Jan 21- JPMorgan Chase& Co got a painful reminder on Wednesday that we all have to live with our mistakes, even a clerical mix-up that could cost $1.5 billion. A federal appeals court in Manhattan ruled on Wednesday that, although it was not JPMorgan's intention, it clearly authorized its law firm to file papers in 2008 that unsecured much of a loan to General Motors.» Read More
Oct 3- A group of investors led by RadioShack Corp's largest shareholder, Standard General LP, have replaced a $585 million debt facility that had been provided to the electronics retailer by GE Capital in a move that will allow the struggling company to tap more funds, sources familiar with the matter said. The deal arranged by the hedge fund, which holds a 9.8...
Oct 3- Cash-strapped electronics retailer RadioShack Corp has reached an agreement with a consortium led by its largest shareholder Standard General LP to refinance about $590 million of loans to re-stock ahead of the holiday season, Bloomberg reported, citing a person familiar with the matter. The New York- based hedge fund will lead a group of lenders to...
Oct 2- As bond traders began what they thought would be a quiet day last Friday, a simple headline crossed their screens: " William H. Gross joins Janus Capital." Several asset managers and traders wondered whether the news was about Pimco's co-founder, known to most on Wall Street simply as Bill Gross, or someone else with the same name. Clients immediately started...
Sept 11- Troubled electronics retailer RadioShack Corp said it may need to file for bankruptcy protection if its cash situation worsens, after reporting its tenth straight quarterly loss.
NEW YORK, Aug 15- Unsecured creditors of Lehman Brothers Holdings Inc's brokerage unit who have waited nearly five years to recoup their money will begin receiving an initial $4.62 billion payout next month, the trustee liquidating the unit said on Friday.
When Crumbs shuttered its remaining stores, it seemed like an abrupt ending for a company that opened a decade ago to ride the wave of popularity of the sugary treat.
Loehmann's, the 92-year-old discount clothing chain, has filed for bankruptcy protection for a third time and said it is prepared to sell its assets to a group of liquidators.
Orchard Supply Hardware Stores has filed for Chapter 11 bankruptcy protection, with rival retailer Lowe's Companies set to buy the majority of its assets for $205 million in cash.
Specialized hedge funds which transformed corporate bankruptcies may be poised to descend on another landscape: struggling cities and counties - and no place beckons more than Detroit.
Under conditions to be announced Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, while the rest may never be paid back.
The president of Cyprus said on Friday the risk of bankruptcy had been contained and the country had no intention of leaving the euro.
"Did you know that a silent killer is lurking in your company? We’re talking about workplace frustration, which can undermine the energy, enthusiasm, and performance of your best talent."