Reorganizations

4th UPDATE: Ally Fincl: ResCap Mortgage Subsidiaries File Chapter 11 - Wall Street Journal

05/14/12

NEW YORK (Dow Jones)--A judge on Monday said Residential Capital Corp. could begin borrowing on a $1.45 billion bankruptcy loan from a group led by Barclays PLC (BCS), hours after the Ally Financial Inc. mortgage subsidiary filed for Chapter 11 ...

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Former subprime lender ResCap files for Chapter 11 - Philadelphia Daily News

05/14/12

Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection Monday in New York. The move, which analysts had been expecting for months, is a reminder of the ...

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Ally's mortgage arm files for Chapter 11 - AZCentral.com

05/14/12

DETROIT - The U.S. government is hoping that Monday'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 Chapter 11 ...

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LightSquared Files Bankruptcy After Wireless Network Blocked - San Francisco Gate

05/14/12

LightSquared, based in Reston, Virginia, listed assets of $4.48 billion and debt of $2.29 billion as of Feb. 29 in a Chapter 11 filing today in U.S. Bankruptcy Court in Manhattan. The filing followed intense negotiations with creditors ...

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LightSquared Implements Voluntary Chapter 11 Restructuring - TMCnet

05/14/12

LightSquared (News - Alert) announced today that it commenced voluntarily reorganization cases under Chapter 11 of the U.S. Bankruptcy Code to give it time to resolve regulatory issues that have prevented it from building its coast-to-coast ...

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LightSquared files for Chapter 11 bankruptcy protection - GlobalPost

05/14/12

LightSquared Inc., a Reston, Va.-based high-speed wireless company that planned to compete with Verizon and AT&T, filed for Chapter 11 bankruptcy protection today, the New York Times reported. The company filed for bankruptcy after failing to reach an ...

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LightSquared files for Chapter 11 - Chicago Tribune

05/14/12

LightSquared Inc., which hoped to create an independent wireless broadband network in the U.S., has filed for bankruptcy protection. Regulators blocked its plan this winter because of concerns that its transmissions would interfere with GPS ...

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LightSquared files Chapter 11 bankruptcy - The Business Journal

05/14/12

LightSquared LightSquared Latest from The Business Journals LightSquared files for Chapter 11 protection LightSquared moves toward bankruptcy DBJ Tech Watch for Monday: Upheaval at Yahoo, Facebook's IPO, Microsoft, Apple Follow this company Inc ...

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Dewey Troubles Touch NewPage Chapter 11 - Wall Street Journal

05/14/12

Curious what happens to a client whose law firm is on the brink of collapse? Just ask paper maker NewPage Corp., which saw a hearing on a key issue in its Chapter 11 case pushed back because of the “extraordinary difficulties” its lawyers ...

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Ally's ResCap Unit Files For Chapter 11 - FOXBusiness

05/14/12

WASHINGTON – Ally Financial Inc.'s Residential Capital unit, or ResCap, announced Monday that its board of directors voted over the weekend to enter Chapter 11 bankruptcy. ResCap is Ally's troubled mortgage subsidiary. Ally is the former ...

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