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Alabama Country Tries to Avoid Record Municipal Bankruptcy
After months of speculation and negotiation, state legislators in Alabama recently rejected a revenue plan aimed at keeping Alabama's largest county from filing bankruptcy. If Jefferson County is unable to solve a $50 million annual budget shortfall,
Updated: 09/28/2011 11:02A
Solar Shakeout Continues: Stirling Energy Systems Files for Chapter 7 Bankruptcy
RenewableEnergyWorld.com learned late Tuesday evening that SES had filed for Chapter 7 bankruptcy and was going into liquidation. SES had deployed a pilot project using its stirling engines in early 2010 with the 1.5 MW Maricopa Solar Plant in Arizona.
Updated: 09/28/2011 10:59A
Bankrupt Pat & Oscar's closes 3 units
Pat & Oscar's has closed three more Southern California locations as the struggling fast-casual chain, known for its buttery bread sticks, files for Chapter 7 bankruptcy. Company-operated restaurants in
Updated: 09/28/2011 10:54A
WaMu Hedge Funds Seek Appeal Of Bankruptcy Plan Rejection
Four hedge funds involved in the crafting of Washington Mutual's bankruptcy plan have appealed a US Bankruptcy Court's rejection of that plan. The so-called "settlement noteholders," Appaloosa Management, Aurelius Capital Partners,
Updated: 09/28/2011 10:51A
Ratification of Cape Town Convention inches closer
Alternative A provides that on the occurrence of an 'insolvency-related event' (eg, bankruptcy restructuring), an aircraft will be returned to its creditor on the earlier of the end of the waiting period or the date on which the creditor would have
Updated: 09/28/2011 10:47A
Judge denies Wilpon dismissal of Madoff lawsuit; Dodgers file bankruptcy delay
According to Rakoff, the claims could be subordinated if the trustee proves investments were made with "reckless disregard" of fraud. The opinion theoretically allows the recovery of principal repayments if the trustee can show the Wilpon group wasn't
Updated: 09/28/2011 10:44A
Madoff, L.A. Dodgers, Hussey, Lehman, Solyndra: Bankruptcy
According to Rakoff, the claims could be subordinated if the trustee proves investments were made with "reckless disregard" of fraud. The opinion theoretically allows the recovery of principal repayments if the trustee can show the Wilpon group wasn't
Updated: 09/28/2011 10:43A
Gamestop Managment Talks Digital and PowerUp
Seven months ago, Borders, the second-biggest bookstore chain in the US, filed for bankruptcy. At the time, this event only increased the focus on brick-and-mortar specialty retailers, with many believing that this transformation would hit video game
Updated: 09/28/2011 10:36A
Analysis: Frank McCourt's Blood-Bath with Major League Baseball
When MLB rejected an extension of the FOX television deal over concerns about how upfront money in the deal was to be used, Frank threw the club into bankruptcy and since then, it's been war with the league. Now, McCourt has decided to basically become
Updated: 09/28/2011 10:33A
Liquor license sale may help gauge local economy | Philadelphia Inquirer
On Monday, a liquor consumption license that sold for $1.6 million four years ago will be auctioned off as part of the bankruptcy proceedings for a failed bar and restaurant. The auction may offer a glimpse into the hearts and wallets of local
Updated: 09/28/2011 10:31A
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