March 5- USEC Inc filed for bankruptcy after struggling with weak prices for the enriched uranium it supplies to nuclear power plants and difficulties in financing a major project. USEC has also been hit by delays in securing funding for its American Centrifuge Project in Ohio.» Read More
NEW YORK, Feb 28- Analysts at Fitch Ratings on Friday cut some $4 billion worth of bonds issued on behalf of the Water and Sewerage Department of Detroit to junk, citing the weak finances and outlook for the system run by the bankrupt city.
*Bitcoin exchange files for Ch. 11- type bankruptcy protection in Japan. *Investor lawsuit filed in Chicago seeking to recoup losses.
Like other bitcoin evangelists, Ken Shishido is ready to write off the money he lost in the bankruptcy of virtual currency exchange Mt. Gox.
*Investors drawn to transparency, lack of official control. TOKYO, Feb 28- Like other bitcoin evangelists, Ken Shishido is ready to write off the money he lost in the bankruptcy of Tokyo- based virtual currency exchange Mt. Shishido, who lives in Tokyo, was one of about 10,000 investors in Japan who became creditors in Mt.
*Bitcoin exchange files for Ch. 11- type bankruptcy protection in Japan. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system.
Chief executive Mark Karpeles, bowing in contrition and wearing a suit instead of his customary T-shirt, apologised in Japanese at a news conference for the company's collapse, blaming "a weakness in our system."
Gox, once the world's biggest bitcoin exchange, has filed for bankruptcy protection at the Tokyo District Court, Japanese media reported on Friday. The website of Tokyo- based Mt. Gox went dark on Tuesday, raising concerns about the future of the unregulated virtual currency.
Oleo e Gas, formerly known as OGX, filed Latin America's largest ever bankruptcy on Oct. 30. OSX gets nearly all of its revenue from Oleo e Gas and its a principal creditor of the company. Both OSX and Oleo e Gas are controlled by Brazilian tycoon Eike Batista.
Quiznos is preparing to file for bankruptcy within a few weeks as it battles with declining sales, The Wall Street Journal reported.
The judge in the historic Detroit bankruptcy has laid out the next steps for city, which could have the it emerging from bankruptcy by fall.
The attacks on the blueprint unveiled Friday mark the start of the kind of litigious, acrimonious battle city officials are hoping to avoid.
Detroit's emergency manager filed a plan for emerging from the largest municipal bankruptcy in U.S. history.
Detroit's emergency manager has filed a plan detailing the city's eventual exit from bankruptcy, reports CNBC's Carl Quintanilla.
"Upon consideration of the petitions to appeal and the responses thereto, a direct appeal to this court is warranted," the 6th U.S. Circuit Court of Appeals in Cincinnati said in an order filed on Friday. A federal bankruptcy judge in a landmark December ruling said Detroit was eligible to pursue its bankruptcy case.
NEW YORK, Feb 21- A U.S. appeals court on Friday said it would hear appeals by seven groups of petitioners, including pension plans for Detroit's police and firefighters, of the city's eligibility for bankruptcy.
OSX is also controlled by Batista and is an Oleo e Gas creditor. OSX gets nearly all its revenue by leasing oil-production ships to Oleo e Gas. Oleo e Gas, formerly known as OGX Petroleo e Gas Participações SA, filed Latin America's largest-ever bankruptcy protection petition on Oct. 30.
The ruling also allows the inclusion of Oleo e Gas overseas unit OGX International. "The decision recognized the needs of international commerce," said Marcio Costa, a lawyer for Sergio Bermudes Advogados in Rio de Janeiro which represents Oleo e Gas.
The city of Detroit is expected to release its restructuring plan in the next few days amid another bankruptcy hearing. CNBC's Scott Cohn explains the implications of Detroit's bankruptcy on the municipal bond market.
Detroit this week is expected to reveal its plan to settle with its creditors and emerge from bankruptcy.
WILMINGTON, Del, Feb 18- A unit of China's Wanxiang Group received U.S. bankruptcy court approval on Tuesday to buy the assets of Fisker Automotive, a defunct manufacturer of plug-in hybrid sports cars that was funded in part with a U.S. government loan.