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Postal-service losses hit $5.1B
AP The US Postal Service said Tuesday it has lost $5.1 billion in the past year, pushing it closer to imminent default on a multibillion-dollar payment and to future bankruptcy as the weak economy and increased Internet use drive down mail volume.
Updated: 11/16/2011 12:30A
JPMorgan Asks Judge for Full Value of $6 Billion Lehman Claims
15, 2008, bankruptcy, failed to sell collateral securing the loans in a “commercially reasonable manner,” it alleged. The biggest US bank answered Lehman yesterday in a court filing, saying it generated more than $18 billion of cash from the sale of
Updated: 11/16/2011 12:25A
MF Global trustee moves to return $520 million in client cash (NEWS.GNOM.ES)
Open trading positions were transferred to other brokers a week ago, along with about 60 percent of their collateral, but clients with cash only were unable to move their money out. The distributions, applicable to those who held only cash in their
Updated: 11/16/2011 12:24A
Bankruptcy filings drop in Bay area
Fewer people are throwing in the towel and filing for bankruptcy protection in the Tampa Bay area. That may be a sign of improvement, but judges and lawyers aren't ready to say people are out of financial trouble
Updated: 11/16/2011 12:22A
MF Global trustee moves to return £329 million in client cash
Open trading positions were transferred to other brokers a week ago, along with about 60 percent of their collateral, but clients with cash only were unable to move their money out. The distributions, applicable to those who held only cash in their
Updated: 11/16/2011 12:16A
Subdivided Laconia tract tied up in FRM mess sold to mysterious Rhode Island
LACONIA — A federal bankruptcy court judge ordered the prospective residential development known as Apple Ridge sold yesterday to the highest bidder — ADROC, LLC, a Rhode Island company that submitted a last-minute bid for the 15.3 acre
Updated: 11/16/2011 12:14A
Post office sinks deeper into debt
Losses will only accelerate in the coming year, Postmaster General Patrick Donahoe warned, citing faster-than-expected declines in first-class mail. He implored Congress to take swift, wide-ranging action to stabilize the ailing agency's finances as it
Updated: 11/16/2011 12:10A
Post office threatened with default
AP WASHINGTON - The US Postal Service said Tuesday it has lost $5.1 billion in the past year, pushing it closer to imminent default on a multibillion-dollar payment and to future bankruptcy as the weak economy and increased Internet use drive down mail
Updated: 11/16/2011 12:08A
MF Global trustee moves to return $520 million in client cash
$520 million (329 million pounds) of client money that has been frozen since the broker-dealer filed for bankruptcy. The cash transfer would be applicable for those customers who held only cash in their accounts on October 31, the trustee said.
Updated: 11/16/2011 12:07A
Former billionaire tells court he now has just 11169 in bank
The IBRC has claimed in court proceedings in Dublin this week that the eleventh-hour bankruptcy in the North was "obviously planned". Details of Mr Quinn's bankruptcy petition obtained by the Irish Independent show that he claims to have three bank
Updated: 11/16/2011 12:02A
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