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Business bankruptcy filings see slight uptick
After a decline last year, the number of business filing for bankruptcy is on the increase. There were 36 in the first quarter of 2011, 43 in the second quarter, a 16% increase. "People who never thought they would file bankruptcy, who were on top of
Updated: 09/08/2011 05:22A
Bankruptcy battle could leave Newpage overlevered says CreditSights
Newpage's bankruptcy will be neither simple nor short, predicts credit research firm CreditSights in a new report, and the company that emerges from bankruptcy could still be overleveraged. Different classes of investors are squaring up for a battle
Updated: 09/08/2011 05:20A
NewPage to continue operations during restructure
MIAMISBURG, Ohio — NewPage Corp. announced Wednesday that its US operations will continue as normal while the company goes through the Chapter 11 bankruptcy restructuring process. The papermaker, which operates central Wisconsin paper mill facilities
Updated: 09/08/2011 05:16A
NEWPAGE BANKRUPTCY
NEWPAGE Corporation's bankruptcy filings in the US and Nova Scotia courts have thrown a clear light, if a harsh one, on the survival chances of its pulp and paper operations at Point Tupper. Those prospects can be summed up in two words: new owner.
Updated: 09/08/2011 05:07A
NewPage bankruptcy outlined with cold clarity
NEWPAGE Corporation's bankruptcy filings in the US and Nova Scotia courts have thrown a clear light, if a harsh one, on the survival chances of its pulp and paper operations at Point Tupper. Those prospects can be summed up in two words: new owner.
Updated: 09/08/2011 05:07A
NewPage sours potential gain from shipbuilding
The NewPage Port Hawkesbury Corp., a Nova Scotia unlimited liability company, was put into bankruptcy late Tuesday. At the same time, parent company NewPage Corp. filed for Chapter 11 bankruptcy protection in the United States.
Updated: 09/08/2011 05:06A
NewPage employees hope for positive result
"(NewPage is) my single best customer in the Midwest," said Dan Christopherson, regional sales manager for Voith in Appleton, which sells paper machines and equipment to paper mills. For Christopherson and some NewPage workers, Wednesday's announcement
Updated: 09/08/2011 05:03A
Corenso North America Corp. among NewPage creditors
Unsecured debt simply means there isn't collateral, said Jonathan Lipson, a University of Wisconsin Law School professor and expert on corporate bankruptcy. An example of secured debt would be a car loan that would allow the company to take the car if
Updated: 09/08/2011 05:03A
NewPage Corp. files for Chapter 11 bankruptcy protection
However, as with all Chapter 11 filings, liquidation of assets, closures and layoffs remain possibilities if the stakeholders cannot agree on a restructuring plan, said Jim Seward, an associate professor of finance and academic director of the Nicholas
Updated: 09/08/2011 05:03A
Troubled Carmaker Saab Files for Credit Protection
Filing what Saab Automobile details as a voluntary reorganization (effectively a bankruptcy), the car company filed this latest chapter of financial hardship in a Swedish district court. Recapping the pains of Saab Automobile, the past two years
Updated: 09/08/2011 05:01A
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