News

Stockton official: Mediation with creditors fails - Associated Press

06/25/12

STOCKTON, Calif. (AP) — In opting to become the nation's largest city to seek federal bankruptcy protection, this river port of 290,000 took a rare financial step of last resort after struggling with the economic downturn, soaring pension ...

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Stockton Bankruptcy: Mayor Says Chapter 9 Filing 'Very Likely' - Huffington Post

06/25/12

FRESNO, Calif. (AP) -- Stockton could become the largest U.S. city to declare bankruptcy after a deadline to make a deal with its creditors passed and the city's mayor said Tuesday she did not believe a settlement had been reached. Mayor Ann ...

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Stockton Bankruptcy: Mayor Says Chapter 9 Filing 'Very Likely' - Huffington Post

06/25/12

FRESNO, Calif. (AP) -- Stockton could become the largest U.S. city to declare bankruptcy after a deadline to make a deal with its creditors passed and the city's mayor said Tuesday she did not believe a settlement had been reached. Mayor Ann ...

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Two hospitals sued after filing bankruptcy - FierceHealthcare

06/25/12

Saint Catherine Regional Hospital in Indiana last week filed for Chapter 11 bankruptcy, Health Leaders Media reported. Saint Catherine Regional is a sister hospital to Saint Catherine Medical Center in Pennsylvania, which also filed for ...

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In MP3tunes copyright case, EMI wants CEO's assets - CNET News

06/25/12

We'll update as soon as we hear back. After MP3tunes filed for Chapter 7 bankruptcy protection, the court permanently stayed the case. Robertson then asked the court to stay the complaint against him. Today, the judge denied his request.

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Birmingham: That's Not Our Problem - Wall Street Journal

06/25/12

Following the county's bankruptcy filing, hundreds of workers were laid off, forcing residents to sometimes wait hours for services. Birmingham, the county's biggest city, is in solid financial shape. Its officials hope borrowing costs won't rise sharply ...

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James River Coal: Now Might Be A Good Time To Go To Cash - Seekingalpha.com

06/25/12

Even if we believe that longer term coal (KOL) will come back, in the short term the most likely course of action is that Patriot Coal will see covenant breaches and wild speculation that it might be about to file Chapter 11. Or indeed, that it will simply ...

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Stockton, Calif., faces midnight deadline to avert bankruptcy - Reuters

06/25/12

said a bankruptcy filing by Stockton is a "high-probability event." A major area targeted for savings in the pendency plan is Stockton's compensation for city employees and retired city workers. The plan would cut roughly $7 million by reducing ...

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Bankruptcy filing, sale of assets initiated by Cinram - The Business Journal

06/25/12

Cinram International, which has a DVD manufacturing plant in Huntsville, announced Monday that it has reached agreements with newly formed subsidiaries of Najafi Companies for the sale of substantially all of Cinram's assets and businesses in ...

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Ritz Camera files second Chapter 11 bankruptcy - The Business Journal

06/25/12

Camera retailer Ritz Camera & Image LLC has filed for Chapter 11 bankruptcy for its second time since 2009. According to Dow Jones & Co. Inc., the specialty camera company and film developer — which acquired Wolf Camera in 2001 — has not ...

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