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Lehman to sell Neuberger Berman stake over time
The preferred shares would bring in about $845 million immediately, with more value trickling in from common shares over the next five to seven years, according to the filing in US Bankruptcy Court in Manhattan. The plan is set for an approval hearing
Updated: 11/10/2011 10:45A
AP Top News at 8:11 pm EST
(AP) - Alabama's most populous county filed the largest municipal bankruptcy in US history Wednesday, years after being plunged more than $4 billion into debt by a corruption-riddled sewer project. Just two months after it seemed Jefferson County could
Updated: 11/10/2011 10:44A
Alabama governor criticizes county's massive bankruptcy filing
The decision by Jefferson County, Ala., commissioners to forgo a proposed settlement with creditors and file for the largest municipal bankruptcy in American history is not sitting well with some of the players in the drama, including Gov.
Updated: 11/10/2011 10:41A
Bulgarian Prosecution Launches 17 Bankruptcy Fraud Probes
The 17 companies are undergoing bankruptcy proceedings but their owners have not sought options for deferred payments. They have been reported to the prosecution on suspicions of deliberate bankruptcy filings aimed at avoiding tax liabilities.
Updated: 11/10/2011 10:39A
Winn-Dixie focuses on attitude change
Winn-Dixie Stores Inc. CEO Peter Lynch and board members Evelyn Follit and Gregory Josefowicz. by Mark Basch, Contributing Writer In the nearly five years since Winn-Dixie Stores Inc. has been out of Chapter 11 bankruptcy reorganization,
Updated: 11/10/2011 10:39A
Greece's new coalition head must battle crippling debt
Former European Central Bank vice-president Lucas Papademos will head Greece's new crisis coalition, the president's office said on Thursday, ending suspense over who will try to save the country from default, bankruptcy and an exit from the eurozone.
Updated: 11/10/2011 10:38A
Muni Market Shrugs Off Jefferson County
AP There's no reaction so far in the broader muni market to Jefferson County's decision Wednesday to file the biggest muni bankruptcy in US history, portfolio managers say. “Although this is certainly a headline event…the filing did not
Updated: 11/10/2011 10:37A
Jefferson County, AL declares biggest municipal bankruptcy
While cities in the US have declared bankruptcy in these tough economic times, an entire county has never voted to declare bankruptcy before. That is, until Wednesday night when the Jefferson County Commission of Jefferson County, Alabama voted to
Updated: 11/10/2011 10:37A
Alabama County Bankruptcy Filing Is Biggest In US History
Alabama's Jefferson County has filed for what is the biggest municipal bankruptcy in US history. The county commission voted 4-1 in favor of seeking bankruptcy protection on Wednesday after a debt-restructuring deal fell apart.
Updated: 11/10/2011 10:36A
Who are JeffCo's largest creditors?
Throughout the negotiation process that ultimately ended in bankruptcy, we've heard a lot about the various creditors owed money by Jefferson County. So who are these creditors and how much are they owed? Yesterday's filing provided a good glimpse at
Updated: 11/10/2011 10:32A
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