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Receiver John Young objects to Jefferson County's demand for sewer system
BIRMINGHAM, Alabama -- Jefferson County sewer receiver John Young has filed an emergency motion with US Bankruptcy Court in Birmingham, asking the judge to keep him in control of the insolvent sanitary system. The document was filed this afternoon,
Updated: 11/10/2011 02:43P
Syms Shareholders May Get Bankruptcy Committee
Federal bankruptcy monitors are scouting for shareholders willing to serve on an official committee representing equity stakeholders in the bankruptcy liquidation of cut-rate clothiers Filene's Basement and Syms.
Updated: 11/10/2011 02:42P
Blame all around for biggest US municipal bankruptcy
For the county's 660000 and residents and the people of Birmingham, the state's largest city, bankruptcy means a threat to essential jobs and services. More immediately, however, it means sewer system rate hikes and an added burden on poor people
Updated: 11/10/2011 02:42P
New Greek PM seeks unity to face 'huge problems'
Senior banker Lucas Papademos was named Thursday to be the new prime minister of an interim Greek unity government that seeks to cement a new European debt deal and stave off national bankruptcy. Papademos, who was named after four tortuous days of
Updated: 11/10/2011 02:39P
Will Wall Street, Regulators Learn the Lessons From the MF Global Collapse?
While MF Global's bankruptcy didn't trigger the scary chain-reaction that Lehman's did, the investment portfolios of countless Americans could be impacted by the willingness of regulators and Wall Street executives to learn some harsh lessons from the
Updated: 11/10/2011 02:37P
Parties in JeffCo case have 30 days to prep for eligibility hearing
A US bankruptcy judge has given parties in Jefferson County's bankruptcy 30 days to prepare for a hearing to determine the county's eligibility for Chapter 9 bankruptcy protection. In a preliminary hearing Thursday, Judge Thomas Bennett accepted the
Updated: 11/10/2011 02:35P
MF Global debacle revives regulatory calls
Last week's bankruptcy of MF Global, one of the world's largest futures brokers, has left customers staring at a $600m hole in their accounts. The shortfall is an embarrassment for the futures market and the people who police it.
Updated: 11/10/2011 02:31P
Papademos new Greek PM, vows stability
ATHENS, Greece (AP) — Senior banker Lucas Papademos was named Thursday to be the new prime minister of an interim Greek unity government that seeks to cement a new European debt deal and stave off national bankruptcy. Papademos, who was named after
Updated: 11/10/2011 02:31P
Crystal Cathedral Creditors Give Blessing To 2 Upped Bids
A California bankruptcy judge will decide Monday between the Roman Catholic Bishop of Orange, which bid $55.4 million, and the university, whose $51.5 million offer is the preferred choice of the Crystal Cathedral Ministries' board and worshippers.
Updated: 11/10/2011 02:30P
MF Global Trustee Explains Delay in Releasing Collateral
Under bankruptcy law, he must hold back enough collateral to cover a pro rata distribution of claims he estimates will be filed, and must determine the amount of all claims before more money can be released, he said to the commodities customers in a
Updated: 11/10/2011 02:29P
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