MOSCOW, July 10- Russian Industry Minister Denis Manturov supports returning indebted miner Mechel to financial health within the framework of bankruptcy law or by creating a managing company, RIA news agency reported on Thursday.» Read More
SACRAMENTO, Calif., July 8- The judge in Stockton, California's bankruptcy on Tuesday ruled that the city has collateral worth $4.052 million with which it could pay holdout creditor Franklin Templeton, dismissing the city's contention its collateral was worthless.
Flint, which was the birthplace of General Motors and once had 200,000 residents, also has suffered a spectacular drop in population and factory jobs and a corresponding rise in property abandonment, much like its insolvent big brother an hour's drive south.
Spanish Internet stock star Let's Gowex declared bankruptcy after its CEO admitted to falsifying accounts. Financial Times reports.
DETROIT— The most anticipated vote in Detroit this summer isn't for a city office. Instead, ballots submitted by city retirees could determine how quickly Detroit exits its historic bankruptcy and how much of the financial weight pensioners will bear. Rick Snyder and Detroit emergency manager Kevyn Orr, the proposal's architect.
NEW YORK, July 1- Bankrupt wireless venture LightSquared on Tuesday revealed a new restructuring proposal that would cede 74 percent of its equity to a new investor group that includes JPMorgan Chase& Co, Cerberus Capital Management and Fortress Investment Group.
DENVER— Quiznos said Tuesday that it has emerged from bankruptcy after restructuring its finances. CEO Stuart Mathis said it plans to increase sales by revitalizing the brand and reinforcing itself as a place for a "fresh, high-quality and great-tasting alternative to traditional fast food offerings."
NEW YORK, June 27- Wireless venture LightSquared has reached a deal to end its Chapter 11 bankruptcy, but its largest creditor, satellite operator Charles Ergen, is not on board and "wasted the parties' time," according to a report from the court-appointed mediator.
June 27- Detroit and a group of hold-out creditors will meet on Monday over one of the last unresolved major issues in the city's historic bankruptcy case.
June 25- A sale of $185 million of revenue bonds on Wednesday for Detroit's public lighting authority had no problem finding buyers despite the fact the city remains in bankruptcy court.
The answer will determine what is left for Genco shareholders after its lenders and other creditors are repaid. Financial advisers at Blackstone, which was retained by Genco to value the company, argued the shipper was worth between $1.36 billion and $1.44 billion based on the market value of its ships and other assets.
Discussing the likelihood of bankruptcy for RadioShack, with Scott Tilghman, B.Riley senior retail analyst. He outlines two fundamental problems at the company: it hasn't evolved with the times, and traffic.
June 24- Nautilus Holdings Ltd, a Bermuda- chartered company that leases container ships, has filed for Chapter 11 bankruptcy protection in New York, becoming the latest victim of a depressed shipping industry. The company has about $770 million in debt, according to papers filed late Monday with the U.S. Bankruptcy Court in Manhattan.
The deal was approved by U.S. Bankruptcy Court Judge Brendan Shannon in Wilmington three months after Brookstone filed for Chapter 11 bankruptcy protection when it saw sales fall as shoppers cut discretionary spending.
CAMDEN, N.J., June 20- Atlantic City's bankrupt Revel Casino Hotel has received court approval to borrow $23.9 million that it said would keep the 1,400- room resort operating for the coming month as it scrambles to find a buyer.
The failed Tokyo-based bitcoin exchange, Mt.Gox, received court approval on Tuesday to begin Chapter 15 bankruptcy proceedings in the United States.
June 17- The failed Tokyo- based bitcoin exchange, Mt Gox, received court approval on Tuesday to begin Chapter 15 bankruptcy proceedings in the United States as it awaits approval of a settlement with U.S. customers and a sale of its business.
A settlement has been reached in Detroit's historic bankruptcy case over the treatment of unsecured limited-tax general obligation bonds.
RIO DE JANEIRO, June 13- A judge approved a restructuring plan for Oleo e Gas Participacoes SA, the oil company controlled by Brazilian tycoon Eike Batista, according to a statement by the Rio de Janeiro court that heard the bankruptcy proceedings. Creditors of the company, formerly known as OGX Petroleo e Gas Participacoes SA, approved the plan on June 3.
June 11- Natrol Inc filed for bankruptcy on Wednesday, a day after a U.S. judicial panel consolidated several class actions accusing the health supplement maker of false marketing of its joint relief products.
WILMINGTON, Del, June 6- Bankrupt Energy Future Holdings, Texas's largest power company, received court approval on Friday for one of its main businesses to borrow $5.4 billion to carry out a refinancing that is key to its huge restructuring. Bankruptcy Judge Christopher Sontchi in Wilmington, Delaware.