Canadian oil and gas company Lone Pine Resources Inc. said Wednesday it has launched bankruptcy proceedings in Canada and filed for Chapter 15 bankruptcy protection in the U.S. in a bid to slash its debt load. Read the Daily Bankruptcy Review article here.
A Dallas mint that makes commemorative coins and “alternative” money for people who are wary of the U.S. dollar has run into problems with its own finances.
Gravity, whose computer animation and digital effects appear in Ford and Got Milk? ads, filed for Chapter 11 protection Tuesday to avoid eviction from its Madison Avenue office.
City Homes Inc., which rents more than 300 Baltimore apartment units to low-income tenants and faces a wave of lead paint lawsuits, filed for Chapter 11 protection.
Furniture Brands International Inc., one of the largest furniture manufacturers in the U.S., filed for bankruptcy Monday with a deal to sell its assets to investment firm Oaktree Capital Management for $166 million. Read the Daily Bankruptcy Review article via The Wall Street Journal.
This week on The Broke and the Beautiful, Alex Rodriguez’s troubles pushed the producer of a new cartoon into bankruptcy. Also, Warren Sapp’s shoes were finally sold and the former Versace mansion is about to hit the auction block.
Fortress Investment Group LLC’s GateHouse Media Inc., which will be taking over management of the former Dow Jones Local Media Group publications, plans to restructure its $1.2 billion debt load through a prepackaged Chapter 11 bankruptcy filing. Read the Daily Bankruptcy Review article via The Wall Street Journal.
A bankruptcy judge said Longview Power LLC can use its lenders’ cash to fund its bankruptcy case and set up a showdown between the company and a group of contractors over disputed letters of credit. Read the Daily Bankruptcy Review article here.
