Liquidation

The Daily Docket: Hostess Can’t Shed Union Deals

05/15/12
Associated Press

A judge Monday denied Hostess Brands Inc.’s bid to shed deals with its biggest union, the Teamsters, sending the bakery company back to the drawing board as it tries to claw its way out of its

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ResCap Gets Interim Approval for $1.45 Billion Bankruptcy Loan (Update 1) - Bloomberg

05/15/12

ResCap filed for bankruptcy yesterday with plans to sell most of its assets to Fortress Investment Group LLC. (FIG) The company listed assets of $15.7 billion and debt of $15.3 billion in its petition in U.S. Bankruptcy Court in Manhattan.

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Lights Out As LightSquared Files For Bankruptcy - Forbes

05/14/12

It’s bids totalled $4.7 billion of which it paid $500 million as deposits ... It’s belief was that the very purpose of bankruptcy protection was to allow an entity like NextWave to raise capital and continue on. Over the decade this case ...

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New wireless company on hold due to bankruptcy - msnbc.com

05/14/12

which is owed $7.4 million. Milbank, Tweed, Hadley & McCloy is serving as general bankruptcy counsel to the company. For Falcone, who sank billions of dollars of his investors' and his own money into LightSquared, the bankruptcy likely spells ...

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Chapter 7 Bankruptcy in 7 Steps: Passing Time and Your Financial Management Course - jdsupra.com

05/14/12

You made it through the Meeting of Creditors and are all geared up and ready to go! You had your day in court and are ready to tack on whatever comes next. If your case is like the typical chapter 7 bankruptcy at this point there is a whole lot of nothing ...

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UPDATE 2-Falcone's LightSquared files for bankruptcy - Reuters

05/14/12

which is owed $7.4 million. Milbank, Tweed, Hadley & McCloy is serving as general bankruptcy counsel to the company. FALCONE'S HOPES AND DREAMS For Falcone, who sank billions of dollars of his investors' and his own money into LightSquared ...

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LightSquared Files Bankruptcy After Network Blocked (Update 1) - Bloomberg

05/14/12

Bankruptcy “is intended to give LightSquared sufficient ... 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 outstanding ...

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LightSquared Files For Chapter 11 Bankruptcy - NASDAQ

05/14/12

In its bankruptcy petition, LightSquared listed Boeing Satellite Systems Inc. as its biggest unsecured creditor, with a disputed $7.5 million claim, followed by Alcatel-Lucent (ALU), with a $7.3 million disputed claim. The Chapter 11 case ...

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Hostess Brands Uses Bankruptcy Court to Screw Workers Out of Pensions, Benefits - AlterNet

05/14/12

A federal judge is moving to end a tense labor standoff at Hostess Brands by bringing the heavy hand of bankruptcy law down in favor of the corporate managers and against the employees who produce the cakes and breads that have made the company famous.

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Bankruptcy filings in Hawaii drop 26 percent in April - Transworld News

05/14/12

The majority of individuals, utilizing bankruptcy attorneys for debt protection, filed under the Chapter 7 plan, which requires that assets are sold off, or liquidated, in order to satisfy creditors and pay their debts. The total number of chapter 7 ...

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