Bankruptcy News

Ally Financial Inc's proposed $2.1 billion agreement reached last month with creditors of its bankrupt Residential Capital LLC subsidiary cleared a key court deadline with only one vigorous objection, though several warning shots were fired.

ALBANY Gov. Andrew Cuomo will announce an agreement Wednesday afternoon with the bankrupt Eastman Kodak Co.

Less than two months after opening the doors to its first Oregon stores, Orchard Supply Hardware has filed for Chapter 11 bankruptcy protection.

The eurozone does not intend to change the terms of Cyprus's bailout as requested by Cypriot President Nicos Anastasiades in a letter sent to eurozone leaders and its lenders, three senior eurozone officials said on Wednesday.

Hearts are set to formally go into administration later - but could be blocked in their bid to appoint the company they want to take charge of the process.

Montana tax authorities say a federal court hearing over a $57 million tax dispute with luxury real estate developer Tim Blixseth will resume in July.

Eastman Kodak Co on Tuesday said it will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection.

During season two of Real Housewives of New Jersey news broke that Joe and Teresa Giudice are $11 million dollars in debt.

What began with scraps of paper at a Brampton, Ont., kitchen table nearly 40 years ago grew into a Canadian fitness and health publishing empire, with the company's founder counting bodybuilding legend Arnold Schwarzenegger among his friends.

U.S. safety regulators said Tuesday that they are investigating problems with air bag sensors in the seats of some small Suzuki SUVs.

Exide Technologies, one of the world's largest producers and recyclers of lead-acid batteries, says its chapter 11 bankruptcy petition will not interrupt operations, including those at its Muncie factory.

The American coal industry is in free-fall and companies are being forced to do whatever it takes to keep from closing their doors.

June 17, 2013 - In two separate rulings, and in two separate federal circuits, appeals courts have now allowed the discharge of federally backed student loans in two bankruptcy cases.

The company that owns the Chicago Tribune, Los Angeles Times and more than 20 television station made slightly less money last year as it ended a lengthy ordeal in bankruptcy court.

Emergency Manager Kevyn Orr's plan to suspend payments on $2 billion of Detroit's debt threatens a basic tenet of the $3.7 trillion municipal market: that states and cities will raise taxes as high as needed to avoid default.

Conservative Prime Minister Antonis Samaras' fragile three-party coalition formed to save debt-stifled Greece from bankruptcy this time last year is now flirting with the political instability that has forced three changes of government in as many years.

Orchard Supply Hardware Stores Corp has filed for Chapter 11 bankruptcy protection, court documents showed on Monday, with rival retailer Lowe's Companies set to buy the majority of its assets for $205 million in cash.

"The Real Housewives of New Jersey " star Teresa Giudice sold herself as a wealthy housewife to three adorable daughters and a hardworking man on the first season of the show.

The companies last week named eight senior executives, including five from US Airways and three from American parent AMR Corp. AMR and US Airways Group Inc. hope to complete their proposed merger this summer.

The emergency manager who was sent to reverse the fortunes of this financially troubled city asked some of its creditors on Friday to accept pennies on the dollar as he laid out his plan for tackling Detroit's staggering debt, kick-starting negotiations that could determine whether the city is headed to bankruptcy court.