Recent Updates

  • American Airlines files for bankruptcy protection

    American Airlines files for bankruptcy protection

    Bankruptcy 11/29/2011

    The parent company of American Airlines filed for bankruptcy protection Tuesday, seeking relief from crushing debt caused by high fuel prices and expensive labor contracts that its competitors shed years ago. The company also replaced its CEO, and th...

  • Ala. county files for largest municipal bankruptcy

    Ala. county files for largest municipal bankruptcy

    Bankruptcy 11/10/2011

    Alabama’s most populous county filed what became the largest municipal bankruptcy in U.S. history in an effort to retake control of its beleaguered sewer system and wipe away as much of its whopping $4.15 billion in debt as possible. Jefferson County...

  • MF Global faces class-action suits after bankruptcy

    MF Global faces class-action suits after bankruptcy

    Bankruptcy 11/06/2011

    Two class-action lawsuits have been filed against bankrupt brokerage MF Global as customers struggle to recover funds from the first major US casualty of the European debt crisis. On Saturday, Seattle-based Hagens Berman said it was "investigating wh...

  • Debt-crippled Pa. capital files for bankruptcy

    Debt-crippled Pa. capital files for bankruptcy

    Bankruptcy 10/13/2011

    Pennsylvania's distressed capital city filed for bankruptcy Wednesday, citing "imminent jeopardy" from lawsuits related to a debt-saddled municipal incinerator and setting up a power struggle between the mayor and City Council. The federal petition f...

  • Bankruptcy judges asking $100 to cover Kagan talk

    Bankruptcy judges asking $100 to cover Kagan talk

    Bankruptcy 10/05/2011

    The national organization of bankruptcy judges says reporters are welcome to cover Supreme Court Justice Elena Kagan's talk at its convention in mid-October, if they pay $100. Groups sometimes close their events to the press or allow reporters in wit...

  • Saab gets bankruptcy protection

    Saab gets bankruptcy protection

    Bankruptcy 09/22/2011

    A Swedish appeals court tossed a lifeline Wednesday to cash-strapped car maker Saab, approving its application for bankruptcy protection as it awaits funding from Chinese investors.The ruling by the Court of Appeal for Western Sweden, overturning a l...

  • SC attorney's bankruptcy case headed to court

    SC attorney's bankruptcy case headed to court

    Bankruptcy 09/19/2011

    A bankruptcy trustees for an attorney well known for his television commercials and highway billboards will ask a court to convert the case to a straight liquidation, saying the lawyer is unlikely to be able to repay his creditors. The Sun News of My...

  • Bankruptcy court rules against gay-marriage ban

    Bankruptcy court rules against gay-marriage ban

    Bankruptcy 06/15/2011

    Gene Balas and Carlos Morales were facing health problems and crushing financial pressures plaguing many U.S. households when they decided to file bankruptcy as a married couple. The Obama administration said they couldn't, citing the Defense of Marr...

  • Blockbuster showdown coming today in bankruptcy court

    Blockbuster showdown coming today in bankruptcy court

    Bankruptcy 04/04/2011

    Several bidders are set to duke it out for Blockbuster Inc. at a bankruptcy auction in New York today. They reportedly include Dish Network Corp. and billionaire investor Carl Icahn.The movie-rental chain has received several bids other than the open...

  • Chicago pizza chain files Chapter 11 bankruptcy

    Chicago pizza chain files Chapter 11 bankruptcy

    Bankruptcy 02/18/2011

    The Chicago-based pizza chain Giordano's has filed for Chapter 11 bankruptcy, but will continue operating with court approval to use part of a $36 million bankruptcy loan to pay employees and vendors.The chain, known for its stuffed pizza, owes nearl...

  • A&P Bankruptcy May Prompt Ahold Bid for Pathmark

    A&P Bankruptcy May Prompt Ahold Bid for Pathmark

    Bankruptcy 12/13/2010

    Great Atlantic & Pacific Tea Co.’s filing for bankruptcy protection may prompt Dutch competitor Royal Ahold NV to bid for the U.S. retailer’s Pathmark stores to add to grocery operations in the country, analysts said. A&P, which operates 400 ...

  • Discount retailer Loehmann's files for bankruptcy

    Discount retailer Loehmann's files for bankruptcy

    Bankruptcy 11/15/2010

    Discount retailer Loehmann's is filing for bankruptcy after its Dubai government-linked owner failed to reach a debt-extension deal with creditors.Loehmann's says the Chapter 11 filing Monday in the U.S. Bankruptcy Court for the Southern District of ...