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Britt Motorsports files for Chapter 11 bankruptcy
The filing Friday, in US Bankruptcy Court for Eastern North Carolina, listed assets of approximately $5 million and debts of $8.2 million. Under Chapter 11, a company seeks protection from creditors in order to reorganize and pay its
Updated: 10/12/2011 01:30P
Pennsylvania state capital files for bankruptcy protection
Carolyn Kaster / AP The State Capitol complex dominates the skyline of Harrisburg, Pa., which is taking the rare step of filing for bankruptcy protection from creditors. By Patrick Rizzo The potent brew of a weak recovery, falling revenues and high
Updated: 10/12/2011 01:26P
Report: Most potential buyers in Evergreen Solar auction are from China
When Evergreen declared bankruptcy in August, it owed $485.6 million to as many as 5000 creditors. Attorneys for the US Department of Energy in the bankruptcy case of Massachusetts-based Evergreen Solar argued that because the government has ownership
Updated: 10/12/2011 01:25P
Harrisburg, Pa., Seeks Chapter 9 Bankruptcy Protection Following Incinerator
Faced with state takeover, the Harrisburg, Pa., city counsel yesterday evening voted to seek Chapter 9 bankruptcy protection. According to Bloomberg News, the state's capital city of 49500 faces a debt burden five times its
Updated: 10/12/2011 01:24P
Dauphin County commissioners react to Harrisburg's bankruptcy filing
By The Patriot-News Dauphin County Commissioners Jeff Haste, Mike Pries and George P. Hartwick, III issued the following statement today regarding Harrisburg City Council's petition for Chapter 9 municipal bankruptcy: “We are currently reviewing the
Updated: 10/12/2011 01:14P
Innkeepers, Cerberus Get Extra Week on Hotel-Sale Talks
For the third consecutive day, a trial over whether Cerberus and deal partner Chatham Lodging Trust should be forced to close a $1.12 billion purchase of most of Innkeepers's hotels as part of a bankruptcy-exit plan didn't get under way.
Updated: 10/12/2011 01:14P
Solyndra Seeks Chief Restructuring Officer After CEO Departs
There have been “no substantiated claims of any wrongdoing,” although the US's $535 million loan to Solyndra has been “the subject of highly publicized political discussion and negative press,” creditors said. Bankruptcy law calls for a trustee on a
Updated: 10/12/2011 01:11P
Innkeepers, Cerberus trial delayed
A lawyer for Innkeepers announced the latest delay after the parties met privately on Wednesday morning with Judge Shelley Chapman in US Bankruptcy Court in Manhattan. No specific reason was given for the postponement. Cerberus and Chatham in August
Updated: 10/12/2011 01:10P
Real Stories. Real People: Jeanette Friedman
They decided that they had to claim bankruptcy and notified the banks to work out a plan to re-negotiate their mortgage so that they could remain in their home. According to Friedman, "They just refused." Trustees from the US Bankruptcy Court came and
Updated: 10/12/2011 01:09P
Harrisburg mayor: Bankruptcy filing was not legal
HARRISBURG - Pennsylvania's financially distressed capital is seeking Chapter 9 bankruptcy, citing overwhelming debt, but Harrisburg's mayor and top city lawyer said the filing signed by a City Council member was not legal. The petition filed Tuesday
Updated: 10/12/2011 01:09P
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