Members of Hostess Brands Inc.’s largest union are set to vote on a final labor contract offer from the troubled company, a proposal that calls for some “deep” concessions and c
This week on The Broke and the Beautiful, the SEC accuses former University of Georgia football coach Jim Donnan of running a Ponzi scheme, and Evander Holyfield wants to avoid a knockout in bankruptcy. Also this week, a museum Julia Child helped start is trying to cook up a new beginning.
Elpida Memory Inc. bondholders have filed a bankruptcy-exit plan that values the company at $3.85 billion, well over the price rival Micron Technology Inc. has offered to pay for the distressed chip maker. Read the Daily Bankruptcy Review article here.
The trustee unwinding Lehman Brothers Holdings Inc.’s brokerage business has agreed to sell the company’s stake in a gas shipping business to Wilbur Ross for $110 million.
Failed solar power equipment maker Solyndra LLC has sketched out its Chapter 11 plan and, as expected, there’s bad news for U.S. taxpayers: Estimates are $24 million of a $527 million government loan will be repaid, and that’s not a sure thing. Read the Daily Bankruptcy Review article here.
Peregrine Financial Group Inc. filed for Chapter 7 bankruptcy late Tuesday, a day after regulators alleged the brokerage misstated more than $200 million in customer accounts. Read the Daily Bankruptcy Review article here.
Patriot Coal Corp. filed for Chapter 11 bankruptcy on Monday, becoming the largest casualty of the worst U.S. market for the power-plant fuel in decades. Read the Daily Bankruptcy Review article here.
Mammoth Lakes, Calif., on Tuesday filed for Chapter 9, or municipal bankruptcy, less than a week after nearby Stockton, Calif., sought the same protection. Read the Daily Bankruptcy Review article here.
