Liquidation

Suleman had sought protection from her debts under Chapter 7 bankruptcy. According to the filing, she owes money to more than 20 parties, including utilities companies, her father and a Christian school.

Lenders are concerned that the company’s assets and cash flow aren’t enough to support the $1.7 billion in debt at its “LP” unit, he said. The case is In re LightSquared Inc., 12-12080, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

Bankruptcy "is intended to give LightSquared sufficient breathing ... LightSquared's biggest unsecured creditors include Boeing Satellite Systems Inc., owed $7.5 million, and Alcatel-Lucent, owed $7.3 million. Debt includes $322.3 million ...

Residential Capital LLC, the bankrupt mortgage company indirectly owned by the U.S. government, won court approval to quit funding $1.7 billion in consumer home equity lines of credit to conserve cash. U.S. Bankruptcy Judge James Peck in ...

Five Out of Seven TWU Bargaining Units Vote to Accept American Airlines' Last Offer TWU's Lawyers Continue to Argue on Behalf of All Members in NYC Bankruptcy Court Today While Union Leadership Promotes Merger with US Airways as Best Option for American ...