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Alabama county files largest municipal bankruptcy in US history
Leaders of debt-hobbled Jefferson County in Alabama voted Friday to file for bankruptcy -- the largest municipal bankruptcy in US history. As recently as September, county officials had approved a tentative settlement with creditors in hopes of
Updated: 11/10/2011 01:27P
Pressing on with wool futures
AUSTRALIA'S wool futures market was suspended last week when New York broker MF Global filed for bankruptcy, but a small Ballarat-based risk management operation is continuing to trade its forward physical contracts through the turmoil.
Updated: 11/10/2011 01:23P
Is Jefferson County a national warning sign?
(We'll leave aside for the moment the people who want to have the largest number of dancers to Michael Jackson's “Thriller” as being outside the bell curve.) The municipality recently became the largest such unit in the country to file for chapter nine
Updated: 11/10/2011 01:23P
Jefferson County bankruptcy takes next legal steps
BIRMINGHAM - Jefferson County is now the largest municipality to file bankruptcy in American history. Lawyers just finished their meeting at the United States Bankruptcy Court. Alabama's 13's Paris Ja (more) Lawyers met in bankruptcy court Thursday
Updated: 11/10/2011 01:20P
Greece gets new PM, vows to stick with the Euro
Greece appointed senior banker Lucas Papademos as interim Prime Minister of the unity government which is tasked with the acceptance and cementing of the European debt deal, aimed as avoiding a Greece bankruptcy that can topple Eurozone into a new
Updated: 11/10/2011 01:19P
ICE Calls for Precedent-Setting Ruling in MF Case
IntercontinentalExchange Inc. sought a bankruptcy-court ruling Thursday to "immediately" free up customer cash held on deposit with MF Global Holdings Ltd., after some funds began to be returned to other clients of the collapsed
Updated: 11/10/2011 01:18P
Jefferson County's Inevitable Bankruptcy
After three years of trying to solve their self-imposed debt crisis, the Jefferson County, Alabama, commissioners threw in the towel on Wednesday and declared bankruptcy. The bankruptcy, involving over $4 billion in debts owed by the county,
Updated: 11/10/2011 01:18P
A loan trader's guide to commercial real estate loans
These sophisticated investors are familiar with the arcane details of bank loan trading and they are well-versed in the legal and practical aspects of debt restructuring and bankruptcy proceedings. However, despite many similarities between the
Updated: 11/10/2011 01:13P
How to avoid investing in distressed stocks
Business distress and bankruptcy can spell disappointment or even disaster for investors – and at a time of economic uncertainty, making that critical call between risk and reward is an increasingly challenging prospect. In the current environment
Updated: 11/10/2011 01:12P
Greece gets new PM
ATHENS: Former European Central Bank vice-president Lucas Papademos will head Greece's new crisis coalition, the president's office said today, ending suspense over who will try to save the country from default, bankruptcy and an exit from the euro
Updated: 11/10/2011 01:09P
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