Bankruptcy Blogs

Receiving Wide Coverage ... B of A Posts a Loss: Bank of America reported a loss of $8.8 billion during the second quarter partly due to the $8.5 billion settlement with investors in June who claimed the bank had sold them poor-quality mortgage-backed bonds. The reported loss to shareholders was 90 cents per common share, according to the Post. CEO Brian Moynihan said, "the solid performance in our underlying businesses continues to be clouded by the...

HMRC's latest comment concerning 'Time to Pay' (TTP) arrangements has stated that TTP will not be available where companies are paying out dividends to their shareholders.

Follow @Chapter11Cases In its court filing this afternoon formally announcing the cancellation of tomorrow’s auction, Borders Group, Inc. disclosed that it “received a bid from a non-insider to purchase the inventory, furniture, fixtures, equipment and leases for approximately thirty (30) stores.”  Multiple news organizations have reported that Borders was in discussions yesterday with Books-A-Million (BAMM) on a [...]

Judge Kevin Gross of the Delaware bankruptcy court entered an order last week setting the deadline (or bar date) for creditors of the Perkins & Marie Callender’s restaurant companies (full list of corporate entity names included below) to file proofs of claim on account of certain pre-bankruptcy obligations. The companies voluntarily filed for bankruptcy protection [...]

The Los Angeles Dodgers are blaming Major League Baseball Commissioner Bud Selig for their financial woes, including saying that he unfairly and publicly ca