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MF Global's bankruptcy exposes lack of internal controls
2 (Bloomberg) -- MF Global Holdings Ltd.'s bankruptcy, the eighth-largest in US history, is exposing a lack of internal controls that may have prevented a last-minute rescue of Jon Corzine's futures broker. The day it filed for Chapter 11 protection,
Updated: 11/02/2011 05:35P
Regulator: Corzine's MF Global moved clients' millions in past week, tried to
MF Global filed for bankruptcy protection Monday after a disastrous bet on European debt. It was the eight-biggest US bankruptcy and the first major Wall Street firm to fail because of bets on European debt. CME's statement suggests that MF Global
Updated: 11/02/2011 05:35P
Obama administration considered bailout for Solyndra days before bankruptcy
House subcommittee is set to vote on a plan to subpoena White House documents related to the defunct solar company, Solyndra Inc. The company received a $528 million federal loan before filing for bankruptcy protection and laying off 1100 workers.
Updated: 11/02/2011 05:35P
Judge hears initial motions in Beacon Power bankruptcy, DOE opposes use of
A Massachusetts company that received a $39 million Department of Energy loan before declaring bankruptcy is asking a Delaware judge for permission to use collateral for the loan to help pay its operating expenses. Beacon Power Corp., which makes
Updated: 11/02/2011 05:35P
Is clean energy headed for a crisis?
The fact that yet another company backed by federal loan guarantees — Beacon Power, a flywheel storage company — just filed for bankruptcy won't help matters. And, today, the Energy Department's watchdog, Gregory Friedman, is telling Congress that the
Updated: 11/02/2011 05:34P
MF Global Has Customer Shortfall of $633 Million, CFTC Says
At a hearing today in US Bankruptcy Court in Manhattan, lawyers for the CFTC said the trustee for the bankrupt broker- dealer may recover the shortfall. MF Global's trustee won permission to transfer 50000 accounts where customers of the failed
Updated: 11/02/2011 05:32P
Discount chains file for bankruptcy
AP New York • Discount retailer Syms Corp. and its subsidiary Filene's Basement have filed for bankruptcy protection and plan to close all 46 of their stores. Syms acquired Filene's Basement out of bankruptcy protection in the
Updated: 11/02/2011 05:31P
Steve Garvey wants to buy Dodgers
The investment group led by former Dodger greats Steve Garvey and Orel Hershiser is preparing a proposal buy the Los Angeles Dodgers in a bankruptcy court auction. To speed the process along, bidders in the auction will need to be
Updated: 11/02/2011 05:28P
COLUMN-Are big banks now in the clear over Madoff? Frankel
NEW YORK Nov 2 (Reuters) - Irving Picard has given the bankruptcy laws one hell of a workout. As trustee in the Chapter 7 bankruptcy of Bernard Madoff's securities firm, Picard, a partner at Baker & Hostetler, has been more aggressive
Updated: 11/02/2011 05:26P
Where Bargains Go To Die: Syms And Filene's Basement File For Bankruptcy
Say goodbye to these bargains: Syms Corporation, including its subsidiary Filene's Basement, have filed for bankruptcy, and plan to close all 46 of their stores. Syms acquired Filene's Basement out of bankruptcy protection in the spring of 2009 for
Updated: 11/02/2011 05:22P
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