Business Failures


  • Court rejects bankruptcy protection for Mt. Gox Wednesday, 16 Apr 2014 | 6:34 AM ET

    Gox bitcoin exchange in Tokyo is headed for liquidation after a court rejected its bankruptcy protection application.

  • GM to ask bankruptcy court for lawsuit protection Tuesday, 15 Apr 2014 | 10:48 PM ET

    DETROIT— General Motors revealed in court filings late Tuesday that it will soon ask a federal bankruptcy judge to shield the company from legal claims for conduct that occurred before its 2009 bankruptcy.

  • Energy Future Holdings misses filing deadline Tuesday, 15 Apr 2014 | 12:25 PM ET

    FORT WORTH, Texas— Energy Future Holdings is still not ready to file its already delayed annual report, the company said in a filing Tuesday with the federal Securities and Exchange Commission.

  • Deadline set for claims against bankrupt railroad Tuesday, 15 Apr 2014 | 4:43 AM ET

    Bankruptcy judges in the U.S. and Canada have agreed on a June 13 deadline for claims that relate to fiery disaster in which 47 people were killed in Lac Megantic, Quebec. A U.S. bankruptcy judge in Maine also has granted a moratorium on further asset-liquidation plans in the case.

  • Miss. man indicted in $9 million bankruptcy fraud Friday, 11 Apr 2014 | 12:50 PM ET

    JACKSON, Miss.— A Jackson man was indicted Wednesday on charges that he defrauded his bankrupt business of more than $9 million. William "Butch" Dickson faces charges in U.S. District Court in Jackson.

  • Coldwater Creek files for bankruptcy protection Friday, 11 Apr 2014 | 6:26 AM ET

    SANDPOINT, Idaho— The women's clothing retailer Coldwater Creek has filed for Chapter 11 bankruptcy protection after failing to find a potential buyer or a source of capital to help fund its turnaround efforts. Coldwater Creek said Friday that its stores and its website are still open and selling clothing and other goods to shoppers.

  • April 2- A plan being discussed to reorganize power company Energy Future Holdings Corp will all but wipe out the investments of owners KKR& Co, TPG Capital and Goldman Sachs Capital Partners, Bloomberg reported.

  • NEW YORK, April 1- U.S. retail investors have raced to scoop up the government's newly launched platinum coins, data shows, as industrial metals prices outperformed bullion, a long-time favorite among collectors. Platinum held by the world's major exchange-traded funds was currently at their highest level in at least four years, Reuters data showed.

  • Top Texas energy company on verge of bankruptcy Friday, 28 Mar 2014 | 3:57 PM ET

    March 28- Leading Texas power company Energy Future Holdings is widely expected to file for bankruptcy in the coming days, the victim of a record-breaking buyout that piled it with debt just as prices for its electricity plunged.

  • TOKYO, March 28- A deadline for a court-mandated investigation into why bitcoin exchange Mt. The Tokyo District Court had set a Friday deadline for Nobuaki Kobayashi, a partner at Nagashima Ohno& Tsunematsu, to report on his investigation into the collapse last month of what was once the world's largest bitcoin exchange.

  • March 26- Global Geophysical Services Inc, a provider of seismic data to oil and gas companies, filed for bankruptcy due to heavy debt and said it was seeking court approval for $60 million in debtor-in-possession financing. The company and some of its units made a Chapter 11 filing in the U.S. Bankruptcy Court in Corpus Christi, Texas.

  • Madoff trustee sees victims' payout nearing $6 bln Tuesday, 25 Mar 2014 | 5:04 PM ET

    NEW YORK, March 25- Former customers of Bernard Madoff will have recouped nearly $6 billion of their money if a federal bankruptcy judge approves the latest payout request by the trustee liquidating the swindler's firm.

  • NEW YORK, March 24- Detroit's emergency manager expects the city's $18 billion bankruptcy plan to win court approval by the fall despite obstacles such as a dispute over swap agreements and a vote by retirees on the plan that could potentially slow or derail the process.

  • *Heavy restocking seen in China, some gold scrap seen. LONDON, Feb 18- Net gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand but that disinvestment is tailing off this year, the World Gold Council said on Tuesday.

  • *Gold demand hit 4- year low as investors sold holdings. *Heavy restocking seen in China, some gold scrap seen.

  • Jan 28- CIT Group Inc reported a 37 percent fall in its quarterly profit as the century-old small-business lender booked a charge and earned lower interest income. The company booked a $45 million settlement charge in the quarter related to a dispute with former parent Tyco International Ltd..

  • UPDATE 1-U.S. says Europe bank failure fund inadequate Thursday, 16 Jan 2014 | 10:37 AM ET

    WASHINGTON, Jan 16- The United States is concerned that Europe is not moving decisively to heal its banks and that China will only slowly move toward a more market-based economy, U.S. Washington has been raising pressure on Europe to boost the region's ailing economies by revitalizing banks hit by a debt crisis.

  • U.S. says Europe bank failure fund inadequate Thursday, 16 Jan 2014 | 10:01 AM ET

    WASHINGTON, Jan 16- The United States is concerned that Europe is not moving decisively to heal its banks and that China will only slowly move toward a more market-based economy, U.S. Lew said a deal struck in Europe last month to create a fund over the coming decade for dealing with future bank failures was important, but inadequate.

  • NEW YORK, Jan 13- Two former investors with Bernard Madoff cannot pursue claims against the estate of a Florida businessman who was one of the convicted swindler's biggest clients, a federal appeals court ruled on Monday.

  • Federal judge overseeing Madoff liquidation dies Monday, 13 Jan 2014 | 12:29 PM ET

    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.

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