On Monday, home improvement retailer Lowe's Cos. said that it plans to expand its California operations by acquiring Orchard Supply for about $205 million in cash. Since Orchard Supply filed for bankruptcy protection, Lowe's offer will become the "stalking horse" bid for an auction of Orchard's assets.» Read More
*Raised $1.2 bln from investors, but cash has dwindled to $30 mln. DETROIT, April 5- Fisker Automotive, the struggling, government-backed hybrid sports car maker, said on Friday that it terminated most of its rank-and-file employees, in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing.
Corzine really wanted to do prop trading at MF Global. But he didn't want to call it prop trading. "Client facilitation" sounded better.
*MF Global trustee says expects former customers to be made whole. NEW YORK, April 5- MF Global on Friday won court approval of a plan to liquidate its assets, pay back creditors and end the $40 billion bankruptcy that rocked the financial world in 2011..
Spanish fishing company Pescanova said early on Friday it would file for insolvency after failing to reach an agreement with its creditors.
Jon Corzine's bets on European sovereign debt while head of MF Global Holdings led to the firm's collapse in 2011, according to the bankruptcy trustee.
Under the terms of a possible agreement, Jeffrey Skilling could be getting out of prison much earlier than expected, reports CNBC's Scott Cohn. (4:29)
Stockton and San Bernardino, the two California cities that have filed for bankruptcy protection, are both considered test cases in the epic battle over whether municipal bondholders or pensioners will absorb most of the pain when a government goes broke.
Airlines are facing a growing battle between leisure and business passengers, and New York City is in danger of losing its beloved (212) area code. CNBC's Bob Pisani and Jane Wells, discuss.
Stockton, California is becoming America's largest city to enter bankruptcy, with CNBC's Jane Wells; and Michael Sweet, Fox Rothschild lawyer and conservative strategist Ron Meyer, discuss.
It's official: Stockton, Calif., will become the nation's most populous city to enter into bankruptcy protection after getting clearance from a federal judge on Monday.
CNBC's Jane Wells reports a judge allowed Stockton, California, to move forward with Chapter 9 bankruptcy.
The Chapter 9 bankruptcy case for Stockton, Calif., is being closely watched nationally. At issue: Does federal bankruptcy law trump the California law that says debts to the state pension fund must be honored?
*Ray Lane, Leonardo DiCaprio among Fisker's investors. NEW YORK/ DETROIT, March 28- Fisker Automotive, the U.S.-backed maker of luxury plug-in hybrid sports cars, has hired law firm Kirkland& Ellis to advise it on a possible bankruptcy filing, a source said on Thursday, while executives continue their search for a strategic investor.
NEW YORK/ DETROIT, March 28- Fisker Automotive, the green-car company that has not built a car since July, has hired law firm Kirkland& Ellis to advise it on a possible bankruptcy filing, a person close to the matter said on Thursday.
DETROIT/ NEW YORK, March 28- Fisker Automotive, the green-car company that has not built a car since July, hired restructuring lawyers from Kirkland& Ellis to prepare for a possible bankruptcy filing, The Wall Street Journal reported on Thursday, citing people familiar with the matter. On April 22, Fisker must make a payment on a U.S. Department of Energy loan.
A judge approved AMR's plan to merge with US Airways, a step toward creating the world's largest airline.
*April 4 distribution to boost payout above $47 bln. March 27- Lehman Brothers Holdings Inc said on Wednesday it plans to distribute about $14.2 billion to creditors early next month, as the company winds down following its emergence last year from bankruptcy protection.
BEIJING/ BANGALORE, March 20- A group of Suntech Power Holdings Co Ltd lenders want the Chinese solar panel maker's main unit declared insolvent, a sign Beijing's support for the struggling industry is waning.
*Move could signal China's support for industry waning. BEIJING/ BANGALORE, March 20- A group of lenders has filed a petition for the main subsidiary of China- based solar panel maker Suntech Power Holdings to be declared insolvent, a sign the country's support for the loss-making industry may be waning.
LOS ANGELES, March 19- The bankrupt city of San Bernardino, California, approved over $1 million in pay increases for police and firefighters despite claims it can barely make payroll, let alone afford the salary hikes.