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Bankruptcy

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  • Caesars Entertainment to buy affiliate Monday, 22 Dec 2014 | 8:13 AM ET

    LAS VEGAS— Caesars Entertainment Corporation says it will buy an affiliate as it tries to smooth the reorganization of a struggling division and balance its debt load. The Las Vegas casino giant says the merger with Caesars Acquisition Company will give it $1.7 billion in cash it needs to guarantee loans in a proposed bankruptcy deal it's pitched to creditors...

  • Dec 19- Caesars Entertainment Operating Co, the main operating unit of Caesars Entertainment Corp, said it would file for Chapter 11 bankruptcy protection by mid-next month to cut its burgeoning debt. Other units, including Caesars Entertainment, Caesars Entertainment Resort Properties and Caesars Growth Partners, will not be part of the court-supervised...

  • Dec 19- Caesars Entertainment Operating Co, the main operating unit of Caesars Entertainment Corp, said it would file for Chapter 11 bankruptcy protection by mid-next month as it tries to cut its burgeoning debt.

  • Dec 19- Binder& Binder, one of the largest social security disability firms in the United States, filed for Chapter 11 bankruptcy protection late on Thursday, court filings showed. U.S. Bank National Association and Capital One have agreed to provide debtor-in-possession financing of up to $26 million, the filings showed. The case is in the U.S. Bankruptcy Court...

  • Pension funding dilemma  Thursday, 18 Dec 2014 | 10:46 AM ET

    CNBC's Rick Santelli and Bradley Belt, former Pension Benefit Guaranty Corp. CEO, discuss the federal pension insurance system and risk to tax payers.

  • RadioShack hires advisory firm Tuesday, 16 Dec 2014 | 9:29 AM ET

    NEW YORK— RadioShack is bringing in FTI Consulting as an adviser in the midst of another round of cost cuts as the troubled electronics retailer warned again last week that it may have to seek bankruptcy protection. The company said in a regulatory filing on Tuesday that Carlin Adrianopoli, a senior managing director with FTI's corporate finance and...

  • Casino union defies deadline in Taj Mahal showdown Monday, 15 Dec 2014 | 5:26 PM ET

    ATLANTIC CITY, N.J.— A casino workers union in Atlantic City defied a company-imposed deadline Monday to withdraw its appeal of a court-ordered, cost-cutting package. Local 54 of the Unite-HERE union ignored the deadline imposed last week by Trump Entertainment Resorts to withdraw its appeal of a bankruptcy court order that terminated the union contract...

  • Dec 15- GT Advanced Technologies Inc altered its settlement with former partner Apple Inc to produce more near-term cash to support its emergence from bankruptcy, a lawyer for the sapphire maker told a court on Monday. The new terms should be worth $50 million more than the original settlement, according to an attorney for GT noteholders, providing financing...

  • DETROIT, Dec 10- Detroit will officially exit the biggest-ever U.S. municipal bankruptcy later on Wednesday, officials said, allowing Michigan's largest city to start a new chapter with a lighter debt load. The city will reissue $287 million of existing bonds and also borrow about $275 million from Barclays Capital to finance its exit from bankruptcy.

  • *Eneva says creditor protection plan to help preserve cash. *Eneva plan unlikely to hamper E.ON' s EBITDA, net income. SAO PAULO/ FRANKFURT, Dec 10- Eneva SA, the Brazilian power producer controlled by Germany's E.ON SE and tycoon Eike Batista, filed for creditor protection late on Tuesday after failing to refinance part of its 2.33 billion reais in debt.

  • *Bankruptcy protection petition will preserve cash- Eneva. SAO PAULO/ FRANKFURT, Dec 10- Eneva SA, the Brazilian power producer controlled by Germany's E.ON SE and Eike Batista, filed for creditor protection late on Tuesday, becoming the latest company founded by the tycoon to seek bankruptcy protection. E.ON gained control of Eneva, formerly MPX Energia SA, last...

  • UPDATE 1-Detroit set to exit bankruptcy on Wednesday Tuesday, 9 Dec 2014 | 4:56 PM ET

    Dec 9- Detroit's odyssey through the biggest-ever U.S. municipal bankruptcy will end on Wednesday when the city's debt adjustment plan will take effect, Michigan Governor Rick Snyder's office said on Tuesday. In a letter, Snyder accepted Detroit Emergency Manager Kevyn Orr's declaration that the city's financial emergency is over and that it was time for his...

  • Dec 8- Teen apparel retailer Delia* s Inc filed for Chapter 11 bankruptcy protection and said it had hired advisers to help liquidate its assets. Delia* s said on Monday Salus Capital Partners LLC will give it a $20 million debtor-in-possession credit facility to continue operations, conduct store closings and closeout sales. The case is In re: Delia* s Inc, U.S....

  • Delia*s files for Chapter 11 bankruptcy protection Monday, 8 Dec 2014 | 7:54 AM ET

    Dec 8- Teen apparel retailer Delia* s Inc filed for Chapter 11 bankruptcy protection and said it had hired advisers to help liquidate its assets. The company listed total assets of $74 million and liabilities of $32.2 million in its filing on Sunday with a U.S. bankruptcy court. The company also said Chief Executive Tracy Gardner and Chief Operating Officer Brian...

  • As part of a report to be issued on Monday, the American Bankruptcy Institute's Commission to Study the Reform of Chapter 11 recommended eliminating a rule that at least one impaired creditor class must vote to accept a company's bankruptcy exit plan for the plan to be eligible for court approval. The rule allows savvy investors to block restructuring efforts...

  • Dec 5- Delia* s Inc said it was liquidating assets and would file for Chapter 11 bankruptcy protection "in the very near term," becoming the second teen retailer to go out of business in as many days. Delia* s announcement wiped out more than 85 percent of the company's market value on Friday. Sales at Delia* s, which has 95 mall-based stores, has fallen for six quarters in a...

  • Apparel retailer Delia*s to file for bankruptcy Friday, 5 Dec 2014 | 9:35 AM ET

    Dec 5- Teen apparel and accessories retailer Delia* s Inc said it was liquidating assets and would file for Chapter 11 bankruptcy protection "in the very near term," wiping out more than 85 percent of its market value. New York- based Delia* s, which launched a review of strategic alternatives in September, said it was unable to sell itself or secure financing to allow it...

  • Dec 3- The trustee overseeing the bankruptcy of a Massachusetts pharmacy linked to a 2012 meningitis outbreak that killed 64 people, filed a plan that would set aside at least $135 million to compensate victims and their families. When NECC entered bankruptcy, many people doubted that the victims would ever receive compensation through the bankruptcy...

  • Bitcoin exchange Kraken to help in Mt. Gox bankruptcy Wednesday, 26 Nov 2014 | 4:49 AM ET

    TOKYO, Nov 26- U.S. bitcoin exchange operator Payward Inc said on Wednesday it will work on retrieving some millions of dollars lost by Tokyo- based Mt. Gox's Tokyo- court appointed trustee Nobuaki Kobayashi with investigating where the missing bitcoins are, along with eventually redistributing any found to creditors as part of a liquidation.

  • DETROIT, Nov 24- Detroit is eying a date between Dec. 8 and 10 for its debt adjustment plan to take effect, allowing the city to exit the biggest-ever municipal bankruptcy, an attorney said on Monday. Heather Lennox, Detroit's attorney with law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the city expects to complete a budget that incorporates...