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Economics News

Economics News continually updated from thousands of sources around the net.

3 hrs ago | CBS News

Owner Of Closed Mortgage Company Returns To NH

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

Comment?

Related Topix: Bankruptcy

7 hrs ago | National Post

Dubai debt delays revive fear of financial crisis

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

Comment?

Related Topix: World News, United Arab Emirates, Financial Markets, Middle East, Bankruptcy

12 hrs ago | The Oregonian

Portland developer sued over Alaska airline hangar

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.

Comment?

Related Topix: Bankruptcy

Thu Nov 26, 2009

Slam Sports

Nortel Networks union representing former employees has appeal dismissed

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.

Comment?

Related Topix: Nortel Network, Telecom, Startups, Nortel Networks, Bankruptcy, Winter Sports, Curling

Housing Wire

Capmark Gets Green Light on Servicing Unit Sale

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 .

Comment?

Related Topix: Bankruptcy, Home, Mortgage, Personal Finance

Arizona Daily Star

Grupo counsel upbeat about Asarco

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.

Comment?

Related Topix: Bankruptcy

Reuters

TPG, Sinopec not considering LyondellBasell bid: source

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.

Comment?

Related Topix: China Petroleum and Chemical, Oil & Gas, Energy, Bankruptcy

WXIA-TV Atlanta

Global Energy Holdings Group Files Chapter 11

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

Comment?

Related Topix: Atlanta Metro, Bankruptcy

Wed Nov 25, 2009

Bloomberg.com

GM Said to See No New Bidders for Saab as Board Decision Nears on Shutdown

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.

Comment?

Related Topix: Bankruptcy, Financial Services, Investment Services

Jersey Journal

Dallas bank makes solo bid on 3 Atlantic City Trump casinos

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.

Comment?

Related Topix: Atlantic City, NJ, Bankruptcy

The Plain Dealer

More bankruptcy cases filed in federal courts

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.

Comment?

Related Topix: Bankruptcy

KEZI-TV Eugene

Lawyers Say Country Coach is Out of Money

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.

Comment?

Related Topix: Bankruptcy

The Cyprus Weekly

Japan Airlines gets emergency loans...

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.

Comment?

Related Topix: Bankruptcy

The Post-Standard

Penn Traffic to state: 3 Syracuse-area P&Cs will close and hundreds...

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.

Comment?

Related Topix: Retail, Grocery, Syracuse Metro, Syracuse, NY, Law, Employment / Labor Law, Bankruptcy

Tue Nov 24, 2009

Ventura County Star

Diocese in Alaska agrees to $10M abuse settlement

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

1 comment

Related Topix: Roman Catholic Church, Religion, Bankruptcy

Post Tribune

Majestic Star Casino files for bankruptcy

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.

Comment?

Related Topix: Gary, IN, Bankruptcy, Gary Metro

WWLP

Koenigsegg backs out of Saab purchase

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.

1 comment

Related Topix: Automakers, General Motors, Bankruptcy

New York Times

Rising Tab in Unwinding of Madoff Assets

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.

Comment?

Related Topix: Bankruptcy, Business News

The Greenville News

New bankruptcy proposals leave Food Lion out

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.

Comment?

Related Topix: Bankruptcy, Salisbury, NC

Mon Nov 23, 2009

Hampton Roads Daily Press

Carl Icahn offers $105M plus financing to open bids for Fontainebleau Las Vegas; outbids Penn

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

Comment?

Related Topix: Gaming, Penn National Gaming, Bankruptcy

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