Economics News

A lawyer for the owner of a closed mortgage company being investigated by the state says his client is back in New Hampshire.

Dubai's stock market is closed on the first day of the long Eid al-Ad holiday in Dubai, November 26, 2009.

An Alaska couple is suing SeaPort Airlines and CEO John Beardsley for defaulting on payments on a Juneau airplane hangar worth at least $2 million.

An Ontario court has dismissed an appeal from a union representing current Nortel Networks workers, as well as laid off and retired employees who are seeking payments from the insolvent company.

Commercial real estate lender Capmark Financial Group received approval Tuesday from the US Bankruptcy Court to sell its North American servicing and mortgage banking business to Berkadia Commercial Mortgage .

A top executive with the company set to take over Asarco LLC says the Tucson-based copper miner will emerge from a four-year bankruptcy court battle modern, competitive, profitable and environmentally sound, The Associated Press reports.

Asia's top oil refiner China Petroleum and Chemical Corp and U.S. private equity firm TPG TPG.UL are not considering a bid to buy bankrupt chemical company LyondellBasell Industries ACCEIN.UL, said a source close to the situation on Wednesday.

Global Energy Holdings Group, an Atlanta-based renewable energy company, has filed for Chapter 11 bankruptcy protection in Delaware.

General Motors Co. doesna t expect to find new bidders for Saab and may shut the bankrupt unit after Koenigsegg Group AB canceled a planned acquisition, people familiar with the matter said.

A Dallas bank that was once allied with Donald Trump in a bid to buy the three Atlantic City Trump casinos out of bankruptcy protection now wants to buy them on its own.

Bankruptcy filings in federal courts jumped by more than one-third this year, as businesses and individuals struggled to regain their footing in a weakened economy.

Lawyers for RV maker Country Coach and its main creditor told a U.S. Bankruptcy Court judge the company is out of money and has few options left.

Japan Airlines said Tuesday it obtained government approval to receive up to $1.1 billion in emergency loans aimed at preventing the money-losing company from grounding flights.

At least three Syracuse area P&C Foods supermarkets will be closing soon, and workers at P&C owner The Penn Traffic Co.'s warehouses and distribution center in Geddes will be laid off, the company is telling the New York State Department of Labor.

The Catholic Diocese of Fairbanks and representatives of almost 300 alleged victims of clergy abuse have agreed on a settlement of almost $10 million.

Don Barden said he's planning no layoffs at his two Majestic Star Casinos in Gary following his company's filing Monday for Chapter 11 bankruptcy protection.

A Swedish specialty automaker has backed out of a deal to buy Saab from General Motors Co., casting serious doubt on the future of the troubled brand.

The cost of unwinding Bernard L. Madoff 's estate for the benefit of his victims is climbing, with a total of almost $25 million in new fee requests filed on Monday with the federal bankruptcy court in Manhattan.

Bi-Lo said Monday it filed a reorganization plan with U.S. Bankruptcy Court that calls for a $350 million cash infusion from its current owner, Lone Star Funds, but doesn't include Food Lion, which had signed a non-binding letter of intent to acquire most of the Mauldin-based grocery chain.

Billionaire investor Carl Icahn has offered a higher sum than Penn National Gaming Inc.