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Pennsylvania Gov. Corbett moves toward Harrisburg takeover
The steps by the Republican governor are, for now, running alongside a City Council petition — filed in defiance of Corbett — seeking federal bankruptcy protection in hopes of forcing creditors to forgive a substantial portion of Harrisburg's debt.
Updated: 10/20/2011 01:22P
Why a Mortgage Cramdown Bill Is Still the Best Bet to Save the Economy
Indeed the cram-down provision would have provided homeowners and their advocates with a critical bargaining chip to negotiate sustainable loan modifications from the banks. When Senator Barack Obama was running for president he told voters that he
Updated: 10/20/2011 01:17P
Beverly-based commercial property co. files for Ch. 11
A Beverly, Mass., company that lists its business as owning and operating commercial properties filed Thursday for protection under Chapter 11 of the bankruptcy code. Blackstone Financial Holdings LLC listed assets of $950000 and liabilities of $4.13
Updated: 10/20/2011 01:11P
Saab Offered Lifeline by Private-Equity Firm
Saab has been in bankruptcy protection since September after creditors petitioned the Vanersborg district court for the car maker to be declared insolvent as debts mounted. The company has been trying to secure additional funding to resume production,
Updated: 10/20/2011 01:07P
Greece paralyzed on second day of strike ahead of austerity vote
ATHENS, Greece — More than 10000 protesters gathered outside the Greek parliament Thursday, ahead of a vote on intensely unpopular new measures needed to secure continued payment of international rescue loans that have prevented bankruptcy.
Updated: 10/20/2011 01:06P
Is the green revolution rotten?
The news Tuesday was that California Democrats pandering to the green lobby began running for cover in the wake of Solyndra's bankruptcy. And it also became public knowledge that, in addition to the $538 million in federal loan guarantees given
Updated: 10/20/2011 01:05P
Creditors trying to force Naples Bay Resort developer into bankruptcy
By Naples Daily News staff report On Wednesday, creditors filed an involuntary petition for Chapter 7 bankruptcy against the developer, Basil Street Partners, in federal court in Fort Myers. The filing comes as a court-appointed receiver for the
Updated: 10/20/2011 01:02P
Harrisburg is insolvent
Harrisburg had already filed for municipal bankruptcy a week ago, but that didn't stop the state from finalizing legislation that will put the city into receivership. Pennsylvania's latest move adds another layer of complexity to the resolution process
Updated: 10/20/2011 01:01P
Saab reorganization in jeopardy
STOCKHOLM (AP) — The owner of Saab Automobile says the administrator of the cash-strapped car maker's reorganization under bankruptcy protection wants to terminate the process. Swedish Automobile NV, the Netherlands-based company that owns Saab,
Updated: 10/20/2011 12:52P
Saab Administrator Seeks End to Creditor Protection
Saab has been in bankruptcy protection since September after creditors petitioned the Vanersborg district court for the car maker to be declared insolvent as debts mounted. The company has been trying to secure additional funding to resume production,
Updated: 10/20/2011 12:50P
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