Real Estate

A group of lawyers and marketing professionals had a tough nut to crack: how drum up interest in an abandoned power plant in Hawaii that can turn macadamia shells into energy.

The lawyers are hoping that a multimillion-dollar offer comes in before today’s bid deadline after months of looking for someone who might want the plant.

Interest rates that remain near zero and debt maturities that have been pushed out to 2017 and 2018 have helped drive Chapter 11 filings to historic lows. Has this difficult environment put corporate restructuring on life support?

The Wall Street Journal reports on Energy Future Holdings Corp.’s preparation for a bankruptcy filing.

Long Island, N.Y.’s, shut Long Beach Medical Center filed for Chapter 11 bankruptcy Wednesday to sell what remains of its assets after Hurricane Sandy devastated the hospital a little more than a year ago. Read the Daily Bankruptcy Review article via WSJ.

Overseas Shipholding Group Inc. Monday said it may owe $460 million or more to the Internal Revenue Service, a finding that is likely to upset its Chapter 11 bankruptcy case. Read the Daily Bankruptcy Review article here.

A judge declined to approve AMR Corp.’s plan to exit bankruptcy through a merger with US Airways Group Inc., citing the Justice Department’s antitrust lawsuit against the deal. Read the Daily Bankruptcy Review article via The Wall Street Journal.