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Bankruptcy

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  • WASHINGTON, May 4- The U.S. Supreme Court on Monday ruled against a Massachusetts man battling his mortgage lender over a bankruptcy plan in a case in which the Obama administration and even Bank of America Corp had backed the homeowner. On a 9-0 vote, the court said Louis Bullard, who owes community bank Blue Hills Bancorp Inc $387,000 for the mortgage on a property...

  • CHICAGO, April 29- A judge on Wednesday allowed the operating unit of Caesars Entertainment Corp to control its bankruptcy for another month, as creditors try to reach common ground with a court-appointed investigator probing the company's pre-bankruptcy dealings. An independent examiner has been tapped to investigate whether the company's equity...

  • FRANKFURT, April 28- The head of Germany's Bundesbank criticised Greece's government on Tuesday for failing to implement reforms and said it was possible for a country within the currency union to become insolvent. "Member states must take responsibility for the consequences of their political decisions," Jens Weidmann, also a member of the European Central...

  • Money warning to rich athletes   Monday, 27 Apr 2015 | 8:42 AM ET
    Money warning to rich athletes

    Phil Buchanon, "New Money: Staying Rich" author, discusses the perils many high-paying young athletes face by getting rich quick and spending lavishly.

  • Ballers gone bankrupt   Monday, 27 Apr 2015 | 8:40 AM ET
    Ballers gone bankrupt

    "Squawk Box's" Joe Kermen reports results of a recent report by the National Bureau of Economic Research which shows one in six NFL players go bankrupt within 12 years of retirement.

  • Why Kaisa’s default isn’t a sign of more to come Tuesday, 21 Apr 2015 | 2:10 AM ET

    Despite fears Kaisa's bond default may herald of a wave of more to come from China, the developer's troubles may be more of a one-off soap opera.

  • April 16- The Internal Revenue Service is seeking to recoup $3.22 billion from Texas businessman Samuel Wyly and the estate of his late brother Charles Wyly, after the brothers allegedly hid income by setting up sham overseas trusts. According to claims filings on Wednesday with the U.S. bankruptcy court in Dallas, the IRS believes Samuel Wyly owes $2.03...

  • NEW YORK, April 15- General Motors Co will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that has been blamed for more than 200 deaths and serious injuries, a U.S. bankruptcy judge ruled on Wednesday. Bankruptcy Judge Robert Gerber means GM may avoid potentially billions of dollars in liability, as well as the cost of...

  • 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.

  • 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...