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Report: USPS On Brink Of Bankruptcy
The United States Postal Service could shut down this winter without some emergency help from Congress. According to the New York Times, the agency faces default if it can't make a $5.5 billion payment due this month. The agency's deficit is projected
Updated: 09/05/2011 09:45A
Aircraft Financing – What You Should Know
In a typical structure using a bankruptcy remote SPV, the company is incorporated as an exempted company, the shares of which are issued to a Cayman Islands trustee (usually a licensed trust company) for the benefit of a charitable or purpose trust.
Updated: 09/05/2011 09:44A
Broadstripe Writes Its Last Chapter
A little more than two years after filing for bankruptcy protection, Broadstripe, the former Millennium Digital Media, has agreed to sell its cable assets with more than 100000 customers to
Updated: 09/05/2011 09:29A
GM lawsuit no issue in Kingman
reported GM seeks dismissal of the case because it feels it is not responsible for design flaw repairs predating the "Old GM's" bankruptcy and federal bailout. Benjamin Jeffers, a GM lawyer, told Reuters "New GM's warranty obligations for
Updated: 09/05/2011 09:26A
Elcoteq cuts shifts at base in Hungary
Elcoteq said at the end of August that its Finnish units filed for bankruptcy. The parent company, domiciled in Luxembourg, was earlier accepted in a controlled management procedure. Elcoteq employed 7000 at its base in Pecs (SW Hungary) before the
Updated: 09/05/2011 09:16A
Letter: Cheer on industries providing jobs
Solyndra received a $535 million loan guarantee from the Department of Energy in 2009 and was highlighted in a visit by President Obama. The Reuters story reported that other solar companies have shut down and the industry in Italy tanked after
Updated: 09/05/2011 09:01A
Guest Opinion: Lehigh Acres Fire Dept. faces bankruptcy
At the recent budget workshop the Finance Manager confirmed that even with the Washington bailout we will have a $2.4 million deficit in the coming budget year starting October 1. The reserves are fast disappearing. We cannot borrow money for operating
Updated: 09/05/2011 08:49A
US government-backed solar company Solyndra fails
According to media reports, the company that had developed an innovative cylindrical solar cell technology has ceased opertions in the face of difficult global economic conditions, falling demand for solar panels and tough competition – particularly
Updated: 09/05/2011 08:48A
300 march in Swaziland
Impoverished Swaziland is teetering on the brink of bankruptcy, in a financial crisis that has spawned a series of protests this year to demand that Mswati accept multi-party democracy and resolve a budget crunch that has left the kingdom battling to
Updated: 09/05/2011 08:44A
HMRC clamping down on owners of bankrupt businesses
says law firm Wedlake Bell. Figures from the Insolvency Service reveal that in the last year Bankruptcy Restriction Orders (or equivalent undertakings) were obtained against 443 bankrupts because of neglect of their business - a majority of which
Updated: 09/05/2011 08:24A
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