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Bankruptcy

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  • Caesars unit's bankruptcy to proceed in Chicago Wednesday, 28 Jan 2015 | 12:05 PM ET

    The move to keep the filing in Chicago rather than Delaware is a victory for Caesars Entertainment's private equity backers.

  • Jan 28- A U.S. bankruptcy judge said on Wednesday he would not transfer the bankruptcy filing of Caesars Entertainment Corp's operating unit to Delaware from Chicago, a victory for the company's private equity backers. Hedge funds creditors wanted the casino company's $10 billion debt-cutting plan reviewed under the legal standards of the Delaware court.

  • TOKYO, Jan 28- Japan's leading independent budget airline Skymark Airlines Inc filed for protection from creditors late on Wednesday, blaming a weak yen and a dispute with Airbus Group for its financial straits. "The company, believing the demands for breach-of-contract payments were unreasonable, attempted to negotiate a reduction in the payments with...

  • WILMINGTON, Del.— A federal judge in Delaware ruled Wednesday that the Chapter 11 case of casino giant Caesars Entertainment Corp. will proceed in Illinois, denying a motion by several creditor groups who wanted the case heard in Delaware. Bankruptcy Judge Kevin Gross was a victory for Caesars, whose operating unit filed for bankruptcy protection in Chicago...

  • WILMINGTON, Del, Jan 27- The operating unit of Caesars Entertainment Corp will learn Wednesday whether its bankruptcy will proceed in Chicago, where the casino company filed for Chapter 11 this month, or in Delaware, a U.S. bankruptcy judge in Delaware said on Tuesday. Allowing the case to proceed in Chicago would be a victory for Caesars private equity backers,...

  • FORT WORTH, Texas— American Airlines is logging record profits and rewarding shareholders just one year removed from bankruptcy court and a big merger. Much of the new competition is coming from low-cost carriers who are adding flights from cities including Philadelphia, Chicago, Washington and Dallas, American executives said. American Airlines Group Inc....

  • DETROIT— The city's successful exit from the largest municipal bankruptcy in U.S. history doesn't mean Detroit's troubles are over, its former fiscal overseer told area business leaders Tuesday. Mayor Mike Duggan and the City Council have resources, but the work of moving Detroit forward continues, Kevyn Orr said at a Detroit Economic Club event.

  • WILMINGTON, Del.— A court battle over whether the bankruptcy case of casino giant Caesars Entertainment Corp. should proceed in Delaware or in Illinois was postponed Monday because of a snowstorm bearing down on the East Coast. The judge presiding over Monday's hearing in Wilmington, Delaware, said he was concerned about the safety of attorneys, many of whom...

  • Jan 23- Moody's Investors Service slashed Atlantic City's credit rating six notches deeper into junk territory on Friday, a day after New Jersey Governor Chris Christie appointed an emergency manager with a mandate to consider a debt restructuring. Atlantic City has about $344 million of long-term debt outstanding. The order from Christie to consider a...

  • Caesars bankruptcy venue decision near Friday, 23 Jan 2015 | 3:30 PM ET

    LAS VEGAS— Delaware or Chicago: Troubled casino giant Caesars Entertainment Corp. should find out early next week where a subsidiary's Chapter 11 bankruptcy case will be decided. Caesars prefers Chicago, where its Caesars Entertainment Operating Co. filed for bankruptcy protection filed Jan. 15. Based only on previous cases, that may be easier to do in Chicago...

  • Remember these? One-hit wonder Super Bowl ads Friday, 23 Jan 2015 | 3:09 PM ET
    The Pets.com sock puppet dog stars in a commercial for the company, Jan. 11, 2000, in Los Angeles.

    Every year, first-time advertisers gamble millions in hopes of scoring big on game day and long afterward, but many come up short.

  • Garden gnome fans fret: SkyMall files for bankruptcy Friday, 23 Jan 2015 | 1:35 PM ET

    NEW YORK— Apparently, airline passengers aren't buying enough garden gnomes, superhero pajamas and heated cat shelters. While flying high over Iowa, they could dream about owning a $16,000 multisensory home sauna or maybe just a grill spatula with a built-in flashlight for $29.95. They don't have a captive audience, "says John DiScala, who runs the travel advice...

  • Jan 23- SkyMall, whose in-flight shopping catalogs have long been a staple of airline travel, has filed for bankruptcy protection, blaming changing consumer habits and the loss of contracts from two major carriers, Delta and Southwest. Xhibit and SkyMall filed for Chapter 11 protection from creditors on Thursday night in the U.S. bankruptcy court in Phoenix,...

  • In-flight catalog SkyMall files for bankruptcy Friday, 23 Jan 2015 | 10:55 AM ET

    Finding it hard to flourish in a smartphone-dominated world, in-flight catalog maker SkyMall has filed for bankruptcy, according to a court filing.

  • ATLANTIC CITY, N.J.— In naming an emergency manager for Atlantic City on Thursday, New Jersey Gov. Neither man would say whether a Detroit-style bankruptcy filing is in store for Atlantic City, calling such talk premature. But the emergency order Christie issued gives Lavin the power "to place the finances of Atlantic City in stable condition on a long-term basis...

  • Garlock, a unit of EnPro Industries, filed for bankruptcy in 2010 in Charlotte, North Carolina, in the face of the mounting cost of asbestos lawsuits. Golini allegedly told Philadelphia- based Shein he was exposed to 14 asbestos products made by bankrupt companies including Owens Corning and Armstrong World Industries. After Garlock settled with Golini, Shein...

  • NEW YORK— A month after it was fined $47 million for misleading investors, Life Partners Holdings said Tuesday it filed for Chapter 11 bankruptcy protection. The Securities and Exchange Commission filed a lawsuit against the company in 2012, saying that Life Partners Holdings and three executives misrepresented revenues and public information.

  • UPDATE 1-Life Partners Holdings files for bankruptcy Tuesday, 20 Jan 2015 | 2:26 PM ET

    Jan 20- Life Partners Holdings Inc, which deals in the secondary market for life insurance, said it filed for bankruptcy on Tuesday as it pursues an appeal of a $46 million judgment against it and two executives over misleading investors about the core aspects of its business. The U.S. Securities and Exchange Commission had sued Life Partners in 2012 and sought to...

  • Life Partners Holdings files for bankruptcy Tuesday, 20 Jan 2015 | 1:46 PM ET

    Jan 20- Life Partners Holdings Inc, which deals in the secondary market for life insurance, said it filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Northern District of Texas.

  • Remember these stores? Retailers that went bust Friday, 16 Jan 2015 | 12:42 PM ET

    We've pulled together a list of just some of retailers that have disappeared over the last 25 years. Bring on the nostalgia.