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Bankruptcy

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  • Bankruptcy wrangling for ex-Trump, Revel casinos Tuesday, 25 Nov 2014 | 12:32 PM ET

    ATLANTIC CITY, N.J.— Some of the hottest action in Atlantic City involves closed casinos in bankruptcy court, where Donald Trump is trying to recoup rent he paid on a driveway and the city is fighting to collect more than $50 million in unpaid taxes. Despite maintaining that a division of Trump Entertainment Resorts— the company he once ran but no longer has...

  • Revel fights city's collection of back taxes Tuesday, 25 Nov 2014 | 11:28 AM ET

    ATLANTIC CITY, N.J.— The former Revel Casino Hotel is trying to block Atlantic City from collecting $32 million in unpaid property taxes. The owners of the former Atlantic City casino, which closed on Sept. 2, filed an appeal Monday of a bankruptcy court order letting Atlantic City hold a tax sale of the unpaid debt. Complicating things is the fact that a deal to sell...

  • 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...

  • Court confirms reorg plan for LDK subsidiaries Monday, 24 Nov 2014 | 8:12 AM ET

    NEW YORK— LDK Solar said Monday that a U.S. bankruptcy court has confirmed the reorganization plan for three of its subsidiaries. Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware confirmed the plan for LDK Solar Systems Inc., LDK Solar USA Inc. and LDK Solar Tech USA Inc. The subsidiaries had filed to reorganize under Chapter 11...

  • Alco Stores to close following bankruptcy order Friday, 21 Nov 2014 | 5:10 PM ET

    DALLAS— Small-town discount retailer Alco Stores will close after a U.S. Bankruptcy Court in Dallas approved an order by the company's creditors to shutter its stores. Alco, based in the Dallas suburb of Coppell, said at the time that it intended to stay in business while reorganizing. The company last year moved its headquarters to Texas from Abilene, Kansas.

  • NEW YORK, Nov 21- Aereo Inc, the online video streaming company backed by media mogul Barry Diller, has filed for bankruptcy protection. In a filing with the U.S. Bankruptcy Court in New York, Chief Financial Officer Ramon Rivera said getting protection from creditors should provide "necessary breathing room" for Aereo to sell its assets, recapitalize or...

  • TV-over-Internet service Aereo seeks Chapter 11 Friday, 21 Nov 2014 | 1:05 PM ET

    The Supreme Court ruled this summer that Aereo had been operating like a cable TV company, meaning that unless it paid broadcasters licensing fees, it was in violation of copyright law. The company got its start in New York and had expanded to about 10 other metropolitan areas, including Boston, Houston and Atlanta, though it never disclosed how many subscribers...

  • UPDATE 2-Aereo files for bankruptcy Friday, 21 Nov 2014 | 9:41 AM ET

    NEW YORK, Nov 21- Aereo Inc, the video streaming company backed by media mogul Barry Diller, has filed for bankruptcy protection. Aereo Chief Executive Officer Chet Kanojia said the decision created "regulatory and legal uncertainty" that proved insurmountable for the New York- based company, which is privately held. Lawton Bloom, a principal at Argus Management...

  • Aereo files for Chapter 11 bankruptcy protection Friday, 21 Nov 2014 | 9:03 AM ET

    NEW YORK— Online streaming service Aereo says that it has filed for Chapter 11 bankruptcy protection, saying an unfavorable ruling by the U.S. Supreme Court was too difficult to overcome. Netflix, Amazon and Hulu offer full episodes of popular shows from broadcast networks ABC, NBC and Fox like "The Colbert Report" the next day for free. CEO Chet Kanojia said in a...

  • Nov 21- Television streaming service Aereo Inc filed for bankruptcy protection after a U.S. Supreme Court ruled in June that the company's business model violated copyright laws. The ruling was a victory for broadcasters such as CBS Corp, Comcast Corp's NBC, Walt Disney Co's ABC and Twenty-First Century Fox Inc's Fox network. The filing is In re: Aereo Inc, U.S....

  • TV streaming provider Aereo files for bankruptcy Friday, 21 Nov 2014 | 6:29 AM ET

    Nov 21- Television streaming service Aereo Inc filed for bankruptcy protection after a U.S. Supreme Court ruling in June found that the company's business model violated copyright laws. Aereo, in which Barry Diller's IAC/InterActiveCorp has a 23.30 percent stake, filed for Chapter 11 protection to preserve the value of its estate, according to a court filing...

  • NHL star's parents lead him into bankruptcy Thursday, 20 Nov 2014 | 12:42 PM ET
    Jack Johnson of the Columbus Blue Jackets skates against the Detroit Red Wings on November 18, 2014 at Nationwide Arena in Columbus, Ohio.

    The Columbus Blue Jackets player filed for bankruptcy in October after his parents poorly managed his assets for four years.

  • Caesars, creditors consider turning unit into REIT Wednesday, 19 Nov 2014 | 6:14 PM ET

    Caesars Entertainment proposed a restructure plan that would the debt of its largest unit into a real estate investment trust.

  • Brookfield halts plan to buy Atlantic City's Revel Wednesday, 19 Nov 2014 | 6:09 PM ET
    The Revel Casino in Atlantic City on July 30, 2014.

    Brookfield is abandoning its plan to buy the former Revel Casino Hotel in Atlantic City.

  • Nov 19- Creditors of GT Advanced Technologies complained in a bankruptcy court filing that the sapphire company may have gotten too little in its proposed settlement with Apple Inc over legal claims stemming from a deal to supply sapphire screens. GT Advanced shocked investors by filing for bankruptcy in October in a case that was initially shrouded in...

  • Court to consider when second mortgage can be void Monday, 17 Nov 2014 | 9:43 AM ET

    The justices will consider two appeals from Bank of America, which asserts that bankrupt homeowners should not be able to "strip off" a second loan even if they are underwater on primary loans. Both cases involve Florida homeowners who were allowed to nullify second loans held by Bank of America. The Atlanta- based 11th U.S. Circuit Court of Appeals affirmed both...

  • DETROIT, Nov 12- The federal judge who approved Detroit's plan for exiting the biggest-ever U.S. municipal bankruptcy gave the city on Wednesday the go-ahead for putting the plan in motion. Bankruptcy Judge Steven Rhodes said at a hearing. Rhodes on Friday ruled Detroit's plan for cutting $7 billion of its $18 billion of debt was fair to creditors and feasible...

  • Nov 11- Debt-strapped casino operator Caesars Entertainment Corp has reached an agreement with key senior creditors on the outline of a restructuring plan that includes a prearranged bankruptcy for its largest unit as soon as January, Bloomberg reported, citing two people with knowledge of the negotiations. Under the plan being negotiated by first-lien...

  • Nov 11- Debt-strapped casino operator Caesars Entertainment Corp has reached an agreement with key senior creditors on the outline of a restructuring plan that includes a prearranged bankruptcy for its largest unit as soon as January, Bloomberg reported, citing two people with knowledge of the negotiations. Under the plan being negotiated by first-lien...

  • Dendreon files for bankruptcy     Tuesday, 11 Nov 2014 | 11:00 AM ET

    What led Dendreon, the company that pioneered a drug many considered the next big thing in cancer research, to file for bankruptcy?