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  • Aeropostale said it plans to finance its operations during its bankruptcy through a $160 million loan from Crystal Financial LLC combined with operating cash flow, according to a court filing.. The company said it expects to emerge out of bankruptcy within six months with a resolution of its disputes with former shareholder Sycamore Partners, which had...

  • NEW DELHI, May 2- A long-awaited Indian bankruptcy code may soon win parliamentary approval, but struggling creditors- above all state banks trying to recover $100 billion in bad loans- shouldn't start celebrating just yet. For Prime Minister Narendra Modi's drive to' Make in India', encouraging new investment depends on unburdening creditors of old ones that...

  • April 28- Energy Futures Holdings Corp's plan to sell its Oncor power distribution business for about $19 billion to fund its exit from bankruptcy will not close as expected, a company lawyer told a U.S. While Oncor is considered a crown jewel asset, the Public Utility Commission of Texas imposed conditions for approving the deal that have discouraged the...

  • April 27- When a group of hedge funds agreed to lend $725 million to SunEdison Inc- three months before it filed for bankruptcy last week- they secured an unusually generous concession from the U.S. renewable energy company and its other lenders. The funds, which at the time included Tennenbaum Capital Partners LLC and Candlewood Investment Group LP, put...

  • April 21- SunEdison Inc, once the fastest-growing U.S. renewable energy company, filed for Chapter 11 bankruptcy protection on Thursday after a short-lived but aggressive binge of debt-fueled acquisitions proved unsustainable. In its bankruptcy filing, the company said it had assets of $20.7 billion and liabilities of $16.1 billion as of Sept. 30.

  • In its bankruptcy filing, the company said it had assets of $20.7 billion and liabilities of $16.1 billion as of Sept. 30. Shares of SunEdison were halted, and last traded at about 34 cents on the New York Stock Exchange. The company's stock traded as high as $33.44 in July 2015.

  • In its bankruptcy filing, the company said it had assets of $20.7 billion and liabilities of $16.1 billion as of Sept. 30. "Our decision to initiate a court-supervised restructuring was a difficult but important step to address our immediate liquidity issues," said Ahmad Chatila, SunEdison chief executive officer. Shares of SunEdison were halted, and last traded...

  • One guy accidentally deletes his company with a line of code

    Marco Marsala mistakenly ran a Bash script, erasing all data from his device.

  • April 14- U.S. oil and gas producer Energy XXI Ltd, which has operations in Louisiana, Texas and the Gulf of Mexico, said on Thursday it has filed for bankruptcy protection, becoming one of the biggest casualties of the oil rout to date. The company will eliminate more than $2.8 billion in debt from its balance sheet through the Chapter 11 restructuring, it said in a...

  • April 6- Struggling surfwear chain Pacific Sunwear of California Inc has accelerated its bankruptcy plans after negotiating with lenders and could file for Chapter 11 protection as soon as Wednesday night, Bloomberg reported. The retailer has worked out a deal with private equity firm Golden Gate Capital to help the company avoid liquidation, Bloomberg...

  • April 1- SunEdison Inc is planning to file for bankruptcy protection in the coming weeks, The Wall Street Journal reported on Friday, citing people familiar with the matter. The company's creditors are likely to take control of the company and its portfolio of power projects, The Wall Street Journal reported, citing the sources. A spokesperson for Belmont,...

  • March 28- Sears Holdings Corp Chief Executive Eddie Lampert has acquired a portion of the company's new $750 million loan in his latest bet on the parent of Sears department stores and Kmart discount shops, people familiar with the matter said. The loan helps Sears pay down some of its older debt at a time when shoppers are moving away from malls in favor of...

  • March 16- Peabody Energy Corp, the largest U.S. coal producer, said it may have to seek bankruptcy protection as it did not have enough funds to continue operations. Peabody's shares have crashed from their record high of more than $1,300 in 2008 to $4.01 as of Tuesday's close, reflecting the downturn in the coal market over the past few years. As of Dec. 31, the company...

  • Brent crude has rallied in recent weeks to above $40 a barrel, but prices are still far below the $60 per barrel break-even level for the Houston- based company. Energy XXI has been working with PJT Partners LP and Vinson& Elkins LLP on restructuring options, according to the filing. The biggest energy producer to go bankrupt over the past year has been Tulsa,...

  • Trump fact check

    CNBC's Robert Frank looks at the reality behind Donald Trump's business ventures including his water label, steaks, and winery.

  • NEW YORK, March 2- Lynn Tilton's Patriarch Partners LLC has been sued over last week's abrupt firing of roughly 1,200 workers at TransCare Corp, shortly after the privately held ambulance company filed for bankruptcy protection, court papers show. TransCare workers accused Patriarch, whose portfolio included the Brooklyn- based company, of failing to provide...

  • NEW YORK, Feb 17- Victims of Bernard Madoff's fraud cannot pursue a Florida lawsuit to recover $11 billion from the estate of Jeffry Picower, who they say helped perpetuate the swindler's Ponzi scheme, a Manhattan bankruptcy judge ruled on Wednesday. Bankruptcy Judge Stuart Bernstein said the lawsuit by A&G Goldman Partnership and Pamela Goldman, their third...

  • NEW YORK, Feb 17- Victims of Bernard Madoff's fraud cannot pursue a Florida lawsuit to recover $11 billion from the estate of Jeffry Picower, who they say helped perpetuate the swindler's Ponzi scheme, a Manhattan bankruptcy judge ruled on Wednesday. Bankruptcy Judge Stuart Bernstein said the lawsuit by A&G Goldman Partnership and Pamela Goldman, their third...

  • WASHINGTON, Feb 9- U.S. wholesale inventories slipped in December for a third straight month as businesses continued to reduce unsold merchandise, suggesting the advance fourth-quarter economic growth estimate could be revised slightly lower. The Commerce Department said on Tuesday wholesale inventories dipped 0.1 percent. November inventories were...

  • Over the past year scores of commodity-related businesses have filed for bankruptcy as prices for metals, energy and coal have plummeted amid a slowdown in markets such as China and Brazil. "This is due to a number of factors, principal among them is the sustained and dramatic decline in the price of primary aluminum," Chief Financial Officer Dale Boyles said in a...