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3 hrs ago | West Australian
Germany is standing firm against the use of euro zone money to back a scheme for tackling troubled banks, dousing hopes still harboured by its peers that the bloc will unite behind lenders in difficulty.
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The bankruptcy auction of The Atlantic Club Casino Hotel will resume Wednesday. Participants would not say how many parties remain in the running, cautioning that the number is subject to change.
A federal judge approved a reorganization plan for the troubled Rural/Metro ambulance company that serves Santa Clara County, paving the way for it to emerge from bankruptcy in the next few weeks, company officials said Tuesday.
Russian President Vladimir Putin on Tuesday opened his wallet in the battle with the European Union over Ukraine's future, saying Moscow will buy $15 billion worth of Ukrainian government bonds and sharply cut the price of natural gas for its economically struggling neighbor.
Nortel Networks Inc., a defunct telecoms company, has reached a deal that will cut more than $3 billion from what was allegedly owed to former Nortel entities in Europe, marking what it called a "significant milestone" to ending its five-year bankruptcy.
The announcements came after Putin held talks in Moscow with Ukrainian President Viktor Yanukovych, who is facing massive protests at home for his decision to shelve a pact with the EU in favor of closer ties with Moscow.
Patriot Coal Corp. says it is finalizing its financing and will emerge Wednesday from bankruptcy now that a federal bankruptcy court has approved its reorganization plan.
Dan Akerson, who will step down as General Motors chief executive next month, has defended his tenure as leader and said that his successor will have to build on the turnaround that he guided.
The next step, which starts this week, is where it gets tricky. With a bankruptcy declaration in hand, Detroit and its top-flight advisors now must pinpoint potential allies, isolate opponents and strike deals where needed, as they begin seeking a path that will get them out of the largest ever municipal bankruptcy with broad public support and ... (more)
Ocean 4660 LLC, the owner of the 147-room hotel in Lauderdale-by-the-Sea, filed Chapter 11 in June to stall a foreclosure lawsuit by Comerica Bank .
Douglas' house was scheduled to be sold by the city of High Point, Tuesday, to pay off a debt he owes the city.
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.
Hidden behind the tug of war over whether Ukraine will cast its lot with Europe or Russia is the prospect of bankruptcy.
A crucial decision that keeps Detroit in bankruptcy court and puts pensions at risk can immediately be appealed to a higher court, a judge said Monday.
In bankruptcy and looking for cash, Detroit would like to lease its water utility to raise as much as $9 billion to fund basic services long term, but talks with neighboring suburban counties are stalled.
Unions and Detroit pension funds are back in court to try to persuade a judge to allow them to appeal a decision that lets the city fix itself in bankruptcy.