363 Sales

Ally to shed a quarter of its assets after ResCap bankruptcy, emerge 'much leaner' - Detroit Free Press

05/16/12

Detroit-based Ally Financial expects to remove more than a quarter of its assets from its balance sheet through the bankruptcy filing of subsidiary Residential Capital and the sale of its international assets. Ally, which revealed the figures ...

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Court says farmers must pay bankruptcy tax - Seattle Times

05/15/12

The Supreme Court says a farming family has to pay tax on the bankruptcy sale of their farm. The high court on Monday voted 5-4 for the IRS in its fight with Lynwood and Brenda Hall over their bankruptcy sale of their 320-acre farm in Willcox ...

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Local man to testify at hearing on FDIC loan sales [The Columbian, Vancouver, Wash.] - Businessweek

05/15/12

"Fogg Construction was forced to file Chapter 11 bankruptcy (on) May 3 ... Money recovered from payments on those loans or property sales are divided between Rialto and FDIC. The FDIC told The Columbian in mid-January that 137 former Bank ...

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LightSquared Files for Chapter 11 Bankruptcy in Bid to Buy Time - eWeek

05/15/12

In a series of last-gasp efforts, the company hired lobbyists in an effort to overturn the FCC decision, and wrangled with creditors to keep the company alive for increasingly futile efforts to stave off sale or shutdown of the company. The bankruptcy is ...

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Ally to keep U.S. auto loans after ResCap filing - Reuters India

05/15/12

Under its bankruptcy plan, ResCap will be able to preserve its mortgage servicing operations and other assets pending their planned sales. At the same time, the bankruptcy judge overseeing the hearing raised questions about the mortgage lender's ...

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2nd UPDATE: Ally Financial CEO Says US Businesses Not For Sale - NASDAQ

05/15/12

NEW YORK -(Dow Jones)- The bankruptcy of Ally Financial Inc.'s troubled mortgage business and potential sales of its international units will put the auto lender on stronger footing, Ally executives said Tuesday, despite questions about the ...

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Cagle’s Wins Court Approval to Sell Assets to Koch Affiliate (Update 1) - Bloomberg

05/15/12

Cagle’s Inc. (CAGAQ), a poultry producer, won court approval to sell its assets for about $93 million to JCG Foods LLC, an affiliate of Koch Foods Inc. U.S. Bankruptcy Judge Joyce Bihary approved the sale to closely held JCG, which is owned by ...

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Hostess Threatens Layoff Of 187 Around Connecticut But Hopes To Save Jobs - Hartford Courant

05/15/12

The privately owned company said it hopes to save jobs as it emerges from bankruptcy. “The notices were sent to alert employees that a sale or wind down of the company is possible in the future. However, our goal is still to emerge from ...

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Ally Pays $750 Million in ResCap Bankruptcy to ‘Avoid the Noise’ - Bloomberg

05/15/12

The payment to Residential Capital as part of the bankruptcy plan insulated Detroit-based Ally ... ranked No. 1 in financing U.S. consumer auto sales for 2011 with more than $40 billion in contracts for new or used cars and trucks, or about ...

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Ally Financial CEO says US businesses not for sale - Marketwatch

05/15/12

NEW YORK (MarketWatch) -- The bankruptcy of Ally Financial Inc.'s troubled mortgage business and potential sales of its international units will put the auto lender on stronger footing, Ally executives said Tuesday, despite questions about the ...

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