News

Hostess Threatens Layoff Of 187 Around Connecticut But Hopes To Save Jobs - Hartford Courant

05/15/12

The privately owned company said it hopes to save jobs as it emerges from bankruptcy. “The notices were sent to alert employees that a sale or wind down of the company is possible in the future. However, our goal is still to emerge from ...

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LightSquared Files Bankruptcy After Wireless Network Blocked - San Francisco Gate

05/15/12

Bankruptcy "is intended to give LightSquared sufficient breathing ... LightSquared's biggest unsecured creditors include Boeing Satellite Systems Inc., owed $7.5 million, and Alcatel-Lucent, owed $7.3 million. Debt includes $322.3 million ...

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LightSquared Files Bankruptcy After Wireless Network Blocked - San Francisco Gate

05/15/12

May 15 (Bloomberg) -- LightSquared Inc. filed for bankruptcy, saying it will seek to resolve the concerns of U.S. regulators who thwarted the company's plan to deliver high-speed wireless to as many as 260 million people. LightSquared ...

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LightSquared Files for Chapter 11 - Big Hollywood

05/15/12

In February of 2005, Barack Obama invested more than $50,000 in a company called SkyTerra, later known as the wireless networking company LightSquared. According to the New York Times, Skyterra’s principal backers included four of Obama's ...

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The Challenges in ResCap’s Bankruptcy - New York Times

05/15/12

The lingering mortgage crisis has finally reached the bankruptcy courts in a substantial way with ... ResCap has been caught in the vice of litigation brought by both homeowners and mortgage-backed securities investors. And their funding is ...

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The Challenges in ResCap’s Bankruptcy - New York Times

05/15/12

The lingering mortgage crisis has finally reached the bankruptcy courts in a substantial way with ... ResCap has been caught in the vice of litigation brought by both homeowners and mortgage-backed securities investors. And their funding is ...

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ResCap to Stop Funding $1.7 Billion in Home Equity Loans - Bloomberg

05/15/12

Residential Capital LLC, the bankrupt mortgage company indirectly owned by the U.S. government, won court approval to quit funding $1.7 billion in consumer home equity lines of credit to conserve cash. U.S. Bankruptcy Judge James Peck in ...

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ResCap to Stop Funding $1.7 Billion in Home Equity Loans - Bloomberg

05/15/12

Residential Capital LLC, the bankrupt mortgage company indirectly owned by the U.S. government, won court approval to quit funding $1.7 billion in consumer home equity lines of credit to conserve cash. U.S. Bankruptcy Judge James Peck in ...

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Lightsquared to push forward with satellite venture after declaring bankruptcy - GlobalPost

05/15/12

Lightsquared, a 4G satellite network start-up, has said that despite its bankruptcy filing on Monday, it will continue to press the Federal Communications Commission to approve its wireless airwave licenses, the Washington Post reported Tuesday.

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Fitch cuts ResCap long-term issuer default rating - Yahoo Finance

05/15/12

NEW YORK (AP) -- Fitch Ratings lowered the long-term issuer default ratings for Residential Capital on Tuesday, a day after Ally Financial's troubled mortgage business filed for Chapter 11 bankruptcy protection. Residential Capital, or ResCap ...

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