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The Daily Docket: Ross Sees Bankruptcy as Venue for Bank Acquisitions

10/16/13
Peter Foley/Bloomberg News
Wilbur Ross

Wilbur Ross, whose Talmer Bancorp has agreed to invest $97 million to take over Capitol Bancorp’s stakes in its fo

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The Daily Docket: Alitalia Shareholders Agree to Raise Money

10/15/13

Shareholders for Italian airline Alitalia approved a proposal to raise up to EUR300 million ($406.9 million) to try to save it from bankruptcy, The Wall Street Journal reports.

According to WSJ, some of Suntech’s U.S. bondholders are trying to force the Chinese solar-panel maker into bankruptcy in the U.S.

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Puerto Rico’s El Vocero Defends Sale Maneuver

10/15/13

Puerto Rico’s struggling Spanish-language newspaper El Vocero has a survival strategy to avoid becoming yet another victim of the consolidation wave sweeping the media industry.

Attorneys who put the daily newspaper into bankruptcy in September want to sell it but with a controversial restriction: they want the power to throw out bids from investors who already own other newspapers on the island.

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The Daily Docket: Alitalia Shareholders to Vote on Bailout Plan

10/14/13

Alitalia’s shareholders meet Monday to vote on raising €500 million ($677 million) in a plan that could bring the Italian government back as an owner of the airline, five years after privatization of the carrier cost taxpayers billions of euros, The Wall Street Journal reports.

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The Daily Docket: Furniture Brands Seeks OK for Bankruptcy Bonuses

10/11/13

The government’s bankruptcy watchdog is balking at Furniture Brands International’s bid to hand out more than $5 million in bonuses to a group of key employees, including several company insiders, the Daily Bankruptcy Review reports.

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The Daily Docket: Patriot Coal Sees Exit From Bankruptcy by Year End

10/10/13

Patriot Coal reached a settlement with Peabody Energy Corp. that provides funding for a union retiree benefits fund and will allow the coal mining company to exit bankruptcy by the end of the year. Read the story in the Daily Bankruptcy Review.

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The Daily Docket: Dead Bank Bondholders Win Round Against FDIC

10/09/13

Bondholders of Downey Financial Corp. won big Tuesday when a bankruptcy judge said the former home lender, not the Federal Deposit Insurance Corp., has top claim on a $374 million tax refund. Read the Daily Bankruptcy Review story via The Wall Street Journal.

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Government Shutdown Delays Medical Supplier’s Bankruptcy Exit

10/08/13

Blaming the government shutdown, lawyers for the Centers for Medicare and Medicaid Services persuaded a bankruptcy judge on Monday to delay a court hearing that could have allowed a California medical supplier to get out of Chapter 11 protection.

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The Daily Docket: Energy Conversion Trustee Sues Companies for $950M

10/08/13

A bankruptcy trustee for failed solar panel manufacturer Energy Conversion Devices is suing three Chinese companies for $950 million over allegations of price fixing and the dumping of cheap solar panels that drove the U.S. company out of business. Read the DBR Small Cap article via The Wall Street Journal.

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The Daily Docket: Stockton Strikes Deal With Bond Insurer

10/07/13
Ben Margot/Associated Press

Struggling Stockton, Calif., struck a deal with the bond insurer behind the city’s roughly $125 million pension bond debt—its largest borrowed debt—that will enable the city to stretc

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