News

Hawker Beechcraft hoping to exit Chapter 11 by year’s end - The Business Journal

05/14/12

Hawker Beechcraft Corp. Hawker Beechcraft Corp. Latest from The Business Journals Hawker Beechcraft creditors committee named Hawker Beechcraft hands out 150 new layoff notices Panera management on the move Follow this company Executive Vice ...

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Ally Financial mortgage unit files for Chapter 11 bankruptcy protection - Memphis Commercial Appeal

05/14/12

DETROIT (AP) — The U.S. government is hoping that today’s bankruptcy filing by Ally Financial Inc.’s troubled mortgage business will help the company repay its government bailout faster. Residential Capital LLC, or ResCap, filed for ...

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Court says farmers must pay bankruptcy tax - San Jose Mercury News

05/14/12

WASHINGTON—The Supreme Court says a farming family has to pay tax on the bankruptcy sale of their farm. The high court on Monday voted 5-4 for the IRS in its fight with Lynwood and Brenda Hall over their bankruptcy sale of their 320-acre farm ...

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Court says farmers must pay bankruptcy tax - El Paso Times

05/14/12

WASHINGTON—The Supreme Court says a farming family has to pay tax on the bankruptcy sale of their farm. The high court on Monday voted 5-4 for the IRS in its fight with Lynwood and Brenda Hall over their bankruptcy sale of their 320-acre farm ...

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ResCap, Ally Financial Mortgage Unit, Nearing Bankruptcy - Huffington Post

05/14/12

NEW YORK, May 13 (Reuters) - Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage ...

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Declining Number of Bankruptcy Filings may be Due to Rising Costs ConsolidatedCredit.org … - YAHOO!

05/14/12

Howard Dvorkin, author of Credit Hell: How To Dig Out of Debt and founder of ConsolidatedCredit.org, says many consumers are unfamiliar with the hidden fees associated with bankruptcy. “In addition to paying for the Chapter 7 or Chapter 13 petition ...

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After bankruptcy filing, company says Montco jobs safe - The Business Journal

05/14/12

Ally Financial Inc. Ally Financial Inc. Latest from The Business Journals Ally Financial mortgage unit set to file for bankruptcy Hawaii homeowners to start getting mortgage relief letters under settlement Ally Financial again dogged by mortgage ...

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Ally hopes to end mortgage woes with ResCap bankruptcy - MSN Money

05/14/12

NEW YORK (Reuters) - Ally Financial Inc's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help set it on a path to repaying $12 billion in bailout money. Ally's mortgage unit ...

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Residential Capital files for Chapter 11 bankruptcy protection - nola.com

05/14/12

Residential Capital LLC, a perpetually troubled mortgage subsidiary of government-owned Ally Financial Inc., has filed for bankruptcy protection. The filing early Monday will separate the money-losing operations of Residential Capital, or ResCap ...

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Ally Financial's ResCap mortgage unit files for bankruptcy - USA Today

05/14/12

In the filing with the U.S. Bankruptcy Court in New York, ResCap lists $15.7 billion in assets and $15.3 billion in debt. The filing says ResCap has reached a deal for companies funded by private equity firm Fortress Investment Group to buy ...

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