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NewPage creditors in US want to investigate $25M transfer to NS mill
A notice of motion has been filed in US bankruptcy court seeking discovery from a number of groups, including NewPage Corp. and Ernst & Young, the court-appointed monitor for NewPage Port Hawkesbury. A hearing on the motion has been set for Nov. 9.
Updated: 10/31/2011 10:53P
Corzine Had It Coming
Some 3000 people stand a good chance of losing their jobs in the coming days. Investors are demanding answers about Corzine's risk controls, and whether the firm's board of directors had any inkling what he was doing. Even worse, federal regulators are
Updated: 10/31/2011 10:53P
Beacon Power (BCON) Latest DOE Fueled Green Energy Failure; Ener1 (HEV) Next?
On Sunday night, Beacon Power (BCON), which makes flywheel technology to recycle unused power, filed for bankruptcy protection. Granted Beacon's loan guarantee was less than a 1/10th of Solyndra's at $43 million of which $39 million was used to finance
Updated: 10/31/2011 10:49P
Deloitte to Administer MF Global Insolvency in Australia
1 (Bloomberg) -- Deloitte Touche Tohmatsu's Australian unit has been named as administrator for MF Global Holdings Ltd.'s companies in the country following MF Global's filing for bankruptcy protection in the US MF Global Securities Ltd. and MF Global
Updated: 10/31/2011 10:49P
MF Global Suspended From LME Trading, CME Clearing After Bankruptcy Filing
MF Global Holdings Ltd. (MF), the holding company that filed for bankruptcy protection yesterday, was suspended from trading on the London Metal Exchange.
Updated: 10/31/2011 10:48P
Another Solyndra?
While the $43 million loan for Beacon Power is nowhere near the over $530 million loan to Solyndra, Beacon's bankruptcy filing comes as Republicans are preparing to subpoena documents from the White House about inside dicussions on Solyndra.
Updated: 10/31/2011 10:48P
MF Global Hides Files For Bankruptcy Protection
The securities firm, MF Global, run by former New Jersey Governor, John Corzine, has filed for bankruptcy protection. This is only one week after their biggest quarterly loss ever. Their shares went down 66 percent last week alone and they suffered a
Updated: 10/31/2011 10:43P
Beacon Power: Firm feds aided files for bankruptcy
Beacon Power Corp., an energy storage company that received $43 million in backing from the US program that supported failed Fremont solar panel manufacturer Solyndra, filed for bankruptcy after struggling to raise private financing.
Updated: 10/31/2011 10:42P
European debt puts MF Global Holdings in bankruptcy
MF Global Holdings Ltd., the holding company for the broker-dealer run by former New Jersey governor and Goldman Sachs Group co-chairman Jon Corzine, filed for bankruptcy after making bets on European sovereign debt. The New York firm listed total debt
Updated: 10/31/2011 10:42P
Greek referendum threatens new euro zone crisis
However, federal bankruptcy law may limit any possible severance payouts. First-day hearings in the case were scheduled for Tuesday at 3 pm in US Bankruptcy Court in Manhattan. Among other things, MF Global is expected to seek permission from Judge
Updated: 10/31/2011 10:42P
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