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The Falconer: Book store closing leaves many upset
Borders took up to 80 percent off retail prices in attempt to liquidate inventory after declaring bankruptcy. - sophie byvik For some, it came as a shock when, in late July, Borders announced its bankruptcy and subsequent closing of all 399 of its
Updated: 09/26/2011 12:04P
Party's over for bankrupt Terry Serepisos
PricewaterhouseCoopers partner John Fisk spelled out the impact of bankruptcy yesterday, saying: "Your financial affairs are taken out of your hands and it becomes the responsibility of the official assignee to deal with any assets and creditors and
Updated: 09/26/2011 12:03P
Travelport saga — Is private equity a savior or villain in travel?
And, as has been well-documented, Blackstone turned around and almost immediately paid back its investors by borrowing and paying itself a dividend through a $1.1 billion payment-in-kind (PIK) loan, which it burdened Travelport Holdings with.
Updated: 09/26/2011 12:03P
Loan promise fails to prevent bankruptcy
The promise of a foreign loan was not enough to stave off bankruptcy for a man who owes more than $200 million to numerous creditors. Bankruptcy means Terry Serepisos, the director of at least 10 companies, is now unable to be a director and his debts
Updated: 09/26/2011 12:02P
Solyndra Lists California Democratic Party as Creditor
Out of the hundreds of out-of-work employees, vendors, investors and other creditors in the bankruptcy of government-backed solar-panel maker Solyndra LLC, one name stands out: the California Democratic Party.
Updated: 09/26/2011 12:00P
Party's over for capital playboy
PricewaterhouseCoopers partner John Fisk spelled out the impact of bankruptcy yesterday, saying: "Your financial affairs are taken out of your hands and it becomes the responsibility of the official assignee to deal with any assets and creditors and
Updated: 09/26/2011 12:00P
USG Corporation Chairman William C. Foote to Retire; Board Elects James S
“the most successful managerial performance in bankruptcy that I've ever seen.” Mr. Foote has served as USG's Chairman since 1996, after having been elected Chief Executive Officer in 1995 and President in 1994. Mr. Foote has nearly 27 years of service
Updated: 09/26/2011 12:00P
Bankrupt Airline Flies Again on TV
AP Pan American World Airways landed in bankruptcy and shut down two decades ago, but the airline took off again Sunday evening with the television premiere of “Pan Am.” The defunct airline's name was everywhere on last night's
Updated: 09/26/2011 11:56A
In re Delco Oil, Inc.: post-petition transfers of cash collateral
Therefore, should a case be converted to Chapter 7, a trustee could avoid a debtor's post-petition transfers of funds that were cash collateral, notwithstanding that the payments had been made in good faith and in the ordinary course of business.
Updated: 09/26/2011 11:28A
Linden Ponds emerges from bankruptcy with $142M bond refi
The Linden Ponds retirement village in Hingham has formally emerged from bankruptcy protection after closing on a $142 million bond-refinancing plan underwritten by MassDevelopment . The move comes roughly a month after Linden Ponds' reorganization
Updated: 09/26/2011 11:22A
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