The order by Judge Steven Rhodes comes after Detroit said in a court filing earlier this week that it had dropped the concept of a Great Lakes Water Authority from its plan to adjust $18 billion of debt and other obligations and exit from the biggest municipal bankruptcy in U.S. history.» Read More
April 16- Signaling a tougher stance toward legal claims stemming from its recent recall over faulty ignition switches, General Motors Co said it will ask a U.S. court to bar lawsuits related to actions before its 2009 bankruptcy.
April 16- General Motors Co said it would ask a U.S. bankruptcy court to bar plaintiffs from proceeding with lawsuits against the automaker for claims related to any actions before it filed for bankruptcy in 2009.. The Texas case was in Re: Charles Silvas and Grace Silvas vs. General Motors LLC in the U.S. District Court, Southern District of Texas, No. 2:14- CV-00089.
April 16- General Motors Co said it will ask a U.S. bankruptcy court to bar plaintiffs from proceeding with lawsuits against the automaker for claims related to any actions before it filed for bankruptcy in 2009.. The California case was in Re: Galdina Maciel et al. vs.
Gox bitcoin exchange in Tokyo is headed for liquidation after a court rejected its bankruptcy protection application.
DETROIT— General Motors revealed in court filings late Tuesday that it will soon ask a federal bankruptcy judge to shield the company from legal claims for conduct that occurred before its 2009 bankruptcy.
China's growth slows to 7.4 percent in 1 Q Credit Suisse profits down 34 percent GM to ask bankruptcy court for lawsuit protection Asia shares rise, shrug off slower China growth US stock markets rebounds after choppy day Yahoo's 1 Q highlighted by Alibaba, modest ad gains Intel reports lower 1 Q net income, higher revenue Twitter buys data analytics partner Gnip GM sales eyed for impact of ignition switch recall Yellen signals more aggressive stance toward banks
China's economic growth slows to 7.4 percent, raising risk of job losses, impact on trade Credit Suisse profits down 34 percent as revenues fall at investment bank General Motors to ask bankruptcy court to shield it from ignition claims before bankruptcy Asian stock markets rise, shrug off slower Chinese economic growth US stocks rebound from midday slump, extending modest gains for second day Yahoo's 1st- quarter results propelled by Alibaba investment while ad sales start to pick up Intel reports lower 1st- quarter net income amid PC slump but revenue inches higher Twitter buys data analytics partner Gnip for undisclosed sum General Motors sales watched for impact of spate of ignition switch recalls Yellen says rules might need to be strengthened further to bolster largest banks
April 15- Detroit reached its first deal with a retired workers group on Tuesday over pension and healthcare benefits and was close to a deal with at least one of its pension funds, giving a major boost to the city's plan to exit bankruptcy in October.
CNBC's Scott Cohn reports Detroit has reached a deal with retirees on pension cuts.
The city of Detroit has reached a deal with retired police officers and firefighters that would preserve current pensions.
Bankruptcy judges in the U.S. and Canada have agreed on a June 13 deadline for claims that relate to fiery disaster in which 47 people were killed in Lac Megantic, Quebec. A U.S. bankruptcy judge in Maine also has granted a moratorium on further asset-liquidation plans in the case.
April 14- Mark Karpeles, the founder of Mt. Gox lawyers cited a subpoena from the U.S. Department of Treasury's Financial Crimes Enforcement Network, which has closely monitored virtual currencies like bitcoin. The court papers also said a Japanese court had been informed of the issue and that a hearing was scheduled on Tuesday in Japan.
April 13- Silicone and quartz producer Momentive Performance Materials Inc, owned by Apollo Global Management LLC, on Sunday filed for Chapter 11 bankruptcy protection as part of a "restructuring support agreement" with some of its creditors.
RIO DE JANEIRO, April 11- Eike Batista, who was Brazil's richest man for most of the past decade, is under investigation for allegedly engaging in insider trading while he chaired his now-bankrupt oil-producing and shipbuilding firms, securities industry watchdog CVM said on Friday.
RIO DE JANEIRO, April 11- Eike Batista, who was Brazil's richest man for most of the past decade, is under investigation by securities industry watchdog CVM for allegedly engaging in insider trading while he chaired his now-bankrupt oil-producing and shipbuilding firms.
DETROIT, April 11- Detroit's plan to get out of bankruptcy cleared a major hurdle on Friday when a U.S. Bankruptcy Court judge approved the cash-strapped city's third attempt at settling costly interest-rate swap agreements with two investment banks.
A federal judge's approval of Detroit's settlement with two banks marks a turning point in the city's reorganization.
JACKSON, Miss.— A Jackson man was indicted Wednesday on charges that he defrauded his bankrupt business of more than $9 million. William "Butch" Dickson faces charges in U.S. District Court in Jackson.
A U.S. Bankruptcy Court judge approved Detroit's third try at settling costly interest-rate swap agreements.
CNBC's Scott Cohn reports the judge in Detroit's bankruptcy has approved an $85 million settlement between the city and Bank of America and UBS over swaps contracts.