Topic: Bankruptcy

The Ontario Securities Commission charged Sino-Forest and some of the Chinese forestry company's former executives with fraud on Tuesday, nearly a year after the allegations surfaced and its stock imploded.

Newt Gingrich's small empire, which was commonly known as Newt Inc. and pulled in $110 million over the past decade, is hitting hard times.

AMR Corp, parent of American Airlines, bowed to pressure on Friday from its unsecured creditors, including its largest labor unions, and said it would explore merger options while it is still in bankruptcy.

Under a 2005 law passed by Congress to protect lenders, private student loans fall under the same nearly-impossible-to-clear category as child support payments and criminal fines.

Americans are using their tax refunds to pay the fees associated with filing for bankruptcy protection, USA Today reports.

The trustee liquidating MF Global's brokerage will ask a bankruptcy court on Thursday to release $685 million to former MF Global customers, a plan already introduced in court filings that has been criticized as neglecting affiliates of the failed firm.

Former MF Global customers will have to wait a little longer than expected to learn how lucrative the broker's liquidation has been for trustee James Giddens and his law firm.

The congratulatory e-mails for Carson Block started to arrive on Friday afternoon, within hours of Toronto-listed Chinese forestry company Sino-Forest filing for bankruptcy protection and 10 months after his short-selling research firm, Muddy Waters, accused the company of exaggerating its assets.

An MF Global bankruptcy trustee asked a judge on Monday to release $25 million in insurance money to pay defense costs for Jon Corzine and other former MF Global officers facing civil lawsuits over the broker's October collapse.

A former MF Global executive has refused to answer lawmakers' questions about $200 million that was transferred out of a customer account days before the firm collapsed, invoking her Fifth Amendment right against self-incrimination.

Some MF Global employees were aware of a shortfall in the firm’s customer accounts days before the firm filed for bankruptcy protection, according to people involved in the case, a revelation that raises questions. The New York Times reports.

MF Global's North America CFO plans to tell lawmakers on Wednesday that she thought the roughly $1 billion deficit in customer funds was an accounting error, and only learned on the morning of the bankruptcy that the shortfall was real.

The parent of American Airlines will seek bankruptcy court approval to throw out labor contracts, a move that puts new pressure on pilots, flight attendants and other unionized workers to quickly agree to concessions.

MF Global CEO Jon Corzine authorized the transfer of $200 million in customer funds to cover a shortfall just before the broker collapsed last year, a congressional memo says.

Washington Mutual, one of the biggest corporate casualties of the 2008 financial crisis, on Monday emerged from bankruptcy protection, just two weeks after Lehman Brothers Holdings also emerged from Chapter 11.