DETROIT— General Motors revealed in court filings late Tuesday that it will soon ask a federal bankruptcy judge to shield the company from legal claims for conduct that occurred before its 2009 bankruptcy.» Read More
CNBC's Scott Cohn reports Detroit has reached a deal with retirees on pension cuts.
The city of Detroit has reached a deal with retired police officers and firefighters that would preserve current pensions.
Bankruptcy judges in the U.S. and Canada have agreed on a June 13 deadline for claims that relate to fiery disaster in which 47 people were killed in Lac Megantic, Quebec. A U.S. bankruptcy judge in Maine also has granted a moratorium on further asset-liquidation plans in the case.
April 14- Mark Karpeles, the founder of Mt. Gox lawyers cited a subpoena from the U.S. Department of Treasury's Financial Crimes Enforcement Network, which has closely monitored virtual currencies like bitcoin. The court papers also said a Japanese court had been informed of the issue and that a hearing was scheduled on Tuesday in Japan.
April 13- Silicone and quartz producer Momentive Performance Materials Inc, owned by Apollo Global Management LLC, on Sunday filed for Chapter 11 bankruptcy protection as part of a "restructuring support agreement" with some of its creditors.
RIO DE JANEIRO, April 11- Eike Batista, who was Brazil's richest man for most of the past decade, is under investigation for allegedly engaging in insider trading while he chaired his now-bankrupt oil-producing and shipbuilding firms, securities industry watchdog CVM said on Friday.
RIO DE JANEIRO, April 11- Eike Batista, who was Brazil's richest man for most of the past decade, is under investigation by securities industry watchdog CVM for allegedly engaging in insider trading while he chaired his now-bankrupt oil-producing and shipbuilding firms.
DETROIT, April 11- Detroit's plan to get out of bankruptcy cleared a major hurdle on Friday when a U.S. Bankruptcy Court judge approved the cash-strapped city's third attempt at settling costly interest-rate swap agreements with two investment banks.
A federal judge's approval of Detroit's settlement with two banks marks a turning point in the city's reorganization.
JACKSON, Miss.— A Jackson man was indicted Wednesday on charges that he defrauded his bankrupt business of more than $9 million. William "Butch" Dickson faces charges in U.S. District Court in Jackson.
A U.S. Bankruptcy Court judge approved Detroit's third try at settling costly interest-rate swap agreements.
CNBC's Scott Cohn reports the judge in Detroit's bankruptcy has approved an $85 million settlement between the city and Bank of America and UBS over swaps contracts.
SANDPOINT, Idaho— The women's clothing retailer Coldwater Creek has filed for Chapter 11 bankruptcy protection after failing to find a potential buyer or a source of capital to help fund its turnaround efforts. Coldwater Creek said Friday that its stores and its website are still open and selling clothing and other goods to shoppers.
April 11- Women's clothing retailer Coldwater Creek Inc on Friday filed for Chapter 11 bankruptcy, the latest in a growing list of retailers to seek protection from creditors as consumers keep a lid on spending. Coldwater Creek last October announced plans to seek strategic alternatives, including a possible sale.
DETROIT— Some creditors in Detroit's bankruptcy with eyes on city-owned art say they've found buyers willing to pay more than $1 billion for parts or all of the collection. The creditors are asking bankruptcy Judge Steven Rhodes to order Detroit to cooperate with interested parties.
Detroit has reached a settlement with bond insurers over treatment of the city's bankruptcy debt, emergency manager Kevyn Orr told CNBC.
DETROIT— The city of Detroit reached a deal in bankruptcy over $388 million in bonds, mediators announced Wednesday, a significant agreement that could influence other creditors to try to get a settlement. Detroit will pay 74 cents for each dollar. Detroit emergency manager Kevyn Orr, appointed by the state to run the city, said he hopes to announce more deals soon.
Kevyn Orr, City of Detroit emergency manager, discusses the deal reached this morning with bond insurers over the treatment of some bonds. Some municipal bondholders will get back as much as 74 cents on the dollar.
BANKRUPTCY-COURT APPOINTED MEDIATOR WILL MAKE ANNOUNCEMENT ON SETTLEMENT LATER WED MORNING-CITY SPOKESMAN.
BILLINGS, Mont.— Real-estate developer Tim Blixseth was ordered to pay $41 million to creditors of the luxury Montana resort he helped drive into bankruptcy, by a federal judge who slammed the one-time billionaire for distorting the facts in the case.