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Bankruptcy

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  • Court approves sale of Crumbs Bake Shop Wednesday, 27 Aug 2014 | 3:02 PM ET

    NEW YORK— A federal bankruptcy court has approved the sale of cupcake chain Crumbs, which closed down its stores in July, to a group that includes investor and reality TV star Marcus Lemonis. The order from Judge Michael Kaplan of the U.S. Bankruptcy Court for the District of New Jersey was entered Wednesday.

  • Bankrupt Detroit offered bigger loan secured by art Wednesday, 27 Aug 2014 | 12:15 PM ET

    Aug 27- A New York- based specialty finance group is ready to loan Detroit as much as $4 billion, double its previous offer, if the bankrupt city uses the masterpieces in its art museum as collateral, according to a new proposal that surfaced this week.

  • The bondholders would participate in a $600 million rights offering, while JPMorgan Chase& Co would supply a $1.3 billion loan.

  • Aug 26- RadioShack Corp's second-largest shareholder, Standard General LP, is negotiating a rescue package with investors to help the consumer electronics retailer ward off bankruptcy, Bloomberg reported, citing people with knowledge of the matter.

  • Aug 26- RadioShack Corp's second-largest shareholder, Standard General LP, is negotiating a rescue package with investors to help the consumer electronics retailer ward off bankruptcy, Bloomberg reported, citing people with knowledge of the matter.

  • The session will include bond insurers that guaranteed payment on the COPs- Syncora and Financial Guaranty Insurance Co.. In an Aug. 12 court filing, Syncora lashed out at mediators, including Rosen, who brokered the grand bargain, which is also aimed at protecting the museum's artwork from being sold to pay Detroit creditors.

  • Judge OKs $1.5B Detroit bond repurchase plan Monday, 25 Aug 2014 | 12:50 PM ET

    Detroit expects the refinancing will result in savings projected at about $241 million over 26 years.

  • Reward offered for former billionaire's assets Wednesday, 20 Aug 2014 | 11:44 AM ET

    HELENA, Mont.— The trustee representing Yellowstone Club creditors offered a reward Wednesday to anyone who can help uncover property or bank accounts the luxury resort's co-founder might have hidden from bankruptcy proceedings.

  • Lamson said it plans to sell its main factory, enabling it to repay a $1.07 million loan to the U.S. Small Business Administration, which holds a first mortgage on the property. The privately held company was founded in 1837, the same year President Andrew Jackson left the White House and Queen Victoria began her 63- year reign in the UK.

  • Massachusetts cutlery maker files for bankruptcy Wednesday, 20 Aug 2014 | 8:25 AM ET

    BUCKLAND, Mass.— The nation's oldest cutlery manufacturer has filed for bankruptcy after 177 years of making knives and other kitchen tools.

  • NEW YORK, Aug 18- A judge said he will rule on Tuesday whether junior bondholders of Momentive Performance Materials, a quartz and silicone maker owned by Apollo Global Management, are being fairly pushed behind other creditors, a decision that could make or break Momentive's plan to cut $3 billion in debt and exit bankruptcy.

  • 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.

  • 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.

  • 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.

  • 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.