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Bank of America: Countrywide Bankruptcy on the Table, says Bloomberg
Bank of America (BAC) would be willing to declare bankruptcy at Countrywide if the lender's litigation losses threaten the health of the parent company, Bloomberg reported today, citing four people familiar with the bank's thinking.
Updated: 09/16/2011 09:27A
Bankruptcy Still an Option for BofA's Countrywide
The threat of a Countrywide bankruptcy is a “nuclear” option that Chief Executive Officer Brian T. Moynihan could use as leverage against plaintiffs seeking refunds on bad mortgages, said analyst Mike Mayo of Credit Agricole Securities USA.
Updated: 09/16/2011 09:24A
Was InnoVida South Florida's Solyndra?
Solyndra, a solar panel manufacturer, received $500 million and a visit from President Barack Obama just two months before closing and filing for bankruptcy. InnoVida was a manufacturer of construction panels in North Miami and worldwide.
Updated: 09/16/2011 09:24A
The Daily Docket: NHL's Dallas Stars File for Bankruptcy with Deal in Hand
The National Hockey League's Dallas Stars filed for bankruptcy protection Thursday evening, with a proposal to put the franchise on the auction block and an initial offer in hand from Canadian hospitality executive Tom Gaglardi.
Updated: 09/16/2011 09:23A
Opel again part of GM's global plans
After emerging from bankruptcy just two years ago, US-based General Motors cancelled plans to sell Opel to Canada's Magna, eventually restructuring its GM Europe operation that also includes Opel's UK sister Vauxhall brand. While reports emerged this
Updated: 09/16/2011 09:21A
Borders auction raises $15.8M from 10 bidders
The outcome of the auction is subject to approval by the US Bankruptcy Court for the Southern District of New York. A hearing is scheduled for Sept. 20. Borders, long a shopping mall staple, filed for bankruptcy in February.
Updated: 09/16/2011 09:19A
Disbarred lawyer hit with contempt order in bankruptcy court
A revoked law license and explicit orders from a federal judge apparently couldn't stop a Milwaukee woman from helping debtors file for bankruptcy. So now, US Bankruptcy Judge Susan Kelley has found Jennifer
Updated: 09/16/2011 09:19A
Greek bailout loan decision pushed to October
Beginning of Story Content Greece's international rescue partners will delay until October their decision on paying out a batch of bailout loans needed to keep Athens from a disastrous bankruptcy, the head of the eurozone finance ministers' group said
Updated: 09/16/2011 09:15A
"Daily Show" chides Obama over Solyndra bankruptcy
Maybe you've heard: A solar energy company called Solyndra declared bankruptcy last month, and has just laid off its entire 1000 person workforce. As Jon Stewart noted on "The Daily Show" last night, the business's failure has the
Updated: 09/16/2011 09:14A
Sweet Music To Soothe The Savage Banker
The world's biggest central banks came together yesterday in a financial choir to sing a hymn called “There Will Never Be Another Lehman.” The news came on the third anniversary of the date on which Lehman Brothers,
Updated: 09/16/2011 09:12A
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