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Cerberus, Innkeepers Settle Hotel Deal, Price Is $1 Billion
The revised agreement, filed in Manhattan Bankruptcy Court today, is lower than the $1.12 billion previously offered, and still requires final court approval. Innkeepers' unsecured creditors will receive the same treatment as they were promised under a
Updated: 10/19/2011 02:51P
Judge OKs insurance payout to settle Lehman case
NEW YORK, Oct 19 (Reuters) - A US bankruptcy judge approved a request by ex-Lehman Brothers Holdings Inc directors, including former Chief Executive Officer Richard Fuld, to spend about $90 million in insurance money to settle fraud accusations brought
Updated: 10/19/2011 02:51P
Tear gas and firebombs in Greek protests
Violence has marred huge demonstrations in Greece as unions launched a two-day general strike ahead of a vote on a new bill tightening the financial screws in a bid to stave off bankruptcy. Police in Athens clashed with protesters outside parliament
Updated: 10/19/2011 02:50P
Vivek Oberoi Why credit derivatives arent risk-free
The bankruptcy of one such firm, Lehman Brothers, triggered the near collapse of the financial system. In the years since, there has been no dearth of intelligent comment. Very little has, however, been written explaining why instruments expressly
Updated: 10/19/2011 02:48P
Violence mars massive austerity demonstrations in Greece
ATHENS - Violence marred huge demonstrations in Greece on Wednesday as unions launched a two-day general strike ahead of a vote on a new bill tightening the financial screws in a bid to stave off bankruptcy. Police in Athens clashed with protesters
Updated: 10/19/2011 02:43P
TRW Automotive Set To Steer Higher
2008-09 are fresh in people's minds, during which American automakers General Motors (GM) and Chrysler filed for bankruptcy, and Ford (F) barely survived. Auto suppliers such as Delphi and Lear (LEA) trudged into bankruptcy court.
Updated: 10/19/2011 02:42P
Greek parliament gives green light to austerity law
Greek lawmakers gave today initial approval for an austerity law cutting wages and hiking taxes, crucial for the country to receive a next batch of bailout funds and avoid bankruptcy. All 154 of the ruling Socialist PASOK party's deputies voted in
Updated: 10/19/2011 02:33P
Vivek Oberoi: Why credit derivatives aren't risk-free
The bankruptcy of one such firm, Lehman Brothers, triggered the near collapse of the financial system. In the years since, there has been no dearth of intelligent comment. Very little has, however, been written explaining why instruments expressly
Updated: 10/19/2011 02:31P
Greek Parliament Approves Austerity Bill
Greek lawmakers gave on Wednesday initial approval for an austerity law cutting wages and hiking taxes, crucial for the country to receive a next batch of bailout funds and avoid bankruptcy. All 154 of the ruling Socialist PASOK party's deputies voted
Updated: 10/19/2011 02:26P
Lehman Sues BNY Over Role in Disputed Derivatives Deal
In a suit filed Tuesday in US Bankruptcy court in Manhattan, Lehman asked Judge James Peck for a judgment declaring that the flip clause violates US bankruptcy law. At stake is the collateral backing notes issued by a special-purpose vehicle called
Updated: 10/19/2011 02:25P
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