Business Failures


  • *$25 mln cap on Richard Li bid; lawyer cries foul. *China's Wanxiang says plans to start bidding at $35 mln. WILMINGTON, Del., Jan 10- A U.S. judge rejected a planned sale of Fisker Automotive to Hong Kong businessman Richard Li in favor of competitive bidding, opening the way for China's largest auto parts company to bid for the maker of the Karma plug-in hybrid sports car.

  • NEW YORK, Jan 3- Phil Falcone's Harbinger Capital Partners, which controls bankrupt satellite company LightSquared, has asked a judge to reject a takeover effort by Dish Network Corp, saying its $2.2 billion bid for a chunk of LightSquared's spectrum is a "Trojan horse".

  • Bankruptcy no friend to struggling US retailers Thursday, 19 Dec 2013 | 6:09 PM ET

    Discount clothing chain Loehmann's this week filed for bankruptcy protection for the third, and likely final, time. It won't help.

  • Loehmann's department store in the Chelsea neighborhood of New York.

    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.

  • According to filings in the U.S. Bankruptcy Court in Manhattan, Loehmann's Holdings Inc. tried last month to sell its businesses as a going concern. SB Capital Group LLC, Tiger Capital Group LLC and A&G Realty Partners LLC, which have handled retailer liquidations, agreed to make an initial bid that includes $19 million in cash and other sums, a court filing shows.

  • *Empire State manufacturing index creeps up in December. WASHINGTON, Dec 16- U.S. manufacturing output rose for a fourth straight month in November as production increased almost across the board, the latest suggestion the economy is gaining steam.

  • *Empire state manufacturing index creeps up in December. WASHINGTON, Dec 16- U.S. manufacturing output rose for a fourth straight month in November as production increased almost across the board, in the latest suggestion the economy is gaining steam.

  • WASHINGTON, Dec 3- U.S. banks are likely to cut back on risky short-term funding if markets believe bankruptcy not bailouts await them, a top Federal Reserve is set to tell lawmakers on Tuesday.

  • *Financial markets and depositors calm after Master Bank failure. MOSCOW, Nov 24- The problems exposed in Russia's banking system by last week's collapse of mid-sized lender Master Bank are deep-rooted, but in contrast with banking failures of the past there was no evidence this time of other banks' customers taking fright.

  • Nov 15- American Airlines Group, the company that will be formed when AMR Corp's American and US Airways Group Inc complete their merger, will trade under the symbol "AAL" on the Nasdaq market, the companies said on Friday. American and US Airways this week reached an agreement with the U.S. Justice Department paving the way for the merger.

  • Nov 6- China's Suntech Power Holdings Co Ltd, once the world's largest maker of solar panels, filed for provisional liquidation, signaling that it may go out of business after years of steep declines in panel prices. Suntech's shares fell as much as 23 percent to $1.15 on the New York Stock Exchange on Wednesday.

  • RIO DE JANEIRO/ SAO PAULO, Nov 6- OSX Brasil SA, the Brazilian shipbuilder controlled by former billionaire Eike Batista, is considering seeking court protection from creditors as early as Wednesday, three sources with direct knowledge of the plans told Reuters.

  • Nov 6- Suntech Power Holdings Co Ltd, once the world's largest maker of solar panels, said it had filed an application for provisional liquidation in the Cayman Islands, where the New York- listed Chinese company is incorporated.

  • NEW YORK, Nov 4- Billionaire investor Steven A. Cohen's days as a hedge fund manager may be over with his SAC Capital Advisors agreeing to plead guilty to insider trading charges and pay a record $1.8 billion in fines and forfeitures.

  • Nov 4- Ireland's Velti Plc said it would sell its mobile marketing business in the United States, Britain and India to a unit of Blackstone Group LP, and that it had filed for bankruptcy under Chapter 11 for its remaining U.S. operations.

  • TOKYO, Nov 4- The operator of Japan's wrecked Fukushima nuclear plant is working on a reorganization plan to fend off more drastic proposals, including possibly dragging the company through bankruptcy in return for a publicly funded clean-up and shutdown of the reactors.

  • *Brent as low as $106.64, down over $2. NEW YORK, Nov 1- Oil prices fell broadly on Friday, heading for a large weekly percentage decline, as a strong dollar and ample supplies outweighed concerns about a drop in Libyan crude exports. Brent crude for December delivery was down by $2.15 to $106.69 a barrel by 1:23 p.m. EDT after falling to a session low of $106.56.

  • Oct 31- Senior lenders to Energy Future Holdings are upset that the company plans to make a critical interest payment to junior bondholders on Friday, but they likely have no legal recourse to prevent it, according to experts and people close to the matter.

  • *Suntech has until Nov. 6 to respond to the filing. Oct 31- Chinese solar panel maker Suntech Power Holdings Co Ltd said it intended to contest a bankruptcy petition filed against it in the United States by some bondholders.

  • SAO PAULO, Oct 31- Brazilian investment firm Cambuhy Investimentos Ltda and Germany's E.ON SE joined to buy control of OGX Petróleo e Gás Participações SA's gas unit for 250 million reais, helping the beleaguered oil company raise funds after seeking court protection from creditors.

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