News

Source: Coyotes sale imminent - CNN Sports Illustrated

05/07/12

Jamison still must complete negotiations on a lease with the city of Glendale, always the nagging issue in the league's attempts to sell the team, which the NHL purchased out of bankruptcy. The sale also would have to be approved by the league's ...

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Mortgage investors rebuffed in WaMu bankruptcy - Yahoo Finance

05/07/12

Under a reorganization plan approved by the judge earlier this year, some $7 billion will be distributed to creditors, including significant recoveries for shareholders, who often are left with nothing in bankruptcy cases. The plan is based on ...

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Cities seek more money from tax-exempt colleges - Washington Times

05/07/12

PROVIDENCE, R.I. (AP) — Wary of tax increases, weary of layoffs and determined to avoid bankruptcy, Providence Mayor Angel Taveras had only to gaze up at his city’s Ivy League campus to see a way out of the morass. On College Hill sits Brown ...

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Mortgage investors rebuffed in WaMu bankruptcy - AP - msnbc.com

05/07/12

Under a reorganization plan approved by the judge earlier this year, some $7 billion will be distributed to creditors, including significant recoveries for shareholders, who often are left with nothing in bankruptcy cases. The plan is based on the ...

[more]

Bankruptcy of Security Bank parent shows local, Venezuelan investors lost big - The Business Journal

05/07/12

Miami-based Faro Bancorp, the parent company of Security Bank, filed for Chapter 7 liquidation. Its bankruptcy attorney, David Softness, couldn't immediately be reached for comment. Of the 59 individuals and companies identified as Faro Bancorp ...

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Bankruptcy of Security Bank parent shows local, Venezuelan investors lost big - The Business Journal

05/07/12

Miami-based Faro Bancorp, the parent company of Security Bank, filed for Chapter 7 liquidation. Its bankruptcy attorney, David Softness, couldn't immediately be reached for comment. Of the 59 individuals and companies identified as Faro Bancorp ...

[more]

Ally Said to Receive Treasury Assent on ResCap Bankruptcy - Businessweek

05/07/12

later said the sale won’t happen until there’s progress on resolving the mortgage unit. Ally confirmed last month that ResCap is considering bankruptcy and said the parent company’s loss could range from $400 million to $1.25 billion.

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Judge says Hostess can reject some union contracts - Reuters

05/07/12

The company filed for its first bankruptcy in 2004, citing declining sales, rising ingredient costs, excess capacity and high worker benefit expenses. It tackled some issues - closing bakeries and simplifying some union contracts -- but failed ...

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'Octomom' house sale delayed again - msnbc.com

05/07/12

This is the second sale postponement. Suleman recently began bankruptcy proceedings. Her case is scheduled for a hearing in Santa Ana's federal courthouse next month. A handful of buyers, on the steps of City Hall here, were outnumbered by television ...

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Kodak online photos going to Shutterfly in July - Yahoo Finance

05/07/12

NEW YORK (AP) -- Kodak will close its online-photo service on July 2 after a federal bankruptcy judge approved a $23.8 million sale of the business to Shutterfly. Shutterfly Inc. emerged last month as the sole bidder for Eastman Kodak Co.'s ...

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