    Apple Inc. iPhone 6s Plus smartphones are displayed after a product announcement in San Francisco, California.

    GT Advanced Technologies has reached a deal to resolve debt it took on to become an Apple iPhone supplier, according to a report.

  • How one entrepreneur turned $400,000 debt into success Wednesday, 4 Nov 2015 | 7:00 AM ET
    How one entrepreneur turned $400,000 debt into success

    Nihal Mehta, a serial entrepreneur and venture capitalist, has created five start-ups and now uses the lessons from two failed companies to be a more effective investor.

  • US plan for Puerto Rico isn't good enough Tuesday, 3 Nov 2015 | 2:51 PM ET
    A pedestrian walks past a building painted with graffiti in San Juan, Puerto Rico last June.

    Puerto Rico needs more than bankruptcy protection. Policy makers have to start thinking long term, says Douglas Holtz-Eakin.

  • *Around 3 to 4 bln dirhams in defaults in recent months- bankers. DUBAI, Nov 3- A softening in the United Arab Emirates' economy has led to a surge in small and medium-sized businesses defaulting on debt, dragging on banks' performance and highlighting the need for a new bankruptcy law. SMEs contribute 60 percent of UAE's gross domestic product but banks have long seen...

  • Greece's four biggest banks must raise nearly $16B in new money to withstand any new crisis. The New York Times explains why.

  • Oct 30- Fresh& Easy filed its second bankruptcy in two years on Friday after billionaire Ron Burkle was unable to turn around the West Coast grocery chain, which is in the process of closing down. British grocer Tesco Plc launched Fresh& Easy in 2006 with many industry analysts expecting the deep-pocketed company to challenge the dominance of Wal-Mart Stores Inc.

  • MOSCOW, Oct 30- Insolvent airline Transaero, once Russia's second-biggest carrier, is considering offering its creditors equity stakes in exchange for part of its debt, among other options, Chief Executive Valery Zaytsev said at a meeting with lenders. Sberbank, VTB and VEB account for 120 billion roubles of Transaero's total debt of over 250 billion roubles.

  • *World Bank says Indian bankruptcy takes average 4.3 years. *Average recovery just 25.7 cents on dollar- World Bank. MUMBAI, Oct 30- A group of government-appointed advisors has recommended sweeping changes to India's outdated and overburdened bankruptcy system, aiming to modernise a process that takes several years and costs investors and taxpayers...

  • CHICAGO, Oct 29- A judge has rejected an unusual attempt by junior bondholders of Caesars Entertainment's bankrupt operating unit to disqualify law firm Kirkland& Ellis from leading the casino group's $18 billion Chapter 11 restructuring. Jones Day, the junior bondholders' law firm, had asked the court to reconsider a May order that allowed the bankrupt unit of...

  • Donald Trump: Boy am I good at solving debt problems Wednesday, 28 Oct 2015 | 8:59 PM ET
    Donald Trump: Boy am I good at solving debt problems

    "I'm glad I did it," Donald Trump says of his four bankruptcy filings.

  • Forget bankruptcy, this is how to fix Puerto Rico Tuesday, 27 Oct 2015 | 12:58 PM ET
    The Puerto Rican Capitol in San Juan

    Simply filing for Chapter 9 will not be enough to patch up Puerto Rico's problems, says Jorge San Miguel. This is what the island really needs.

  • CHICAGO, Oct 26- When a bankrupt operating unit of Caesars Entertainment went on the market earlier this month, the package consisted of 38 casinos, including the iconic Caesars Palace Las Vegas. Potential bidders for CEOC, a casino-operating unit of Caesars Entertainment would be wading into the middle of a costly and complicated bankruptcy, and they note that...

  • Puerto Rico is edging closer to bankruptcy Thursday, 22 Oct 2015 | 11:00 PM ET

    Puerto Rico could be completely illiquid by November, pushing it closer to defaulting on major debt payments, top officials said.