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Bankruptcy

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  • Madoff trustee seeks to release $1.2 billion to investors Wednesday, 15 Apr 2015 | 4:24 PM ET

    NEW YORK— A trustee recovering money for thousands of victims of Bernard Madoff's epic Ponzi scheme has asked a New York court to let him distribute another $1.2 billion. Irving Picard asked the U.S. Bankruptcy Court in Manhattan on Wednesday to approve the allocation. The payouts to individual investors would range from $1,082 to $168 million, with an average...

  • Germany declines comment on Greek bankruptcy plan report Wednesday, 15 Apr 2015 | 6:12 AM ET

    BERLIN, April 15- The German government declined comment on Wednesday on a story in German weekly Die Zeit which said Berlin was working on a plan that would allow Greece to receive financing from the European Central Bank even if it missed payments to creditors. "The plan under discussion is aimed at allowing he ECB to continue financing of Greece in the event of...

  • MOSCOW, April 15- Russia's top lender, Sberbank, plans to file a bankruptcy lawsuit against Mechel after talks on restructuring the steel producer's debt failed, RIA news agency quoted Sberbank's head, German Gref, as saying on Wednesday.

  • US firms seek bankruptcy at fastest rate since 2010 Tuesday, 14 Apr 2015 | 7:53 PM ET

    The number of bankruptcies among publicly traded U.S. companies has climbed to the highest first-quarter level for five years.

  • WILMINGTON, Del, April 14- The number of bankruptcies among publicly traded U.S. companies has climbed to the highest first-quarter level for five years, according to a Reuters analysis of data from research firm bankruptcompanynews.com. The $34 billion in assets held by the 26 companies is the second highest for a first quarter in the past decade.

  • NEW YORK— EveryWare Global Inc., the company behind Oneida and Anchor Hocking plates, forks and spoons, said Wednesday that it is has filed for Chapter 11 bankruptcy protection as part of a prepackaged deal with lenders that will enable it to stay in business. The company has $380.4 million in liabilities and $237.8 million in assets, according to court filings.

  • The company listed assets of $100 million to $500 million and liabilities of $500 million to $1 billion in its petition in the Delaware bankruptcy court. EveryWare which was formed through the merger of Anchor Hocking LLC and Oneida Ltd in March 2012, markets and distributes products such as bakeware, storageware and cookware in the United States, Canada,...

  • April 2- A federal bankruptcy judge in New Jersey on Thursday said she would approve an $82 million sale of Atlantic City's Revel Casino Hotel to Florida developer Glenn Straub. U.S. Bankruptcy Court Judge Gloria Burns said from the bench that she would sign off on the deal, the third one she has approved. Before that, Brookfield Asset Management backed out of its...

  • WASHINGTON, April 1- As the U.S. Supreme Court on Wednesday considered the case of a Massachusetts homeowner battling his mortgage lender over a bankruptcy plan, several justices focused their attention on his unlikely ally: Bank of America Corp.. Bank of America, one of the largest U.S. banks, filed a friend-of-the-court brief in support of Louis Bullard, who owes...

  • April 1- EveryWare Global Inc, a marketer of cookware and tabletop products, said it expects to file for prepackaged bankruptcy that will give its lenders control of the company after it emerges from bankruptcy. Investment firm Monomoy Capital Partners is the company's largest shareholder with a 67.06 percent stake as of October, according to Thomson Reuters...

  • EveryWare Global to file for prepackaged bankruptcy Wednesday, 1 Apr 2015 | 8:49 AM ET

    April 1- EveryWare Global Inc, a marketer of tabletop and food preparation products, said it expects to file for prepackaged bankruptcy that will give its secured lenders control of the company after it emerges from the bankruptcy. EveryWare said it expects to file for a prepackaged Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware...

  • The company, which was acquired in a $7.2 billion deal in 2011 by a team of investors led by KKR& Co, had a total debt of about $3.9 billion as of Dec. 31. The company had earlier hired restructuring advisers Kirkland& Ellis LLP and Blackstone Group LP, according to a person familiar with the matter. The Tulsa, Oklahoma- based company, which had about $23.8 million in cash...

  • Samson Resources, which was acquired in a $7.2- billion deal in 2011 by a team of investors led by KKR& Co, had a total debt of $3.9 billion as of Dec. 31.

  • SAO PAULO, March 31- Brazilian engineering conglomerate Grupo OAS requested court protection from creditors for nine of its units on Tuesday as it grapples with the fallout from a scandal at state-controlled Petrobras, a key customer. Under terms of the petition, which OAS filed in a São Paulo state court, the company sought creditor protection for...

  • Under terms of the petition, which OAS filed in a São Paulo state court, the company sought creditor protection for Construtora OAS SA, OAS SA, OAS Imóveis SA, SPE Gestão e Exploração de Arenas Multiuso, OAS Empreendimentos SA, OAS Infraestrutura SA, OAS Investments Ltd, OAS Investments GmbH e OAS Finance Ltd..

  • NEW YORK, March 30- A federal judge on Monday dismissed a lawsuit accusing Philip Falcone and his Harbinger Capital Partners LLC of misleading investors by taking a majority stake in wireless company LightSquared Inc without disclosing the investment or its risks. Once known as SkyTerra Communications Inc, LightSquared filed for bankruptcy protection in...

  • WILMINGTON, Del, March 27- A lender to bankrupt RadioShack Corp told a U.S. judge on Friday it was prepared to present a new offer that was a "significant improvement" over a rival proposal that was selected as a winning bidder at an auction this week. RadioShack's advisers declared that Standard General had outbid Salus, RadioShack's largest creditor, at a four-day...

  • LightSquared bankruptcy exit plan earns court approval Thursday, 26 Mar 2015 | 8:26 PM ET
    Charles Ergen, chairman and co-founder of Dish Network Corp

    LightSquared concluded three years of litigation with creditors, securing court approval of a plan to end its case and repay its largest creditor.

  • WILMINGTON, Del., March 26- A deal to keep 1,740 RadioShack Corp stores open hangs in the balance in a Delaware court after its top creditor, a losing bidder in an auction for the bankrupt retailer, called the process a "sham" and demanded a new sale. RadioShack, which filed for bankruptcy last month, told a U.S. While RadioShack's attorney told the court the deal saved...

  • March 26- Personal information gathered by RadioShack Corp from shoppers is not included in its sale, the consumer privacy ombudsman in the electronics retailer's bankruptcy case said in response to concerns shared by several states that the data could be sold. Her letter came as Oregon and Pennsylvania on Wednesday joined Texas and Tennessee in objecting...