New York-based KIT digital Inc., which helps get video content to stream over the Web, filed for Chapter 11 bankruptcy protection on Thursday to get rid of some of the underperforming businesses it purchased during a $320 million buying binge. Read the Daily Bankruptcy Review article here.
Waste processor Synagro Technologies Inc. filed for Chapter 11 bankruptcy protection Wednesday with an offer in hand to be acquired by an affiliate of Swedish private-equity firm EQT. Read the Daily Bankruptcy Review article here.
The remains of two long-dormant manufacturing companies—Yarway Corp. and Saberhagen Holdings Inc.—were resurrected in bankruptcy court to deal with thousands of asbestos lawsuits. Read the DBR Small Cap article here.
Liquidators of the Swiss derivatives unit of Lehman Brothers Holdings Inc. said a recent settlement may double recoveries for the subsidiary’s creditors.
This week on The Broke and the Beautiful, former Westlife singer Shane Filan is recording a solo album, and a new documentary looks at the Madoff scandal through a unique perspective. Also, Tareq Salahi’s family winery is on the market.
Struggling shipping company Excel Maritime Carriers Ltd. is nearing a restructuring deal with its lenders but could still have to file for Chapter 11 in the U.S., according to a person familiar with the matter. Read the Daily Bankruptcy Review article here.
