News

Overall bankruptcy filings down here, but Ch. 11 stays level - Arizona Daily Star

05/09/12

Bankruptcy filings in Tucson fell by 20 percent in April compared with the same month a year ago, while filings statewide fell nearly 25 percent. But Chapter 11 business reorganization filings remain at about the same level as last year, according to the ...

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Bidders bypass stations during bankruptcy auction - Rutland Herald

05/09/12

There were apparently no takers for a dozen Vermont radio stations that were part of a package of stations put up for sale at a bankruptcy auction last week. Nassau Broadcasting Partners put its 49 stations up for sale to satisfy creditors as ...

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Bankruptcy case threatens cross-border partnership - Houston Chronicle

05/09/12

On the eve of Trans-Pacific Partnership (TPP) negotiations, now under way in Dallas, more than 15 Texas congressional leaders, including Rep. Kay Granger, R-Fort Worth, and Rep. Pete Sessions, R-Dallas, wrote to U.S. Trade Representative Ron Kirk urging ...

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Ally Said to Get ResCap Bondholder Backing for Bankruptcy - Businessweek

05/09/12

Investors holding at least $800 million in ResCap debt, including John Paulson’s Paulson & Co. and David Tepper’s Appaloosa Management LP, hired law firm White & Case LLP and partner Gerard Uzzi in January to oppose a bankruptcy. Gina Proia ...

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Ally Said to Get ResCap Bondholder Backing for Bankruptcy - Bloomberg

05/09/12

Ally Financial Inc. (ALLY), the auto lender majority-owned by U.S. taxpayers, received an oral commitment from bondholders of Residential Capital to support a bankruptcy filing for the mortgage unit that could come early next week, people with ...

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Ally Said to Get ResCap Bondholder Backing for Bankruptcy - Bloomberg

05/09/12

The bankruptcy plan received conditional approval from the ... Ally ranked No. 1 in financing U.S. consumer auto sales for 2011 with more than $40 billion in contracts for new or used cars and trucks, or about 1.5 million vehicles.

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Las Vegas developer lists over $500 million in debt in bankruptcy filing - Chicago Tribune

05/08/12

In his personal bankruptcy case, creditors are likely to look into Plise's finances, and some of their attorneys have already signed in with the court to signal their participation. Plise is involved in a dozen lawsuits already, most over ...

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Unfairness to homeowners blocks recovery - Marketwatch

05/08/12

When this happens to commercial property owners, our law gives them an escape route. They can file a Chapter 11 reorganization. While Chapter 11 filings are expensive, risky and uncertain, Chapter 11 gives commercial property owners the power of ...

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Ally nears bankruptcy deal with ResCap creditors -source - Reuters UK

05/08/12

is 74 percent owned by the government and owes taxpayers about $12 billion (7 billion pounds). ResCap has been pummelled over the last few years by mortgage problems and has been at the heart of Ally's woes. A ResCap bankruptcy is seen as the ...

[more]

Ally nears bankruptcy deal with ResCap creditors -source - Reuters UK

05/08/12

is 74 percent owned by the government and owes taxpayers about $12 billion (7 billion pounds). ResCap has been pummelled over the last few years by mortgage problems and has been at the heart of Ally's woes. A ResCap bankruptcy is seen as the ...

[more]