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
SAO PAULO, Jan 24- Bankrupt oil producer Ôleo e Gás Participações SA will delay presenting its restructuring plan to creditors, initially scheduled for Friday, two sources familiar with the situation told Reuters. Ôleo e Gás, formerly known as OGX Petróleo e Gas Participações SA, and creditors are discussing terms of a potential $200 million debtor-in-possession loan, said the sources, who declined to be identified because the talks are private.
NEW YORK, Jan 23- One year after hiring a new chief executive to help it recover from a near brush with bankruptcy, E* Trade Financial Corp said it earned $57.9 million in the fourth quarter, reversing a year-earlier loss, as clients revved up trading while costs for bad loans fell.
Paul Mangiamele, Bennigan's president & CEO, discusses how he brought Bennigan's back from bankruptcy and how is about to do the same for Steak and Ale. "Great brands and great companies are tremendously resilient," Mangiamele says.
CNBC's Scott Cohn reports that Gov. Rick Snyder has introduced a $350 settlement designed to pay Michigan retirees who would otherwise face pension cuts.
Michigan Gov. Rick Snyder will support an aid package to protect the pensions of Detroit retirees, mediators say.
Jan 17- Specialty chemicals maker Freedom Industries Inc filed for Chapter 11 bankruptcy protection on Friday, eight days after a leak from one of its storage tanks contaminated drinking water for hundreds of thousands of West Virginia residents.
Freedom Industries filled for bankruptcy on Friday, eight days after a leak from one of it's storage tanks contaminated drinking water in W. Virginia.
Jan 17- Specialty chemicals maker Freedom Industries Inc filed for Chapter 11 bankruptcy on Friday, eight days after a leak from one of the company's storage tanks contaminated drinking water for hundreds of thousands of West Virginia residents.
The company estimated it had up to $10 million in both assets and liabilities, according to a filing with the U.S. Bankruptcy Court in Charleston, West Virginia.
*Closed auction to be held in New York. WILMINGTON, Del., Jan 17- A Chinese auto parts maker and a Hong Kong businessman will square off in an auction for Fisker Automotive, the defunct maker of a plug-in hybrid sports car, a U.S. Bankruptcy Court judge ruled on Friday.
A bankruptcy judge says Detroit can't proceed with a plan to extricate itself from costly long-term financial contracts by paying $165 million to two big banks. The NYT reports.
CNBC's Scott Cohn reports Detroit's bankruptcy judge said the city's interest-rate swap agreement is "too high a price to pay" and has rejected the deal.
DETROIT'S $165 MLN PAYMENT TO END SWAPS "TOO HIGH A PRICE TO PAY," U.S.
BANKRUPTCY JUDGE REJECTS DEAL TO END DETROIT'S COSTLY INTEREST-RATE SWAP AGREEMENTS.
Bankruptcy Judge Allan Gropper in Manhattan said a higher payout of $14.17 billion might be in order because Anadarko's Kerr-McGee Corp unit intended to harm Tronox creditors by saddling the spinoff with unsustainable environmental liabilities.
Jan 13- The federal bankruptcy judge presiding over the liquidation of assets related to Bernard Madoff's Ponzi scheme has died, a clerk to the U.S. Bankruptcy Court in New York said on Monday. Bankruptcy Judge Burton Lifland, 84, died on Sunday, according to the clerk, Vito Genna.
DETROIT, Jan 13- The agreement struck with two banks by Detroit to end toxic interest rate swap agreements was not in the best interest of the city, the groups objecting to the deal said during closing arguments in a bankruptcy court hearing on Monday.
Donors have put up $330 million to help Detroit with its underfunded pensions and head off the possibility the city would have to sell its art.
FRANKFURT, Jan 13- The German state of Bavaria may offer insolvent bookseller Weltbild financial backing to try to avert thousands of job losses, a newspaper cited Bavarian state premier Horst Seehofer as saying.
FRANKFURT, Jan 10- Roman Catholic Church- owned bookseller Weltbild, which competes with online retailer Amazon.com in Germany, filed for insolvency on Friday after its sales shrank and it unexpectedly found itself unable to obtain fresh financing.