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  • Oct 21- Apple and GT Advanced Technologies Inc struck an agreement on Tuesday that will let GT begin the shutdown of key Arizona operations, and shed some more light on why the former stock market darling abruptly filed for bankruptcy this month. A lawyer for GT, Apple's erstwhile sapphire supplier, described the deal at a hearing in U.S. Bankruptcy Court in...

  • GT Advanced parting ways with Apple Tuesday, 21 Oct 2014 | 4:47 PM ET
    Pedestrians pass in front of an Apple store in New York.

    GT Advanced can start shuttering a plant in Mesa, Arizona, that Apple had helped finance in return for exclusive supply of sapphire.

  • DETROIT, Oct 21- The U.S. judge overseeing Detroit's historic bankruptcy dropped hints on Tuesday on what he wants to hear in the city's closing statements and what he may be scrutinizing in creditor settlements. "We are getting finality and stability going forward," state-appointed Emergency Manager Kevyn Orr told U.S. Bankruptcy Court Judge Steven Rhodes,...

  • Oct 21- A lawyer for GT Advanced Technologies Inc, a specialty glass supplier of Apple Inc, told a bankruptcy court on Tuesday the company was close to a settlement with the iPhone maker over access to information. Scant details have emerged since GT Advanced filed for bankruptcy on Oct. 6, wiping out most of its market value and triggering speculation as to what may...

  • DETROIT, Oct 21- The federal judge overseeing Detroit's historic bankruptcy case wants the city to explain its settlements with creditors and its exit financing in closing arguments next week, he said on Tuesday. Detroit Mayor Mike Duggan had raised concerns about the financing for the city's bankruptcy exit when he testified earlier this month, as well as the...

  • District Judge Shira Scheindlin in New York ordered Wyly and the estate of his late brother Charles to pay damages of $187.7 million plus interest to the SEC, after a jury found them liable for fraud in May. The SEC has since said the total, including interest, should be $299.4 million, which is one of the largest awards ever sought from individual defendants in a U.S....

  • District Judge Shira Scheindlin in New York ordered Wyly and the estate of his late brother Charles to pay damages of $187.7 million plus interest to the SEC, after a jury found them liable for fraud in May. The SEC has since said the total, including interest, should be $299.4 million, which is one of the largest awards ever sought from individual defendants.

  • Judge voids Trump Taj Mahal union contract: DJ  Friday, 17 Oct 2014 | 3:22 PM ET

    A federal judge has voided the union contract for the Trump Taj Mahal in Atlantic City. CNBC's Morgan Brennan reports the details.

  • Judge voids union contract with Trump Taj Mahal Friday, 17 Oct 2014 | 3:07 PM ET
    The Trump Taj Mahal in Atlantic City, N.J.

    A federal bankruptcy court judge voided a union contract with Atlantic City's Trump Taj Mahal Casino Resort on Friday.

  • Detroit in deal with its biggest holdout creditor Friday, 17 Oct 2014 | 9:52 AM ET

    Detroit reaches a settlement deal with its biggest creditor, reports the New York Times.

  • Crucial ruling due on Taj Mahal casino's future Friday, 17 Oct 2014 | 8:20 AM ET
    The Trump Taj Mahal in Atlantic City, N.J.

    A bankruptcy court judge will issue what the owners of Atlantic City's Trump Taj Mahal Casino Resort consider a life-or-death decision for the casino.

  • DETROIT, Oct 16- Detroit announced on Thursday a last-minute settlement with its final major holdout creditor, Financial Guaranty Insurance Co., as it edged closer to exiting the biggest-ever municipal bankruptcy. Corinne Ball, an attorney at law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the settlement includes an option for FGIC to...

  • Eagle Bulk Shipping cuts debt by 80 pct, shares skyrocket Thursday, 16 Oct 2014 | 12:01 PM ET

    Oct 16- Eagle Bulk Shipping Inc's shares shot up to as much as $15.46 from 68 cents as the company cut its borrowings by about 80 percent after converting debt into equity under a financial restructuring program. Excess capacity in the past couple of years has forced several shipping companies to file for bankruptcy, including Genco Shipping& Trading Ltd,...

  • DETROIT, Oct 16- A settlement between Detroit and its last major holdout creditor, Financial Guaranty Insurance Co, resolves all issues involving the city's outstanding pension debt, an attorney for the city said on Thursday. Corinne Ball, an attorney at law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the settlement includes an option for...

  • BRASILIA/ RIO DE JANEIRO, Oct 16- An iron-ore mining company controlled by Brazilian tycoon Eike Batista filed for bankruptcy on Wednesday, the third time in a year that a unit of the former billionaire's EBX industrial group has sought protection from creditors. MMX Sudeste Mineracao SA, the company that made the petition, holds nearly all the significant...

  • BRASILIA, Oct 15- The main subsidiary of Brazilian tycoon Eike Batista's iron ore mining company MMX Mineracao e Metalicos SA filed a bankruptcy protection petition before a Brazilian court on Wednesday. MMX Sudeste Mineracao SA, the unit that holds MMX's main mining assets, made the request after negotiations with creditors and efforts to seek new investors...

  • BRASILIA, Oct 15- A unit of Brazilian tycoon Eike Batista's iron-ore mining company MMX Mineracao e Metalicos SA made an "urgent" bankruptcy protection petition before a Brazilian court on Wednesday.

  • Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation about what may have soured its Apple relationship and torpedoed its prospects. GT Advanced cited strict confidentiality requirements in its Apple contracts which, if violated, carry fines of $50...

  • DETROIT, Oct 15- Ordinary Detroit residents sounded off with passion and anger on Wednesday as they gave a federal judge their views on the city's plan to exit its historic municipal bankruptcy. Bankruptcy Judge Steven Rhodes began a hearing on Sept. 2 to determine if Detroit's plan to restructure $18 billion in debt is fair and feasible. Some residents of...

  • Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation as to what may have soured its Apple relationship and torpedoed its prospects. GT Advanced cited strict confidentiality requirements in its Apple contracts which, if violated, carry fines of $50...