News

LightSquared, Failed Wireless Venture, Files Bankruptcy - Bloomberg

05/15/12

Lenders are concerned that the company’s assets and cash flow aren’t enough to support the $1.7 billion in debt at its “LP” unit, he said. The case is In re LightSquared Inc., 12-12080, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

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LightSquared, Failed Wireless Venture, Files Bankruptcy - Bloomberg

05/15/12

Chapman encouraged the company to reach an agreement with lenders. LightSquared filed for bankruptcy yesterday, saying it will seek a resolution with U.S. regulators who thwarted the company’s plan to deliver high-speed wireless to as many as ...

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Ally to keep U.S. auto loans after ResCap filing - Reuters India

05/15/12

Under its bankruptcy plan, ResCap will be able to preserve its mortgage servicing operations and other assets pending their planned sales. At the same time, the bankruptcy judge overseeing the hearing raised questions about the mortgage lender's ...

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Harrisburg City Council Loses Bid to Reinstate Bankruptcy - Bloomberg

05/15/12

AFSCME District Council 90, 12-cv-00130, U.S. District Court, Middle District of Pennsylvania (Harrisburg). The bankruptcy case was In re City of Harrisburg, Pennsylvania, 1:11-bk-06938, U.S. Bankruptcy Court, Middle District of Pennsylvania (Harrisburg).

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Ex Filed Bankruptcy. What About My Motorcycle? - FOXBusiness

05/15/12

In those cases, the lender would take the bike back, sell it and send you a bill for the difference. Your wife's bankruptcy may protect her from paying the difference, but it does not protect you. That being said, I just don't understand why the ...

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2nd UPDATE: Ally Financial CEO Says US Businesses Not For Sale - NASDAQ

05/15/12

NEW YORK -(Dow Jones)- The bankruptcy of Ally Financial Inc.'s troubled mortgage business and potential sales of its international units will put the auto lender on stronger footing, Ally executives said Tuesday, despite questions about the ...

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Bankruptcy trustee digs deeper into where Direct Air money went - Worcester Telegram & Gazette

05/15/12

Worcester lawyer Joseph H. Baldiga, the trustee appointed to oversee Direct Air's liquidation, said in a motion filed in U.S. Bankruptcy Court here yesterday that he needs authorization to do so in order to look into potential fraud and ...

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Cagle’s Wins Court Approval to Sell Assets to Koch Affiliate (Update 1) - Bloomberg

05/15/12

Cagle’s Inc. (CAGAQ), a poultry producer, won court approval to sell its assets for about $93 million to JCG Foods LLC, an affiliate of Koch Foods Inc. U.S. Bankruptcy Judge Joyce Bihary approved the sale to closely held JCG, which is owned by ...

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LightSquared Files For Bankruptcy Protection - NPR News

05/15/12

LightSquared, which had been trying for years to build a high-speed wireless broadband network, has filed for Chapter 11 bankruptcy. The company's plans ran afoul of government regulators who said the new network would interfere with GPS signals.

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Octomom Can't Even Go Bankrupt Right! - TMZ.com

05/15/12

... paperwork in time -- and never asked the court for an extension -- so her bankruptcy case was dismissed.  Without the protection of bankruptcy, all her creditors can come calling again ... a list TMZ previously reported was a mile long. 

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