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Business Events Bankruptcy

  • FRANKFURT, Aug 17- Germany's Lufthansa is in talks to buy a majority of insolvent Air Berlin's aircraft, with the backing of Berlin, which is pushing for a national aviation champion, media reports said on Thursday. Berlin granted a bridging loan of 150 million euros to allow the airline to keep its planes in the air for three months and secure the jobs of its 7,200...

  • All three are "reputable in terms of their finances, sufficiently large to offer Air Berlin a secure future and are interested in keeping Germany as a base of operations", he said, without naming any of the interested parties. Air Berlin, Germany's second-largest airline, filed for bankruptcy protection on Tuesday after key shareholder Etihad Airways withdrew...

  • Bankruptcy Judge Brendan Shannon said on Wednesday in the Wilmington, Delaware courtroom. Takata and TK Holdings Inc, its U.S. unit, said they faced tens of billions of dollars in liabilities when they filed for bankruptcy protection in June, including claims from automakers that used its airbags and individuals who filed class-action lawsuits.

  • FRANKFURT, Aug 16- Air Berlin's chief executive blamed long delays in the opening of a new Berlin airport for the German airline's insolvency in an interview published by Germany's Die Zeit. Winkelmann's comments came a day after Air Berlin, Germany's second-largest airline, filed for bankruptcy protection after key shareholder Etihad Airways withdrew...

  • By Victoria Bryan and Maria Sheahan. BERLIN, Aug 15- Air Berlin, Germany's second-largest airline, filed for bankruptcy protection on Tuesday after key shareholder Etihad Airways withdrew funding following years of losses, leaving valuable runway slots up for grabs. The German government has granted a bridging loan of 150 million euros to allow Air Berlin to...

  • BERLIN— Germany's second largest carrier, Air Berlin, is filing for bankruptcy protection after its main shareholder, Abu Dhabi- based Etihad, said it would make no more financing available. The loss-making airline said Tuesday that after Etihad pulled funding, it "came to the conclusion that there was no further positive way ahead for Air Berlin."

  • ANCHORAGE, Alaska— The Alaska Dispatch News has announced it is filing for Chapter 11 bankruptcy and is in the process of transitioning to new ownership. Those buyers included four siblings— Ryan Binkley, Wade Binkley, James Binkley and Kai Binkley Sims— as well as Alaska Media LLC, publisher of the Arctic Sounder, The Bristol Bay Times and the Dutch Harbor...

  • NEW YORK, Aug 11- Three former executives at Transmar Commodity Group Ltd on Friday pleaded not guilty to defrauding banks to win a $400 million credit line for the now-bankrupt New Jersey- based cocoa trading company. Peter G. Johnson, who was Transmar's chief executive; his son Peter B. Johnson, who oversaw Transmar's Euromar Commodities affiliate; and Thomas...

  • NEW YORK— Payless ShoeSource says it emerged from bankruptcy protection this week and is looking for a new CEO to lead the company. The low-priced shoe chain filed for Chapter 11 bankruptcy protection in April. The Topeka, Kansas- based company says that CEO Paul Jones retired this week and that its board of directors will select a new leader.

  • SAO PAULO, Aug 9- Oi SA posted a wider-than-expected second-quarter loss as the Brazilian phone carrier was forced to close currency-hedging positions because of its protracted bankruptcy protection case. The loss was much more than an average consensus estimate of 332.8 million reais compiled by Thomson Reuters. The numbers suggest Chief Executive...

  • In its filing with the U.S. Bankruptcy Court in Delaware, Takata said the Chapter 15 petition was critical to ensure the "continuation of Takata's business, preserving tens of thousands of jobs and ensuring that Takata's business partners continue to have access to critical components that ensure the safety of drivers worldwide." Takata and automakers face...

  • CHICAGO, Aug 9- Payless ShoeSource is set to emerge from bankruptcy as soon as Wednesday, one of the largest retail chains to do so, and is banking on a strategy focused primarily on bricks-and-mortar sales at a time when e-commerce is casting an ever-growing footprint on retail sales. With a cleaned-up balance sheet, Payless is seeking to position itself to...

  • Boy shops in Payless

    Payless is set to emerge from bankruptcy as early as Wednesday, banking on a strategy focused on bricks-and-mortar sales.

  • CHICAGO, Aug 9- Payless ShoeSource is set to emerge from bankruptcy as soon as Wednesday, one of the largest retail chains to do so, and is banking on a strategy focused primarily on bricks-and-mortar sales at a time when e-commerce is casting an ever-growing footprint on retail sales. With a cleaned-up balance sheet, Payless is seeking to position itself to...

  • WILMINGTON, Del./ WASHINGTON, Aug 8- Takata Corp's bankrupt U.S. business will ask a federal judge on Wednesday to suspend lawsuits against automakers that have been brought by people injured by its faulty air bag inflators, something that opponents say is an abuse of the law. Takata and TK Holdings Inc, the company's U.S. unit, filed for bankruptcy in June and said...

  • WILMINGTON, Del./ WASHINGTON, Aug 8- Takata Corp's bankrupt U.S. business will ask a federal judge on Wednesday to suspend lawsuits against automakers that have been brought by people injured by its faulty air bag inflators, something that opponents say is an abuse of the law. Takata and TK Holdings Inc, the company's U.S. unit, filed for bankruptcy in June and said...

  • NEW YORK, Aug 8- Three former executives at Transmar Commodity Group Ltd have been charged with defrauding banks to win a $400 million credit line for their now bankrupt New Jersey- based cocoa trading company, federal prosecutors said on Tuesday. Peter G. Johnson, who was Transmar's chief executive; his son Peter B. Johnson, who oversaw Transmar's Euromar...

  • Suarez Corporation Industries said in a bankruptcy court filing that it owes $10 million to $50 million and has $500,000 to $1 million in assets. Jim Renacci and the failed U.S. Senate bid of Ohio Treasurer Josh Mandel. Both campaigns returned the money after an FBI investigation was made public.

  • NEW YORK, Aug 8- Three former executives at Transmar Commodity Group Ltd have been charged with defrauding banks to win a $400 million credit line for their now bankrupt, New Jersey- based cocoa trading company, federal prosecutors said on Tuesday. Peter G. Johnson, who was Transmar's chief executive; his son Peter B. Johnson, who oversaw Transmar's Euromar...

  • Venezuela could become first oil state to 'fully fail,' analyst warns

    Venezuela is teetering on the brink of a major meltdown and a key vote on could send the country over the edge.