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Bankruptcy

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  • Bally Total Fitness Files Chapter 11 Bankruptcy Wednesday, 1 Aug 2007 | 7:08 AM ET

    Bally Total Fitness Holding, one of the largest U.S. health club operators, has filed for bankruptcy protection, after struggling in recent years with membership declines and too much debt.

  • Delphi

    A union representing more than 2,000 of Delphi's hourly workers said Friday it has told the auto parts maker that it plans to terminate its contracts, a first step toward a possible strike in October.

  • Tom's Foods Pension Plan Taken Over by Feds Monday, 16 Jul 2007 | 3:53 PM ET

    The Pension Benefit Guaranty Corporation, the federal agency that insures private defined-benefit pension plans, is taking over payments for nearly 3,000 workers and retirees of Tom's Foods.

  • Delphi Makes Pension Payment: Filing Friday, 13 Jul 2007 | 4:12 PM ET

    Delphi said in a regulatory filing Friday that it contributed about $48 million to its U.S. pension plans.  The amount represents the part of the pension contribution related to services rendered by Delphi employees in the second quarter of 2007, the auto supplier said in a filing with the U.S. Securities and Exchange Commission.

  • Judge Won't Cut New Parmalat From Suit Tuesday, 3 Jul 2007 | 2:01 AM ET

    Parmalat can be sued by shareholders in a suit involving its predecessor company, Parmalat Finanziaria's collapse into bankruptcy in 2003, a judge ruled.

  • Trump Entertainment Buyout Fizzles; Shares Plunge Monday, 2 Jul 2007 | 1:46 PM ET

    Casino operator Trump Entertainment Resorts said Monday it did not reach a deal with potential acquirers and has ended discussions to sell itself, sending its shares down 14 percent.

  • UAW Members Ratify Deal with Delphi Friday, 29 Jun 2007 | 1:39 PM ET
    Terry Frantz prepares the engine compartment of a Cadillac CTS at the GM Lansing Grand River assembly plant Monday, Jan. 7, 2002, in Lansing, Mich. (AP Photo/Al Goldis, Pool)

    The United Auto Workers said that members have ratified a deal that gives Delphi concessions on wages, benefits and plant closings the auto parts maker has said it must have to exit bankruptcy.

  • Northwest Airlines Blames Pilots for Flight Delays Wednesday, 27 Jun 2007 | 7:55 PM ET

    Eagan, Minn.-based Northwest, which emerged from Chapter 11 bankruptcy protection May 31, is citing a higher-than-normal rate of absentee calls as one of the key factors for recent flight delays.

  • Calpine Files Reorganization Plan Thursday, 21 Jun 2007 | 5:08 AM ET

    After 18 months in bankruptcy and billions of dollars in losses, power producer Calpine thinks its business is still worth $21.7 billion. But that doesn't necessarily mean there will be anything of value left for the company's current stockholders.

  • Delphi and UAW Close to Completing a Labor Deal Wednesday, 20 Jun 2007 | 12:04 PM ET

    Delphi and the United Auto Workers are very close to completing a labor deal the U.S. auto-parts maker needs to complete its reorganization, two UAW sources said on Wednesday.

  • New Century Financial has warned that its effort to liquidate assets could be stymied if General Electric Capital is allowed to proceed with plans to seize computers and other equipment it leased to the bankrupt housing lender.

  • Northwest Airlines, which is set to exit bankruptcy Thursday, is coming out of the restructuring process "really strong,"  Douglas Steenland, chief executive officer at Northwest Airlines, told CNBC.  Northwest's emergence from bankruptcy marks the end of a 20-month spell in Chapter 11 for the No. 5 U.S. carrier, and the first time in almost five years that a major U.S. airline has not been in bankruptcy.

  • Northwest Airlines Shares Could Debut Overvalued Sunday, 20 May 2007 | 5:04 PM ET

    Northwest Airlines is hoping for the highest valuation in its history when it emerges from bankruptcy protection May 31. But there are signs that it may be a little rich for some investors.

  • Delta Airlines

    Delta Air Lines’ stock began trading on the New York Stock Exchange Thursday after the company emerged from bankruptcy earlier this week, ending a 19-month restructuring.

  • A Delta jet taxis to its terminal.

    Delta Air Lines emerged from bankruptcy protection Monday as an independent carrier after surviving a hostile takeover bid during a 19 1/2-month reorganization that saw it eliminate jobs, cut costs, restructure its fleet and focus more on international flying.

  • A Delta jet.

    Michael Boyd, president of The Boyd Group, told CNBC’s “Squawk Box” that Delta Air Lines will be a “viable carrier” as it emerges from bankruptcy. The company emerged from bankruptcy Monday after a 19-month reorganization. It rejected a hostile takeover by US Airways Group. On Thursday, Delta’s stock will trade under its old symbol, DAL, on the New York Stock Exchange.

  • Delta Air Lines Gets OK to Exit Bankruptcy Wednesday, 25 Apr 2007 | 6:02 PM ET

    A federal bankruptcy judge approved a Delta Air Lines plan to exit bankruptcy after the nation's third-largest airline spent nearly 20 months in a wrenching reorganization that cut 6,000 jobs and slashed $3 billion in costs.

  • Vonage Legal Woes Could Lead to Bankruptcy Wednesday, 18 Apr 2007 | 4:25 AM ET

    nternet phone service provider Vonage Holdings, which was found to have infringed on three patents owned by Verizon Communications by a U.S. court, said its legal woes could lead to bankruptcy, according to a regulatory filing.

  • Delta Air Lines said more than 95% of its lenders voted in support of the bankrupt carrier's reorganization plan.

  • New Century Financial, the largest U.S. subprime lender under bankruptcy protection, was authorized to obtain up to $150 million of financing to keep it operating while in Chapter 11.