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Equititrust close to paying out debt
GOLD Coast fund manager Equititrust has revealed it is just weeks away from paying out the last of its debt to the National Australia Bank, after this week tipping one of its wayward borrowers Dudley Quinlivan into bankruptcy.
Updated: 09/16/2011 12:14P
Paulson-controlled resorts seek Ch. 11 extension
Tuesday will ask the New York bankruptcy court to extend their exclusive control over their Chapter 11 bankruptcy case, which could see the sale of at least one of the high-end properties. The company that owns the properties is seeking to keep the
Updated: 09/16/2011 12:13P
Judge approves $30 million ADM purchase of of Olsen's Mill
By Anonymous AP A federal bankruptcy judge has approved a sale of assets that gives Archer Daniels Midland capacity to store 20 million bushels of grain in Wisconsin. The Decatur, Ill., company is buying assets and property of Olsen's Mill and Olsen
Updated: 09/16/2011 12:11P
Superseding indictment returned against Lancaster man
The first superseding indictment charged Reidenbach with bankruptcy fraud, concealing assets during a bankruptcy proceeding, and embezzling from a bankruptcy estate arising from the concealment of $40000 in real estate proceeds in a law firm account
Updated: 09/16/2011 12:02P
Citibank asks for trustee in Howrey bankruptcy
NEW YORK, Sept 16 (Reuters) - Citibank has asked a bankruptcy court to appoint a trustee in the Howrey bankruptcy case as negotiations have broken down between the defunct law firm and its largest creditor. Citibank filed papers Thursday in San
Updated: 09/16/2011 11:57A
Fitch: No High-Yield Defaults In Aug; Rate Expected To Rise In Sept
August was the third month this year to end with no high-yield defaults in the US, according to Fitch Ratings, though it said the recent bankruptcy filing by paper company NewPage Corp. will move the default rate up again in September.
Updated: 09/16/2011 11:57A
CORRECTED Poultry Co. Townsends Converts Bankruptcy To Ch. 7
Law360, New York (September 14, 2011, 6:53 PM ET) -- Bankrupt poultry processor Townsends Inc. has abandoned its Chapter 11 bankruptcy petition and said it wants to enter a Chapter 7 liquidation under a plan submitted Wednesday to a
Updated: 09/16/2011 11:49A
UAW official says agreement may be near with GM
Ashton says in an e-mail to members that he is optimistic the talks are entering their final stage and that a settlement is within reach. The union and GM agreed to extend the old contract after it expired on Wednesday night.
Updated: 09/16/2011 11:43A
BC-Business News Preview,Advisory
AP WROCLAW, Poland —Greece's international rescue partners will delay until October their decision on paying out a batch of bailout loans needed to keep Greece from a disastrous bankruptcy. By David McHugh and Gabriele Steinhauser. AP Photos.
Updated: 09/16/2011 11:42A
Slow Down on the Solyndra Criticism! Of Course Government Can Foster Innovation
The bankruptcy of Solyndra, the solar energy company that received a $535 million loan guarantee from the Department of Energy, has touched off the predictable partisan food fight, with the Obama administration on the defensive.
Updated: 09/16/2011 11:41A
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