News

UPDATE 2-Mammoth Lakes, Calif. files for bankruptcy - Reuters

07/03/12

SAN FRANCISCO, July 3 (Reuters) - Mammoth Lakes, California filed on Tuesday for Chapter 9 bankruptcy protection from its creditors due to a nearly $43 million legal judgment against it. The filing follows a vote Monday by Mammoth Lake's town ...

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How Stockton went broke: A 15-year spending binge - Reuters UK

07/03/12

The possible bankruptcy filing, he said at the time ... and retiring officers claimed cash payments for unused vacation days - accumulated over years in some cases. Warning signs grew that retiree healthcare costs were rising fast.

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Obama's Green Energy Failures Continue To Abound - Investors Business Daily

07/03/12

Industrial Policy: Another stimulus-backed solar panel maker, one the president touted in a weekly radio address, is filing for bankruptcy. The administration's green-energy efforts continue to grow a deeper shade of red. After receiving some $70 million ...

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Mayor, City Attorney Respond to Bankruptcy Case - Voiceof San Diego

07/03/12

Both Mayor Jerry Sanders' office and City Attorney Jan Goldsmith responded to my post this morning on the revelation that retired police and firefighters from a small city in Rhode Island have agreed to reduce their pensions in bankruptcy. That's important ...

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Bankruptcy court sells self-anointed monk's property - Waterloo Cedar-Falls Courier

07/03/12

INDEPENDENCE, Iowa --- Federal bankruptcy officials last week finalized the sale of real estate in Galesburg, Ill., that once belonged to Ryan St. Anne Scott, a self-anointed monk facing multiple criminal charges. Scott, also known as Ryan Patrich Scott ...

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How Stockton went broke: A 15-year spending binge - Reuters

07/03/12

The possible bankruptcy filing, he said at the time ... and retiring officers cla imed cash payments for unused vacation days - accumulated over years in some cases. Warning signs grew that retiree healthcare costs were rising fast.

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How Stockton went broke: A 15-year spending binge - YAHOO!

07/03/12

When other Stockton employees demanded the same healthcare deal in following years, the city agreed. Deis, who signed Stockton's bankruptcy filing last Thursday, slammed the decision to provide free healthcare to retirees as a "Ponzi scheme" that ...

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Regulators release 'living will' breakup plans from big banks - Los Angeles Times

07/03/12

said it would replace its senior management and board of directors, and under one option would try to have its parent company, Citigroup, recapitalize the bank. Citigroup would then file for reorganization under Chapter 11 of the bankruptcy code.

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Former Bankruptcy Judge Named Examiner in ResCap Case - FOXBusiness

07/03/12

ResCap, the fifth-largest U.S. mortgage servicer, filed for Chapter 11 bankruptcy May 14, as bond payments loomed and litigation over soured mortgage securities mounted. As part of the filing, ResCap proposed selling the majority of its mortgage ...

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Ex-Enron, Chrysler Bankruptcy Judge Named ResCap Examiner - Bloomberg

07/03/12

where he teaches bankruptcy law, according to a court filing. He said he will charge $750 an hour. The case is In re Residential Capital LLC, 12-12020, U.S. Bankruptcy Court, Southern District of New York (Manhattan). To contact the reporter on ...

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