Liquidation

It will begin distributing some $7 billion to creditors, many of them hedge funds that bought WaMu's debt securities after the company declared bankruptcy in September 2008. Common and preferred shareholders will own the bulk of WMI Holdings ...

on Monday emerged from bankruptcy protection, just two weeks after Lehman Brothers Holdings also emerged from Chapter 11. The Seattle-based company, the largest U.S. bank or thrift to fail, said it plans to begin repaying about $7 billion to creditors.

The parent company of leisure carrier Direct Air filed for bankruptcy protection last week, The Associated Press reports. The move, which came just days after the airline stranded thousands by abruptly suspending all of its scheduled flights at the height ...

The firm put four total units into bankruptcy, two of which it plans to liquidate under Chapter 7 of the federal bankruptcy code. An attorney for the company did not immediately respond to a request for comment. A TaxMasters representative could ...

HOUSTON (AP) — TaxMasters Inc. has filed for bankruptcy protection following a legal challenge from Texas prosecutors who say the company's famed TV commercials mislead potential customers. The Houston-based tax resolution company filed ...