GO
Loading...

Bankruptcy

More

  • Aug 18- Atlantic City's Revel Casino Hotel is still seeking bidders in bankruptcy court, but its ability to find a buyer will improve once it closes and stops "bleeding money," its attorney said at a hearing on Monday. The hotel is scheduled to close after guests leave on Sept. 1, with gambling operations to cease at 5 p.m. the next day.

  • Lawyer: Revel still seeks sale, losing $1M weekly Monday, 18 Aug 2014 | 1:40 PM ET

    CAMDEN, N.J.— The troubled Revel Casino Hotel in Atlantic City still hopes to auction off its property but needs to close to stop big losses, a lawyer for it said. Attorney John Cunningham said in bankruptcy court Monday that the casino is losing more than $1 million every week, The Press of Atlantic City reported.

  • NEW YORK, Aug 18- Momentive Performance Materials, the quartz and silicone maker owned by Apollo Global Management, will embark Monday on a week of hotly contested hearings seeking court approval of a plan to cut $3 billion in debt and exit bankruptcy.

  • Lehman unsecured creditors to get distribution Friday, 15 Aug 2014 | 9:12 AM ET

    NEW YORK— Unsecured general creditors of Lehman Brothers will get $4.6 billion in their first round of payouts from the bankrupt investment bank next month.

  • New Jersey to hold summit to rescue Atlantic City Thursday, 14 Aug 2014 | 9:32 AM ET
    The Trump Taj Mahal, left, the Showboat Atlantic City Hotel and Casino, center, and Revel Atlantic City stand in Atlantic City, New Jersey.

    Christie and New Jersey Democrats have said Atlantic City's economy, heavily dependent on casinos, needs to be broadened.

  • Aug 13- A federal judge on Wednesday once again delayed the start of the key phase of Detroit's historic bankruptcy case, pushing it to Aug. 29 from Aug. 21.

  • UPDATE 1-Start of Detroit bankruptcy trial delayed a week Wednesday, 13 Aug 2014 | 6:04 PM ET

    Bankruptcy Judge Steven Rhodes on Wednesday pushed the start of the trial on Detroit's exit from the largest municipal bankruptcy in U.S. history to Aug. 29 from Aug. 21, with opening statements scheduled for the following Tuesday, Sept. 2.

  • Revel casino still talking with potential bidders Wednesday, 13 Aug 2014 | 1:48 AM ET

    ATLANTIC CITY, N.J.— A day after announcing it will shut down next month, Revel Casino Hotel told a bankruptcy court judge it is still negotiating with potential buyers. The filing follows Revel's announcement that will shut down by Sept. 10, having been unable to find a buyer.

  • Aug 12- A federal judge could once again push back the start date for the trial on Detroit's exit from the largest municipal bankruptcy in U.S. history after some creditors said on Tuesday a possible settlement is snarling key components of the restructuring plan.

  • Fitch flags 2 more casinos     Tuesday, 12 Aug 2014 | 2:23 PM ET

    Revel Casino is the fourth casino in Atlantic City to close this year. Insight to the resort's closing, with CNBC's Morgan Brennan.

  • Revel Casino fails to find buyer     Tuesday, 12 Aug 2014 | 1:10 PM ET

    Revel Casino in Atlantic City will be the fourth casino to close this year. CNBC's Morgan Brennan reports the casino is in bankruptcy.

  • AC's Revel to close after failing to find a buyer Tuesday, 12 Aug 2014 | 12:09 PM ET

    Atlantic City's Revel Casino Hotel says it will shut down in September after failing to find a buyer in bankruptcy court.

  • Revel Casino to close     Tuesday, 12 Aug 2014 | 9:15 AM ET

    Revel Casino in Atlantic City will close no later than September 10th after no bidders came forth to purchase the casino at auction. CNBC's Morgan Brennan reports.

  • WASHINGTON, Aug 11- Detroit's largest union said on Monday that the city's historic bankruptcy proceedings have given the management of the water and sewer department opportunities to disrupt bargaining units and strip union members of job protections.

  • Aug 11- Mobile service provider NII Holdings Inc, reporting its ninth quarterly loss in a row, said on Monday it may have to file for bankruptcy after struggling to compete in Brazil and Mexico. The company, which operates in Latin America under the Nextel brand, ended the second quarter with a net debt of $4.8 billion and with $1 billion in cash and investments.

  • No qualified bids for Atlantic City Revel: Report Monday, 11 Aug 2014 | 2:16 PM ET

    Revel's auction had already been postponed one week to allow for more time to review bids, court filings indicated.

  • Sheila Bair: What if banks fail now?     Thursday, 7 Aug 2014 | 4:26 PM ET

    Former chair of the FDIC Sheila Bair, gives her take on Bank of America's potential landmark settlement with the Justice Department, and shares her thoughts on "too big to fail."

  • Aug 7- The bankrupt Revel Casino Hotel in Atlantic City, New Jersey, has postponed an auction of the 1,400- room property by a week to Aug. 14 to allow more time to evaluate bids, according to a court filing late on Wednesday.

  • WASHINGTON, Aug 6- The city of Detroit is zeroing in on financing for its exit from bankruptcy and intends to have a committed lender in coming weeks, its lawyers told Bankruptcy Judge Steven Rhodes on Wednesday.

  • Remember these stores? Retailers that went bust Saturday, 2 Aug 2014 | 7:00 AM ET

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