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Figures: More companies going bust
The Accountant in Bankruptcy (AiB) received 361 notices of Scottish businesses becoming insolvent or entering receivership in the second quarter of 2011-12 (July, August and September), up 46% on the same quarter last year.
Updated: 10/19/2011 01:00P
AMR Posts $162 Million Loss on Fuel as Cost Squeeze Persists
Oct. 19 (Bloomberg) -- American Airlines parent AMR Corp., stung by bankruptcy speculation and the US industry's longest profit drought, reported a third-quarter loss of $162 million as jet-fuel prices soared.
Updated: 10/19/2011 12:58P
Best in Blogs: Red Red Ink? UB40 Goes Bankrupt
Which internationally-famous reggae band just filed for bankruptcy? In the whole 99% vs. 1% debate, what percent are you exactly? And which book should you read when you're on the run from the Walking Dead?
Updated: 10/19/2011 12:45P
In the courts
On October 12, 2011, the Bankruptcy Court for the Southern District of New York brought TerreStar Network's Chapter 11 bankruptcy proceeding one step closer to conclusion by approving the debtor's $98 million settlement with two separate creditor
Updated: 10/19/2011 12:42P
Deutsche Bank Loses Bid to Rename $2.4 Billion in Lehman Claims
At a court hearing today, US Bankruptcy Judge James Peck agreed with Lehman's contention that it had a right to reclassify the claims under a deal struck with bankrupt Bankhaus last year on settling intercompany obligations. “My understanding is that
Updated: 10/19/2011 12:38P
Preference actions: a nasty surprise for trade creditors
Although the number of commercial bankruptcy filings has dropped, the number of lawsuits arising out of these bankruptcies is on the rise. These lawsuits are called “avoidance actions” because they seek to avoid or “unwind” transfers to third parties.
Updated: 10/19/2011 12:28P
No trustee appointed for Solyndra bankruptcy
The Fremont-based solar company, which filed for bankruptcy protection, had received $535 million in US Department of Energy loan guarantees and laid off 1100 employees, has reportedly convinced a judge not to let a trustee take over its bankruptcy
Updated: 10/19/2011 12:18P
Greek austerity protesters clash with police
(ATHENS, GRC) - Greek police fired tear gas as protestors threw firebombs, burnt dustbins and vandalised shops on Wednesday at the start of a two-day strike ahead of a vote on a new austerity bill to stave off bankruptcy. Police in Athens clashed with
Updated: 10/19/2011 12:12P
Deutsche Bank Asks to Reprice $2.4 Billion Lehman Claim
At a court hearing today, US Bankruptcy Judge James Peck told lawyers for Deutsche Bank, “My understanding is that Deutsche Bank bought the claims under an acquisition agreement. You acquired affiliate claims and you can't improve your position simply
Updated: 10/19/2011 12:11P
Plan 9 Music files for Chapter 11
Plan 9 Music filed for Chapter 11 bankruptcy protection in US District Court in Richmond on Monday. The retailer's attorney, Joe Liberatore, said that the bankruptcy will allow owner Jim Bland to reorganize and continue to operate the company as a
Updated: 10/19/2011 12:09P
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